What does the cryptic crossword clue "Silver wrapped up in note for old priests (4)" mean?

This cryptic clue uses wordplay to arrive at the answer. Visit the page for progressive hints — definition, wordplay type, and a full step-by-step explanation.

Silver wrapped up in note for old priests (4)

Guardian Cryptic #27227 | 3 Down | 2017-06-19 flower

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