It can be tipped … or collect tips

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Possible Answers:

HAT.

Last seen on: NY Times Crossword 24 Aug 21, Tuesday

Random information on the term “HAT”:

Jack Dennis McVitie (19 April 1932, Battersea, London – 29 October 1967, Stoke Newington, London), more commonly known as Jack the Hat, was an English criminal from London during the 1950s and 1960s. He is posthumously known for triggering the imprisonment and downfall of the Kray twins. He had acted as an enforcer and hitman with links to the Krays’ gang, The Firm, and was murdered by Reggie Kray in 1967.

Kray was arrested the following year for the murder, being found guilty and received life imprisonment at his trial in March 1969. He remained in prison until just before his death, which was in 2000. Ronnie Kray was imprisoned for life at the same time for the murder of George Cornell in 1966 and remained behind bars until he died of a heart attack in 1995.

McVitie married Marie Marney in Surrey in 1950. He fathered one son who was named Tony McVitie. The nickname Jack the Hat is said to be because of a trilby hat that he wore to cover up his hair loss. A known drug trafficker by the 1960s, he had been an associate of the Kray twins for some time and, although never a permanent member of The Firm, was regularly employed to commit various crimes on their behalf.

HAT on Wikipedia