Pence put up as tribute (6)
I believe the answer is:
praise
'tribute' is the definition.
(thesaurus)
'pence put up' is the wordplay.
'pence' becomes 'p'.
'put up' becomes 'raise' (synonyms).
'p'+'raise'='PRAISE'
'as' acts as a link.
(Other definitions for praise that I've seen before include "Speak well of" , "flatter" , "Cry 'hallelujah'" , "Be aware of (something)" , "Speak approvingly of" .)