Why Multi-Space Parking Meters?

"My invention relates to meters for measuring the time of occupancy or use of parking or other space, for the use of which it is desirous an incidental charge be made upon a time basis." So begins Carl C. Magee's patent request on May 13, 1935, for the first coin-controlled parking meter.

Today, in the United States alone,about five million parking meters are collecting those "incidental charges". If we estimate a conservative average of $1 per day being deposited in each of those meters six days per week (no Sundays), we're talking about $1.565 billion per year. That's a lot of quarters!