Douglas Harper's Etymology Dictionary
"piercing that consists of a ring which goes through the urethra and out behind the glans," mid-20c., supposedly so-called from the modern legend that Albert of Saxe-Coburg-Gotha (1819-1861), prince consort of Queen Victoria, had one.\n
\nBut the term seems to be not older than bodyart maven Doug Malloy and his circle, and the stories about the prince may be fantastical inventions. Perhaps there is some connection with Albert underworld/pawnshop slang for "gold watch chain" (1861), which probably is from the common portraits of the prince in which he is shown with a conspicuous gold watch chain. Many fashions in male dress made popular by him bore his name late 19c.
Wikipedia
The Prince Albert (PA) is one of the more common male genital piercings. The PA is "a ring-style piercing that extends along the underside of the glans from the urethral opening to where the glans meets the shaft of the penis." The related " reverse Prince Albert piercing" enters through the urethra and exits through a hole pierced in the top of the glans.
While some piercers may choose to avoid the nerve bundle that runs along the center of the frenulum altogether, others may choose otherwise. The piercing can be centred if the bearer is circumcised. Otherwise, the piercing must be done off-centre so that the surrounding skin is able to reposition itself.
Albert, Prince Consort (1819–1861) was the husband and consort of Queen Victoria.
Prince Albert may also refer to:
Prince Albert is a federal electoral district in Saskatchewan, Canada, that has been represented in the House of Commons of Canada from 1908 to 1988, and since 1997.
Prince Albert is an American brand of tobacco, introduced by the R.J. Reynolds Tobacco Company in 1907. It has been owned since 1987 by John Middleton Inc.
Usage examples of "prince albert".
This spectacle was witnessed by Queen Victoria and Prince Albert in 1845.
Perhaps the most intriguing suspect is Prince Albert Victor Christian Edward, Duke of Clarence and Avondale, son of Albert Edward, Prince of Wales (later Edward VII), and grandson of Queen Victoria.
Raglan took me along, we went through the rigmarole of flunkeys with brushes that I remembered from my previous visit with Wellington, and we were ushered into a study where Prince Albert was waiting for us.
There were scenes of the anguish of a Very Wise Man (played by the film-maker's great and good friend, who chose unaccountably to do it in a Prince Albert coat and a flowing tie) who, in the culminating scene, had to explain to the twelve-year-old what Sex was, and what would be required of her.
Ring, ring, ring, long after the kids who call up to ask about Prince Albert in a can have gone to bed.