NPR's All Things Considered had an interesting little segment last night that featured Billy Leroy, a Manhattan antiques dealer whose Billy's Antiques & Props in Manhattan accepts payment only in euros. The idea started after a failed antiques safari to France. Mr. Leroy found he was unable to make any purchases at all because of the 1.5 dollar to euro exchange rate. So, to build up a stockpile of euros, he put up his sign reading “Euros only” and now his store is frequented by European antique buyers. Pretty slick, if you ask me, eliminating his personal need to suffer through the currency exchange.

From a consumer's viewpoint, this seems to me a natural consequence of the way we do business online. We're used to buying products from the far reaches of the planet without worrying about what currency the seller wants. We plug in our credit card and the transaction is completed, with some nameless middleman (a trained orangutan in Peoria, for example) handling the details of converting my plastic dollars into pesos or yen.

Therefore, why not expect businesses to eventually accept any currency – or at least the most widely circulated? Given the weak dollar and the global mindset of today's consumer, will we see the Piggly Wiggly accepting Iraqi dinars? Well, the reporter certainly didn't have any luck trying to get a hot dog in Times square with a five euro bill, so I'm gonna hold off on going to Starbucks with my collection of Spanish pesetas for a while.

Click here for the NPR story: Yes, We Take Euros.