Published on: February 10, 2026, 07:08h.
Updated on: February 10, 2026, 07:37h.
- A trending video claims Las Vegas casino ATMs may soon convert jewelry into gambling credits
- Nevada law NRS 647 prohibits immediate gold smelting to prevent laundering of stolen items
- The Smart Gold Store machines currently operate in China, with no plans to expand to the U.S. soon
A viral post on Reddit recently showcased a machine that melts gold, accompanied by the title “Casino ATM: melts down your gold jewelry at 2200°F, verifies purity and weight – time to gamble!”
The video, now removed, showcased an individual placing a gold ring into a kiosk, which then activated a robotic arm that transferred the ring into a furnace. Subsequently, it transferred the equivalent cash directly to the user’s bank account.
Fool’s Gold
The video was indeed legitimate, published by Kinghood Group, a Shenzhen-based company listed in the Fortune China 500. Watch it here…
This smart machine, called the Smart Gold Store, functions as a mini automated refinery. Upon depositing jewelry, it employs X-rays and ultrasound technology to perform a preliminary scan to assess purity. Only after this does it ignite the furnace. While the viral clip suggests instantaneous melting, the entire process—including a second scan of the molten gold—requires between 10 and 30 minutes.
However, fans of shows like Pawn Stars and avid gamblers need not fret as there are no current plans to introduce the gold-recycling devices to Las Vegas, at least for the foreseeable future.
The first Smart Gold Store debuted at Shanghai’s Global Harbor shopping mall last April. Following this, two setups were launched in Macau: at the Centro Comerical Praia Grande and L’Arc Macao, a colossal casino-hotel situated in NAPE district.
Additional locations were also implemented across Hong Kong.
Challenges for Vegas
A machine capable of melting metal at an extreme temperature of 2,200°F poses considerable fire risks requiring industrial-grade ventilation. No Las Vegas establishment will install a smelting furnace adjacent to a series of Buffalo Gold slots.
Additionally, two primary regulations would hinder operations:
- According to Nevada’s NRS 647, any enterprise purchasing secondhand gold must retain it in its original form for a designated period (typically 30–90 days) to allow police to verify it against stolen property records. Essentially, a smelting device that instantly melts gold acts as a laundering tool for jewel thieves, rendering it illegal in Nevada.
- Nevada law and the IRS necessitate Form 8300 submissions for large cash transactions at casinos, alongside stringent “Know Your Customer” measures to combat money laundering, which are too complex to automate effectively.
Golden Opportunities
While the original Reddit post has been taken down, the amusing responses it sparked remain available.
“Lost all your funds gambling and can’t play anymore? Well… at least you still have your wedding ring!” commented user @Ghost-oh.
“Why leave? We will accept anything of value you have if you just stick around. When you run out of jewelry, why not visit the Kidney-O-Matic next door?” user @-SaC added.
“No, I don’t have a gambling addiction. Let me just extract this tooth…” joked user @to-fire1.
In fact, there are existing gold ATMs in Las Vegas—named GoldATM—scattered across 13 locations, including Caesars Palace, the Strat, and Circa. However, they do not buy or melt jewelry; they dispense 24K gold foil notes in exchange for cash.
Kinghood Group has yet to file for a U.S. patent concerning the smelting technology, which would be a prerequisite for legally importing the machine into the country.
Nonetheless, the company recently unveiled an international version of Gold Smart, and it is hopeful for a future expansion into the U.S.
The NAMA OneShow, the premier global vending machine expo, is set to take place in L.A. in April 2026. Sources suggest that the Smart Gold Store, or a similar competing device, will be the highlight technology featured to attract local operators.