Magnetically encoded token and handling apparatus
US4185730A · kind A · utility
Assignee
Inventors
Key dates
| Filing date | Apr 6, 1978 |
| Grant date | Jan 29, 1980 |
| Priority date | — |
| Expiry date | Apr 6, 1998 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG07F1/06
- WIPO fieldControl
- WIPO sectorInstruments
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.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.