The 3 lion design appears on most modern Indian coins. Although very pretty with plenty of eye appeal, just about all modern Indian coinage is worth very little. This is true for the 1 pice piece as well as anna, rupee, and paisa denominations.
The one pice coins catalog as:
worn: less than $1 US Dollar approximate catalog value
average circulated: $2
well preserved: $3
fully uncirculated (as in our picture): $6
Coins dated 1955 with a small diamond under the date (the Bombay mint mark) are slightly uncommon: multiply these values by three.
There are certain 1 pice coins with a five-pointed star under the date (the Hyderabad mint mark) that command more value, most significantly the 1953 Hyderabad coin being worth a few hundred US dollars even in circulated condition, rising to several hundred dollars in uncirculated condition - catalog value, that is.
Coins dated 1954 and 1955 with the five-pointed star for Hyderabad under the date catalog at $20 when average circulated and $80 when fully uncirculated.
Also, the coin in our picture has a pleasing red color, so a collector might be willing to pay as much as $10 to add it to his or her collection, even though it is a common date.
Be sure to read the 'Important Terminology' page in the menu on the top left to understand what the term catalog value means.