FAQ

1Why silver?

Nothing can replace silver with all of it's uses.

The demand for silver comes from three main areas:

  • Industrial applications
  • Investors
  • Jewelry

Industrial demand the largest, continues grow with Solar Panels, Electric Cars, and the “Internet of Things”. The new Internet of Things has substantially increased demand and will continue to grow for years to come.

Thus, as demand for silver continues to rise and peak supply decreases, the price increase will continue.

Silver is the perfect asset to use as money.

2Is my purchase of SilverTokens a purchase of physical silver?

Yes, SilverToken™ (SLVT) is the receipt for your purchase of silver (also know as a Warehouse Receipt or Claim Check) which can be exchanged for silver on demand.

SilverDollar (SLVD) is money always worth $1 USD of silver. This is how government currency was prior to 1971 (redeemable for silver).

3SilverToken or SilverDollar?

SilverToken SLVT

  • Is direct silver ownership
  • When the price of silver increases, so do SilverTokens
  • Growth from transaction fees

SilverDollar SLVD

  • Will always be worth $ 1 USD of silver
  • Will not change when the price of silver changes
  • Will not grow from transaction fees
4Why Purchase with ETH?

ETH is the symbol for Ethereum.

Both SilverToken and SilverDollar work only on the Ethereum network. In order to use the network for transactions a fee is charged called "GAS". This fee is always paid for with Ethereum (ETH).

So by requiring silver to be purchased with ETH it ensures that the sending wallet is a Ethereum based wallet, and you have gas to pay for the transaction fee.

5What are the benefits SilverToken compared to local dealers?

Many benefits are the same:

  • Buying Physical Silver
  • Delivery

Here is why SilverTokens are better:

  • Selling Silver Back
    • 7 Days a Week, 24 Hours a Day
    • Purchased back at the spot silver price.
  • Velocity Based Yield
  • Free Storage
  • Free Insurance
  • Global Vaulting Network
  • Pick-up or delivery from the vaults in our network
6How can SilverTokens SLVT and SilverDollars be used?

Silver has been use as money for thousands of years so you can digitally exchange them for goods and services by simply sending them from one digital wallet to another.
Additionally, silver serves as an excellent asset for holding value.

In 2020 the silver spot price went down to under $12 USD per oz. but the physical deliverable price was held constant by the miners, refiners, minters, and other holders.

7How do I view my SilverToken and SilverDollar balance in my Digital Wallet?

In order to view your balance, you must be using an ERC20 compatible wallet (e.g., MyEtherWallet, Trust, MetaMask).

Simply add the:
SilverToken = 0x652594082f97392a1703d80985ab575085f34a4e smartcontract address
SilverDollar = 0xdba8e8021fe321af91fc3a08e223ef15908cb2bb smartcontract address
to your wallet and your balance is viewable. Read more...

8How do I purchase silver and get my SilverTokens?

SilverTokens (SLVT) may be purchased several ways.

9What is the Difference between SilverToken and other silver dealers?
Other Dealers charge you:

Shipping, Insurance or storage and then again when you want to sell.

SilverToken, is Easy, Fast and Cost Effective.

You receive a digital receipt called SilverToken you can use as money. We call it Receipt MoneyTM.
The benefit of SilverToken is with your digital receipt, storage and insurance are free.
Plus, you are able to transfer your silver ownership for daily purchases (like other money), as well as exchange it for silver any time, instantly

10What is “tokenizing”?

Tokenizing is converting a physical silver into SilverTokens (SLVT). Plus, you can redeem your SilverTokens back to physical silver anytime.

If you own silver:

  • Want to sell 7 Days a Week, 24 Hours a Day.
  • Get "Spot Price" when you sell.
  • Get "Free Insurance".
  • Get "Free Storage", in our global vaulting network.
  • Have your silver stack grow, from our "Velocity Base Yield",
  • then tokenizing is for you.

    Here are the steps:

    1. Fill out this form.
    2. Our vault manager will contact you to arrange deliver.
    3. Fully-insured shipping is provided.
    4. All metals arriving at the vaults are assayed and weighed.
    5. A one-time fee of 5% is charged in silver weight
      for operations associated with securing your metals within the vaulting network.
    6. You receive an equivalent amount of SilverTokens (SLVT) sent to your digital wallet.
    11What is meant by “Redeemable for Silver”?

    Aligned with our belief to create sound money, all SilverTokens are fully redeemable on demand for a minimum of 1 : 1 silver. Each SilverToken is fully represented by vaulted silver, and initially the ratio of silver to SLVT started at 1:1 but has since grown, meaning for each SLVT in circulation there is more than 1 troy ounce of 99.9% silver secured within the vaults. All SilverTokens in circulation may be sent back to SilverToken and exchanged for the silver represented by the token (this is called exchanging or redeeming). Thus, SLVT is commodity money. When redeeming, a minimum of 200 ounces must be redeemed.

