Also known as a pocket pussy, the term "a coin purse" comes from if the chance ever arises when your pocket pussy is publicly displayed, you say "Hey, thats my coin purse, I just slip my change in that slit there." This term can be broadened to just a vagina too.
At the airport the other day, I got randomly screened, and I had to empty my pockets, and out came my pocket pussy. After an awkward stare from the security guards, I coughed and said, "Oh, it's a coin purse. Thanks for finding it."
by Teh Dr. Evil August 31, 2006