So you stumbled across this company and are wondering: is 7K Metals a scam or a legit MLM opportunity?
Relax my friend because you’ve just arrived at the perfect place.
7K Metals claims to provide people with silver and gold-related products at the best prices. Is this really true?
Then, they allow their members to buy the products at reduced prices, and you can make money with their recruitment program.
However, there are some things that you should know before you decide to join this program.
7K Metals Review Summary
Product Name: 7K Metals
Price: $249 – $499
Recommended: YES & NO
7K Metals is a multi-level marketing company that offers silver and gold coins and bars to people with interests in investing in precious metals. However, you have to become a member of the 7K Metals Company for you to purchase the precious metal products. Despite investing in the silver and gold bullion, members can make commissions by enrolling new members into the company’s MLM network. So because it’s operating using the network marketing strategy, does it mean that 7K Metals is a scam? Let’s find out!
I’m not an affiliate member of 7K Metals, and therefore, I’ll be giving you my unbiased 3rd party 7K Metals review to help you understand everything about this company.
So, is 7K Metals a scam or a genuine platform to make money online? Continue reading to find out.
What is 7K Metals
7K Metals is a network marketing company that was founded in Idaho in 2016.
It offers membership packages that help members to gain full access to the precious coins, bars, rounds, bullions, metals, and other similar products. This is where it uses the MLM platform and strategy.
The company aims to enhance the lives of worldwide people who are struggling with the fluctuating economy.
They could be unemployed or have experienced unexpected life issues.
According to 7K Metals, they believe that they can help people to attain their financial independence and preserve their wealth with the power of silver and gold.
The founders of this company are Zach Davis, Josh Anderson, Richard Hansen, and Roger Ball, but I’ll get into their details later in this article.
7K Metals guarantees it’s members of getting the lowest cost of precious metals in the market.
They claim to pass onto their members only the costs they paid to get the metals.
The silver, gold, and other precious metals are bought from the largest distributors in the world at the lowest possible price.
This helps the company to assure its members of a price that’s the cheapest and most affordable in the market.
That’s all about the company. Now, let’s see how it works and how you can make money with it.
How 7K Metals Works
As I mentioned earlier, you have to become a member of 7K Metals for you to be able to purchase their precious metals.
This means that you have to pay an annual membership fee of $249 for the basic membership, or $449 for the premium membership.
Paying the membership fees also allows you to make money with 7K Metals by referring other people to join the company.
Besides, you’ll need to pay $250 or $500 for the travel savings card depending on your membership level.
Once you become a member, you’ll be able to view your own travel portal that allows you to find the best travel deals each month together with the subscription of AutoSaver Coin.
The AutoSaver program will set up an automated order monthly on the date of your choice. The affiliates are entitled to receive a curated collectible coin each month.
Although it’s allegedly optional according to the website, it seems that the AutoSaver subscription is a requirement to guarantee an active monthly purchase.
So, it’s like you’re being forced to collect the coins after signing up for this company.
It’s also good to note that only premium members have permission to access the compensation plan of the company.
Let’s have a quick look at the products offered by 7K Metals now.
7K Metals’ Product Line
7K Metals sells products such as mint silver & gold coins, and gold, silver & platinum bars.
The cost of the silver coins ranges from $19-226 while that of gold coins ranges between $162 and $1,945.
When it comes to the bars, the costs for silver is about $18.88/oz, $150-155/oz for the gold, and $966/oz for the platinum bars. $47,627 is the price of a kilogram of gold.
These are just some examples of what they’re selling.
7K Metals also have a wide collection of jewelry from which you can get your favorite piece.
Oh! I before I forgot… Do you think you may feel uncomfortable with gold bars lying around your house?
7K Metals has partnered with private vault services in which you can keep your precious metals at a cut-price rate.
Besides, 7K Metals have a shop on their website that shows the “members’ price” for their specific products, and this is good.
However, you need to be a US resident and purchase a membership plan to qualify to buy the products.
For you to make money with this program, you may need to have some good and wealthy connections of people who will join and buy these products.
If not, I’m very skeptical that this will be a sustainable business for you.
This takes us to the next section of our 7K Metals review…
How Much Can You Earn?
7K Metals pays a very limited number of points for product sales made by their members.
This is very unfortunate since it makes sure that you get very little earnings from your product sales. It’s like they don’t want you to focus more on product sales at all.
With that said, you’ll typically earn 20 points for each product sale. You’ll require 500 points on each side to earn in case you’re only selling the products.
This means that unless you sell a lot of products, you can’t earn many points, especially given that only several products allow you to accrue points.
