Okay, I suppose I did know what that was. I just didn't know the name.
"Reportedly named after Queen Victoria's husband Prince Albert, who was supposed to have had one. In the Victorian era this piercing was called a dressing ring, and would be installed by a haberdashery (purveyor of small articles of dress). It was used to tie the penis to the leg to stop "unsightly bulges" in the gents trousers. Remember we are talking about a period in time where to display ones ankles was considered unthinkable. Queen Victoria is purported to have said this about his piercing - " It keeps his member smelling sweet ". She was referring to the ring keeping his foreskin back under the corona ( ridge ) of the penis and stopping the build up smegma."
That's great.