Abstract: A ticket transport which is capable of rapidly reciprocating a ticket to permit a single transducer to read, write and/or verify information on the ticket. Upper and lower ticket guide plates define a ticket channel through which a ticket is propelled past an adjacent transducer by a plurality of rollers driven by a stepper motor. The upper ticket guide plate is hingedly mounted to permit access to the ticket channel. The stepper motor is controlled by special circuitry adapted to overcome the inductive time constant of the stepper motor to permit rapid acceleration, for example 0 to 50 inches per second in 30 milliseconds, of the ticket with minimum power dissipation. Sensors in the transport provide ticket position information. A combined magnetic head and pressure shoe assembly is provided for adjusting the thickness of the ticket channel.

Abstract: Apparatus for use in vending machines and the like using a magnetically encoded token as the value medium. The token is a flat disc with a central aperture and a magnetic track around the periphery for carrying coded data, such as the token value. The apparatus accepts a token inserted in an entry slot and temporarily holds a valid token in spaced supports, which allows undersize tokens to drop through. A valid token is advanced over a read and write head and is rotated for scanning of the magnetic track and updating of the data relative to the current transaction. The token is then released into a collection box or, if there is any remaining value, the token is returned to the customer. Only tokens of the correct size, with the proper aperture and a magnetically encoded periphery will be processed. Undersize and otherwise counterfeit tokens are passed through and oversize tokens will not fit into the entry slot.