Currency-counting machine
Encyclopedia
A currency-counting machine is a machine
that counts money
—either stacks of banknote
s or loose collections of coin
s. Counters may be purely mechanical or use electronic components. The machines typically provide a total count of all money, or count off specific batch sizes for wrapping and storage.
Currency counters are commonly used in vending machines to determine what amount of money has been deposited by customers.
In some modern automated teller machine
s, currency counters allow for cash
deposit
s without envelope
s, since they can identify which bills have been inserted instead of just how many. The user
is given the chance to review the automatic counter's idea of the quantity and kinds of the inserted banknotes before the deposit is complete.
s only provide a total number of notes in the supply hopper. More advanced counters can identify different bill denominations to provide a total currency value of mixed banknotes. Some banknote counters can also detect counterfeit
bills either magnetically and/or using blacklight. Blacklight (UV) based detectors exploit the fact that in many countries, real banknotes have fluorescent symbols on them that only show under a black light. Also, the paper used for printing money does not contain any of the brightening agents which make commercially available papers fluoresce under black light. Both features make counterfeit notes both easier to detect and more difficult to successfully produce.
A stack of bills are placed in a compartment
of the machine, and then one bill at a time is mechanically pulled through the machine. By counting the number of times a beam of light is interrupted, the machine can count the bills. By comparing an image of each bill to pattern recognition
criteria, the machine can figure out how much genuine money was placed in the compartment.
A typical counter of presorted coins uses a bowl with flat spinning disc at the bottom to distribute coins around the bowl perimeter. An opening in the edge of the bowl is only wide enough to accept one coin at a time. Coins either pass through a light-beam counter, or are pushed through a spring-loaded cam that only accepts one coin at a time.
Machine
A machine manages power to accomplish a task, examples include, a mechanical system, a computing system, an electronic system, and a molecular machine. In common usage, the meaning is that of a device having parts that perform or assist in performing any type of work...
that counts money
Money
Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past,...
—either stacks of banknote
Banknote
A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. In addition to coins, banknotes make up the cash or bearer forms of all modern fiat money...
s or loose collections of coin
Coin
A coin is a piece of hard material that is standardized in weight, is produced in large quantities in order to facilitate trade, and primarily can be used as a legal tender token for commerce in the designated country, region, or territory....
s. Counters may be purely mechanical or use electronic components. The machines typically provide a total count of all money, or count off specific batch sizes for wrapping and storage.
Currency counters are commonly used in vending machines to determine what amount of money has been deposited by customers.
In some modern automated teller machine
Automated teller machine
An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
s, currency counters allow for cash
Cash
In common language cash refers to money in the physical form of currency, such as banknotes and coins.In bookkeeping and finance, cash refers to current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately...
deposit
Deposit account
A deposit account is a current account, savings account, or other type of bank account, at a banking institution that allows money to be deposited and withdrawn by the account holder. These transactions are recorded on the bank's books, and the resulting balance is recorded as a liability for the...
s without envelope
Envelope
An envelope is a common packaging item, usually made of thin flat material. It is designed to contain a flat object, such as a letter or card....
s, since they can identify which bills have been inserted instead of just how many. The user
End-user
Economics and commerce define an end user as the person who uses a product. The end user or consumer may differ from the person who purchases the product...
is given the chance to review the automatic counter's idea of the quantity and kinds of the inserted banknotes before the deposit is complete.
Banknote counters
Basic banknote counterBanknote counter
A banknote counter is a device designed primarily to accurately count a quantity of banknotes. Additionally, a banknote counter may sort banknotes into batches and check for damaged or counterfeit notes.- History :...
s only provide a total number of notes in the supply hopper. More advanced counters can identify different bill denominations to provide a total currency value of mixed banknotes. Some banknote counters can also detect counterfeit
Counterfeit money
Counterfeit money is currency that is produced without the legal sanction of the state or government to resemble some official form of currency closely enough that it may be confused for genuine currency. Producing or using counterfeit money is a form of fraud or forgery. Counterfeiting is probably...
bills either magnetically and/or using blacklight. Blacklight (UV) based detectors exploit the fact that in many countries, real banknotes have fluorescent symbols on them that only show under a black light. Also, the paper used for printing money does not contain any of the brightening agents which make commercially available papers fluoresce under black light. Both features make counterfeit notes both easier to detect and more difficult to successfully produce.
A stack of bills are placed in a compartment
Compartment
In heraldry, a compartment is a design placed under the shield, usually rocks, a grassy mount , or some sort of other landscape upon which the supporters are depicted as standing...
of the machine, and then one bill at a time is mechanically pulled through the machine. By counting the number of times a beam of light is interrupted, the machine can count the bills. By comparing an image of each bill to pattern recognition
Pattern recognition
In machine learning, pattern recognition is the assignment of some sort of output value to a given input value , according to some specific algorithm. An example of pattern recognition is classification, which attempts to assign each input value to one of a given set of classes...
criteria, the machine can figure out how much genuine money was placed in the compartment.
Coin sorter
A coin sorter is a device which sorts a random collection of coins into separate bins for various denominations. Coin sorters are typically specific to the currency of certain countries due to different currencies often issuing similarly sized coins of different value. A sorter usually makes no attempt at counting, providing only collections of uncounted coins to be separately passed through a counter.Coin counter
The phrase coin counter may refer to a device which both sorts and counts coins at the same time, or only counts presorted coins that are all the same size.A typical counter of presorted coins uses a bowl with flat spinning disc at the bottom to distribute coins around the bowl perimeter. An opening in the edge of the bowl is only wide enough to accept one coin at a time. Coins either pass through a light-beam counter, or are pushed through a spring-loaded cam that only accepts one coin at a time.
External links
- Counts and Wraps Coins Quickly and Easily, Popular SciencePopular SciencePopular Science is an American monthly magazine founded in 1872 carrying articles for the general reader on science and technology subjects. Popular Science has won over 58 awards, including the ASME awards for its journalistic excellence in both 2003 and 2004...
, February 1919, page 68 (via Google Books) - CoinCounterDatabase wiki — United States