Hey, while you're at the vending machine, could you get me a coke, and a diamond necklace?

By Megan Reynolds, AJP (GIA)

Vending machines, sure they’re great for a quick drink or candy bar, but what happens when the humble vending machine becomes something a bit classier? For the past couple of years, enterprising gold merchants have been attempting to transform the humble vending machine, previously the home of my beloved Twix bars and Mountain Dew, to emporiums of gold and silver. And most recently, the Gitanjali Group has decided to take it one step further, by adding diamonds. Yes, you can now buy diamonds, from a vending machine. I give you, the ‘Go for Gold’ vending machine, accented by famous Bollywood actress Raima Sen.

Unveiled in Mumbai on October 22^nd, the new machine designed to operate like an ATM, is already making world-wide headlines. Not unlike its gold-vending counterparts, the new machines will dispense gold and silver bars, coins, pendants with religious motifs, as well as a range of diamond studded jewelry. “This machine is a first of its kind anywhere in the world and will further revolutionize the processes by which precious metals and jewelry is bought”, claims Gitanjali CEO Sanjeev Agarwal. “It has a particular significance in India, where usually such items are purchased as tokens to observe traditions on auspicious days. But it also offers choices for occasions like Valentine’s Day, or to a husband who forgot an anniversary or his wife’s birthday.”  

The ATM utilizes a touch screen and gives customers a choice of around 36 options in difference sizes, designs and price points. Prices will range from about $20 to $610 dollars for the various coins and jewelry items. The machines will accept payment in the form of Credit/Debit and cash.

So, would you buy diamond jewelry from what is essentially a high class vending machine? I have to say, I would. I’m just the kind of person that would get a kick out of it. The real question then becomes, what happens to the diamond ATM when the novelty wears off? I'm not sure, but for now, I'll take a gold bar, and a bag of Fritos please.