I was racking my brain as to what I could realistically make in one hour and then one day I was having a drink and needed a coaster so I grabbed a piece of scrap leather. You can guess the rest.

Supplies

Leather (Horween)
Leather Marking Pen
Knife
Metal Straight Edge
Lighter
Edge Beveler
Leather Glue (Seiwa water based glue)
Wing Divider
Pricking Iron (3.85 mm)
Waxed Thread (0.6 tiger thread)
Stitching Needles
Sandpaper

Step 1: Cut Your Pieces

Figure out how big you want your coaster
Cut 2 pieces of leather with one slighter larger than the other.(I do this because I would prefer to trim off excess, rather than line up the edges perfectly )

Step 2: Glue and Trim

Apply glue to the smaller piece
Make sure to have good coverage along the edge of the piece, you don't want your coaster to spit or fray down the line
After glue has dried, trim off the excess

Step 3: Round Corners

I think round corners give the coaster a much more finished look so
Get something to help you draw a round corner, a quarter till do just fine
And cut on the line you drew
- Rather than making one big curved cut I make small straight cuts taking off a little bit at a time, sort of like cutting your nails

Step 4: Sand Your Edges

Give your edges a quick sand to smooth out the edges

Step 5: Bevel Edges

Use an edge beveler to bevel your edges
I also used sand paper to bevel areas that were harder to bevel such as the rounded corners

Step 6: Mark Stitching Line

Using a wing divider mark your stitching line
I set my wing divider to 3mm

Step 7: Punch Your Stitching Holes

Following the stitching line you just marked, punch out your stitching holes
- Making sure your prickling iron is perpendicular will ensure that the holes are aligned on the back side