Because the spot price changes frequently, we use a higher base in order to make our Warehouse Receipts remain stable at a given value for a period of time. In the event that the spot price of silver rises above that base and remains there for any length of time, we will adjust that base upward. Currently, we sell only the highest quality Silver rounds and bars at a Member Discount off our Silver Base of $25 per ounce, which means that the warehouse receipts are valued at that rate, as well. We also commit to buy back your silver at the same discount from our current Silver Base at that time, should you need to reclaim the money you paid for it in order to pay bills or make purchases. This means that we will always buy it back from our Members for no less than what you paid us for it.