No, it is intrinsic value as a medium of exchange and of metal material having many uses.
To deny that is to say that iron or titanium have no intrinsic value
No. That’s market value. Intrinsic value isn’t set in a market, it’s... well intrinsic to the item (belonging naturally; essential, the dictionary is your friend, words have meaning) Plenty of things have market value and no intrinsic value. Fractional ownership of companies is a fine example.
Iron has intrinsic value, it’s one of the most important things for making tools and progressing human technology. Titanium didn’t until we learned to work with it. Although even then, outside of its military applications it not that awesome. Gold was a waste metal that was too soft to do anything cool with until we figured out alloys, and got a little more with printed circuit boards. For most of human history it had no intrinsic value, and even now doesn’t have very much. Just because we’re obsessed with something and willing to fork over a lot of cash for it does not mean it its value belongs naturally or is essential.