Avner,
Yes I have counted coins using a fiber optic photo-eye output to a PLC, but I have not counted bills. I know that bill counters use photo-eyes as well to count bills, but with a photo-eye you do not know the denomination of the bills.
When I counted coins they were the same coin, so there was no need for determining the value of the coin.
I am sure you could use a vision system and a PLC together if the value of each coin or bill was needed.
Mike