A coin denomination discriminating device for improving coin dispensing devices which incorporates components formed of non-magnetic material including a non-magnetic rotor having a coin receiving portion and a non-magnetic reference guide to guide coins from a storage coin holding bowl to a coin conveying device capable of selectively releasing coins of various denominations. Magnetic sensor units can be positioned along the coin movement path to provide characteristic signals representative of the coins independent of influence of metallic components in the transporting path. The non-magnetic members can be formed from wear resistant plastic material and relatively inexpensive magnetic sensors with coil and ferrite coils can be utilized adjacent the rotor.