Apparatus, system and method for coin exchange

• US 8,950,566 B2
• Filed: 12/30/2008
• Issued: 02/10/2015
• Est. Priority Date: 05/13/1996
• Status: Expired due to Fees

• Current Assignee: Cummins-Allison Corporation (Crane Company)
• Original Assignee: Cummins-Allison Corporation (Crane Company)
• Inventors: Hallowell, Curtis W., Blake, John R., Jones, William J.
• Primary Examiner(s): SHAPIRO, JEFFREY ALAN
• Application Number:
  US12/346,758
• Publication Number:
  US 20090236200A1
• Time in Patent Office: 2,233 Days
• Field of Search: 705/14.15, 705/14.25, 705/14.17, 705/42, 705/43, 194/206, 194/207, 209/534, 453/6, 453/10, 453/12, 453/13, 453 33- 35, 453/49, 453/57, 382/135, 382/136, 902 8- 21
• US Class Current: 194/206
• CPC Class Codes: G06Q 99/00 Subject matter not provided for in other groups of this subclass
• CPC Class Codes: G07D 1/04 dispensing change equal to a sum deposited
• CPC Class Codes: G07D 11/0087 Banknote changing devices
• CPC Class Codes: G07D 9/008 Feeding coins from bulk

Abstract

A method for exchanging coins, the method including the acts of receiving in a self-service coin exchange machine a plurality of coins, processing the plurality of coins to determine a total value of the plurality of coins, and dispensing currency to the patron from a currency dispenser, the currency having a value related to the total value.

Claims

1. A method for exchanging coins, the method comprising:

authorizing, using a controller, a user to conduct a coin exchange transaction at a self-service coin exchange machine;

receiving in a bulk coin input area of a self-service coin exchange machine, subsequent to the act of authorizing, bulk coins comprising a plurality of coins of a first currency type;

processing the plurality of coins to determine a total value of the plurality of coins; and

responsive to the determination of the total value of the plurality of coins, substantially immediately dispensing bills of the first currency type from a currency dispensing module of the self-service coin exchange machine, the dispensed bills having an amount relating to the total value of the plurality of coins.

2. The method of claim 1, further comprising:

assessing a fee for the coin exchange transaction;

subtracting the fee from the total value to determine an amount due to the user.

3. The method of claim 1, further comprising:

transmitting a portion of the total value to a designated account.

4. The method of claim 1, further comprising:

dispensing coins in another amount relating to the total value from a coin dispensing module of the self-service coin exchange machine.

5. The method of claim 3, further comprising:

accepting an input from a biometric characteristic reader associated with the self-service coin exchange machine.

6. The method of claim 1, wherein the act of authorizing comprises accepting a user input.

7. The method of claim 6, wherein user input comprises one of a biometric input, code, or identification.

8. The method of claim 1, wherein the act of authorizing comprises:

requesting an access code to use the self-service coin exchange machine prior to the transaction;

responsive to said act of requesting, transmitting an access code to the self-service coin exchange machine using a hardwired communication device or a wireless communication device to enable the self-service coin exchange machine to process a transaction associated with the access code;

providing the access code to the user; and

entering the access code by the user into an input device of the self-service coin exchange machine.

9. The method of claim 8, wherein the access code is a randomly generated code.

10. The method of claim 3, further comprising:

accepting an input from a stored value media reader associated with the self-service coin exchange machine.

11. The method of claim 1, further comprising:

maintaining, in a physical memory associated with the self-service coin exchange machine, a history of the coin numbers and denominations deposited in the self-service coin exchange machine per transaction;

trending, using a controller, the mix of coins and amounts of coins deposited in the machine;

estimating, using the controller, if the coin receptacles have sufficient capacity to accept a transaction; and

disabling the self-service coin exchange machine if it is estimated by the controller that the coin receptacles do not have sufficient capacity to accept a transaction.

12. A method for exchanging coins at a stand-alone self-service coin exchange machine, the method comprising:

receiving in a bulk coin input area of a stand-alone self-service coin exchange machine a plurality of coins of a first currency type;

processing the plurality of coins to determine a total value of the plurality of coins; and

substantially immediately dispensing bills of the first currency type from the currency dispensing module, the dispensed bills having a value relating to the total value.

13. The method for exchanging coins at a stand-alone self-service coin exchange machine according to claim 12, further comprising:

substantially immediately dispensing coin from the coin dispensing module having a value relating to a difference between the total value and the value of the bills dispensed from the currency dispensing module.

14. A method for exchanging coins at a stand-alone self-service coin exchange machine, the method comprising:

receiving in a bulk coin input area of a stand-alone self-service coin exchange machine a plurality of coins of a first currency type input by a user;

processing the plurality of coins to determine a total value of the plurality of coins;

providing to the user of the stand-alone self-service coin exchange machine an option to, in exchange for the input plurality of coins, receive bills of the first currency type from a currency dispensing module of the stand-alone self-service coin exchange machine having a value relating to the total value or to receive a combination of bills and coins of the first currency type from the currency dispensing module of the stand-alone self-service coin exchange machine having a value relating to the total value; and

providing to the user of the stand-alone self-service coin exchange machine an option to output a value relating to the total value in a form other than bills or coins, the value being in the form of the first currency type.

