Small coin journalist sniffed out (7)
I believe the answer is:
scented
'sniffed out' is the definition.
(scent can mean to sniff out)
'small coin journalist' is the wordplay.
'small' becomes 's' (abbreviation - e.g. clothes size).
'coin' becomes 'cent' (cent is a kind of coin).
'journalist' becomes 'ed' (short for editor).
's'+'cent'+'ed'='SCENTED'
(Other definitions for scented that I've seen before include "Having a fragrance" , "smelled a rat, perhaps?" , "sensed" , "Having pleasant smell" , "Sweet-smelling" .)