Dukascash
Dukascoin Dukascash

Glossary

Silver Dukascoin (SD), Coin The Silver Dukascoin is a silver coin, issued in limited quantity, created to evidence the right of a legitimate holder to receive a Gratification bonus paid by Dukascopy Bank in crypto Dukascoins.
Silver Dukascoin series SPACE Unique series limited to 65 coins, with identification numbers from 1 to 65, made of 999 Pure Silver. All coins of the SPACE series have been sent out into open space. Each coin has a Gratification bonus of 250 crypto Dukascoins.
Silver Dukascoin series SKY Unique series limited to 935 coins, with identification numbers from 66 to 1000, made of 925 Fine Silver. Each coin has a Gratification bonus of 50 crypto Dukascoins.
Public Register Electronic database created and maintained by Dukascopy Bank which contains records of legitimate holders of Silver Dukascoins. The Public Register is publicly displayed on the dedicated webpage of the Dukascoin website.
Legitimate Coin holder The SD holder who meets all the following criteria:
  1. Possesses the Silver Dukascoin
  2. Has valid multi-currency account (MCA)
  3. Is registered in the Public Register as the SD holder.

Design of the Silver Dukascoin

The Silver Dukascoin is available in 2 series:

  • SPACE: rare series with the highest numismatic and Gratification bonus value. Only 65 pieces will be released and were launched into open space on November 22nd 2019;
  • SKY: limited series with the Gratification bonus value available for public usage as physical proof of the right to receive the Gratification bonus.

A maximum of 1000 pieces of Silver Dukascoins from both series will be released. Dukascopy Bank can decide to limit the SKY series and release less than 935 coins at its own discretion.

SPACE series features:

  • symbol 1 Dukascoin on obverse,
  • 999 Pure Silver sign on the obverse,
  • convex reverse side with the cross sign,
  • the individual serial number printed on the obverse and reverse of the coin in the lower left corner from the cross on the reverse and from the unit on the obverse,
  • the number is applied with a laser and has a black color,
  • individual serial number counts from 001 to 065.

Due to multiple transportation and repacking in the process of the preparation, landing overload, temperature and vibration impact during and after space launch and participation in the historical landing photo session, each of the 65 coins has unique micro damages. These historical signs are meticulously described as individual features of each coin in the special catalogue available on the web site.

SKY series features:

  • symbol 1 Dukascoin on obverse,
  • 925 Fine Silver sign on the obverse,
  • flat convex reverse side with the cross sign,
  • the individual serial number printed on the obverse and reverse of the coin in the lower left corner from the cross on the reverse and from the unit on the obverse,
  • the number is applied with a laser and has a white color,
  • individual serial number counts from 066 to 1000,
  • there is a star on the obverse upper left quarter of the coin.

Silver Dukascoin Bonus Program terms and conditions

General terms

The Silver Dukascoin is the physical proof of the right to receive the Gratification bonus according to the Silver Dukascoin Bonus Program if the following conditions are met by the legitimate holder, namely the person that:

  1. Possesses the Silver Dukascoin
  2. Has valid multi-currency account (MCA)
  3. Is registered in the Public Register as the SD holder.

The Silver Dukascoin can be purchased from the Bank by completing the order form on the website www.dukascoin.com/silver.

The Bank is selling the Silver Dukascoin while respecting the Reference price (see description below). At the same time the Bank determines the final price upon request. The formula of the Reference price is:

For the SPACE series: 100 EUR (cost of production) + 300 EUR (cost of launch to space) + current market price of 250 Dukascoins quoted on the Dukascopy marketplace (BID+ASK divided by two).

There are specific requirements for the client of the Bank to be qualified to buy Silver Dukascoin SPACE series. The client should have more than 10000 Dukascoins on their MCA account (deposits included) at the moment of the purchase request. Dukascoins balance requirement will be checked at the time of reception of the order for the Silver Dukascoin of the SPACE series from the client.

For the SKY series: 100 EUR (cost of production) + current market price of 50 Dukascoins quoted on the Dukascopy marketplace (BID+ASK divided by two).

The delivery cost is calculated individually upon request. The cost of shipping and handling will be charged additionally depending on the delivery destination chosen by the client.

The Gratification bonus will be provided solely to the legitimate holders of Silver Dukascoins and the bonus will be subject to conditions that shall be met according to the Silver Dukascoin Bonus Program. The Gratification bonus can be released to the legitimate Silver Dukascoin MCA account holder only. The legitimate SD owner should submit the Coin to the Bank personally or through the person dully authorized by the SD owner through a notarized Power of Attorney (POA). The Gratification bonus will be provided if the Silver Dukascoin preserves its physical condition, allowing natural wear, scuffs and minor scratches. However, the SD cannot be significantly damaged with loss in weight. Dukascopy Bank will perform its own examination before the Gratification bonus is released. In case of loss for any reasons, the owner loses the legitimate status and any rights to the Gratification bonus.

Once the Gratification Bonus has been paid the coin holder will be removed from the Public Register of legitimate owners.

Every client can buy only 1 Coin of the SPACE series.

Coins of the SKY series can be acquired without limitations.

The Bank is not responsible for the loss or damage of the coin during delivery by external third party services. In such cases, the client loses the right for the Gratification Bonus and is not eligible for the refund of the price paid.

