The entire reason coinage was even a thing was exactly this! Turns out it's pretty hard to know if a coin is actually the amount of gold it represents, if the shopkeepers scales are accurate etc etc. etc

The entire concept of marking coins with trustworthy seals was exactly to basically invent fiat currency as risk mitigation: coins bearing the seal would be honored, and from that it was a short hop to "what if I just presented an IOU with the seal of the local gold merchant?"