Answer:
You can spin, wheel and twist. But this thing can turn without moving.
Often held but never touched. Always wet but never rusts. Often bits but seldom bit. To use it well you must have wit.
It's been around for millions of years, but is never more than a month old. What is it?
I make you weak at the worst of all times. I keep you safe, I keep you fine. I make your hands sweat. And your heart grow cold. I visit the weak, but seldom the bold.
Long and think, red within, with a nail at the end.
I can only be played on a windy day