late 14c., "sheepshearer;" early 15c., "a barber;" c.1300 as a surname; agent noun from Middle English clippen "shorten" (see clip (v.1)). The type of fast sailing ship so called from 1823 (in Cooper's "The Pilot"), probably from clip (v.1) in sense of "to move or run rapidly," hence early 19c. sense "person or animal who looks capable of fast running." Perhaps originally simply "fast ship," regardless of type:
The early association of the ships was with Baltimore, Maryland. Perhaps influenced by Middle Dutch klepper "swift horse," echoic (Clipper appears as the name of an English race horse in 1831). In late 18c., the word principally meant "one who cuts off the edges of coins" for the precious metal.