WO2020142478A1

WO2020142478A1 - Currency scanning and valuation device

Info

Publication number: WO2020142478A1
Application number: PCT/US2019/069046
Authority: WO
Inventors: Anthony P. FATTIZZI
Original assignee: Tsloc Productions, Inc.
Priority date: 2019-01-02
Filing date: 2019-12-31
Publication date: 2020-07-09

Abstract

A device is provided for identifying the form, place of origin, issue date and other identifying information for an item of currency, including both paper money and coins. The device uses the identifying information for comparison to value information for the currency. The, device provides an immediate determination of potential collector value without the need to further look up that information.

Description

CURRENCY SCANNING AND VALUATION DEVICE

Cross Reference to Related Application

[0001] The present application claims the benefit of US Provisional Patent Application No. 62/787,470, filed January 2, 2019. The disclosure within this provisional application is herein incorporated by reference.

Field of the Invention

[0002] A device is provided to identify form and place of origin of one or more currency items, including paper money and coins, and to further determine if the currency item is worth more than its face value.

Background of the Invention

[0003] Currency generally includes coins and paper money. Such currency items are often subject to retention and trading by collectors and enthusiasts. For various reasons, certain currency items may be considered more valuable to collectors and enthusiasts as compared to their face value. Many of the relatively more valuable currency items remain in circulation, with those handling the currency being unaware of the potential value if sold to a collector or enthusiast.

[0004] The present device is intended to assist the user in determining the value of a possessed currency item. There are no existing devices that perform this type of assessment in the field.

Summary of the Invention

[0005] The present invention relates a device for valuing a currency item. The device incorporates a scanner for scanning the currency item. The scanner is preferably an optical scanner. A processor determines identifying information from the scanned currency item. A display ma then show the identifying information for review and supplementation. A comparator uses the identifying information for the scanned currency item to compare to a database of currency information, with the database including the collector value of currency item. After review, the collector value or other identification information for the scanned currency item is displayed or otherwise provided by the device.

[0006] In a preferred form, the device is an app or software application that is retained on a computing apparatus, which is preferably a mobile phone or similar handheld computing apparatus. The computing apparatus preferably incorporates the scanner, processor and display.

[0007] The device may further include means to access the currency information database, which is preferably stored remotely from the computing apparatus. The access means may include a wireless communication from the computing apparatus to the stored database. The database may include both information related to both coins and paper money for multiple countries and regions.

[0008] The contemplated device preferably performs a method for valuing a provided currency item by first scanning the currency item to extract information expressed by the item of currency. Once scanned, the expressed information is processed and organized. The identifying information is then compared to a database of currency information with the database including the collector value of scanned currency item. This collector value is then displayed or otherwise provided to the user.

[0009] The device practicing the method is preferably a computing apparatus and may be in the form of a mobile phone, having an optical or other type of scanner capabilities. The database of currency information may be stored remotely from the computer apparatus and may be accessed by wireless communication.

[0010] Other features of the present invention and combinations of features will become apparent from the detailed description to follow, taken in conjunction with the accompanying drawings. Brief Description of the Drawings

[0011] For the purpose of illustrating the invention, the drawings show one or more forms that are presently preferred. It should be understood that the invention is not limited to the precise arrangements and instrumentalities shown in the drawings.

[0012] Fig. 1 shows a currency scanning device in the form of an app or application retained on a mobile phone or similar hand held computing apparatus.

[0013] Fig. 2 shows a user scanning an item of currency by means of an optical scanner incorporated into the apparatus.

[0014] Fig. 3 shows the scanned image of the currency has been received.

[0015] Fig. 4 shows the results of the currency scan, identifying the information to be analyzed, such as currency type, place of origin, date issued, etc.

[0016] Fig. 5 shows that the device has accepted the identifying information and is in the process of comparing the results with a database.

[0017] Fig. 6 shows a display of the information received from the database relative to the scanned item of currency, including any potential value of the currency item.

Detailed Description

[0018] In the figures, where like numerals identify like elements, there is shown an embodiment of a currency valuation device designated by the numeral 10. As shown in Fig. 1, the currency scanning device 10 is preferably in the form of an app or other software application that is retained on a hand held computing apparatus 12. The apparatus 12 as illustrated is contemplated to be any brand or model of mobile phone generally available on the commercial market. The apparatus may be another type of computing device, including a laptop computer, a desktop computer or another apparatus having a built in or peripheral scanning device (optical or otherwise), such as a camera.

[0019] Preferably, the device 10, via the phone or similar apparatus 12, will include or have access to a first database incorporating descriptive information for multiple types of currency. The first database may be incorporated into the device 10 or be retained separately on the apparatus 12. Alternatively, the database may be stored remotely and be accessed through a connection with the World Wide Web. The first database preferably includes publically available information regarding the form, face value and origin of multiple currency items.

[0020] As shown in Fig. 2, the device 10 uses the camera built into the apparatus 12 to scan an item of currency 14, which in the figure is a coin. Again, the currency items may be coins or paper bills, may be issued in the United States and by other countries, regions, etc. and may cover multiple years. The user holds the phone 12 to capture a quality image 16 of the currency item 14.

