The Collaborative International Dictionary of English v.0.48:

Stingy \Stin"gy\, a. [Compar. Stingier; superl. Stingiest.]
   [Probably from sting, and meaning originally, stinging;
   hence, biting, nipping (of the wind), churlish, avaricious;
   or cf. E. skinch.]
   Extremely close and covetous; meanly avaricious; niggardly;
   miserly; penurious; as, a stingy churl.
   [1913 Webster]

         A stingy, narrow-hearted fellow that had a deal of
         choice fruit, had not the heart to touch it till it
         began to be rotten.                      --L'estrange.
   [1913 Webster]