It's simple, but is it magic? If all you're doing is laying your jacket over his possessions, then taking them (without any sleight of
hand, practiced pickpocketing skill, or misdirection), where's the magic in it?
Why does it have to be difficult to be magic? It is the effect that counts, right? I've never used the technique tiggerkim is talking about, but it sounds like it could work if presented right. Some spectators probably won't even realize their wallet was laying on the counter to begin with. I'm not sure if I could make this technique work, but I don't see why someone couldn't if they are creative enough.
Derren Brown mentioned in one of his books that he had an effect in which he had three selected cards from spectators appear under their drinking glasses. He spent a lot of time trying to devise some difficult sleight to get the cards in the right place, but instead he ended up just putting them under the glasses...no sleight of hand, he just places them there (at the right moment, of course) and it achieved what he set out to do.