Token of sovereignty could produce respect (7)
I believe the answer is:
sceptre
'token of sovereignty' is the definition.
'sceptre' can be an answer for 'sovereignty' (sceptre is a kind of sovereignty). I am unsure of the 'token of' bit.
'produce respect' is the wordplay.
'produce' indicates an anagram (I've seen 'producing' mean this).
'respect' with letters rearranged gives 'SCEPTRE'.
'could' is the link.
Can you help me to learn more?
(Other definitions for sceptre that I've seen before include "Part of the royal regalia" , "Ruler's staff" , "Staff of regency" , "Rod of office" , "Royal staff (paired with 2 down)" .)