Sharpie Displayed with Nutating Rings

The electro-magnetic base allows a disc magnet to levitate and rotate.  The disc supports two rings and Sharpie.  The rings seem to roll around each other (nutate) with the single sharpie in the center.  The optical illusion is lost when three sharpies are located on the rings.

The design iterations started with just the rings, progressed through the three sharpies imbalance fail, and then to the single sharpie.

I first saw this illusion on Dave Garroway's NBC ‘Today Show'.  He was the first host of this TV show, c1954.  

The magnetic base (KINGLEV Magnetic Levitation Platform) cost $60 last year but now sells for ~$73 from Amazon.