Abstract: A token engraving apparatus comprising a turret movable through a path of travel between a blank token receiving station, an engraving station and an ejection station. Gravity causes blank tokens to fall from a plurality of tubular blank token holders into apertures, formed in the turret, at the blank token receiving station. The turret moves the blank tokens to the engraving station. A type head comprising a plurality of radially extending type bars moves independently of the movement of the turret so as to sequentially position the type of desired type bars above the token located at the engraving station. Located at the engraving station, above the tokens and the type ends of the type bars, is an electromechanical press. When energized the press moves the particular type bar located above the token downwardly against the upper peripheral edge of the token causing a character to be engraved therein. A type head locking mechanism locks the type head in position during engraving.