Does it hold only magic pencils?
If the holder itself is where the magic happens, then using a card to remove it (as suggested by the manufacturer) might be giving away the secret.
But this item looks less magical than it does dangerous, even for 1890 (when this advertisement appeared). I think I’d rather take my chances running with scissors than taking a spill with this thing (and the sharpened pencil it’s holding) attached to my shirt.
Contrapuntalism 