Appreciated priest reading me last letter (6)

I believe the answer is:

prized

'appreciated' is the definition.
('prize' can be a synonym of 'appreciate')

'priest reading me last letter' is the wordplay.
'priest' becomes 'p' (ecclesiastical abbreviation).
'reading' becomes 'r' (one of the traditional three R's of education).
'me' becomes 'I'.
'last letter' becomes 'zed' (in the alphabet).
'p'+'r'+'i'+'zed'='PRIZED'

(Another definition for prized that I've seen is " Cherished".)

I've seen this clue in The Guardian.

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