An early description of this trick, using the standard metal slide, appears in The Magicians' Own Book, Anon., 1857, also published as The Boy's Own Conjuring Book, Anon., 1859. See p. 33 of the former.
A close relative of this effect is that of a coin appearing in a nest of boxes. This appeared in W. Hooper's Rational Recreations Volume 4, 1774, p. 288. The method given by Hooper does not use the metal slide, but this aid was adopted at some later time for this trick.