Cryptic crossword clue
What highwayman held up, beginning to extract bit of gold 7

The most common and most likely answer to this crossword clue is the 7 letter word PISTOLE

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Buddy explains!

The straight part
We know that "bit of gold" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case bit of gold = pistole.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does PISTOLE mean?

PISTOLE noun
  1. A Spanish gold double-escudo coin of the mid-sixteenth century, or any of various gold coins derived from or based on this.

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