Green’s Dictionary of Slang

sparkle n.

[appearances notwithstanding, this use has no link other than homonymic with the mid-15C–late 17C SE sparkle, a small ruby or diamond]
(UK Und.)

1. a diamond, a diamond ring.

Aberdeen Peoples’ Jrnl 5 Dec. 3/4: ‘He had a customer who wanted a “sparkle” like that, and he gave me £75’.
[UK]Sketch (London) 22 Feb. 18: Look at that there kettle [...] an’ them sparkles! (diamonds) .
[US]W. Scott Seventeen Years in the Und. 16: A small hand reaches out to a case of rings, nervous fingers lift a ‘sparkle’ from its velvet bed.
[UK]J. Manchon Le Slang.

2. jewels.

[US]W. Winchell Your Broadway & Mine 1 Dec. [synd. col.] The president [...] showered her with sparkles.
[US]H. Corey Farewell, Mr Gangster! 280: Slang used by English criminals [...] Sparkle – jewelry.
[UK]Thieves Slang ms list from District Police Training Centre, Ryton-on-Dunsmore, Warwicks 10: Sparkle: Jewellery.
[UK]D.S. Mitchell Killer Tune (2008) 45: ‘The sparkles’ [...] the trio of gold necklaces he’d given her as gifts - ‘are still gonna be kissin’ my skin’.

In compounds

sparkle bog (n.)

(N.Z. gay) a public lavatory where the soliciting is mainly done in the daytime.

[NZ]W. Ings ‘Trolling the Beat to Working the Soob’ in Int’l Jrnl Lexicog. 23:1 64: [A] significant number of sparkle bogs (public toilets cruised during the day) might provide him with lunchtime steamers (men who paid for sex).

3. (Polari) a light.

[UK]P. Baker Fabulosa 298/1: sparkle a light.
sparkle powder (n.)

(Aus.) cocaine.

[Aus]P. Doyle (con. 1969-1973) Big Whatever 27: Then the sparkle powder was broken out, and mandies for good measure.