The Silver Dukascoin Bonus Program has been created by the Bank on its own initiative and at its full discretion. The Bank reserves the right to change the rules of this Bonus Program without prior notice and at any time, at its sole discretion and without any explanations or reasons.

The Silver Dukascoin Bonus Program cannot be considered as a Dukascopy Bank liability in case of bankruptcy or liquidation.

If the Bank declines the MCA account application of the Silver Dukascoin holder or closes the MCA account of the coin holder upon the Bank's decision or client's request, the client loses the right to the Gratification bonus but can transfer (sell/gift) the coin to another person who would meet the requirements of a legitimate owner of the Silver Dukascoin. In this case, the coin holder must send a written request to the Bank to change the ownership of the dedicated coin to another person and must to indicate the phone number of the new coin holder. While the request is being processed by the Bank, the current coin holder will be recorded in the Public register.

Silver Dukascoin Public Register

The Bank maintains a register of legitimate Silver Dukascoin holders for all series. Transfer of the Silver Dukascoin from person to person should be recorded in the Public Register. The records in the Public Register are based solely on and can only be updated in two possible ways (non-cumulative): through a Silver Dukascoin holder's operation (either via available mobile application or web-based internet banking) or by written request sent from the Silver Dukascoin holder directly to the Bank.

The Gratification bonus can only be applied to a legitimate Silver Dukascoin holder recorded in the Public Register.

The Public Register will only display the current holder of the Silver Dukascoin. The history and records of the former holders of the Silver Dukascoin will be stored by the Bank. This information will not be displayed on the Public Register on the www.dukascoin.com/silver website.

If the holder of the Silver Dukascoin of the SKY series wants to claim their Gratification bonus or transfer the coin and its subsequent rights to another person, they must open an MCA account.

If the Silver Dukascoin holder has not confirmed that the coin belonging to him was transferred to the new holder via the dedicated interface in the internet banking or mobile application, the new holder of the coin will not be considered as a legitimate holder. In this case the Gratification bonus shall not apply to the new coin holder.

Coins have four statuses set to distinguish coins belonging to the bank from those belonging to the clients in the Public Register:

  1. Available in the Bank. Coins kept in the Bank's premises, not acquired and free for purchase.
  2. Kept with the Bank. Coins kept in the Bank's premises, acquired by the Client and not available for purchase.
  3. Acquired by the Client. Coins held by registered holders. Serial numbers of owned coins are reflected on the website in the Public Register.
  4. Cancelled. Coins returned to the Bank and not available for reselling due to loss of weight or significant damage. Coins registered as lost because of criminal or force-majeure reasons.

Silver Dukascoin safekeeping with the Bank

Dukascopy Bank can offer safekeeping service to the Silver Dukascoin owner who is an MCA account holder. The coin can be safely stored in the vault located in the Bank's premises. In case of transfer of ownership (sale/gift) of such a coin to another MCA account holder, the Bank can secure the deal for both parties. The safekeeping service fee is 1 EUR per calendar month. The commission will be charged either once per year or at the end of the term of the safe-keeping service from the MCA account of the client. The Bank requires the minimum balance of the client's MCA account to be of at least 1000 EUR. The client should send a written request regarding this service to the Bank and will be attended to individually. The Bank's responsibility for coins stored in the vault is limited to the reference price of the stored Silver Dukascoin.

Transfer of the Silver Dukascoin and ownership rights

The legitimate holder of the Silver Dukascoin is allowed to transfer their Silver Dukascoin to authorized third persons and the corresponding rights to participate in the Bonus Program. The Silver Dukascoin may be transferred to any person whether they have an MCA account with the Bank or not.

  1. To transfer the Silver Dukascoin of the SPACE and SKY series, the holder of a valid MCA account shall provide the Bank with the phone number of the person to whom their Silver Dukascoin and corresponding rights to benefit from this Bonus Program shall be transferred. The phone number can be provided via the interface available in the mobile application and/or in the internet banking system. After the phone number is provided the serial number of the coin will be displayed in the corresponding part of the internet banking interface of the new owner and disappear from the former owner. All corresponding rights to benefit from this Bonus Program will be transferred to the new phone number holder. The status of the corresponding Silver Dukascoin in the Public Register will be updated accordingly.
  2. If the person to whom the Silver Dukascoin shall be transferred is not an MCA account holder, the Bank will make an attempt to send an SMS to the mobile number indicated by the current Silver Dukascoin holder with information about new rights obtained and instructions on how to open an MCA account. If the SMS is not received due to technical reasons, the new owner of the Silver Dukascoin may refer to the Public Register. The updated status of the corresponding Silver Dukascoin in the Public Register shall prevail over any technical issues during the SMS sendout.
  3. If the Silver Dukascoin is left for safekeeping in the vault located within the Bank's premises the Bank may secure the transfer of the coin/fiat funds between two MCA account holders (seller and buyer). Upon the written requests made by the parties of the transaction, the Bank can check the availability of fiat funds and allocate them onto an intermediary account until the coin holder enters the new owner's phone number. After the transaction is completed, the new owner will be reflected in the Public Register, fiat funds will be released to seller's account and rights for the safekeeping service of the Silver Dukascoin will be transferred to the new owner's account (please, see the section "Silver Dukascoin safekeeping with the Bank" for more details).