Which makes, though, a ten-pound lump of melted silver worth the same as ten pounds of minted (or hand-stamped) silver coins; I'm not sure that's the intent.
Well, sort of.
A 10 pound lump of silver is going to be worth less because of the hassle of verifying it is actually silver and the annoyance of breaking it into standard size bits. So you'll be charged some discount for it.
Similarly, if your coins are all from strange lands, they might cut what they offer you, just because of the hassle. "I don't recognize that coin".
Same for metal jewelry; you can use it to buy stuff, but the cost of measuring and verification etc means there is a cost.
That is the kind of thing that bargaining can change, of course.
Of course, at large enough scales, verification and (re)minting it isn't going to cost much next to the raw metal.
Mild inconvenience does not equate to toxicity.
That, and everyone's arithmetic skills could use the workout provided by 12 copper to the silver and so on.
So, I've got a degree in mathematics. My mental math skills are above the top 1% of the population.
No, the level of realism of 21 shillings to the quarter horse isn't needed.
That kind of stuff in the real world had reduced costs eventually because it was universal and forced, so everyone picked up the skills needed to deal with it. But this is a game, and I'm not all that interested in coin conversion, and adding a math problem to every currency purchase is not something I'm interested in.
I'm sure there are people who want to play a simulation with that degree of precision (if not accuracy), but that ain't my problem.
Encumbrance already has a low level of people bothering with it. This was even true decades ago. Paying attention to it was a subtype of D&D even when it was a core rule. Making it more awkward to deal with doesn't make it more likely to be used, nor would it make the gameplay involving it more engaging to me.
Coins being 100 to the unit of weight the game cares about would make counting coins for weight insanely more common. However, encumbrance in 5e is well designed to encourage people to ignore it.
As historically money was a weight of precious metals thing, and doing so returns the game to the original purpose of encumbrance in D&D (measure how much treasure you could carry out of a dungeon), my idea of measuring money by pounds of silver aligns with my goal of encumbrance being used in a game.
I might also do a pass on the equipment list to simplify the weights of things; precision is less important than simplicity. As the world I'm working on has a degree of common magic items in industrial production (low level enchantments are everywhere), I can use this as an excuse to change weights of things. Bwahahaha.
I'd be tempted to go to kg, but it doesn't feel fantasy-ish. Mina is too obscure. Hmm.