Magnetically encoded token and handling apparatus

Details Magnetically encoded token and handling apparatus Magnetically encoded token and handling apparatus

1978-04-06

1980-01-29

Rolla, Joseph J.

Check-actuated control mechanisms

Including noncontacting, relatively movable parts connected...

194 97A, 235449, 235493, 360 97, G07F 302

Patent

active

041857305

ABSTRACT:
Apparatus for use in vending machines and the like using a magnetically encoded token as the value medium. The token is a flat disc with a central aperture and a magnetic track around the periphery for carrying coded data, such as the token value. The apparatus accepts a token inserted in an entry slot and temporarily holds a valid token in spaced supports, which allows undersize tokens to drop through. A valid token is advanced over a read and write head and is rotated for scanning of the magnetic track and updating of the data relative to the current transaction. The token is then released into a collection box or, if there is any remaining value, the token is returned to the customer. Only tokens of the correct size, with the proper aperture and a magnetically encoded periphery will be processed. Undersize and otherwise counterfeit tokens are passed through and oversize tokens will not fit into the entry slot.

REFERENCES:
patent: 3562727 (1971-02-01), Abbott et al.
patent: 3575271 (1971-04-01), Constable et al.
patent: 3578124 (1971-05-01), Flum
patent: 3998309 (1976-12-01), Mandas et al.

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