A coin receiving and dispensing machine includes a coin receiving and dispensing opening, a sensor unit provided in a coin passage and adapted for discriminating and counting coins of each denomination, a single coin storing box for storing acceptable coins, a coin storing cylinder for storing coins to be dispensed and a controller for controlling overall operation of the coin receiving and dispensing machine, and the controller is constituted so as to, prior to dispensation of coins, take out coins stored in the coin storing box, cause the sensor unit to discriminate and counts coins for each denomination taken out from the coin storing box, and store a predetermined number of coins in the coin storing cylinder for each denomination, the controller being further constituted so as to, when coins are to be dispensed, take out coins stored in the coin storing cylinder, cause the sensor unit to discriminate and count coins taken out from the coin storing cylinder for each denomination, and feed the coins to the coin receiving and dispensing opening based on the discrimination and counting done by the sensor unit, the controller furthermore being constituted so as to cause the sensor unit to discriminate whether or not coins deposited through the coin receiving and dispensing opening are acceptable and denominations of coins and count the number of the coins of each denomination, and store the coins deposited through the coin receiving and dispensing opening in the coin storing box.

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