History:
I saw Doug Henning perform a version of this effect on the Today show when I was a child and it absolutely blew me away. I was watching every move but still he managed to create magic. The entire effect can be found in JB Bobo's "Modern Coin Magic". Although it may have very well been from that source, I forget exactly where I first learned the mechanics behind it, but I immediately added it to my repertoire. Since then I have seen the basics presented in several publications. I have picked up and added what I believe to be improvements over the years. I offer my whole presentation to you.

Effect:
Two cards are chosen freely by the audience. The cards are ordinary and the magician's hands are unmistakably empty yet when the two cards are placed together, a coin appears from between them.

Props:
A coin and a deck of ordinary playing cards.

Handling & Presentation:
The coin is held in what is known as the finger palm (Fig. 1). This allows the right hand to rest naturally by your side. When the cards are spread for the spectator (s) to choose the two cards, the coin is held underneath the deck and remains invisible. The deck is set aside and the right hand drops naturally back to the side.

     The first card is received from the spectator, face down, thumb on top, first and second fingers beneath. This allows everyone to see the left hand empty. The card is moved to your right and at the same time your right hand comes up flattening out as the card is casually dropped into what appears to be an empty right hand (Fig 2). There's a bit of timing involved here, and it is somewhat bold, but do not be afraid, the result is a perfect illusion. The coin is now hidden underneath the card in the right palm. The second card is received and placed on top of the first in the same manner so as not to arouse suspicion.

     The left hand drags the cards and coin out to the right fingertips where the coin is pinched against the bottom of the cards. The cards are separated, one in the left hand, one in the right. Quickly but smoothly the faces are flashed to the audience. As this is done, the right fingertips drag the coin back to the edge of the card. A great deal of the face of the card can be seen and looks innocent. As the cards are turned back over the coin is slid back to the center of the card hiding it from view. This is an old ruse that I learned in an old children's magic book but is very effective here.

     When the cards are placed back together, the left card is laid on top criss-crossing the right card with the coin still pinched beneath (Fig 3). The cards are then shown one at a time. The left hand slides the top card off to the left turning it over so that the left palm and the face of the card can be seen (Fig 4). That card is replaced across the top of the other. In the same exact movement, the bottom card is removed to the right and turned over.