Abstract: A storage and dispensing apparatus for articles, containers and the like includes two opposing vertical stacks of shelf assemblies pivotally mounted relative to support structure for rotation between an upwardly tilted receiving and storage position in a downwardly tilted discharge position. Each shelf assembly includes a transfer stop and transfer control for retaining the shelf assembly in the receiving position until the next lower shelf assembly is prepared to receive a container. Each shelf assembly can also include a receiving stop for retaining the shelf assembly in the receiving position until a container is fully disposed on the shelf surface. The shelf assembly can further include a discharge drive for overcoming static between a stored container and the underlying shelf surface during transfer operations. The apparatus automatically advances container downwardly through the stack to the lowest unfilled shelf for selective dispensing at the bottom of the stacks.