Cutter tool assembly and system

A cutter tool system, comprising:

• a cutter tool assembly, including:
• a cutter head rotatable about an axis having an axial end face extending generally transverse to said axis with a recess in said end face, and a plurality of cutter blades carried by said end face along a periphery thereof;
• and
• an erasable non-volatile memory device disposed within said recess and affixed to said cutter head;
• and
• an interrogation assembly, including:
• an electrical processing circuit;
• and
• a probe coupled with said electrical processing circuit, said probe adapted to communicate with said erasable non-volatile memory device in a wireless manner.

A method of identifying at least one characteristic associated with a cutting tool, comprising the steps of:

• providing a cutter head rotatable about an axis and having an axial end face extending generally transverse to said axis with an axially extending recess, and a plurality of cutter blades carried by said end face along a periphery thereof;
• positioning an erasable non-volatile memory device within said recess;
• and
• affixing said erasable non-volatile memory device to said cutter head.