3 month cd rates. Charles Fey constructed the first slot machine in 1895. The original machine consisted of three spinning reels containing a total of five symbols: horseshoes, diamonds, spades, hearts and a bell (the Liberty Bell), from which this machine took its name. It cost 5 cents to play and the payouts worked as follows. The Slot Machine Is Born Fey’s machine had three reels and his symbols were the familiar diamonds, hearts, and spades, with the added horseshoes and a Liberty Bell. His iconic machine actually took. LIBERTY BELL SLOT MACHINE CHARLES AUGUST FEY BEGAN INVENTING AND MANFAC- TURING SLOT MACHINES IN 1894.