The simplest way of defining a cash counting machine would be a device which would help counting cash, in form of currency bills or in form of coins. The cash counting machine is simple to use and anyone can do that. All you need to do is to feed in bills and coin in the cash counting machine and you would get the amount or even denomination batches in case there is any such feature in the machine that you have. The basic cash counting machine would be nothing but a mechanical way of counting currency bills and coins. With the passage of time and advancement of technology the design, features of the cash counting machine has developed to be more sophisticated. The newer or the latest models of cash counting machine would have electronic or digital components.
The result of the cash counting machine could be in form of the total amount of money that you feed into the machine or it could sort the coin & currency bills or even sorting the currency bills according to the denominations. This would be a great help in case where a large amount of coins and currency bills needs to be sorted. As sorting a huge amount of coins and bills would take a lot of time and the possibility of a human error can’t be ignored at the same time.
If you would look around to identify better with the cash counting machine, the closest would be the vending machine. As the vending machine is able to identify the coin that your put in and classifies , in the same way the cash counting machine functions to sort and count the currency bills and coins. Another example would be the ATM machines. When you request a certain amount without even specifying the denominations of the currency bills, the ATM machine would get the exact amount of cash out. These machines – vending machine, ATM machine and the cash counting machine for that matter are programmed to count and sort the currency bills & coins and it is because of the ability to identify and classify the various bills and coins. Clearly, when the use of cash counting machine started, these were only to count and know the exact amount of money. But now there are many other features that are made possible.
If you would look at the history of the cash counting machine, you would have to go back to 1920’s. It was the in Washington DC, the Federal Bill Counter Company started to use the cash counting machine for the first time. The reason that these came into existence was the need to count huge amounts of currency bills which used to consume a lot of time of the employees while counting them manually. Thus, to decrease the mistakes while manual counting and to increase efficiency of the employees the Federal Bill Counter Company started to use the cash counting machine option. The cashier would place the stack of bills on the cash counting machine and the machine would tell the amount as well as count the number of currency notes or coins in question. Before, the cashier would go for the second batch of bills; he would put a wooden block to separate this stack of bills from the once counted previously.
In 1962, about half a decade after, Tokyo Calculating Machine Works in Shinagawa came up with a better cash counting machine. This was relatively a newer and a better technology as compared to the one introduced in the 1920’s by the Federal Bill Counter Company. This new cash counting machine was primarily to count the banknotes and not for common use for that matter. This model cash counting machine was quite a developed one as compared to the one which was introduced in 1920’s. The speed at which this newer cash counting machine counted currency was really more than the old one. Not only that, the accuracy was more. These two reasons were enough to replace the old ones with these better & advanced cash counting machine option.
For about 20 years the cash counting machine developed in 1962 dominated the market until 1981. It was in 1981 the computerized cash counting machine option came into existence. The cash counting machine were capable of counting as many as 72,000 currency bills per hour. This was a considerable increase in the speed of the cash counting machine options that was there before these came in. This new computerized cash counting machine made every other cash counting machine option obsolete. This cash counting machine even made manual counting of bills and currency an ancient act for that matter.
For the above, you would get a fair idea about the history of the cash counting machine. The way the cash counting machine started to be and how these developed and lastly, the latest computerized cash counting machine options that we have can clearly point out that we have achieved quite a bit. And who knows that tomorrow we have even a more advanced cash counting machine to surprise us.