A configurable transmit/receive multiplexed coil monitoring (CMCM) device is provided having a plurality of dual function I/O connections connectable to a plurality of coils. The CMCM device is configurable to selectively drive AC transmit signals to any of the plurality of dual function I/O connections, while simultaneously monitoring voltage and phase information received as AC voltages at the dual function I/O connections in a multiplexed manner. The CMCM device is further configured such that while a selected I/O connection is selected to receive voltage and phase information from a particular I/O connection, no AC transmit signal can be driven to that selected particular I/O connection. Embodiments may include a multiplexer and one or more receive circuits configured to receive and digitalize received AC signals for processing by a digital signal processor. Embodiments may also include selectable Class-D drivers connected to the plurality of I/O connection, wherein each Class-D driver may be configured to receive pulse width modulation (PWM) signals from a PWM circuit for amplification and output as an AC transmit signal.