Look it up on Merriam-Webster if you want.

Yeah, checked the dictionary. Yes it is pronounced.

I partially agree. Vsauce also sides with me: https://www.youtube.com/watch?v=nb0YoRMXIY0&t=330s

Why would you pronounce "fivepence" as "fifpuh"

The hyphen at the end means that only the beginning of the pronunciation is shown. The full pronunciation would be ˈfī(f)pən(t)s ("figh(f)puhn(t)s") or ˈfipən(t)s ("fipuhn(t)s").

So then show that full pronunciation...?

I dunno. I think M-W does that to avoid repetition (which also saves space).

Plus, maybe "covfefe" is the clear winner? It's not a real word, but this page mentions that some of the suggested pronunciations have a silent V (scroll down to the "V" section): https://www.merriam-webster.com/grammar/mums-the-letter-when-letters-dont-say-a-thing