Did you have in mind an actual raised lip to trap spills? You could get a similar effect by carving a border, beveling the inside edge, then using a background tool to make a 'catch pocket' for liquids. Of course, this depends on the design you're using.
If you want a non-slip bottom, I use cork sheeting from Michael's; the kind used to make bulletin boards. Once the tooling and any spot dying is done, I cut the cork slightly larger then the coasters and use Barge cement to glue it to the leather.
When the glue is set, I cut the cork close to the leather, then sand down until it's flush. I finish up with Edge Kote and burnish the edge with beeswax and a bone burnisher.
I use three coats of spray Neat-Lac over top to finish. Between the cork and the shellac, the coasters come out quite rigid without any further treatment.
Hope this was useful.