A Modern Magical Coat
The Coat of the Endless Fare could be any coat or clothing, from a spiffy sweater-vest to a bulky winter jacket bearing the emblem of you least favorite sports team. The magic is in one of the pockets. It is usually a hidden inner pocket that contains the magic, but not always. The pocket is crafted using both magical and psychic energies, to create an interesting form of pick-pocketing.
How it works
When you approach a bus or sit in a taxi, the pocket reads the mind of you and those around you to determine how much money is necessary for the transaction. The magic of the pocket will then transport the exact fare, from various locations, to your pocket.
History of Enchantment
From time to time, great ideas are had. Great minds dabble is great sciences, be they magical or more mundane. This magical experiment was created by the part-time sorcerer Dwight Edelweiss. An aging man, he has used magical rituals to extent his like into his early hundreds with the looks of a mere seventy-something. His health is great; he lived a full and happy life, though the recent passing of his wife has sobered him slightly he is still a jovial old tinkerer.
He has perfected many, now common, simple enchantments for modern devices over his years as a sorcerer. Egg-beaters that don't splash everywhere, books that remember what page you were on, records (and now compact discs) that are magically scratch resistant, and he even managed to program a VCR's clock once (something he will still brag about to anyone who will listen). Now, he is getting ready to move on to the great beyond. Life's next big adventure: Death. The Coat of the Endless Fare is basically magical theft, he knows this and doesn't care anymore. His view is that he has given enough of his time and energy to this world and its people that they can lend him a few quarters to ride the bus.
Plot Hooks (Or "How to get this Item into your game")
Inheritance - A Player, a distant relative of Dwight's, inherits his bookstore after his passing. This includes his workshop where he keeps his tricky trinkets and magical components. This is a good way to start a modern character on his or her way to be coming a spell caster. There may be no instructions with the coat, or anything else in the workshop, and it may go for many sessions without its magical purpose being discovered.
Parting Gift - Dwight has been attacked. It could be by a random mugger on the street, or some jealous rival in a carefully planned attack. If your players intervene with the use of unusual powers Dwight might tell them his coat is magical before he passes away.
My Mark on the World - Dwight's life has ended and his magical items have been passed on to magical family members. Hid daughter has taken to reverse enchanting many of his items to see how they worked. She will eventually publish a book of his new enchantments and spells for other magicians to use.