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Begin by shuffling the deck, spreading the deck face up, and asking a spectator to pick a card at random. It doesn't matter that you can see what card they picked. Ask the spectator to sign the face of the card. As you hold the deck in one hand, turn the deck face down and ask the spectator to drop the card onto the back of the deck.
Cut the deck several times. Begin to thumb through the deck, faces up, and ask the spectator to point out their signed card when they see it. Continue to thumb through the deck, but the spectator will not find their card. Turn the deck face down, remove a card from your pocket, and drop it face down onto the back of the deck, announcing that it will be easier for the spectator to find their card if they are playing with a full deck. Turn over the top card to reveal it as the spectators card, complete with the signature.
The secret is this... a piece of double-stick tape and a double backed card. Put the double backed card in your pocket. This can be a gaffed card bought from a magic shop or two jokers glued face to face to create a double-backer. Put the small piece of double stick tape ( a type of tape that is sticky on both sides and can be bought at craft stores ), on the back of the top card on the deck. As you shuffle the deck to begin the effect, keep this top card in place. Turn the deck face up and ask the spectator to pick their favorite card. Make sure you either glimpse the card with the double stick tape on it's back or know beforehand the value of the card.
After the spectator has picked and signed the card, have them return it face down to the top of the deck, on top of the card with the piece of double stick tape. Carefully push these two cards together with your thumb to make sure the top card adheres to the card beneath. If they are squared up properly, they will look like one card. Flip the deck face up after cutting the deck several times. Begin to run through the deck, asking the spectator to find their signed card. They won't.
As you run the cards, look for the card with the double stick tape. Of course, it has the spectators card stuck to it's back. I would run the cards from hand to hand, putting the cards underneath one another -until- you run the double card. Stop at this point and make an off-hand comment, then continue running the cards from left hand to right, but placing the cards on top of the cards in the right hand, leaving the double card on the very bottom. Now, after you have run all the cards and showed the spectator that their card is not in the deck, flip the deck face down and the double card is now the top card of the deck.
Review what has happened, remove the double-backed card from your pocket with the comment about playing with a full deck, and drop it on top of the deck. Now, put your right index finger at the upper left corner of the deck and tilt the deck so you can catch a double lift without the spectator knowing. Lift and twist counter-clockwise. This will break the bond between the spectators signed card and the card underneath and allow you to flip the double backer and the signed card as one, revealing that the card you apparently put on the top of the deck was the signed card. You can now hand this card to the spectator and they will see nothing underneath except the back of a double-backed card, expelling any suspicion that you performed a double lift.