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1.
1.) To use one's pointy finger (digitus secundus) and middle finger (digitus medius) in a rubbing manner with the thumb to attend to one's genitals.

2.) The money gesture, only done with the meatus of the penis in the middle.

- Penny Rubbing is primarily done outside of the pants or from within a pocket.
Yo Rob! Quit PENNY RUBBING while you're cooking dinner.

As Rob listened to his girlfriend mindlessly dribble, he was penny rubbing, allowing proper aeration and ventilation to the folds of his scrotum.
by Rob....? Later. October 19, 2011