This is Danny Archer's entry into the classic Insurance Policy effect, but it puts it in a different context, and also combines the venerable 52-on-1 gag into the revelation process. It is small and easy to carry in your shirt pocket, so you can be ready for some good, impressive comedy card magic whenever someone hands you a deck.
The spectator picks a card -- let's say, the 4 of clubs. The magi tries to find the card in the deck, and fails two or three times. He says he has somethign for just such occasions when his magical powers fail, and he takes a small "card" from his pocket, which says "Emergency Card" on the back. (The card is actually a folded up piece of paper, which you do not try to hide this fact from the audience.) Turning the "card" to face the audience, they see the 2 of Hearts. Wrong again! So the magi unfolds the emergency card to show... the 5 of Spades. Wrong-o again! he unfolds the paper again, and guarantees he has the card this time. he shows a JOKER -- it's wild so it can be any card. Groans from the audience signal their lack of dissatisfaction. So the magi says he really will show them the selected card on the next unfolding. He unfolds the paper yet again to show all 52 cards in miniature. "You card must be there, because I have them all!" When this does not satisfy the audience, he unfolds the paper one more time and voila... the 4 of clubs in super jumbo size.
Five minutes of fun, with only one sleight -- a simple card force. Will it wow your fellow magi at the club meeting? No. but for the people who pay the magic bills, the laymen who HIRE you, this one plays way beyond its simple mechanics. Nicely printed, but it will wear out after a couple hundred performances of folding and unfolding, so maybe get two!
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