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The values of nickel, zinc, and copper are far from arbitrary, and oftentimes the metal value of a coin is higher than its face value. The US penny is >2¢ of zinc and copper.

Besides, metals like lithium corrode too easily, and other rare metals like zirconium/niobium/tantalum/REEs are intrinsically scarce so minting coins from them would be wasteful. Arguably using zinc, nickel, and copper for coins is wasteful, and all coins should be some sort of stainless steel or aluminum. (Like the aluminum Japan 1 yen piece.)

Then your cash becomes a store of value. Exactly what the government doesn't want. Not least as people will make a living melting down coins as the governments expense.

I can only get behind this if there’s a fixed exchange rate between two coinable metals that doesn’t change with their relative scarcity.

Let'em Lithium coins roll!

Let’s adopt CR2032 batteries as a currency