7 Coin Purse Free Knitting Patterns (and Paid Picks Worth Every Penny)

There is something wonderfully satisfying about knitting a coin purse. Unlike a sweater that demands weeks of your life, a coin purse can be finished in an afternoon. It uses very little yarn, it makes a thoughtful handmade gift, and it teaches skills that translate to bigger projects — colorwork, shaping, closures, and finishing. Whether you are a beginner looking for a quick confidence boost or an experienced knitter hunting for a productive way to use up scraps, coin purses hit a sweet spot that almost nothing else in the craft does.

This roundup brings together seven coin purse knitting patterns, mixing free options you can start today with a few paid patterns that offer extra detail, unique construction, and designs polished enough to sell at craft fairs or give as heirlooms. Read through the whole list before you cast on, because each pattern has its own personality, and the one that suits your yarn stash and skill level might surprise you.

Why Knit a Coin Purse?

Before diving into the patterns, it helps to think about what makes coin purses such a beloved small project in the knitting world.

First, they are stash busters in the truest sense. Most coin purses require less than 50 yards of yarn, and many need only 20 to 30. That means you can reach into the bin of leftover sock yarn or the drawer stuffed with partial skeins and actually make something finished and useful rather than yet another swatch you will never look at again.

Second, they are the ideal vehicle for learning new techniques. Want to try stranded colorwork but do not want to commit to an entire Fair Isle yoke sweater? Knit a colorwork coin purse. Curious about working in the round on double-pointed needles? A coin purse is the perfect scale. Trying to figure out how to attach a zipper or sew on a frame clasp? Better to practice on something small before you tackle a full tote bag.

Third, handmade coin purses sell reliably at markets and on craft platforms. They are priced accessibly, they photograph beautifully, and buyers appreciate that something so small required genuine skill and intention to make. If you are a maker who occasionally sells your work, having a pile of coin purses in your booth is never a bad idea.

Finally, there is the gift factor. A hand-knitted coin purse tucked into a birthday card or presented at the holidays communicates care without requiring an enormous time investment. You can make several in a weekend, personalize them with color choices, and have a meaningful gift ready for nearly anyone on your list.

A Quick Note on Materials and Tools

Most of the patterns in this list call for fingering or DK weight yarn, though a few work best in worsted. If you plan to knit a coin purse that will actually hold coins and survive daily use, look for wool or a wool blend with some nylon content — the same fibers used in sock yarn. They are durable, slightly elastic, and they hold their shape after felting if a pattern calls for that technique.

Needles will typically be small — US size 1 to US size 5 depending on the pattern — and you will often work in the round on double-pointed needles or using the magic loop method on a long circular needle. Have a tapestry needle ready for weaving in ends and, depending on the closure, you may also need a sewing needle, thread, a zipper, a kiss-lock purse frame, or a set of snap fasteners. All of that is covered within each pattern description below.

1. The Classic Ribbed Drawstring Pouch (Free)

This is the pattern that belongs in every knitter’s back pocket, the one you teach beginners and return to yourself when you want something meditative and reliable. A simple ribbed drawstring pouch works up quickly in almost any yarn weight, requires no special notions beyond a length of cord or I-cord for the drawstring, and produces a result that is both functional and charming.

The construction is straightforward. You cast on in the round, work a few inches of k2p2 or k1p1 ribbing, decrease evenly around the top, and thread a drawstring through the eyelets before gathering and tying off. Because ribbing has natural stretch, the pouch accommodates whatever you stuff inside without straining the seams.

To find a free version of this pattern, search Ravelry for “drawstring coin pouch knitting pattern” and filter by free. Several highly rated versions exist with thousands of projects logged. Look for one with clear photography of the finished object and notes about gauge, since a looser gauge will produce a softer but flimsier pouch while a tight gauge creates something sturdy enough to hold its shape on a hook or keychain.

Skill level: Beginner
Yarn: Any weight, but fingering or DK gives the neatest result
Needles: Match your yarn weight
Notions: Tapestry needle, cord or ribbon for drawstring
Techniques you will learn: Working in the round, simple decreases, creating eyelets

2. The Felted Coin Purse with Kiss-Lock Frame (Free)

Felted knitting is one of those techniques that feels almost magical the first time you do it. You knit something that looks comically oversized, toss it in the washing machine with hot water and agitation, and pull out a dense, sturdy, completely transformed object that looks nothing like knitting anymore. For coin purses, felting is particularly practical because it eliminates gaps between stitches, making the fabric nearly impermeable to small coins slipping through.

