Heretofore various types of coin and currency changers have been known and utilized. However, most known changers have certain drawbacks with regards to the jamming of coin chutes, the necessity of stacking the coins in a magazine, non-positive payouts, jackpotting, and the inflexibility of the system to adapt to payouts of varying combinations of change for any given currency or coin.
Consequently, it is an object of the instant invention to present a changer utilizing an angled edge stacking coin chute which eliminates the inherent problem of jamming due to coin deformation or the insertion of an improper denomination of coins into a given chute.
Yet another object of the invention is to present a changer which utilizes a bulk hopper wherein coins may be loaded without stacking and from which coins may be uniquely transported for depositing into the angled edge stacking chute.
Still another object of the invention is to present a changer which utilizes a positive payout technique wherein accounting is made of the number of coins actually dispensed rather than the number of times which a coin dispensing mechanism has functioned.
Still another object of the invention is to present a changer utilizing an overpayment detector circuit which immediately terminates the dispensing cycle and inhibits further operation of the changer when a first coin, constituting an overpayment, is dispensed.
A further object is to provide an instantaneously data controlled change system for providing variable change combinations or amounts.
Yet a further object of the invention is to present a changer which is field programmable by a serviceman to preselect the particular combination of coins to be dispensed for any particular change-making operation so as to optimize the utility of the changer.
These objects and other objects which will become apparent as the detailed descripton proceeds are achieved by a positive payout coin and currency changer operative to dispense change from money of any of numerous denominations, comprising: first circuit means for determining the validity of the money for which change is desired and producing a signal indicative of the validity and denomination thereof; coin chutes, one for each denomination of coins to be dispensed, operative to receive coins from associated hoppers and maintain said coins therein, and second circuit means interconnecting said first circuit means and said chutes for receiving and responding to said signal to effectuate the release of respective predetermined numbers of coins from each chute and operative to sense the escapment of each coin from each chute.