George is back? Catches small seals? (7)

I believe the answer is:

signets

'small seals?' is the definition.
(I've seen this before)

'george is back? catches' is the wordplay.
'george' becomes 'g'.
'back?' is a reversal indicator (I've seen 'back' mean this).
'catches' becomes 'nets' (netting is a kind of catching).
'g'+'is'='gis'
'gis' in reverse letter order is 'sig'.
'sig'+'nets'='SIGNETS'

(Another definition for signets that I've seen is " Small seals".)

I've seen this clue in the Sydney Morning Herald.

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