Estimated amount initially increased by two pence (9)

'estimated' is the definition.
The answer and definition can be both related to thinking as well as being past participle verbs.
Maybe you can see a link between them that I don't see?

'amount initially increased by two pence' is the wordplay.
'two pence' means two replacements for 'pence'.
'initially' suggests taking the first letters.
'increased' becomes 'raised' (raising is a kind of increasing).
'by' is a charade indicator (letters next to each other).
'pence' becomes 'p'.
'pence' becomes 'p'.
The initial letter of 'amount' is 'a'.
'p'+'p'='pp'
'raised' after 'pp' is 'ppraised'.
'a'+'ppraised'='APPRAISED'

Can you help me to learn more?