We present a theory of superconductivity based on the theoretical prediction that a macroscopic persistent current is generated by spin-vortices. It explains the origin of the phase variable θ that is canonical conjugate to the superfluid density as a Berry phase arising from the spin-vortex formation. This superconductivity does not require Cooperpairs as charge carriers, thus, is not directly related to the standard theory based on the BCS one; however, it exhibits the flux quantization in the unit Φ 0 = hc/2|e|, where h is Planck's constant, c the speed of light, and e the electron charge; and the AC Josephson frequency, f J = 2|e|V /h, where V is the voltage of the battery connected to the superconductor-insulator-superconductor junction. In due course, it is found that the standard derivation of the AC Josephson frequency misses a term arising from the flow of particles through the leads connected to the junction. If this contribution is included, the observed f J indicates that the phase θ is a variable conjugate to the number density of charge e carriers instead of the currently accepted charge 2e carriers. We propose an experiment that discriminates whether it is e or 2e. If the above claim is verified, it means that the BCS theory cannot predict whether a particular compound is a superconductor or not since it does not explain the origin of θ . A connection between the present mechanism and the BCS mechanism is discussed; the fact that the BCS theory gives an excellent estimate of T c is attributed to the fact that it predicts the temperature at which spin-vortices become long-lived due to the energy gap formation; since the stabilization by the electron-pair formation is compatible with the present mechanism, asymmetries observed in the H. Koizumi ( ) Institute of Materials Science, University of Tsukuba, Tsukuba, Ibaraki 305-8573, Japan e-mail: koizumi@ims.tsukuba.ac.jp even and odd number of electron systems are preserved. The most notable difference is that the persistent current generation is formulated in a strictly particle-number-conserving manner. Thus, it does not violate the superselection rule for the total charge.