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A British slang word for the lady bits. It’s like saying your snatch is the treasure you keep hidden under your skirt. Used in old songs to tell girls to keep their hands on their ha'penny so they don’t get caught in a messy situation.
Mom: Keep your hand on your ha'penny, Molly, or you’ll end up with a broken heart and a crumpled dress.
A girl at the prom: I wish I had kept my hand on my ha'penny, I’d be home with my mom and not stuck with a guy who smells like a sock drawer.
A girl on a dating app: I’ve been told to keep my hand on my ha'penny, but I’d rather keep my hand on my phone and swipe left.