Entry 1 sense Webster, 1913 Picayune /ʹpĭk'ə'yo͝on/ · Pic·a·yune · IPA /ˌpɪkəˈjun/ 01 n. A small coin of the value of six and a quarter cents. See Fippenny bit. 1. A small coin of the value of six and a quarter cents. See Fippenny bit.[Local, U.S.] See: Fippenny bit