shave

from The American Heritage® Dictionary of the English Language, 5th Edition.

• intransitive verb To remove the beard or other body hair from, with a razor or shaver.
• intransitive verb To cut (the beard, for example) at the surface of the skin with a razor or shaver.
• intransitive verb To crop, trim, or mow closely.
• intransitive verb To remove thin slices from.
• intransitive verb To cut or scrape into thin slices; shred.
• intransitive verb To come close to or graze in passing. synonym: brush.
• intransitive verb To reduce by a small amount.
• intransitive verb To cut (a price) by a slight margin.
• intransitive verb To purchase (a note) at a reduction greater than the legal or customary rate.
• intransitive verb To limit the number of (points) scored by one's own team in an athletic contest by point-shaving.
• intransitive verb To remove the beard or other body hair with a razor or shaver.
• noun The act, process, or result of shaving.
• noun A thin slice or scraping; a shaving.
• noun Any of various tools used for shaving.

from The Century Dictionary.

• noun The act or operation of shaving; the being shaved.
• noun A shaving; a thin paring.
• noun Motion so close to something as almost to scrape or graze it; a very close approach; hence, an exceedingly narrow miss or escape: often with close or near.
• noun A knife with a long blade and a handle at each end, for shaving hoops, spokes (a spoke-shave), etc.; a drawing-knife, used by shoe-makers.
• noun In stock transactions, a premium or consideration paid for an extension of time of delivery or payment, or for the right to vary a contract in some particular.
• noun The proportion of receipts paid by a local theatrical manager to a traveling company or combination.
• noun One who is close or hard in bargaining; specifically, one who shaves notes.
• noun A trick; a piece of knavery, especially in money matters; hence, by extension, any piece of deception.
• In hat-making, to rub down the outside of (a felt hat), as with pumice or sandpaper.
• To remove a thin film of oxid from a metal surface, as of sheet-lead or lead-pipe, so as to expose a clean area to receive the solder in making a joint.
• noun A Middle English past participle of shave.
• To remove by a slicing, paring, or sliding action of a keen-edged instrument; especially, to remove by cutting close to the skin with a razor: sometimes with off: as, to shave the beard.
• To make bare by cutting off the hair, or the like: as, to shave the chin or head; also, to remove the hair or beard of with a razor: as, to shave a man: often used figuratively.
• To cut down gradually by taking off thin shavings or parings: as, to shave shingles or hoops.
• To skim along or near the surface of; pass very close to; come very near touching or grazing. Compare shave, n., 3.
• To strip; fleéce; cheat; swindle.
• Synonyms and Peel, Shave off, etc. See pare, transitive verb
• To remove the beard with a razor; use a razor in removing the beard or hair from the face or head.
• To be hard or extortionate in bargains; specifically, to purchase notes or securities at a greater discount than is common.

from the GNU version of the Collaborative International Dictionary of English.

• intransitive verb To use a razor for removing the beard; to cut closely; hence, to be hard and severe in a bargain; to practice extortion; to cheat.
• obs. p. p. of shave.
• transitive verb To cut or pare off from the surface of a body with a razor or other edged instrument; to cut off closely, as with a razor.
• transitive verb To make bare or smooth by cutting off closely the surface, or surface covering, of; especially, to remove the hair from with a razor or other sharp instrument; to take off the beard or hair of
• transitive verb To cut off thin slices from; to cut in thin slices.
• transitive verb To skim along or near the surface of; to pass close to, or touch lightly, in passing.
• transitive verb colloq. To strip; to plunder; to fleece.
• transitive verb [Cant, U.S.] to buy it at a discount greater than the legal rate of interest, or to deduct in discounting it more than the legal rate allows.
• noun A thin slice; a shaving.
• noun A cutting of the beard; the operation of shaving.
• noun Cant, U.S., Cant, U.S., Cant, U.S. An exorbitant discount on a note.
• noun Cant, U.S. A premium paid for an extension of the time of delivery or payment, or for the right to vary a stock contract in any particular.
• noun A hand tool consisting of a sharp blade with a handle at each end; a drawing knife; a spokeshave.