This is a vintage new old stock E-Z Magic item.
The performer offers a small change purse for examination. He then places a few coins inside the purse and snaps it shut. The purse is covered with a handkerchief and then thrown into the air where it magically vanishes along with the money inside!
All that remains is the handkerchief which can be examined by the spectators. Where the purse and coins have gone remains a mystery.