This is in for a full overhaul.
Update: A very nice machine that just needed a good cleaning. The mechanism was not too bad. It had a few jammed nickels in the clock that prevented it from cycling. The escalator was seized up with old grease. The entire machine, every nut, bolt, washer, and cotter pin was removed, cleaned, put back in, and adjusted. Works great now! Runs smoothly and pays out as it should.