I remember overpopulation fears, the '70's? There's enough precious metals for this to work for everybody. Gold, Silver and Copper. Yeah copper too. Even though I believe the penny is obsolete. Maybe copper nickles.
With this belief, all metals would be at true market value. I can see Gold over $5,000 an ounce and Silver over or close to $500 an ounce.
Paper Gold and Silver certificates can work too, on a yearly independent audit of a Government's so called PM's supply.
It can work.