The most common and most likely answer to this crossword clue is the 4 plus 5 letter word GOLD MEDAL
I've seen this crossword clue in Financial Times
G
O
L
D
M
E
D
A
L
More clues leading to the result GOLD MEDAL
- Was first to collect 500 marks in aim to get top award
- The Winner Takes It All demo good: Ring, Ring going to get remixed
- Lass circling ancient sea gets first prize
- Award for first girl crossing ancient sea
- Fashion model glad to get first prize
- Yellow Sea aluminium forged most valuable pendant
- Fifty in odd game getting frantic over large prize for winning
- Prize mongrel male dog chewing ends of lead
- Fashion model glad to get top award
- Victor may get one girl to accept experienced master
Buddy explains!
The straight part
We know that "most valuable pendant" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case most valuable pendant = gold medal.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.