Simple solution to working with currency.

gistfile1.rb

# in your migration
t.integer :price_in_cents 

# in your view to display your price
= number_to_currency object.price

# in your model
def price
  price_in_cents.to_f / 100
end

def price= new_price
  self.price_in_cents = (new_price.to_f * 100)
end