Nah @Jonathan...you would think the info would 'auto populate' to this forum, but, it does not!
The 'cut to the chase' direct answer...
Can the spectator himself hold the coin when signing? Well, of course, he could, but not really recommended.
Obviously, one side of the coin is fine...the other, well, not so much ;-) Your spectator could flip the coin over...Ooops
As I mentioned in another post...the video shows just a tiny little bit too much if you look closely.
I didn't purchase this, but made my own gimmicked quarter based on what I'd seen.
I tried this little initialed (not signed) coin bend/tear with $3.00 worth of quarters. For those of you not good at arithmetic, that would be 12 times ;-)
Surprisingly, this played very well. Just hand out the two remaining pieces to different people. Trying to put them back together will expose the secret.