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.
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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.