System and method for authorizing transactions using a metallic coin having universally machine readable stored value indicia

A method for authorizing stored value account transactions at traditional point of sale devices, the method comprising:

• scanning machine readable indicia upon a metallic coin using a traditional point of sale device,
• wherein the machine readable indicia comprises a unique identifier with respect to the metallic coin, disposed in an ink layer upon a substantially transparent coat layer upon a first surface portion of one side of the metallic coin, and the first surface portion of said side comprises a less reflective matte finish relative to an opposing side and to a second surface portion of said side;
• determining an associated stored value account from the scanned identifier;
• extracting an amount of funds stored in association with the stored value account;
• and
• transmitting the amount of funds to the point of sale device.

A system for authorizing stored value account transactions at a traditional point of sale device, the system comprising:

• a graphical user interface configured to receive user selection input corresponding to an identifier unique to a stored value account and a logo unique to a class of stored value accounts;
• a metallic coin having a first side and a second side and further comprising:
• a first surface portion of the second side comprising a less reflective matte finish relative to the first side and a second surface portion of the second side,
• a substantially transparent coat layer upon the first surface portion of the second side,
• an ink layer comprising machine readable indicia upon the substantially transparent coat layer on the first surface portion, said machine readable indicia comprising the selected unique identifier, and non-machine readable indicia comprising the selected logo;
• and
• a hosted server functionally linked to the traditional point of sale device via a communications network and configured upon receiving the identifier as scanned from the point of sale device to
• extract stored value information corresponding to the stored value account, and
• transmit said information to the point of sale device.