Here is what will happen:
1. You will have a platinum cap applied to you now. If you are over the cap, you keep and can spend all of your platinum, but you cannot loot any more platinum until you drop under the cap.
2. You can buy in the bazaar but you cannot sell.
3. Your AA will be capped at 1,000. You can spend any unspent AA that you have already earned, but you cannot earn any more. All of your previously earned AA will still be usable (both passive and active).
4. You are hit with the prestige gear whammy stick. 99% of the augments will be unusable. The augments will stay in your gear, but the stats from them will be negated. Prestige gear will become useless and you will receive no stats from them.
5. You will lose your shared bank slots. Items in the shared bank will be sent to you via the parcel system.
6. You will lose inventory slots. Items in those inventory slots will be sent to you via the parcel system.
7. You can receive parcels, but you cannot send them.
8. If you have a Journeyman merc, you can no longer use him/her. You are limited to Apprentice mercs only.
9. You will retain access to all toons created under the Gold Account.
10. If you have 4 or more toons on that account, once Silver you cannot create any more. If you have less than 4 toons, all new toons will follow the allowable race/class combinations availble to Silver.
11. Every time you log in, you wil get a reminder message after 5 minutes in game to upgrade to gold.
12. Every time you log out a toon, EQ will open a browser window taking you to the upgrade to gold webpage.