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1.
Often used when the temperature outside is rather cold. Also used when eating or touching something cold.
Person 1: This ice cream is really cold, here, have a bite.
Person 2: Ahhhh! That ice cream is cold beans.
by OhBeans January 05, 2009
 
2.
To mean that something is cool.

Hey you got a new car, cold beans.
by omfg....wtf.... July 10, 2006