15. The method for exchanging coins at a stand-alone self-service coin exchange machine according to claim 14, wherein the option to output a value relating to the total value in a form other than bills or coins includes an option for transmitting at least a portion of the value relating to the total value to a user'"'"'s personal electronic device.

16. The method for exchanging coins at a stand-alone self-service coin exchange machine according to claim 14, wherein the option to output a value relating to the total value in a form other than bills or coins includes an option for transmitting at least a portion of the value relating to the total value to a stored value card.

17. The method for exchanging coins at a stand-alone self-service coin exchange machine according to claim 14, wherein the option to output a value relating to the total value in a form other than bills or coins includes an option for transmitting at least a portion of the value relating to the total value to a user'"'"'s electronic storage device, a user'"'"'s magnetic storage device, a user'"'"'s solid state storage device, or a user'"'"'s optical storage device.

18. The method for exchanging coins at a stand-alone self-service coin exchange machine according to claim 14, wherein the option to output a value relating to the total value in a form other than bills or coins includes an option for transmitting at least a portion of the value relating to the total value to a user'"'"'s magnetic storage device.

19. The method for exchanging coins at a stand-alone self-service coin exchange machine according to claim 14, wherein the option to output a value relating to the total value in a form other than bills or coins includes an option for transmitting at least a portion of the value relating to the total value to a user'"'"'s solid state storage device.

20. The method for exchanging coins at a stand-alone self-service coin exchange machine according to claim 14, wherein the option to output a value relating to the total value in a form other than bills or coins includes an option for transmitting at least a portion of the value relating to the total value to a user'"'"'s optical storage device.

21. A method for exchanging loose coins of a plurality of currency types at a self-service coin exchange machine, the method comprising:

receiving, in a bulk coin input area of the self-service coin exchange machine, bulk mixed loose coins of a plurality of currency types;

processing the plurality of coins to determine a number of and a denomination of a first plurality of coins of a first currency type and to determine a number of and a denomination of a second plurality of coins of a second currency type;

determining a value of the first plurality of coins of the first currency type;

determining a value of the second plurality of coins of the second currency type;

determining a total value of the input loose coins; and

dispensing bills of the first currency type from a currency dispensing module associated with the self-service coin exchange machine, the dispensed bills having a value relating to the total value.

22. The method for exchanging coins at a self-service coin exchange machine according to claim 21, wherein the value relating to the total value comprises the value of the first plurality of coins of the first currency type summed together with the value of the second plurality of coins of the second currency type.

23. The method for exchanging coins at a self-service coin exchange machine according to claim 21, wherein the value relating to the total value comprises the value of the first plurality of coins of the first currency type summed together with the value of the second plurality of coins of the second currency type minus a transaction fee.

24. The method for exchanging coins at a self-service coin exchange machine according to claim 21, wherein the act of determining a value of the second plurality of the coins of the second currency type comprises comparing the number of and denomination of the coins of the second currency type to a prevailing exchange rate for the second currency type.

25. The method for exchanging coins at a self-service coin exchange machine according to claim 21, further comprising:

disposing the self-service coin exchange machine in an airport, a train station, or in the vicinity of a border crossing.

26. The method for exchanging coins at a self-service coin exchange machine according to claim 21, further comprising:

discharging the first plurality of coins to a plurality of separate coin receptacles, each coin receptacle receiving coins of a single denomination of the first currency type; and

discharging the second plurality of coins to common coin receptacle for the second currency type.

27. The method for exchanging coins at a self-service coin exchange machine according to claim 21, further comprising:

transmitting to a local computer, a remote computer, or both a local computer and a remote computer transaction information or statistical transaction information.

28. The method for exchanging coins at a self-service coin exchange machine according to claim 21, further comprising:

transmitting to a local computer, a remote computer, or both a local computer and a remote computer status information relating to the self-service coin exchange apparatus.

29. The method for exchanging coins at a self-service coin exchange machine according to claim 21,

transmitting to a local computer, a remote computer, or both a local computer and a remote computer status information relating to a status of a coin receptacle, a coin dispenser, or a currency dispenser.

30. The method for exchanging coins at a self-service coin exchange machine according to claim 21, transmitting to a local computer, a remote computer, or both a local computer and a remote computer status information relating to a status of the coin processing device.

31. A method for exchanging coins, the method comprising:

receiving, in a bulk coin input area of a self-service coin exchange machine, bulk coins comprising a plurality of coins of a first currency type;

processing the plurality of coins to determine a total value of the plurality of coins;

receiving an input from a user indicating a user status;

verifying, using at least one controller, the user status;

assessing, responsive to the user input, a transaction fee associated with the user status, the transaction fee being different for different ones of a plurality of user statuses; and

dispensing bills of the first currency type from the currency dispensing module having an amount relating to the total value of the coins input into the self-service coin exchange machine by the user, less the transaction fee associated with the user'"'"'s status.

32. The method of claim 31, wherein the act of receiving an input from the user indicating a user status comprises reading information from a card bearing data on a magnetic strip.

33. The method of claim 31, wherein the act of receiving an input from the user indicating a user status comprises accepting a code or other identifying information input by the user.

34. The method of claim 33, wherein the identifying information input by the user comprises biometric data.

35. The method of claim 33, wherein the self-service coin exchange machine is disposed in a grocery store and wherein the user status comprises a membership in a grocery store preferred card program.