Dipsey \Dip"sey\, Dipsie \Dip"sie\, Dipsy \Dip"sy\, a. Deep-sea; as, a dipsey line; a dipsy lead. [Sailor's Cant] Dipsey \Dip"sey\, Dipsie \Dip"sie\, Dipsy \Dip"sy\, n. 1. A sinker attached to a fishing line; also, a line having several branches, each with such a sinker, used in deep-sea fishing. [Local, U. S.] 2. (Naut.) A deep-sea lead. [Rare]