dipsey noun4 •(slang) A deep-sea lead. •(dialect, US) A sinker attached to a fishing line. •[before a noun] (slang) Deep sea."Soundin' is a trick, though," said Dan, "when your dipsey lead's all the eye you're like to hev for a week. What d'you make it, Dad?" — 1897 •(dialect, US) A line having several branches, each with such a sinker, used in deep-sea fishing. formsdipseys