Apparatus, System and Method For Coin Exchange

• US 20090236200A1
• Filed: 12/30/2008
• Published: 09/24/2009
• Est. Priority Date: 05/13/1996
• Status: Active Grant

• Current Assignee: Cummins-Allison Corporation (Crane Company)
• Original Assignee: Cummins-Allison Corporation (Crane Company)
• Inventors: Jones, William J., Hallowell, Curtis W., Blake, John R.
• Granted Patent: US 8,950,566 B2
• Time in Patent Office: Days
• US Class Current: 194/215
• 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:

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 bills from the currency dispensing module having an amount relating to the total value.

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 an amount relating to the total value from a coin dispensing module.

5. The method of claim 3, further comprising:

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

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

receiving in a stand-alone 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

substantially immediately dispensing bills from the currency dispensing module having a value relating to the total value.

7. The method for exchanging coins at a stand-alone self-service coin exchange machine according to claim 6, 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.

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

receiving in a stand-alone self-service coin exchange machine a plurality of coins 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 dispense bills from the currency dispensing module in bills or coins 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.

9. The method for exchanging coins at a stand-alone self-service coin exchange machine according to claim 8, 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.

10. The method for exchanging coins at a stand-alone self-service coin exchange machine according to claim 8, 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 account.

11. The method for exchanging coins at a stand-alone self-service coin exchange machine according to claim 8, 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.

12. The method for exchanging coins at a stand-alone self-service coin exchange machine according to claim 8, 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.

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

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;

dispensing currency from the currency dispensing module having a value relating to the total value, dispensing a stored value media from a stored value media dispenser, the stored value media having a value relating to the total value, or dispensing both currency from the currency dispensing module and dispensing a stored value media from the stored value media dispenser, the combination of the value of the currency and the stored value media having a cumulative value relating to the total value; and

communicating transaction related data from the self-service coin exchange machine to a local computer, a remote computer, or both a local computer and a remote computer.

14. The method for exchanging coins at a self-service coin exchange machine according to claim 13, wherein the act of dispensing a stored value media from the stored value media dispenser comprises dispensing a stored value card.

15. The method for exchanging coins at a self-service coin exchange machine according to claim 13, wherein the act of dispensing a stored value media from the stored value media dispenser comprises dispensing a restricted use ticket.

16. The method for exchanging coins at a self-service coin exchange machine according to claim 13, wherein the transaction related data comprises at least one of coin counts, the total value of processed coins in a transaction, a cumulative value of processed coins, the value of any dispensed currency in a transaction, the value of any dispensed stored value media in a transaction, a cumulative value of dispensed currency, or a cumulative value of dispensed stored value media.

17. The method for exchanging coins at a self-service coin exchange machine according to claim 16, wherein the act of wirelessly transferring a value of the remainder of the exchange amount comprises transferring said value to a cell phone.

18. The method for exchanging coins at a self-service coin exchange machine according to claim 16, wherein the act of wirelessly transferring a value comprises transferring said value to an electronic wallet or electronic purse.

16-1. A method for exchanging coins at a self-service coin exchange machine, the method comprising:

receiving a plurality of coins in the self-service coin processing module;

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

determining from the total value an exchange amount;

dispensing currency from the currency dispensing device having a first portion of the exchange amount; and

wirelessly transferring a value of a remainder of the exchange amount to a portable electronic device identified by a user.

19. A self-service apparatus for exchanging currency for coins comprising:

a coin input region configured to receive a batch of coins from a user;

a coin discriminating device configured to determine a validity of each coin in the batch of coins and to determine a total value the batch of coins;

at least one coin receptacle configured to receive the valid coins from the coin discriminator;

a currency dispensing device configured to output currency to the user in an amount relating to the total value; and

a communication device configured to transmit information from the currency dispensing device to a local computer, to a remote computer, to a transaction terminal, or to any combination thereof, wherein the information is related to a status of the currency dispensing device or transaction data for the currency dispensing device.

20. The self-service apparatus for exchanging currency for coins according to claim 19, wherein the information comprises a number of bills dispensed from the currency dispensing device in a transaction.

21. The self-service apparatus for exchanging currency for coins according to claim 19, wherein the information comprises a number of bills dispensed from the currency dispensing device as measured from a predetermined point in time or predetermined state.

22. The self-service apparatus for exchanging currency for coins according to claim 19, wherein the information comprises of a number of bills remaining in the currency dispensing device.

