An adjective created by combining the words "New" and "Old". It is usually used to describe a store-bought item that has been obtained months before, but hasn't been used.
Clothing is a common example, usually depicting a shirt or pair of pants that has been hanging in your closet for months without being worn.
A common statement made while wearing a Nold shirt:
"I've had this shirt for months, but this is the first time I have worn it"
"This Nold shirt still wreaks of that 'New Shirt' smell"