Flip, v. t. [imp. & p. p. Flipped (flĭpt); p. pr. & vb. n. Flipping.]
1. To toss (an object) into the air so as make it turn over one or more times; to fillip; as, “to flip up a cent”.
[1913 Webster]
As when your little ones
Do 'twixt their fingers flip their cherry stones. W. Browne.
[1913 Webster]
2. To turn (a flat object) over with a quick motion; as, “to flip a card over; to flip a pancake”.
[PJC]
3. To cause (a person) to turn against former colleagues, such as to become a witness for the state, in a criminal prosecution in which the person is a defendant. [cant]
[PJC]
4. (Finance) To resell (an asset) rapidly to make a quick profit. [cant]
[PJC]