First money-counting machines: history
Money counting machines are a great ally for businesses that use cash, as they save a lot of time. There are automatic counters for both coins and banknotes, a great advancement to avoid having to calculate cash manually.
This tool is usually found both in stores and in banks or real estate, among many other places; we can also find them integrated into ATMs. It has been several years since it was invented until the point that we can find it in our day to day. Let's see what the history of the money counting machine is.
The first machines
The idea was launched in the 50’s, when the Japanese company Kokuei (now called Glory) developed the first coin counter. The aim of this invention was to facilitate and streamline the tasks of bank employees.
Its operation was simple: it had an inner disc that rotates thanks to a crank to transport the coins to the edge. The mechanism differentiates them by their size to make the count.
Meanwhile, other companies were developing similar ideas, such as De La Rue – which was renamed Talaris and Glory ended up acquiring it.
Evolution of money counting machines
Shortly after the coin counter came the banknote counter. In the beginning, it only counted the number of banknotes introduced, until the contraption evolved and incorporated the technology that allows accounting for the sum of money.
Over the years, money counting machines have evolved with the incorporation of new technologies, which complement their function and solve other problems that arose. Also, the speed and accuracy of the count improves with each update.
Currently there are many more manufacturers of money counters, such as Ratiotec, which offer various types of machines.
Current money counting machines and uses
An automatic coin counter consists of a small electronic hopper that, mechanically, accounts for the added money. It Separate the coins by diameter to be able to count them and thus avoid their manipulation.
Instead, you must place the wad in the banknote counter so that the engine - which is at the bottom - activates the roller. He turns and introduces the money into the machine so that a second roller can count it. The bills will fall into the stacker.
This tool, in addition to counting, offers other services. Some help to verify that the money entered is real, that is, it warns of counterfeits that may have been added. There are also other types that classify coins or banknotes, very useful when ordering the box for change, for example. There are even copies that accept multi-currency or that detect damaged or deteriorated banknotes and coins.
Another type of counter is the one that scans checks and vouchers to calculate their value, such as Epson's TM-S2000 model.
If you still have questions about money counting machines, contact the Logiscenter technical team and they will help you with everything you need.
