Abstract: A cash replacement system using consumable transaction cards, each card comprising a body portion bearing multi-digit magnetically recorded validation and identification codes and a transaction portion divided into a plurality of transaction segments bearing the identification code and a denomination code, both magnetically recorded. A card reader senses the validation code and severs one transaction segment from the card for each transaction after checking the denomination and assuring presence of the required segment. Printed indicia on each card enable the user to determine the number and denomination of possible remaining transactions.

Abstract: A magnetic probe for sensing the passage of a moving magnetic element, comprising a radially magnetized cylindrical permanent magnet, formed of a flat sheet of elastomer bonded ferrite material magnetized across its smallest dimension and curled to cylindrical configuration, or formed in cup-shaped configuration. A magnetic collector core is mounted co-axially in one end of the magnet cylinder and has an axial pole piece of reduced diameter projecting to the other end of the magnet cylinder, and an electrical sensor coil encompasses the pole piece; the sub-assembly comprising the magnet, the core, and the coil is mounted in a cylindrical magnetic housing, with only high-reluctance flux paths between the inner surface of the permanent magnet and the housing.