@MontereyJack,
Engineer wrote: It means "value highly". "Give much for" directly means "pay a lot for".
E's first sentence describes the meaning in this specific instance. His second sentence describes the literal meaning that this collocation has in other circumstances.
Yes, McTag and Setanta were also accurate in their descriptions but that doesn't mean E wasn't.
EDIT: I take some of that back.
"the meaning of the phrase every time i've encountered it was not about money,"
This is nonsense. It hardly has just a figurative meaning.