Mexico tried that for quite a while - then the bottom dropped out. Ended up lopping three zeros off their currency to make it so something less than a million Pesos would actually buy something. There was a short time right after the devaluation that US salvage guys were importing Mexican Pesos and melting them down cause the metal was worth more than the currency value till the Mexican government made it illegal. For a couple years after when they made all the old bills and coins non-negotiable (for a period you could trade in the old money for new at a rate of 1000 for 1)) the tourist shops had pallet boxes of the coins of 1-50 Peso denominations they sold as souvenirs for a dollar for 10 coins, take your choice. I bought a bunch and used to leave them as tips (along with some real money) to waitresses in Mexican style restaurants we ate at here in the US just for onryness. Were really pretty and large coins. Always wondered what they thought when they found a tip of "fifty Pesos", then found out the real value (if the coins would have been still negotiable) of less than a penny. Still have a 1000 Peso bill in the sock drawer.

I owned shares of "Wal-Mart de Mexico " at the time of the devaluation - that hurt. Fortunately didn't have much of it. Actually still have those shares and they are coming back - glacially.

John