A toy launcher apparatus for discharging circular projectiles, the apparatus having a housing, lower and upper panels mounted to the housing, supports mounted to the housing, a cocking slide and a slide spring connected to the supports, a projectile receptacle connected to the cocking slide, release levers mounted to the housing, a guide wall mounted to the lower panel, a positioning wheel also mounted to the lower panel, and a trigger mounted to the housing. The lower panel includes a slot positioned parallel to the guide wall but off center relative to a center point of a load projectile. Beneath the lower panel is a rotatable launch arm connected to a torsion spring and a catch structure. The upper and lower panels are parallel to one another and spaced to receive a projectile. The projectile is loaded into the projectile receptacle when the receptacle is exposed during the time the launch arm and torsion spring are cocked by a user pulling rearward on the cocking slide. The launch arm is captured by the catch structure, and the cocking slide and the receptacle are also captured. After loading the projectile, the one of the release levers is activated to snap the cocking slide, the carriage and the loaded projectile to a predetermined launch position. When a user pulls the trigger the launch arm is rapidly rotated by the torsion spring through the slot where the launch arm impacts the loaded and correctly positioned projectile and causes the projectile to be discharge with a spin.