Thank you ladies!
I love a good mystery...it does have a leather hangtag...the stamp is inside of the kisslock coin purse so its very hard to get in there to get a picture...but the numbers are stamped pretty clearly as 929 8015...
it has the dimensions as described earlier and is very reminiscent of the convertible clutch in shape and it has a detachable strap; however it is smaller and has spring latches, not the claws like on the convertible clutch.
I'll get a picture of the pockets, if the bag is from 86 these were definitely not for a cell phone! They are on the front of the purse visible when you lift the flap and are little more than half as tall as the exterior front of the purse, they are not equally sized; one double the size of the other.
Thanks again!
Another point of reference for you. This is my "shoulder purse", authenticated back in April, 2012:
http://forum.purseblog.com/coach-shopping/authenticate-this-coach-694619-629.html#post21574120
Hyacinth's authentication is in the post immediately following.
Not too many of these cutie-pies around. I bought mine in 2005 for $5.99!