This clip is from The Ed Sullivan Show for May 21, 1950. Well, no, it isn't. Ed's show was named The Toast of the Town until 1955 but by then everyone called it The Ed Sullivan Show no matter what its official title was. As we all know, Ed was an awkward host and in this spot, he proved he could also be an awkward stooge in a comedy magic act.
The comedic magician is Al Flosso, who was the idol of many young men (including Ricky Jay) who took up magic. Flosso was a star of vaudeville and of early television and he also owned and operated a magic shop in New York to which many of those aspiring wizards flocked. This is what he did for 60+ years and take note of the bit with the coins. That trick is called "The Miser's Dream" and I dunno if Mr. Flosso invented it but he sure made it famous…