Silk Corde Ascot Pattern

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Materials Required:
2 Spools FAIRKNIT Corde, Main Color (mc)
1 Spool FAIRKNIT Corde, Contrasting Color (cc)
3 Pkgs. FAIRKNIT Gold Coins
Straight Knitting Needles #3
Steel Crochet Hook #0

Gauge: 11 sts—2"
Starting at one end with mc, cast on 3 sts.
Row 1: k across.
Row 2: k1, inc 1 st in next st, k1. Continue in garter st (all k), increasing in 2nd st on every other row until there are 36 sts on needle. Work even for 15".
Next row: * k 1, slip next st on a holder, repeat from * across row. Rib in k 1 p1 on the 18 sts remaining on needle for 2". Place these sts on a holder, break corde. Slip the 18 sts from first holder onto needle, tie in cc and rib in k1 p1 for 2".
Next row: k sts alternately from needle and holder, replacing them in original order. Work even for 1". Starting at edge where increases were made, k1, k2 tog, k across to end of needle. Dec 1 st in this manner on every other row until 3 sts remain. Bind off. Finishing: Thread gold Coins onto a long piece of cc yarn, and, starting at one corner of cc k1 p1 strip, working through top of stitch only, crochet 1 sc in first st, slip a coin into position, work 1 sc in next st, * 1 sc in next st, slip coin into position and work 1 sc in next st, repeat from * around 4 sides as pictured. Break corde, fasten off.

Other great patterns from Fashion Stoles and Accessories, Book No. 17.

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I'm really not sure what the equivalent is. I've never heard of these before. Sorry. Maybe a google search or posting on a community message board would help?