The present invention provides a coin dispensing apparatus for storing and dispensing coins through a dispensing slot that can be selectively controlled to prevent unauthorized access. A dispensing device dispenses coins through a coin passageway connected to a dispensing slot. A motor can activate the dispensing device to transport coins to the coin passageway which are in turn counted by a counting sensor unit. A control unit can provide signals for coordinating the operation of the motor and the activation of a shutting device for controlling access to the dispensing slot. A shutter can be spring biased and connected to a solenoid for automatically opening and closing the dispensing slot to prohibit intrusion of an exterior object into the coin passageway.