World's First Gold Recycling ATM, world record in Shanghai, China
Shanghai, China--A mall in China’s Shanghai has introduced a Gold ATM that allows people to sell their gold jewellery in just 30 minutes; developed by China’s
Kinghood Group, is designed to analyze, melt and weigh gold items, setting the world record for being the
World's First Gold Recycling ATM, according to the WORLD RECORD ACADEMY.
"Amid surging gold prices, Shanghai has introduced its first “gold recycling ATM“, drawing significant public interest, particularly from older residents seeking to cash in on the jewelry they’ve held for generations," the Mining.com reports.
"Operated by Shenzhen-based jeweller Kinghood Group, the ATM — which is built into the company’s Smart Gold Store concept — is designed to take gold items of over 3 grams with a purity of at least 50%.
"The recycling process includes identity verification, melting at temperatures exceeding 1,000°C, and a second assay to determine purity. A service fee of 18 yuan ($2.50) per gram is deducted before funds are transferred to the user’s bank account."
"On April 16, 2025, Shanghai introduced a self-service gold recycling ATM at Global Port. The machine inspects, melts, and evaluates gold items with real-time pricing and rapid payout," the Yahoo News reports.
"It also allows instant purchases of gold jewelry in a one-stop self-service experience."
"Curious crowds gather around an automated teller machine (ATM) producing a peculiar humming sound inside one of the busiest shopping malls in the Putuo District of Shanghai. This ATM is not your ordinary cash dispenser; it is the world's first gold recycling ATM," the
Viory says.
"Footage shows more than a dozen onlookers watching as a piece of gold jewellery melts at a staggering temperature of 1,200 degrees Celsius. This machine can buy and sell gold and has been launched in about 100 cities across China, with plans to install a second unit in Shanghai.
"It provides a quick alternative to traditional jewellery stores and attracts customers eager to cash in on soaring gold prices. The process is efficient, with settlements completed in just 30 minutes after calculating the payment amount based on the real-time gold price and deducting a small service fee."
"Taking a big leap in gold trading, a mall in China’s Shanghai has introduced a Gold ATM that allows people to sell their gold jewellery in just 30 minutes. They can receive the amount for their gold item in the same time and that too without any documentation or paperwork," the India.com reports.
"The smart gold ATM has stunned the world because of its simple processing method. It is developed by China’s Kinghood Group, and is designed to analyze, melt and weigh gold items.
"This Gold ATM determines the purity of the gold item and according to the analysis, it sends money directly to the seller’s bank account. Gold items must weigh more than three grams and be at least 50% pure to be processed by the machine."
"Customers in China are queuing up to encash their jewellery after the Kinghood Group launched Shanghai’s first-ever “gold recycling ATM”. Called the Smart Gold Store, the machine, located in the Global Harbor mall, transfers money to the user’s bank account after weighing and smelting their gold, all within 30 minutes," the Times Now reports.
"Designed by the Shenzhen-based Kinghood Group, the machine has a painstaking two-stage rigmarole for authenticating the gold put in it. The first includes identity verification, smelting and recycling, while the second involves an additional assaying of purity.
"Kinghood debuted the Smart Gold Store in 2019. The prototype featured a “gold ATM terminal” with services like purchase, customisation and recycling all built into the machine. The standardised version, rolled out last year, has high-precision technology that’s accurate down to 0.01% in determining weight and purity."
"The international version of the Smart Gold Store features advanced hardware, including high-precision electronic scales compatible with major global measurement units; and a universal detector with an accuracy of 0.01%," the official press release says.
"The system supports mobile phone registration in 200+ countries, multi-currency payments in 100+ countries and real-time price docking with the international gold trading markets. It can be customized to diverse regulatory, measurement and language requirements worldwide.
"Kinghood has been a trailblazer in the industry since 2019, debuting the world's first generation of Smart Gold Store with a unique machine, namely 'Gold ATM Terminal', which integrates purchasing, customization and recycling services into a single platform. It focuses on offering lightweight gold products that resonate with younger consumers' demand."
Photos: World's First Gold Recycling ATM, world record in Shanghai, China
(1) Kinghood Group’s Smart Gold Store. / ShenZhen KINGHOOD Group Co., Ltd.
(2) KINGHOOD’s International Version of Smart Gold Store Makes Its Debut in Hong Kong./KINGHOOD Corporation Communications
(3) Shanghai residents eagerly line up to experience a gold ATM located in the Global Harbor shopping mall on April 19, 2025. Operated by Shenzhen-based jeweler Kinghood Group, this innovative machine, known as China's first "gold recycling ATM," has drawn significant public interest on social media as it integrates purchasing, customization and recycling services into a single platform. Photo:
VCG
(4) A Kinghood employee addresses queries on the company's gold exchange machines during the 2024 China Gold Congress and Expo last week. PHOTO/CHINA DAILY
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