Mean person in nick, fenced-in area, extremely nasty (10)

I believe the answer is:

pinchpenny

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'mean person' is the definition.
(a mean or miserly person)

'nick fenced-in area extremely nasty' is the wordplay.
'nick' becomes 'pinch' (both can mean steal).
'fenced-in area' becomes 'pen' (I can't explain this - if you can you should give a lot more credence to this answer).
'extremely' means to remove the middle letters (only the extremes of the word are used).
'nasty' with its centre taken out is 'ny'.
'pinch'+'pen'+'ny'='PINCHPENNY'

'in' acts as a link.

Can you help me to learn more?

I've seen this clue in The Telegraph.

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