Method and apparatus for coin processing

• US 6,264,545 B1
• Filed: 02/26/2000
• Issued: 07/24/2001
• Est. Priority Date: 02/26/2000
• Status: Expired due to Fees

• Current Assignee: MAGE Incorporated
• Original Assignee: MAGE Incorporated
• Inventors: Allexon, Robert A., Magee, William D.
• Primary Examiner(s): Olszewski, Robert P.
• Assistant Examiner(s): JAKETIC, BRYAN J
• Application Number:
  US09/513,909
• Time in Patent Office: 514 Days
• Field of Search: 194/350, 232/15, 232/16, 453/3-17
• US Class Current: 453/3
• CPC Class Codes: G07D 3/16 in combination with coin-counting
• CPC Class Codes: G07D 9/00 Counting coins in combination with coin-sorting G07D3/16; Handling of coins not provided for in the other groups of this subclass

Abstract

A stream of coins of mixed denominations is passed through a first station in which the mixed coins are counted and the stream of mixed coins is then sorted to segregate coins of a selected denomination from those of other denominations. The coins of the other denominations are deposited into a first vault chamber, and the coins of the selected denomination are deposited into a second vault chamber. A report of the value of the counted coins of all denomination is generated. At a processing station to which the vault chambers are transported, the coins of the selected denomination in the second vault chamber from repeated sorting operations by many users can be weighed to determine the total value thereof. Thus, only the coins of other denominations need to be counted and separated into denominations, thereby reducing the processing time, the wear on high speed counting and sorting apparatus, and the costs of coin processing.

Claims

1. In a method for counting coins of mixed denominations and segregating coins of a single denomination from coins of other denominations, the steps comprising:

(a) passing a stream of coins of mixed denominations through a first station in which all coins are counted to determine the total value thereof;

(b) sorting said stream of coins of mixed denominations to segregate coins of a selected denomination from coins of other denominations;

(c) depositing said coins of other denominations into a first vault chamber;

(d) depositing said segregated coins of said selected denomination into a second vault chamber; and

(e) providing the valuation of the counted coins.

2. The method of counting coins of mixed denominations and segregating coins of a single denomination from coins of other denominations in accordance with claim 1 including the further steps of

(a) repeatedly conducting said counting and sorting operations on batches of coins by a number of users; and

(b) weighing said segregated coins of said selected denomination in said second vault chamber to determine the total value thereof.

3. The method of counting and segregating mixed coins in accordance with claim 1 wherein said coins are United States coinage and said selected denomination is a penny.

4. The method of counting and segregating mixed coins in accordance with claim 3 wherein said coins are those of the United States and wherein said sorting step removes the coins in said mixed stream by diameter with any dimes in said stream being channeled to the stream of the mixed coins which are of denomination larger than pennies.

5. The method of counting and segregating mixed coins in accordance with claim 1 wherein said coin sorting step offsorts said segregated coins of said selected denomination from the stream of coins exiting the counting step into said second vault chamber, while the stream of the remaining mixed coins is directed into said first vault chamber.

6. The method of counting and segregating mixed coins in accordance with claim 1 wherein there is included the step of removing from said stream of coins, foreign, mutilated and counterfeit coins, and separately discharging said removed coins.

7. The method of counting and sorting mixed coins in accordance with claim 1 wherein said vault chambers are separable and wherein there is included the step of weighing said second vault chamber to determine the weight of the coins therein and thereby the total value of the coins of said selected denomination therein.

8. The method of counting and segregating mixed coins in accordance with claim 1 including the steps of periodically transporting said vault chambers with the coins therein to a processing center and weighing said segregated coins in said second chamber to determine the value thereof.

9. The method of counting and segregating mixed coins in accordance with claim 8 wherein said vault chambers are formed in a single vault and wherein there is included the step of removing said mixed coins of other denominations from said first chamber and weighing said vault thereafter.

10. The method of counting and segregating mixed coins in accordance with claim 8 wherein there is included the step of removing said mixed coins of other denominations from said first chamber and counting and sorting said mixed coins.

11. A coin processor for counting coins of mixed denominations and segregating coins of a selected denomination from those of other denominations comprising:

(a) a housing having an upper portion and a lower portion providing a vault receiving chamber;

(b) a vault removably seated in said vault receiving chamber and providing a first coin receiving chamber and a second coin receiving chamber;

(c) a coin counter in said upper portion for receiving coins of mixed denominations and counting all coins;

(d) a coin sorter in said upper portion for segregating a stream of mixed coins extending said counter into a stream of coins of a selected denomination and a stream of mixed coins of other denominations;

(e) a first conduit for the stream of coins of other mixed denominations to said first chamber in said vault;

(f) a second conduit for the stream of coins of said selected denomination to said second chamber in said vault; and

(g) indicia providing means for displaying the total value of the counted coins.

12. The coin processor in accordance with claim 11 wherein said first chamber is removable from said vault and said vault has a door to access said first chamber and which may be locked for security.

13. The coin processor in accordance with claim 11 wherein said vault has separate discharge ports for each of said chambers through which the coins therein may be separately discharged.

14. The coin processor in accordance with claim 11 wherein said coin sorter includes a channel for a stream of coins and means along said channel for segregating the coins of the selected denomination.

15. The coin processor in accordance with claim 11 wherein the coins to be sorted are those of the United States with the selected denomination being a penny and wherein said sorter includes means for combining dimes with the stream of larger diameter coins.

16. The coin processor in accordance with claim 11 wherein said counter includes means for removing foreign, counterfeit and mutilated coins and a discharge chute for said removed coins.

17. The coin processor in accordance with claim 11 wherein said housing has an opening therein through which said vault may be removed, and access door closing the opening and means for locking said access door.

18. The coin processor in accordance with claim 17 wherein said vault has recesses in its bottom portion for seating the forks of a fork lift to move the vault.

19. The coin processor in accordance with claim 11 wherein said vault has a discharge opening for said first chamber through which the coins of mixed denominations may be drained.

20. The coin processor in accordance with claim 11 wherein said indicia providing means is a printer.

21. The coin processor in accordance with claim 17 wherein said vault has wheels thereon for movement thereof and an engageable element which can be engaged to remove said vault from said housing.