Before modern money evolved into unbacked paper, it was backed by precious metals. The value of the metal was represented and transferred with a piece of paper. Just like the deed to a house represents ownership, paper money represented ownership of precious metal. This paper money was even redeemable for the precious metal it represented; now that sound convenient.
Possessing this paper money was the same as holding a receipt for the purchase of the metal. Silvertoken is "Receipt Money" just like fully backed government currency formerly functioned. When you hold Silvertoken in your digital wallet is holding a receipt for the purchase of silver.
What Is Redeemable?
Silvertokens are redeemable for the physical silver each token represents. The silver bullion is stored within a vault and can be shipped to you or pickup at any of 8 secure vaulting locations. Doing this is a simple process and outlined below.
Prior to modern paper fiat currencies, successful civilizations used paper money redeemable for precious metals. Silvertoken is the improved 21st century digital version of redeemable money.
How Do I Redeem?
Redeeming your Silvertokens for silver is simple - submit a redemption request, transfer your SLVT and receive your silver in the mail or pick up!
Our Redemption Process
Submit a Redemption Request
Let us know how much you want to redeem! Complete the request below to begin the simple process of redeeming your SLVT. After we receive the request, all of your details will be confirmed. A minimum of 100 ounces of silver must be redeemed because vaulted silver is comprised of 100 and LBMA 1,000 ounce bars.
Transfer Your SLVT
Before your silver is shipped, we must receive the SLVT you are redeeming. You will be provided with the redemption wallet address to send your SLVT. There is a 4% fee paid in SLVT to cover the costs of shipping, insuring and physically removing the silver from the vault.
Receive Your Silver in the Mail or Pickup at a Vault
It’s that simple. All that's left to do is wait for your package to arrive. Tracking information is provided so you know when to expect a delivery. Once you receive or pickup your silver, let us know on social media!