One major problem with gold and silver as money is today is too easy to fake.
People buy that ‘gold’ from ‘Rosland Capital’, pay someone else to store it, and when they go to sell it find out that some is fake.
Good luck getting the people hawking the ‘gold’ to stand behind the product.
Paper money is faked as well.
I’m not talking about carrying fake Chinese gold & silver bars around - I’m talking about using the money we used in the past, which contained gold & silver. When you cross a border, the person on the other side doesn’t care whose face is on the money, or what language - they only care about the content.
In a world where the US wants the most stable currency to be the US dollar, we’d lose that position if every country continued using the precious metals because it would be irrelevant who issued it.