A Deep Learning Framework for the Classification of Brazilian Coins

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Issue Date
2023-10-02
Authors
Acharya, Biswaranjan
Bostani, Ali
Mishra, Shakti
Nour, Amro
Rupapara, Viral
Satapathy, Santosh
Swain, Debabrata
Keywords
Type
Conference Presentations/Proceedings
Abstract
In this quickly developing world, automatic currency identification and recognition are crucial tasks. Several financial institutions, such as banks and hardware-based devices such as vending machines and slot machines, play an essential role in all monetary unification fields. Accurate coin recognition is essential in various contexts, including vending machines, currency exchange, and archaeological research. However, the distinctive visual characteristics of Brazilian coins, including variations in size, color, and design, pose significant challenges for automated classification. Most of the existing currency recognition systems are based on the physical properties of the currencies, such as length, breadth, and mass. At the same time, image-based methods rely on other properties like color, shape, and edge. This paper presents a novel deep-learning framework tailored to classify Brazilian coins. Our proposed deep learning framework leverages state-of-the-art convolutional neural networks (CNNs) to address these challenges. We introduce a Repetitive Feature Extractor Convolution Neural Network (RFE-CNN) model to recognize the currency faster and accurately. Our framework employs a multi-stage approach for coin classification. First, a pre-processing module handles coin localization and image enhancement to mitigate variations in lighting and background. Next, an RFE-CNN-based feature extractor extracts discriminative features from the coin images. We explore transfer learning from pre-trained models to enhance the model's generalization capability, given limited data availability. We used a comprehensive dataset of Brazilian coins, comprising various denominations, minting years, and conditions, to facilitate model training and evaluation. The dataset includes high-resolution images captured under diverse lighting and environmental conditions, ensuring robust model performance in real-world scenarios. In conclusion, our proposed deep learning framework offers a powerful and efficient solution for classifying Brazilian coins. The framework's adaptability makes it a valuable tool for recognizing coins from other regions with similar visual diversity and variability challenges. The proposed model has achieved a classification accuracy of 98.34% for the classification of Brazilian coins.
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