A coveted prize is an award or recognition that is highly sought after and valued. The two crossword solutions for the term 'coveted prize' are PLUM and NOBEL. A PLUM is a metaphor for something desirable, often used to refer to a job or position with high status. The Nobel Prize is one of the most prestigious awards in the world, given annually to individuals who have made outstanding contributions in the fields of physics, chemistry, medicine, literature, economics, and peace.