If a country's money loses its function as a store of value,
a; people will no longer hold their savings in that currency
b; people will trade the money for alternative foreign currencies
c; people will buy precious metals
d; all of the above

All of the above are correct (d), since if the currency can no longer effectively be used as a store of value, people will stop using it for their savings (a) and will look for alternative ways of saving (b and c).
Aalthough it can also happen that b) will not happen as fast, because people will hope that the currency will recover, and then then will be able to exchange the money into the foreign currency on a better exchange rate.