This paper presents a novel structure of contactless eddy current speed sensor for linear speed measurements of flat shape type conductive objects. The sensor consists of one excitation coil and two different antiserially connected pick up coils. The sensor is designed and analyzed with an air core and a magnetic yoke (core) to compare their drawbacks and merits at different excitation frequencies and low and high speeds. 2D and 3D finite element method and developed analytical methods are utilized for parametric analysis and design of linear eddy current speed sensor. The simulation results are compared with the measurements up to 15.5 m/s.