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1.
Similar in meaning to chinny reckon. Used to express disbelief, always with an exaggerated motion of one hand on the chin, as though shaving/stroking an imaginary beard. It means that whatever the first speaker has said is so fanciful or impossible that another impossible thing must be true.
Person A: My grandfather was King Henry VIII.
Person B: Really? And I'm shaving my green beard.
by Bobbity Bob Bobbert August 18, 2011