A coin dispensing apparatus, which ejects coins by squeezing them substantially chordally between an element on a rotor and an ejector, has a variable height rotor (3), an improved two-part coin ejector (10a, 10b). A optical sensor for detecting coins being ejected positive detects both the presence and absence of coins in a coin path. Also, a payout device comprising a first coin dispensing device (61) including a dispensed coin type detector and a second coin dispensing device (62). The first coin dispensing device (61) is used to store coins of plurality of large denominations and is used initially for paying out an amount. The second coin dispensing device (62) is used for a single low denomination coin type and coins are dispensed from the second coin dispensing device (62) after the first coin dispensing device has been used as much as possible.