Green’s Dictionary of Slang

satin n.

1. in the context of alcohol [its supposed smoothness].

(a) gin.

[UK]Hotten Sl. Dict. 220: Satin gin; ‘a yard of SATIN,’ a glass of gin. Term used by females on make-believe errands, when the real object of their departure from home is to replenish the private bottle.
[Aus]Sydney Sl. Dict. (2 edn) 7: Satin - Gin; a yard of ‘satin,’ a glass of gin.
[UK]F.W. Carew Autobiog. of a Gipsey 421: Making his way to the refreshment-bar [he] had purchased a bottle of his favourite ‘satin’.
[UK] press cutting in J. Ware Passing Eng. of the Victorian Era 51/1: That little bloke [...] put away six pots of four-half, three kervoortens of cold satin in a two-out brush, a ’arf kervoorten of rum, and a bottle of whisky.
[UK]‘William Juniper’ True Drunkard’s Delight.

(b) (US black) Italian Swiss Colony Silver Satin wine mixed with lemon juice.

[US]E. Folb Runnin’ Down Some Lines 187: Silver Satin with lemon juice was called Satin, shake-em-up, and WPLJ (white port and lemon juice).

2. (US black) death [the SE satin that lines a coffin].

[US]F.X. Toole Rope Burns 202: Standing over some sucker and laughing down on him as his life flickered [...] knowing that the chump will take your face with him to the satin.

SE in slang uses

In phrases

stand on satin (v.)

(Aus.) to be in an advantageous position.

[Aus]Teleg. (Brisbane) 16 July 4/2: True, they might in the event of loss have to pay a higher rate, but for this the higher rents might compensate; and if the system succeeded they would doubly profit, for they would share in the reduction of rates [...] In either event they ‘stand on satin’.
[Aus]Sun. Times (Perth) 5 Nov. 1/4: The clinah-killing propensities of a country candidate were responsible for his success [and] having made love to half the ladies in the electorate he stood on satin.