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Created by Steve Dusheck, who marketed a trick using it called “Slippery Sam” in the early 1970s.
A related, early relative was conceived by George Le Walke. This was described by Edward Bagshawe in The Le Walke Mysteries, 1921, p. 31. Le Walke's gimmicked coin consisted of a coin shell with half of its rim removed and a second full side of a thinned-down matching coin attached to make a hollow coin, open at one edge. This coin could be displayed on both sides while concealing another coin inside it.