A low cost patterned spinning disk is disclosed for achieving relatively rapid discrete optical phase shifts for an optical beam. The invention is particularly useful in a spectral domain optical coherence tomography system. The disk contains stepped patterns of different heights and/or refractive index distribution such that as it spins, an optical beam passing through or being reflected by the disk will experience different discrete optical phase delays. The disk can be operated as a phase shifter or it can be operated in synchronization with an intensity modulating chopper disk or a direct intensity modulation of the light source. The disk can also contain intensity modulating patterns such that both phase shifting and intensity modulation can be achieved at the same time. Various possible methods are also disclosed for the fabrication of the disk.