Old fashioned bullion coins were great for their time, but the people demanded more convenience. When paper notes came around, the market decided that convenience was more important than soundness. Initially this was OK since you could redeem the notes for the bullion if you wanted. But over time the disconnect between the currency and its backing grew. Ultimately the limitations that the backing placed on issuance of new notes was ended, with disastrous financial results.
But thanks to Shire Silver we no longer need to trade off soundness for convenience. We can have both!