    12How many SilverTokens (SLVT) will exist?

    Each time silver is purchased, the smartcontract “mints” a new SilverToken. The new SilverToken then purchases silver at the current price. This allocates physical silver within the private vaults. This mechanism provides for a theoretical “infinite” amount of SilverTokens SLVT without creating inflation within the "Sound Money" system. Remember, when SilverTokens are redeemed from the vault, the opposite is true: the amount of silver and the token are removed from the "Sound Money" ecosystem.

    13How could my SilverTokens grow in value?

    There are two scenarios in which SLVT will increase in value and both scenarios may happen independently or in conjunction with each other.

    1. As SLVT is used, transaction fees are generated. The 50% of fees are used to purchase more silver and increase the silver of each SilverToken. For example, initially the SilverToken ratio was 1:1, so the ratio of SLVT to silver has increased. Thus, each SilverToken represents more silver. This is growth from the velocity of the SLVT and SLVD .
    2. The global market price of silver increases. As the value of your government's currency declines, silver priced in your currency will increase in value.
    14No cost for vaulting, insuring silver or holding SilverTokens

    Yes, $0 vaulting: All silver is insured and vaulted free of charge. There is only a small cost when sending, redeeming or tokenizing. This cost is how we pay for these processes.

    15What are the fees associated with SilverToken SLVT?

    Here is the breakdown of fees associated with SilverToken:

    1. Transacting with SilverToken (SLVT)
      • Free when sending 2 SLVT or less
      • 1% when sending 3-500 SLVT
      • 0.8% when sending 501 or more SLVT
    2. Tokenizing
      • 5% of the weight in silver delivered to the vault.
    3. Redeeming
      • A minimum 100 ounces of silver must be redeemed. The cost of shipping, insurance, and tax will vary by your location. If you pick up your silver at one of our vaults, handling and tax may apply. These costs depend on the vault, country, and quantity.
      • Merchant and Commercial accounts call for discounts.
    16What are the fees associated with SilverDollar SLVD?

    Here is the breakdown of fees associated with SilverDollar:

    1. Transacting with SilverDollar (SLVD)
      • .45% when sending SLVD
    2. Converting from SilverDollar (SLVD) to SilverToken (SLVT)
      • 0% Transaction/Exchange Fee (Only a network fee applies.)
    17How do I know there is actually silver in the vault?

    Our vaults store precious metals for the wealthiest people throughout the world. These vaults are private and not connected to any government or bank. All silver is insured and inventoried monthly. Additionally, an independent third-party audit is performed a minimum of once per year for purity and quantity by Bureau Veritas. If you hold more than 100K SilverTokens, you may schedule a free guided tour of any of our vaults.
    Please, feel free to redeem your tokens for silver any time.

    18How are metrics like the SLVT ratio and current token supply calculated?

    The Total Current Token Supply is limited only by the amount of available silver on the open market. Each time silver is purchased, the smartcontract “mints” a new SilverToken, which is simultaneously represented by this new silver within the vaults.

    The Circulating Supply is the number of SilverTokens that have been purchased from the SLVT smartcontract, plus the amount of SilverTokens in the reserve account backing SilverDollars SLVD in circulation. All of these tokens are direct legal ownership of physical silver.

    The SilverToken Ratio is calculated by dividing the amount of vaulted silver by the number of SilverTokens in circulation plus the number of SilverTokens in the reserve account to represent all SilverDollars SLVD in circulation.

    19Why does Instant "Buy Back" pay you with USDC?

    Instant Buy Back is a smart contact that works 24/7. For this to function properly we needed a stable coin that represented the US Dollar.

    Even though USDC represents a failing government currency it is the fourth most widely used coin.

    20Will SilverToken offer a debit card?

    Yes/Maybe! The SilverDollar Card will allow further usability of SLVD in daily transactions. By utilizing existing infrastructures set in place by payment processors, SLVD may be spent just like widely accepted government currencies. The SilverDollar Card will be made available for a test group when we believe the banking system will not jeopardize the SilverToken as Sound Money system.

    So Not Yet.

    21Receipt Money

    Receipt Money ™ is what we call our tokens. They act as proof of purchase, just as receipts do when we shop in stores. Receipt Money is simply the token that may be used or exchanged for the silver. So SilverTokens are your digital proof of the purchase for silver. They can be spent just like other money and you may exchange your SilverTokens and SilverDollars for physical silver at any time.

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