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My cousin was maybe a year younger than me, and it was in the 80s and our parents used to just leave us at our place in the summer when they were all working. I had recently discovered my dad's 2 boxes of men's magazines in the storeage room in the basement. Mostly Playboy, but some penthouse (the letters!) and the odd Hustler, etc. I had recently (so I thought) invented masturbation. I'd go down there and look at those mags any chance I got.
So one afternoon, I was hankering for a session, but he was over. I asked if he wanted to see something, and we went down to the storage room. We're looking at them, going through the pile of skin mags, commenting on the women, talking about girls from school. I'm hard as a rock and mention that to my cousin. He says he is too.
"I'm just gonna let it out, it's kinda uncomfortable" I said, and just undid my jeans and let my cock stand up. We kept looking at the mags some more, and I see him eyeing my dick. "Why don't you whip it out?" and I didn't have to say it twice.
Mine was a lot bigger, and I had a bit of hair, he didn't. I kept looking at the subject matter at hand, and casually started stroking, glancing frequently at him. He followed suite, really just copying me. It wasn't long and you could tell by his breathing he was getting ready to cum.
It turns out I was watching him have his first orgasm. Shiny pre-cum was running down his shaft and his breathing hitched and he looked both surprised and lustful at the same time. "Oh wow that feels amazing..." he said, his eyes glued to my dick, which is swelling and pulsing now, a river of pre-cum lubing my action. I came, a fairly good shot for a young guy, thick white rope, just one though. "GROSS! WHAT IS THAT?" he says and we both started laughing...
It was maybe another 6 months before he began jizzing too, but we kept it up regular. Afternoons playing Atari games punctuated by breaks in the storage room when we could. Sleepovers a plenty, all through school.