Spring loaded combination electrical binding post

An electrical connection device configured for forming an electrical connection with a wire, a spade-type terminal, and/or a banana-type connector and configured for being disposed in a aperture formed in a panel, the device comprising:

• an elongated post body configured for being disposed in the aperture of the panel and having an upper portion adapted for forming electrical connections and a lower portion, the post body also having a first flange between the upper and lower portions for maintaining the post body on the panel, the lower portion having a first threaded section with a first diameter for being disposed through the aperture of the panel and a second threaded portion with a second diameter configured for being received within an aperture of a circuit board or ring terminal, the second diameter being smaller than the first diameter, the post body also having a longitudinal bore extending therein from the upper portion and a cavity formed in the upper portion, the upper portion also having one or more lateral bores extending laterally into the cavity for receiving the wire, the post body also having a second flange against which the spade terminal is secured, the post body also having a lateral slot extending therethrough and through the longitudinal bore;
• a first nut threadedly disposed on the first threaded section of the post body for securing the panel between the first flange and the first nut and thus securing the post body to the panel;
• a head moveably disposed in the cavity and the longitudinal bore of the post body and movable between a secured position and an open position, the head having a button portion disposed at least partially in the cavity and a shaft portion disposed at least partially in the longitudinal bore of the post body, the head having one or more lateral bores for receiving the wire, the lateral bores of the head aligning with the lateral bores of the post body when the head is in the open position for receiving the wire and misaligning when the head is in the secured position for securing the wire between the misaligned lateral bores to define a first electrical connection, the head having a longitudinal bore extending therein from the button portion and configured for receiving the banana-type connector to define a second electrical connection, the head also having a lateral bore extending through the shaft portion;
• a spring disposed in the longitudinal bore of the post body and bearing against the shaft portion of the head to bias the head in the secured position;
• an annular cap disposed on the button portion of the head and being colored to correspond to the intended use;
• an annular collar movably disposed around the post body and coupled to the head so that the collar moves between the secured position and the open position with the head, the collar being biased in the secured position by the spring, the collar having a surface opposite the second flange of the post body and against which the spade terminal is secured, a space formed between the second flange of the post body and the surface of the collar being configured for receiving a spade-type terminal, the surface and second flange securing the spade-type terminal therebetween when the collar is in the secured position to define a third electrical connection, the space for receiving the spade-type connector and the lateral bores for receiving the wire being in separate locations on the post body, the collar also having a lateral bore extending therethrough;
• and
• a pin disposed in the lateral bores of the collar and the shaft of the head for coupling the collar to the head, the pin also being movably disposed within the slot of the post body and moving therein as the collar and head move between the secured and open positions, to thereby provide for wire, spade-type terminal, and banana-type connector connections at the same time in separate locations and being able to secure and release the wire and/or spade-type terminal simply by depressing and releasing the head.