Crossword Genius

Shabby but with pips! (5)

Ross

I believe the answer is:

seedy

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'shabby' is the definition.
(I've seen this before)

I cannot understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for seedy that I've seen before include "Unpleasant" , "Dilapidated" , "Sleazy, sordid" , "Not well turned out" , "run down" .)

I've seen this clue in the Sydney Morning Herald.
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