Vanessa's father turned ring into coin (3,7)
I believe the answer is:
red admiral
'vanessa's' is the definition.
(I've seen this before)
'father turned ring into coin' is the wordplay.
I cannot really see how this works, but
'father' could be 'da' (da can mean dad) and 'da' is found in the answer.
'coin' could be 'd' (historical abbreviation for penny) and 'd' is found in the answer.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for red admiral that I've seen before include "Common butterfly" , "Vanessa" , "of interest to entomologists?" , "Species of butterfly" , "See butterfly" .)