Uncle Gem V, Universal Automatic Instant Money, Data and Precious Metal & Stone Transfer Machine

Abstract

The Universal Automatic Instant Money, Data and Gold Transfer Machine, Uncle GEM V, system is a multiplicity of devices on a communications network available 24 hours a day, used interchangeably as sender, receiver and dispenser of funds and data. The sender accepts standard currency and includes removable medium storage devices to transfer to another such device acting as a receiver/dispenser. Remitted amounts are inserted or deducted from credit/debit accounts or currency and who pays the fees charged is indicated by an initiator of the transaction. Transfer transaction information includes: the type of transfer (money/funds or data); which device deducts the fee; how much money or what data to transfer; and to who and where the transfer transaction is to be made available All Precious metal coins and currency can be Digitally imaged and viewed in real time at anytime throughout this process. A receipt is generated by the sender via the system and a receiver becomes a dispenser when the recipient retrieves a pending transaction using the appropriate password or identification. The cash, data, or financial instrument is then dispensed. The Uncle GEMs also feature acceptance of alternate payment options, such as, precious metal coins, i.e., gold, silver platinum rhodium, and precious stones, i.e. diamonds, sapphires, and rubies. In essence, virtually anything can be bought, purchased, bartered, traded or sold.

The Invention is also an Anti-counterfeiting and Anti-terrorism device, machine, process, method and system. It can deter and prevent terrorist attacks upon the US and global monetary systems by using precious metals, i.e., gold, silver, platinum or rhodium, that can be instantaneously authenticated by assay means and cannot be easily printed, duplicated or counterfeited.

Description

SUMMARY OF THE INVENTION[0001]The invention is related to devices used to transfer funds or currency by electronic means. It is well known in the art that the money transfer industry requires an agent, usually a franchised store's clerk accepting cash or credit, and using telephonic or EDI means to transfer funds from one individual at a proximal location to another individual or entity at a distal location. MoneyGram, Western Union, CyberCash and others operate in this fashion.[0002]The invention presented is not limited to requiring a physical person, telephonic means, or EDI based means to accomplish a funds transfer. Instead the invention utilizes a device that should be considered a hybrid apparatus, drawing on aspects of both a vending machine and an automated teller machine (ATM). Both are well known in the art of electronic money handling devices.[0003]The instant invention is a new apparatus and system method & process that enables people to send and receive normal conventi...

AI Technical Summary

Benefits of technology

[0056]The objective of this invention embodiment is to enable the aforementioned and to allow people the means and choice to accept alternative payment options, i.e., gold, silver, and other metallic coins and / or precious stones to easily purchase and sell online goods and services as well as virtually any item globally, using the instant invention. In essence the buying and selling or purchase of goods and services using gold and silver including bullion has been an option for the super rich for quite awhile. However, there was not a means and market for the middle class and even relatively poor people who at times have had and do possess gold coins and such. The instant invention will enable these people to engage in normal global commerce using the aforementioned or paper currency and not have to be restricted to middlemen and pawn shops. The incorporation of precious metals coins is an effective expedient in the probable event of insolvency, super inflation and hyper inflation and can avert and prevent future global financial collapse due to paper currency failures.

[0057]Also, the instant invention's capability to transfer send and receive gold / silver coins can in itself serve as a solution to prop up or buttress and counteract faltering currencies in times of national disasters, war, famine and political economic instabilities. The instant invention itself will provide a solution to many developing and modern countries' economic ills, see 2004 Standard Catalog of World Coins by Chester L. Krause and Clifford Mishler 1901-present, 31st Edition incorporated herein by reference. A truly practical method means and processes are herein described that will facilitate and enable a person to buy and / or select goods and services on-line or shopping using the Internet and similar means. Enabling online shopping by and through any communication means available and with cash, gold, silver, or other precious metal coins, cash and financial instruments, as well as normal means such as credit / debit cards and Visa or MasterCards, smart cards and other financial instruments. Consumers can send data and purchase products, goods and services, such as, music, music videos and movies, as well as participation in buying and selling on Ebay and other auctioning sites and paying for these goods and services, including using barter and barter type trades / systems, by using the Uncle GEM / Aunty IM.

Problems solved by technology

However, the gold and other metals are stored in their vaults for safekeeping and the danger of this is human nature.

Currently with the extremely high deficit in the trillions, our nation is highly vulnerable to economic insolvency, possible currency collapse, hyperinflation, international monetary blackmail.

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