Rome did that and it worked well
Rome is still doing it today. Only now it's not called Rome any longer, but America. The fasces is an old symbol that had its origin in the Etruscan civilization and was passed on to ancient Rome, where it symbolized a Roman king's power to punish his subjects.
Now, this symbol appears in the seal of the United States Senate, and on the wall in the United States House of Representatives debating chamber.
Gold is a store of value
Only when you keep the gold. For example the Vikings when they went off to steal, they stole lots of gold. But when they got back to the village they would hold a big feast for everyone and they would waste all this money.
Less and less nowadays.