That is an Altenator Unit. In a Dixieland it is used to interrupt a score counter step-up coil every other pulse providing for doubling the score or in the case of a Dixieland to double the already doubled score. You didn't mention what game you have that in. It could be an operator add-on although from the picture at least some of the wiring looks original to the game.

I didn't see that. I see half of it. It's blocked on my page by the "Topic Gallery"

Is the idea to convert the game from taking a nickel to taking a quarter and keeping the same value per credit? If so, five is going to be an odd number for this purpose-maybe! I have not seen the schematic for this game but as with things mechanical there will always be a number of ways to do this. One way would be to start the game (lite a card) and then add 4 credits to the score meter. Another way is to coin the game and have it just "run" until it advances five features (this was a common mod to Lotta Fun's which were converted to Single Coin's by lighting all six cards from one coin). It's also possible to have the coin add 5 credits directly to the score meter. I'm sure there are others. I'm not familiar with Laguna Beech but the circuit logic is all the same.

BingoPodCast is right. This will require some modifications and will depend on how determined you are to have this set-up. The Bally method will be at least the addition of a multi-play relay and a cam with 4 lobes per cycle. This will give you one game feature and 4 credits on the score meter. This can be done but if you are not bingo circuit savvy then you will need help. So if you're still determined, look at a schematic for a game as BingoPodCast says after 1970 that has this feature and make a parts list.

A super simple way would be If you have a friend who can design a small circuit board to convert the single pulse from the coin switch to output five 12vdc pulses to a 12vdc relay with up to 4 switches on it. The relay would then be used to pass 48vac to the score meter 5 times while another switch would simultaneously pull in the anti-cheat relay. This is basically how a bill acceptor is used on an EM game.

You seem determined to have this game work with 5 plays for a quarter. But if your restoring or fixing up the game for use at home is this really necessary? Look, this can be done with some effort but for home use it’s the same amount of steps: 1) Press the coin switch five times or 2) Press the coin switch once and press the credit button four or five times. Why is this so important for you to have the game set up this way?

Or is it that you just like that coin insert plate which I have to admit is pretty sweet.

BTW, the coin chute would have to be one either for nickels or quarters.......or dimes if that’s your desire. Only jukebox mechs and soda machine mechs accept multiple coin demoninations.