@AcKyuubi
Not if the value is backed up by its own material. Silver is silver, it being minted just serves as a simplistic guarantee that "this is indeed silver".
Though that being said, coins in medieval times were rarely 100% silver/gold etc. But the value was still not based on a "guarantee" as it is today with physical currency.
Silver is always silver, but a paper sheet that says "100" is nothing unless someone guarantees you that the paper sheet is worth equal to something else and can be traded for that "something else".