From the Dictionary of Nautical, University, Gypsy and Other Vulgar Tongues first published in 1859.
Ring Dropping: see Fawney.
Fawney or Fawney Rig: ring dropping. A few years ago, this practice, or Rig, was very common. A fellow purposely dropped a ring, or a pocket book with some little articles of jewellery, &c., in it, and when he saw any person pick it up, ran to claim half. The ring found, the question of how the booty was to be divided had then to be decided. The Fawney says, “if you will give me eight or nine shilling for my share the things are yours.” This the Flat thinks very fair. The ring of course is valueless, and the swallower of the bait discovers the trick too late.
(Would this work today? I have my doubts. But perhaps with the right Flat. I’d probably post pictures of the stuff on Facebook and try to find out who owned it so I could return it. 🙂
I do think a variation of the Rig was used in an old Nick Cage movie where he was a con man. Anyone know the name of the movie?)
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