I have no idea if this works...

[chuckro]

No letter represents zero, and no two letters represent the same number.
Assuming the letters are multiplied, what is the smallest product that ONE can equal?

MINE = YOURS
OURS = NINE
USER = EIE
MONEY = SOYOR

Comments

[edgehopper.livejournal.com]

I get 8:
E = 1
I = 90
M = 30
N = 2
O = 4
R = 5
S = 3
U = 6
Y = 15

This is smallest possible, since O = N*N is forced (combine eqs. 2 and 3)

[chuckro.livejournal.com]

That appears to be valid, and in fact, is a better answer than I initially got. But then, I made a silly mistake.