Well yeah, you would store your values in whatever representation fits your domain, then do the calculations with floats based on a suitable origin when needed. For example, for raytracing you would have each model defined in its local coordinate system with 32-bit floats for coordinates (because those are plenty accurate enough for single human-scale models), but offset them in the scene with 64-bit doubles (again, plenty enough of precision), and convert the ray coordinates to the local coordinates for ray-mesh intersection once the ray-box intersection passes.