Nothing left from the galleon (7)

I believe the answer is:

allgone

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'nothing left' is the definition.
I know nothing about this answer so I can't judge whether it can be defined by this definition.

'from the galleon' is the wordplay.
'from' indicates anagramming the letters (from the letters).
'galleon' anagrammed gives 'ALLGONE'.

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I've seen this clue in The Irish Independent and The Irish News.

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