Patent ID: 6971147

Claim:
A money clip for holding banknotes having a first clasp portion and a second clasp portion for holding banknotes therebetween, the first clasp portion having a first magnetic portion including magnetic material and the second clasp portion having a second magnetic portion including magnetic material, wherein the first magnetic portion is moveable relative to the first clasp portion and the second magnetic portion between: a closed position whereby the interaction of the magnetic material of the first and second magnetic portions is such that there is a net force of attraction to hold the first and second clasp portions together; and an open position whereby the first and second clasp portions are released apart, the first clasp portion being further provided with an actuator portion for movement of the first magnetic portion, wherein the first and second clasp portions are hingeably connected so as to be pivotable relative to one another between open and closed configurations, and wherein a floating hinge is provided between the first and second clasp portions, the floating hinge including a hinge pin journalled in apertures of the first and second clasp portions, one of said apertures being in the form of a slot.