Sovereign government’s antique business getting popular? (4,4)

I believe the answer is:

gold coin

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'sovereign' is the definition.
I know nothing about this answer so I can't tell whether this works.

'government's antique business getting popular?' is the wordplay.
'government' becomes 'g' (abbreviation for government).
'antique' becomes 'old' (similar in meaning).
'business' becomes 'co' (short for company).
'getting' means one lot of letters go next to another.
'popular?' becomes 'in' ('in' can mean trendy).
'g'+'old'+'co'+'in'='GOLD COIN'

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I've seen this clue in The Hindu.

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