Fresh old coin for island (3,6)
I believe the answer is:
new guinea
'island' is the definition.
(Pacific island)
'fresh old coin' is the wordplay.
'fresh' becomes 'new' (similar in meaning).
'old coin' becomes 'guinea' (historical type of coin).
'new'+'guinea'='NEW GUINEA'
'for' is the link.
(Other definitions for new guinea that I've seen before include "Island in the Western Pacific" , "Papua - - - -" , "Pacific island, the world's second largest" , "divided island" .)