[Apocryphon]

That’s great, and also moot when the vast variety of coin holders opt for the convenience of a centralized third party service instead.

With fiat, you also have the option of storing gold yourself.

[selectodude]

You can fit $1 million in a briefcase in a safe. No need to rely on fractional reserve banking to store your money.

Granted, that would be stupid, but it's certainly an option.

[notch656a]

The problem with fiat is a completely unknown monetary supply function. Gold makes a lot more sense IMO in your scenario as there's a finite amount in and on the earth, and it would take a scientific breakthrough to economically create more than that.