23. The self-service apparatus for exchanging currency for coins according to claim 19, wherein the information comprises a number of bills of a specified denomination remaining in the currency dispensing device.

24. The self-service apparatus for exchanging currency for coins according to claim 19, wherein the information comprises a denomination of each bill dispensed from the currency dispensing device.

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

receiving in a stand-alone self-service coin exchange machine a plurality of coins;

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

dispensing bills from the currency dispensing module having a first value relating to the total value; and

dispensing a restricted use ticket from a ticket dispenser associated with the self-service coin exchange machine, the restricted use ticket having a second value relating to the total value,

wherein the sum of the first value and the second value is less than or equal to the total value.

26. The method for exchanging coins at a stand-alone self-service coin exchange machine according to claim 25, wherein the sum of the first value and the second value is less than the total value by an amount corresponding to a transaction fee.

27. The method for exchanging coins at a stand-alone self-service coin exchange machine according to claim 26, wherein the transaction fee comprises a percentage of the total value, a fixed fee, or an amount related to a user status or an amount related to both a user status and a total value.

28. The method for exchanging coins at a stand-alone self-service coin exchange machine according to claim 26, wherein the transaction fee is related to a proportion of the total value that is applied to the restricted use ticket as the second value or to an amount of the second value.

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

transmitting a third value to an electronic device, stored value card, or to a designated account or dispensing coin from the coin dispensing module having the third value,

wherein the sum of the first value, the second value, and the third value is less than or equal to the total value.

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

transmitting the second value associated with the restricted use ticket to a local computer, a remote computer, or both a local computer and a remote computer.

31. The method for exchanging coins at a stand-alone self-service coin exchange machine according to claim 30, further comprising:

conditioning use of the restricted use ticket on verification of the second value associated with the restricted use ticket by the local computer, the remote computer, or both the local computer and remote computer.

32. A self-service device for exchanging currency, tickets, or currency and tickets for coins comprising:

a coin input region configured to receive a batch of coins from a user;

a coin discriminating device configured to determine a validity of each coin in the batch of coins and to determine a total value the batch of coins;

at least one coin receptacle configured to receive the valid coins from the coin discriminator;

a currency dispensing device configured to output currency to the user in an amount relating to the total value;

a ticket dispensing device configured to dispense a restricted use ticket having a second value relating to the total value; and

a communication device configured to transmit information from the self-service apparatus to a local computer, to a remote computer, to a transaction terminal, or to any combination thereof, wherein the information is related to a status of the self-service device, a status of the currency dispensing device, a status of the ticket dispensing device, or transaction data for the self-service device,

wherein the sum of the first value and the second value is less than or equal to the total value.

33. The self-service device for exchanging currency, tickets, or currency and tickets for coins according to claim 32, wherein the information comprises a number of bills dispensed from the currency dispensing device in a transaction.

34. The self-service device for exchanging currency, tickets, or currency and tickets for coins according to claim 32, wherein the information comprises a number of bills dispensed from the currency dispensing device as measured from a predetermined point in time or a predetermined state.

35. The self-service device for exchanging currency, tickets, or currency and tickets for coins according to claim 32, wherein the information comprises of a number of bills remaining in the currency dispensing device.

36. The self-service device for exchanging currency, tickets, or currency and tickets for coins according to claim 32, wherein the information comprises a number of bills of a specified denomination remaining in the currency dispensing device.

37. The self-service device for exchanging currency, tickets, or currency and tickets for coins according to claim 32, wherein the information comprises a denomination of each bill dispensed from the currency dispensing device.

38. The self-service device for exchanging currency, tickets, or currency and tickets for coins according to claim 32, wherein the information comprises a second value associated with a restricted use ticket.

39. A device for permitting a retail store patron to convert loose mixed coins into an alternative form of funds which are generally acceptable and negotiable outside said retail store without requiring the patron to conduct a transaction at a cashier station within said retail store, the device comprising:

a hopper located remotely from cashier stations in a retail store, the hopper being configured to receive loose mixed coins from a store patron;

a coin counter for determining a total value of the loose mixed coins received in the hopper;

a funds dispenser operatively associated with the coin counter for substantially immediately delivering alternative funds directly to the patron without requiring the involvement of a store employee, the alternative funds being dispensed in an amount related to the total value,

the alternative funds being in a form generally acceptable and negotiable

(a) within the store if the patron chooses to conduct a transaction at a cashier station within the store, and

(b) outside the store if the patron chooses not to conduct a transaction at a cashier station within the store.

