The Legend of Zelda
The Magical Shield is the second, and best, shield available in The Legend of Zelda. It can be bought from any of the Item Shops that can be found across Hyrule. The price varies, from 160 Rupees to 130 Rupees to 90 Rupees. It blocks projectiles that were previously unblockable by the Wooden Shield. The Magical Shield can be swallowed by a Like Like if they attack Link and he does not break free in time. If Link does not break free in time, he will be forced to purchase a new one.
The Adventure of Link
According to the story, Link had a magical shield with him throughout his adventure. Link could "defend" by crouching down to avoid projectiles and other weapons. The artwork of Link's shield does depict the cross pattern on it.
"Good at penetrating defenses, but weak against impact."
Unlike the Magic Sword, although the Weapon Gallery blurb references The Legend of Zelda, it takes no visual cues from any sprites or art related to the Magical Shield in that game. Instead, it is a new design created with reference to the Magic Sword as seen in Soulcalibur II, itself based on art from the LOZ Instruction Booklet.