Silverhold is a sparsely-populated and loosely-united medieval nation of men, dwarves, and a few hobbits. Geographically, it is dominated by the Silverpeaks mountains filling its entire eastern half. It is an nominative ally of the Covenate of Etelel, though relations and attitudes vary from year-to-year. The Covenate and Silverhold have a naval alliance to protect mutual trade and keep the nearby coast clear of pirates, with Silverhold fielding its ships from Halefjord.
Silverhold is comprised of a couple cities (Highreach and Halefjord) of men and dwarves in the central and southern Silverpeaks, a few mountain mines and logging villages outside these two cities, and a handful of farming settlements around the edge of Trollwild, the most notable of which is Meadowhall, near the Covenate border. Silverhold's wealth comes from dwarven mines at its capital, the mountain stronghold of Highreach, and from the trading port of Halefjord. Politics are complex and chaotic, and the current government is partially manipulated by the neighboring Covenate of Etelel.
Silverhold has no standing national army, though Highreach and Halefjord's warriors can well defend their mountain strongholds. But the northern Silverpeaks have long been controlled by goblins based out of a city under the mountains, and Silverhold's grip on its troubled western countryside around the Trollwild is far from complete. If the Covenate were not so weakened from their wars to conquer Aerelen lands, they might turn to the weak Silverhold countryside, where Guild adventurers are barely enough to help local men and hobbit farming communities survive against marauding goblins, orcs, trolls, and human bandits.