Coin mechanism for vending machine for handling magnetic coins

A bulk vending machine comprising:

• a vending machine housing having a storage bin for storing bulk items, a dispensing mechanism operatively associated with the storage bin for dispensing a quantity of bulk items from said storage bin;
• a coin receiving mechanism mounted in said housing and operatively connected to said dispensing mechanism, said coin receiving mechanism comprising:
• a frame;
• a rotatable coin wheel rotatably mounted to said frame, said rotatable coin wheel having a coin reception slot into which a coin of proper denomination can be received;
• a coin storage area;
• a coin rejection slot aligned with respect to said coin reception slot so that a coin received in said coin reception slot is expelled from said coin receiving mechanism through said coin rejection slot;
• a magnet mounted adjacent to said coin wheel and operatively adapted to apply a magnetic field to retain a magnetic coin in said coin receiving mechanism so that said magnetic coin can be directed into said coin storage area;
• and
• a retainer located on a non-rotating portion of said coin receiving mechanism and relative to an initial position of the coin wheel so that when said coin wheel is in an initial position, said retainer supports a coin in said coin reception slot.

In a vending machine having a housing and a dispensing mechanism operatively associated with a storage bin for dispensing a quantity of bulk items from said storage bin, an improved coin receiving mechanism mounted in said housing and operatively connected to the dispensing mechanism, said coin receiving mechanism comprising:

• a frame;
• a coin reception slot defined at least in part by said frame and into which a coin of proper denomination can be received;
• a coin storage compartment;
• a coin rejection path defined at least in part by said frame and aligned with respect to said coin reception slot so that a coin received in said coin reception slot is expelled from said coin receiving mechanism through a coin rejection slot;
• a magnet mounted in proximity to said coin rejection path and operatively adapted to apply a magnetic field to prevent a magnetic coin from being expelled from said coin rejection slot;
• and
• a retainer pin mounted with respect to said coin reception slot as to temporarily retain a coin received in said slot.

A method of operating a coin receiving mechanism in a bulk vending machine comprising the steps of:

• receiving a coin in an initial position in a slot of the coin receiving mechanism;
• supporting the coin in the initial position;
• moving the coin from the initial position to a second position at which the coin is unsupported;
• applying a magnetic force toward in the coin in the second position;
• expelling a coin from the slot if the coin is not retained by the magnetic force;
• and
• accepting the coin for permitting dispensing of products if the coin is retained by the magnetic force in the second position.