IGT, who developed the game, stopped supporting the machines, and with that change many casinos over time removed them, until there were only a few casinos left with them. Over the years, the formulation of the token itself has changed to keep pace with inflation, and nowadays most coins are simply clad and don’t have any real quantity of silver.
The tokens they dispense were originally made of silver and came in a variety of valuations and sizes. The Silver Strike slot machine is a bit of a novelty today, but in their heyday they were found at casinos across the country. If you go to downtown Las Vegas, you might find a curiosity of a slot machine in some of the casinos, featuring tokens in the upper section.