NAICS Code 423420-16 - Counting Machines (Wholesale)

Marketing Level - NAICS 8-Digit

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NAICS Code 423420-16 Description (8-Digit)

Counting Machines (Wholesale) is a subdivision of the Office Equipment Merchant Wholesalers industry that involves the wholesale distribution of machines used for counting and sorting currency, coins, and other small items. These machines are designed to increase efficiency and accuracy in counting large quantities of items, making them ideal for use in banks, casinos, retail stores, and other businesses that handle large amounts of cash or coins.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 423420 page

Tools

Tools commonly used in the Counting Machines (Wholesale) industry for day-to-day tasks and operations.

  • Currency counters
  • Coin counters
  • Coin sorters
  • Bill counters
  • Mixed bill counters
  • Coin wrappers
  • Coin bags
  • Currency straps
  • Coin tubes
  • Coin trays

Industry Examples of Counting Machines (Wholesale)

Common products and services typical of NAICS Code 423420-16, illustrating the main business activities and contributions to the market.

  • Bank cash handling equipment
  • Casino coin counting machines
  • Retail store currency counters
  • Vending machine coin sorters
  • Armored car company bill counters
  • Coin-operated laundry coin counters
  • Parking garage ticket machines
  • Amusement park token counters
  • Arcade game token sorters
  • Self-service coin counting kiosks

History

A concise historical narrative of NAICS Code 423420-16 covering global milestones and recent developments within the United States.

  • The history of counting machines dates back to the 17th century when the first mechanical calculator was invented by Blaise Pascal. The first counting machine was invented in the 19th century by James B. Johnson, which was used to count votes in the US Congress. In the 20th century, the development of electronic counting machines revolutionized the industry. The first electronic counting machine was invented in the 1950s by IBM. In the 1970s, the introduction of microprocessors led to the development of more advanced counting machines. In recent years, the industry has seen a shift towards more advanced technologies such as artificial intelligence and machine learning. In the United States, the counting machines wholesale industry has seen significant growth in recent years. The increasing demand for automation and accuracy in various industries such as retail, banking, and healthcare has led to the growth of the industry. The introduction of advanced technologies such as artificial intelligence and machine learning has also contributed to the growth of the industry. The COVID-19 pandemic has further accelerated the growth of the industry as businesses have increasingly adopted automation to reduce human contact. Overall, the industry has a promising future in the United States.