You must have heard your Grand parents & may be your parents saying that we used to get candies in 1 Pie, Icecream in 1 Anna & you must be asking them what is Pie,Pice & Aana ?
Today with growing expenses these currency are no longer used in India but these currency have antique value.The amazing fact about the old currency is that the cost of coin was more than the face value of coin because these coins were made of Copper, Silver & Brass & in case of current coins the face value of coin is more than the actual cost of coin since all the coins are made of Steel.
Pie was considered as the smallest currency. It is 1/12 of a Aana & 1 Aana is aproximately 6 Paise.Eight Annas means 50 paise.Also coin with face value 1/4 of Aana was used , which means 1.5 Paise.My Parents say that they used to get 1 Aana every day as pocket money from their parents & I wonder just 6 paise.They say in 6 paise we used to relish eatables which you will get in 75-100 Rs today & also the quality of eatables which they used buy in 6 paise is much better. I feel within few years 1 Rs & 2 Rs coin will vanish like 5 paise ,10 paise & 25 paise coin & the next generation people will ask how 25 paise coin you used to look ? & questions similar to this .
According to me Pharmaceutical companies benefit a lot when coins of lower money value are banned because the pricing of medicines is like 10 Rs 65 Paise & amounts similar to that than they automatically get 11 Rs due to simple reason that coins of lower money value are banned.