AKRON, OHIO — Mike Burns will make you a bet: If you're over 40, you probably had one of his products a long time ago. And thinking about it may give you a bit of a warm fuzzy.

Burns is the third generation to lead production of the Quikoin coin purse, which was created in Akron in 1951. For the next three decades, the palm-size rubber coin carriers were all the rage — produced by the tens of millions. And they were typically handed out as freebies by restaurants, banks and other businesses that had the coin carriers manufactured bearing their company name or some memorable message.

Burns loves his company's place in history. The Quikoin was named as one of the top five promotional products of the 20th century by Promotional Products Association International, the industry trade group.

He knows tens of millions of people had one of the flat coin holders, or they remember their grandpa or dad toting one around.

"When you hand it to a baby boomer, they'll smile and rub it, or open it and smell it," Burns said. "Then they'll tell you a story, like how their Uncle Jim had one stuffed with quarters and would hand them out to the kids.

"People relive these moments when they see a Quikoin. It's an instant time-travel back."

Burns beams with pride that Frank Sinatra carried a Quikoin so change didn't jingle in his pocket when he was onstage.

But just as typewriters have been made virtually obsolete by computers, the popularity of Quikoins has subsided somewhat. We live in a pay-with-plastic society where even some vending machines accept credit cards. Coins, schmoins. Who needs them?

Plus, the Quikoin hasn't changed with inflation. The rubber, oval-shaped thingamabob holds about $3 in quarters and dimes comfortably. That was a lot of money in the 1950s.

Today, you'd need $24.28 to have the same buying power, but the Quikoin still holds only about $3. (Who'd want to carry around $24 in coins, anyway?)

Despite that, the Quikoin has persevered and has made a resurgence the last two to three years, Burns said. The product, which is sold entirely through distributors and is not available in stores, is perhaps the most recognized product made by Quikey Manufacturing Co. But it's just a small part of Quikey's business. The 250-employee company, still in Akron, makes a slew of small doodads, including rubber key chains, magnets, ID holders and luggage tags.

The Quikoin, however, is coming back in vogue, with 2 million now sold each year. It's flourishing in part because the coin gizmos conjure up old memories.

"It's a nostalgia item," Burns said.

The purses routinely sell among collectors for way more than their actual value. They cost about 70 cents each to buy in bulk. Last week, several were sold on eBay for $5-$7 each.

Quikoins are also bouncing back in popularity because people are using them in new ways. The company routinely hears stories about people who love using them to store earrings, guitar picks or condoms.