This pattern knits up fast in bulky wool — 100% wool is essential since synthetic fibers will not felt — and then goes through one or two hot wash cycles to tighten the fabric. Once the piece has dried and been shaped, you attach a metal kiss-lock purse frame using a tapestry needle and heavy thread or thin leather cord, stitching through the pre-drilled holes in the frame and through the top edge of the felted purse.

Kiss-lock frames come in a range of sizes and finishes, from antique brass to modern silver to matte black, and they are available at most craft stores and online. The satisfying snap of the clasp closing is one of life’s small pleasures, and recipients of felted kiss-lock coin purses tend to carry them for years.

Free versions of this pattern are available on several knitting blogs and on Ravelry. Search “felted coin purse frame knitting” and look for patterns that include notes on how much your knitting will shrink during felting, since that varies significantly by yarn brand and washing machine.

Skill level: Beginner to intermediate
Yarn: Bulky 100% wool (Lion Brand Fishermen’s Wool and Cascade 220 are reliable choices)
Needles: US 10 to US 11
Notions: Kiss-lock purse frame, heavy thread or cord
Techniques you will learn: Felting, basic shaping, attaching a metal frame

3. Colorwork Stranded Coin Purse with Zipper (Free)

If you have been eyeing Fair Isle and stranded colorwork patterns but feel intimidated by the scale of a sweater, this is where you start. A small two-color coin purse gives you enough real estate to practice carrying yarn across the back, maintaining even tension, and reading a colorwork chart — all in a project you can finish before the novelty wears off.

The pattern typically features a simple geometric motif — diamonds, checks, stars, or the classic Nordic snowflake — worked in two contrasting colors of fingering weight yarn. Once the body is complete, you sew in a small zipper along the top edge. Sewing in a zipper on a knitted project sounds intimidating, but at coin-purse scale it requires only a few inches of stitching and is very forgiving.

Look for a pattern that shows you how to hold two colors of yarn simultaneously (one in each hand, or both in the same hand using different methods) and offers guidance on how to manage floats — the strands of unused yarn that cross the back of the fabric. Floats that are too long can catch on fingers or coins, so patterns that instruct you to twist floats after a certain number of stitches are worth seeking out.

This style of coin purse is particularly popular among those who make items to sell, since colorwork pieces photograph strikingly and command a higher perceived value than solid-color alternatives.

Skill level: Intermediate
Yarn: Fingering weight in two contrasting colors
Needles: US 1 to US 2
Notions: Small zipper (4 to 6 inches), sewing needle and thread
Techniques you will learn: Stranded colorwork, managing floats, zipper installation

4. The Entrelac Coin Purse (Paid)

Entrelac looks impossibly complex from the outside — a fabric made of interlocking diagonal squares that resembles basket weaving — but the technique is more logical than it appears once you sit down and work through it step by step. This paid pattern is worth purchasing specifically because the designer walks through the construction with detailed written instructions and stitch-by-stitch diagrams that would be difficult to follow from a free pattern that assumes more baseline knowledge.

The finished coin purse has a luxurious, textured quality that makes it feel like an heirloom rather than a quick project. Worked in a rich single-ply wool or a smooth merino fingering yarn, the entrelac squares catch the light in a way that makes the purse look woven rather than knitted. A simple zipper or snap closure completes the design.

Paid patterns for entrelac coin purses are available on platforms like Ravelry, Etsy, and LoveCrafts, typically priced between two and six dollars. For that small investment you receive a well-tested pattern, often with access to a forum or comment section where other knitters have troubleshot common issues. If you are learning entrelac for the first time, the support structure of a paid pattern is genuinely valuable.

Skill level: Intermediate to advanced
Yarn: Fingering weight merino or single-ply wool
Needles: US 1 to US 3
Notions: Small zipper or snap closure
Techniques you will learn: Entrelac construction, picking up stitches, working short rows

5. The Mitered Square Coin Purse (Free)

Mitered squares — little squares built by casting on along two sides of a center point and decreasing down to nothing — are one of knitting’s most satisfying geometric constructions. They look complex and intentional but are actually very beginner-friendly once you understand the principle.

For a coin purse, two or four mitered squares are joined at their edges, seamed along the sides, and finished with a button and loop or a snap closure at the top. The construction is inherently flat, making this a good option if you prefer not to work in the round, and the resulting purse has a clean, structured shape that sits nicely in a pocket or bag.

This style lends itself beautifully to scraps, since each square can be a different color or even a different yarn weight if you adjust needle size accordingly. A set of three or four coin purses made from coordinating yarn scraps in mitered-square style makes an especially lovely gift set.

