Viral gold-melting machine stuns viewers but faces U.S. legal roadblocks
A viral video showing a machine melting gold jewellery into gambling credits has sparked curiosity. The clip, posted on Reddit, features the Smart Gold Store, a device first launched in Shanghai in April 2022. However, experts say the technology won't be appearing in Las Vegas anytime soon. The video was produced by Kinghood Group, a company based in Shenzhen, China. Their Smart Gold Store machine scans gold items using X-rays and ultrasound to check purity before melting them. Despite the video's suggestion of instant processing, the actual melting takes between 10 and 30 minutes.
Gold ATMs already exist in Las Vegas, but they operate differently. These machines dispense 24K gold foil notes in exchange for cash—they do not buy or melt jewellery. The difference highlights the limitations of automating gold transactions under strict regulations.
Nevada law, specifically NRS 647, bans instant gold smelting to prevent the laundering of stolen property. The IRS also enforces tight money laundering controls, making it difficult to introduce automated systems like the Smart Gold Store. Kinghood Group has not filed for a U.S. patent on the smelting technology and has no plans to bring the machine to America soon. For now, the Smart Gold Store remains a Chinese innovation with no immediate path to Las Vegas. Existing gold ATMs in the city continue to operate under current laws, offering foil notes rather than melting services. The legal and regulatory hurdles mean automated gold transactions are unlikely to expand in the U.S. in the near future.
