Green’s Dictionary of Slang

1. (Aus.) £1; A$2.00.

1967

‘Whisper All Aussie Dict.’ in Kings Cross Whisper (Sydney) xl 4/4: sovvy: A pound or two dollars, from sovereign.

2. a sovereign ring.

2005		P. Howard Curious Incident of the Dog in the Nightdress 241: Or are you keeping it to buy more focking sovvies.
2012		(con. 1980s) I. Welsh Skagboys 195: Two shaven-heided wideos wi gold chains n sovie rings.