40. The device according to claim 39,

wherein the device is programmable to permit an owner, lessor, or manufacturer of the device to adjust a configurable setting for a service fee to be charged to a patron for converting coins, and

wherein the alternative funds dispensed to the patron have a value related to the difference between the total value and the service fee.

41. The device according to claim 40, wherein the service fee is related directly to the total value of loose coins received and counted.

42. The device according to claim 40, wherein the alternative funds comprise a check.

43. The device according to claim 40, wherein the alternative funds comprise a money order.

44. The device according to claim 40, wherein the alternative funds comprises currency bills.

45. The device according to claim 40, wherein the alternative funds comprises value data transferred from the device to a patron'"'"'s electronic wallet, electronic purse, PDA, cellular telephone, portable solid-state media, smart card, or magnetic storage media.

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

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

47. The method for exchanging coins at a self-service coin exchange machine according to claim 46, 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.

48. The method for exchanging coins at a self-service coin exchange machine according to claim 46, 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.

49. The method for exchanging coins at a self-service coin exchange machine according to claim 46, 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.

50. The method for exchanging coins at a self-service coin exchange machine according to claim 46, further comprising:

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

51. The method for exchanging coins at a self-service coin exchange machine according to claim 46, 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.

52. The method for exchanging coins at a self-service coin exchange machine according to claim 46, 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.

53. The method for exchanging coins at a self-service coin exchange machine according to claim 46, 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.

54. The method for exchanging coins at a self-service coin exchange machine according to claim 46,

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.

55. The method for exchanging coins at a self-service coin exchange machine according to claim 46,

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.

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

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;

receiving an input from a patron indicating one of a preferred status or non-preferred status;

assessing, responsive to the user input, a transaction fee associated with the input patron status, the transaction fee being higher for the non-preferred status than for the preferred status; and

dispensing bills from the currency dispensing module having an amount relating to the total value, less the transaction fee associated with the patron'"'"'s status.

57. The method of claim 56, wherein the act of receiving an input from a patron indicating one of a preferred status or non-preferred status comprises reading information from a card bearing data on a magnetic strip.

58. The method of claim 56, wherein the act of receiving an input from a patron indicating one of a preferred status or non-preferred status comprises accepting a code or other identifying information input by a user.

59. The method of claim 58, wherein the identifying information input by a use comprises biometric data.

60. A system for exchanging coins at a self-service coin exchange machine, the system comprising:

a self-service coin exchange machine disposed in a public area, the self-service coin exchange machine comprising a coin input region configured to receive a plurality of substantially simultaneously input loose coins, a coin processing device configured to determine a total value of the input coins and to discharge the coins to one or more coin receptacles, a currency dispenser configured to dispense currency for a value related to the total value, and a first communication device configured to transmit transaction related data or self-service coin exchange machine data; and

a computer associated with a second communication device and being configured to receive via the second communication device the transaction related data or self-service coin exchange machine data transmitted by the self-service coin exchange machine.

61. The system for exchanging coins at a self-service coin exchange machine according to claim 60, wherein the self-service coin exchange machine further comprises:

a user input device comprising at least one of a card reader, a biometric characteristic reader, a touch screen, a touch pad, a keypad, or a sensor or reading device configured to accept input data from a user'"'"'s magnetic storage device, optical storage device, solid state storage device, or electronic storage device.

62. The system for exchanging coins at a self-service coin exchange machine according to claim 60, wherein the self-service coin exchange device further comprises a third communication device configured to establish communication with a patron'"'"'s personal electronic device or data storage device and to transfer transaction value related data to a patron'"'"'s personal electronic device or data storage device.

63. The system for exchanging coins at a self-service coin exchange machine according to claim 60, further comprising:

a plurality of self-service coin exchange machines disposed in different public locations, the self-service coin exchange machines each comprising a coin input region configured to receive a plurality of substantially simultaneously input loose coins, a coin processing device configured to determine a total value of the input coins and to discharge the coins to one or more coin receptacles, a currency dispenser configured to dispense currency for a value related to the total value, and a first communication device configured to transmit transaction related data or self-service coin exchange machine data.

64. The system for exchanging coins at a self-service coin exchange machine according to claim 63, wherein the computer is a remote computer configured to receive the transaction related data or self-service coin exchange machine data transmitted by the self-service coin exchange machines.