Metal penny found inside English tower (7)
I believe the answer is:
steeple
'tower' is the definition.
(steeple is a kind of tower)
'metal penny found inside english' is the wordplay.
'metal' becomes 'steel' (steel is a metal alloy).
'penny' becomes 'p' (short for pence).
'found inside' means one lot of letters goes inside another.
'english' becomes 'E' (abbreviation).
'steel' enclosing 'p' is 'steepl'.
'steepl'+'e'='STEEPLE'
(Other definitions for steeple that I've seen before include "Tall tower with spire on top of church" , "Pointed church tower" , "point" , "Tall building" , "Sort of chase" .)