Known as a false take, one hand apparently takes a coin from the fingertips of the other hand
Originally called "tourniquet" in France, with the term "French Drop" coming into use by 1876 as seen within Modern Magic by Professor Hoffmann. It was also called "The French Vanish" in the 1941 Tarbell Course in Magic Volume One book.
Often attributed as being first described in 1584 by Reginald Scot within The Discoverie of Witchcraft, Scot's describes a coin vanish in which you retain the coin in the palm as you seem to drop it in the other hand (i.e. a false load, not a false take, as the french drop has become to be known).