[0021] Once the device 10 receives the scanned image 16, the image is processed to extract identification information. In the example coin 14 as shown, the relative diameter, facing image, date, country issuing information, etc. are processable through the scanner by extraction or may be otherwise processed by comparison to know values and images. In the case of paper money, similar identification information may be scanned and recognized, including serial number, issue date, printed information, artwork etc. Again, this identification information may be stored in the device 10, retained on the apparatus 12, or accessed remotely through an internet or other connection.

[0022] Fig. 3 shows the acknowledgement of receipt of the scanned image 16 and reflects that the analyzation process has begun within the device 10. As shown in Fig. 4, after processing, the identifying data 18 for the currency item 14 is displayed on the screen of the apparatus 12. In the figure, the identifying data 18 is provided in outline form and is subject to review by the user. If the data 18 is incorrect or a portion is missing, it may be updated or the information may be supplemented through input by the user. Once the data 18 is considered complete, it is compared to a further database including known collector values for currency items. In Fig. 4, this transmission is accomplished by executing the“Calculate Value” radio button 20 on the screen of the apparatus 12. Other execution or input options may be incorporated or added as desired.

[0023] As shown in Fig 5, once the“Calculate Value” command is executed, the identifying data 18 is compared to the further database of valuation information. After the comparison, a determined value for the currency item is shown - see item 22 in Fig. 6. Other identification and descriptive information may also be provided from the database about the scanned currency item. A further interaction with the database may be possible to supplement or otherwise expand on the descriptive information, which may affect the potential value of the scanned currency item.

[0024] The device 10 performs a method for determining whether an item of currency has a collector value beyond the face value of the currency. It is contemplated that the user will be able to retain the information in a personal database. The personal database will preferably permit the user to catalog the information regarding the currency that has been scanned and valued. The device may also provide a connection to an auction website or the like so as to offer the currency item for possible sale.

[0025] The currency identification, descriptive and valuation information incorporated into one or more databases is preferably remotely stored. Access to the information may be made through cellular signals, WIFI or other communication methods. If the one or more databases are retained locally within the device 10 or on the apparatus 12, there is preferably a process provided to periodically (preferably automatically) update the locally retained information. Alternatively, the remote database is also updated regularly with current information. This database update can be performed in any known manner, using available information from published or private sources.

[0026] In addition to the above, access to the informational database(s) may be restricted to assist in monetizing the device, such as by using a pay wall or other subscription method. Connections to social media (e.g. Facebook, Twitter, Instagram, etc.) may also be incorporated to assist in sharing historical user scans with a community or to offer the currency items for sale. Connections to secondary databases may also be possible, to provide a range of potential value information.

[0027] By incoiporating the device 10 into a mobile phone or similar standalone computing apparatus 12, which includes communication, display and scanning capabilities, a user may quickly scan a possessed item of currency and determine on an immediate basis whether the currency item has a collector value. Access by the device to a valuation information on a updatable database solves the problem of a user buying one or more catalogs so as to manually look up the information and the eliminate the need to periodically update these catalog(s). The device is contemplated to be more convenient and to provide a relatively immediate determination of the value of a currency item. The device is further contemplated to encourage more users to become an enthusiast or collector, which would effectively increase demand and ultimately increase the value of collectable currency items.

[0028] The present invention has been described and illustrated with respect to one or more exemplary embodiments. It should be understood by those skilled in the art from the foregoing that various other changes, omissions and additions may be made therein, without departing from the spirit and scope of the present invention, with the scope of the invention being described by the foregoing claims.

Claims

Claims What is claimed is:

1. A device for determining the collector value of currency items, comprising:

a scanner for scanning currency items,

a processor for determining identifying information for the scanned currency items,

a display for showing the identifying information regarding the scanned currency item, and

a comparator for comparing the identifying information for the scanned currency items relative to a database of currency information, the database including the collector value of currency items,

the display further showing the currency database information for the scanned currency items.

2. A device as in claim 1 wherein the scanner, processor and display are included in a computing apparatus.

3. A device as in claim 2 wherein the computing apparatus is hand held by a user.

4. A device as in claim 3 wherein the computing apparatus is a mobile phone.

5. A device as in claim 2 wherein the currency information database is stored remotely from the computing apparatus.

6. A device as in claim 5 wherein the remotely stored database is wirelessly accessible by the computing apparatus.

7. A device as in claim 1 wherein the currency items include coins and paper money.

8. A device as in claim 1 wherein the scanner is an optical scanner.

9. A method for determining the value of currency items, comprising the steps of:

providing an item of currency,

scanning the currency item using a computing apparatus and extracting information expressed by the item of currency,

processing the extracted information to determine identify information for the scanned item of currency,

comparing the identifying information for the scanned item of currency relative to a remote database of currency information, the database including the collector value of currency items, and

displaying the database information on the computing apparatus for the scanned currency item.

10. A method as in claim 9 wherein the scanning, processing and displaying steps are performed on a hand held computing apparatus.

11. A method as in claim 10 wherein the computing apparatus is a mobile phone.

12. A method as in claim 9 further comprising the step of wirelessly accessing the remote currency information database.

13. A method as in claim 9 wherein the provided currency items include coins and paper money.

14. A method as in claim 9 wherein the scanning step is performed by an optical scanner.