Free patterns are available on Ravelry and numerous knitting blogs. Search “mitered square purse knitting pattern” and look for versions that include schematic diagrams showing how the squares connect.

Skill level: Beginner to intermediate
Yarn: DK or worsted weight
Needles: US 4 to US 7
Notions: Button and elastic cord, or snap fastener
Techniques you will learn: Mitered square construction, seaming, flat knitting with decreases

6. The Mosaic Colorwork Coin Purse (Paid)

Mosaic colorwork — sometimes called slip stitch colorwork — is the entry point to two-color knitting for people who find stranded colorwork overwhelming. The technique works with only one color per row, slipping stitches from the previous row to create the illusion of two-color patterns without ever needing to carry yarn across the back. The result looks almost as complex as stranded colorwork but is significantly easier to execute and has a thicker, more padded texture.

This paid pattern uses mosaic colorwork to create a bold geometric design on the body of a coin purse, finished with a zipper or a decorative button. Because the fabric is slightly thicker than stranded colorwork, it is particularly durable and feels substantial in the hand.

Mosaic coin purse patterns on Ravelry and Etsy tend to be well-supported with large stitch charts and color suggestions. Many designers who specialize in mosaic work have developed excellent notation systems that make even complicated-looking patterns easy to follow. Expect to pay three to seven dollars for a pattern of this quality, and consider looking for designers who bundle several mosaic small accessories patterns together at a discount.

Skill level: Beginner to intermediate
Yarn: Fingering or DK weight in two contrasting colors
Needles: US 1 to US 5 depending on yarn weight
Notions: Small zipper or button and cord
Techniques you will learn: Slip stitch colorwork, reading mosaic charts, working two colors without stranding

7. The I-Cord Coiled Coin Purse (Free)

This is perhaps the most unexpected construction on the list, and it tends to stop people in their tracks when they see it at craft fairs. The body of the purse is made entirely from a long I-cord that is then coiled and stitched together into a flat circle for the base and a cylinder for the sides. The result has a texture that looks almost like coiled rope or wicker, and the construction means there is no right or wrong side — it looks equally good inside and out.

I-cord is worked on two double-pointed needles by casting on three to five stitches, knitting across, sliding the stitches back to the right needle without turning, pulling the yarn firmly across the back, and repeating. It takes a few minutes to get the rhythm but becomes meditative very quickly. For a coin purse, you might work eight to ten feet of I-cord before you begin coiling.

This free pattern is wonderful for using up single skeins of a yarn you love but do not have enough of for a larger project. In a variegated or self-striping yarn, the coiled I-cord creates a hypnotic color progression. The closure is usually a button and loop stitched to the top, keeping the construction as consistent as possible with the overall coiled aesthetic.

Search Ravelry or YouTube for “I-cord coiled purse knitting” and you will find free patterns as well as video tutorials that walk through both the I-cord technique and the coiling and stitching process. A tapestry needle with a large eye and matching thread or yarn for stitching the coils together is all you need beyond the basic materials.

Skill level: Beginner (the technique is simple, but the project requires patience)
Yarn: Fingering to DK weight; variegated yarns are especially effective
Needles: Two double-pointed needles, US 1 to US 4
Notions: Tapestry needle, matching yarn or thread, button
Techniques you will learn: I-cord, coiling and joining a continuous cord, button closure

Tips for Getting the Best Results from Any Coin Purse Pattern

Regardless of which pattern you choose, a few principles apply across the board.

Gauge matters more than you might expect at this scale. A purse knitted at the wrong gauge will be either too floppy to hold its shape or so stiff it will not close properly. Swatch if the pattern gives a gauge, and do not skip this step because the project is small — the project being small is exactly why gauge errors show up so clearly.

Finishing is everything at this size. A coin purse is handled constantly and examined up close. Take the time to weave in ends securely, block the finished piece if the yarn benefits from it, and sew closures on neatly. A few extra minutes of finishing work is the difference between a coin purse that looks handmade in the best sense and one that looks homemade in the unfortunate sense.

Choose your closure before you cast on. Zippers, frames, buttons, drawstrings, and snaps all affect the pattern in different ways. Make sure you have your hardware in hand before you start so you are not improvising at the end.

Consider lining your purse. A small piece of fabric sewn into the interior protects the stitches from wear and prevents tiny items from slipping through loosely knitted fabric. This is especially worth doing for purses that will hold coins, keys, or earbuds, which have a way of finding any gap in the structure.

Where to Find These Patterns

Ravelry remains the most comprehensive database of knitting patterns in the world, with robust filtering for free patterns, skill level, yarn weight, and construction method. LoveCrafts and Etsy are excellent for paid patterns from independent designers, and both