Webster's Revised Unabridged Dictionary · 1913

Clipping

Clipping , noun

1.
The act of embracing. [Obsolete]

This practise was common when precious metals such as silver or gold were used in commonly circulated major coins, such as the dime, quarter, and higher denominations; scoundrels would remove small slivers of precious metal from the edges of many coins, eventually accumulating enough precious metal to be worth a significant sum, while passing on the clipped coins at their nominal values. After most governments discontinued coinage in silver and gold in the late 1900's, the practice became obsolete. The serrations, or milling, at the edges of coins was introduced to defeat the practice by making the result of clipping evident. Many coins continued to be made with milled edges even after the practice of clipping was rendered pointless by use of non-precious metals in coinage.

2.
The act of cutting off, curtailing, or diminishing; the practice of clipping the edges of coins.
clipping by Englishmen is robbing the honest man who receives clipped money. — Locke
3.
That which is clipped off or out of something; a piece separated by clipping; as, newspaper clippings.
4.
(Football) The act of hitting a player from behind, for the purpose of blocking. It is illegal in football because it can lead to injury to the blocked player, who cannot anticipate the action. A penalty of 10 yards or more may be assessed against the team of the offending player.