Abstract: A wallet system including a sealable item concealment pouch, a pouch securing strap assembly, and a key securing mechanism. The key securing mechanism is includes a securing chain and a spring biased key gripping assembly. The spring biased key gripping assembly is positioned within an open topped pocket en an exterior surface of the sealable item concealment pouch and includes a resilient channel member having a key insertion slot defined between first and second key gripping members, the first and second key gripping members being biased toward each other by first and second springs such that a key placed within the key insertion slot is gripped between the first and second key gripping members.