Therefore, the only other way to make tons of cash is to focus on recruitment. Here, your earnings will depend on your rank as well as the size of your downline or team.
Your rank is dependent on how many members you have personally enrolled and their ranks. You can manage to earn on more cycles if you are in the higher ranks.
You’ll also need to have a member on each side of the rank beneath the one you wish to reach. This means that even the members you enroll personally are required to climb the ranks for you to climb to the top.
After reaching the top, you may potentially earn around $7,000 every week.
Nevertheless, I honestly don’t think this can happen since it will often be very hard to recruit tons of people to accrue enough points.
In most cases, people are much likely to struggle a lot to earn and ultimately quit because it will hardly bear good fruits.
Anyway, let’s see their compensation plan to understand how it works better.
7K Metals Compensation Plan
After joining 7K Metals, you’ll earn money when you sponsor new members. This will make you eligible for commissions, which are paid through their binary compensation plan.
The binary compensation plan consists of two legs (right and left), which can be filled by both indirect and direct sponsored members.
To calculate your sales volume, 7K Metals uses points for each sale, following the below setup:
An affiliate recruits for $250 or pays their annual fee of $250 (equals to 100 points).
An existing affiliate buys coins through monthly auto-ship (get 25 points for each ordered coin).
The affiliates you personally recruited buy coins from this company (you earn points depending on the amount of money spent).
The 7K Metals system checks out the sales volume on both legs every week and pays you on the lesser leg.
They offer two distinct commissions based on the performance of your team.
In the first step of the team commissions, you’ll earn $500 per week if your left and right teams reach 500 points.
For the second step, you’ll earn $1,000 in any given week if both of your teams reach 1,000 points.
Then, any extra points of your teams above 500 and below 1,000 in any given week will reset to zero at the beginning of a new week.
This means that you have a maximum of one week to get from 500 to 1000 points before they reset.
As their compensation plan clearly states, points will reset to zero at the start of the next pay period when affiliates earn either step 1 or step 2 team commissions.
Now, you’ll need to meet the following criteria for you to qualify for 7K Metals’ commissions as an affiliate:
Earn a minimum of 25 points every 30 days.
Recruit a minimum of two affiliates (one per side of the binary team), and they’ve earned at least 25 points within the last 30 days.
Then, there is a 5% matching bonus that’s paid on your personally sponsored members on their binary commissions.
So, how much does it cost to join 7K Metals?
7K Metals Pricing
To join 7K Metals, you can choose any of their two membership plans that include:
Annual membership, which costs $250
Onetime payment of $75, followed by a monthly fee of $10
They also have a premium membership that costs $449 annually.
According to the website, the annual membership allows you unlimited access to precious metals.
The Owners Of 7K Metals
As earlier mentioned, the founders of 7K Metals are Zack Davis, Josh Anderson, Richard Hansen, and Roger Ball.
Anderson and Davis seem to be more experienced in network marketing while Hansen is the expert in the collection and mining of precious metals.
Roger Ball is famous for his vision and insight into the world of entrepreneurship.
Hansen has been in the network marketing industry for 34 years.
Davis first learned the power of referral marketing while in college.
He has a lot of experience in the industry, and he has helped thousands of people to realize their potential in making contributions that are more significant to the world.
Anderson discovered about multi-level marketing at the age of 21 years. He managed to build a huge team that focused on the success of other people, which reached over 18,000 people in its initial year.
Besides, he influenced a new MLM company in 2008 that grew to 9,000 people in 120 days.
At this time, Anderson became the CEO of the company and helped them to get over 26,000 distributors.
Anderson and Davis run Black Ink International, which is a network marketing company that offers MLM since 2011.
Anderson was the CEO of JD Premium for 2 years (2009-2011), and Davis was the CMO (Chief Marketing Officer) for the company at that time. JD Premium focused mainly on personal care and nutritional products.
Roger Ball was the owner of JD Premium, and he closed it in 2015. Besides, he was an affiliate for another company called Paycation in 2012.
In general, the entire leadership of 7K Metals looks good.
GOOD VS BAD
- It doesn’t have retail opportunities.
- The precious metals are an expensive investment.
- The market for precious metals is limited.
- You can’t buy any products unless you’re a member.
- They put more focus on recruiting rather than the actual product sales.
- Many people are likely to fail, just like in other MLM’s.
Who Is 7K Meant For (And Not For)?
7K Metals is allegedly meant for people interested in the network marketing business model.
If you have good knowledge of MLM, this opportunity may suit you. It’s also intended for people with interests and the ability to purchase precious metals like silver, and gold, among others.
However, 7K Metals may not suit you if you don’t like the MLM business structure they use.
Besides, if you have no interest in the precious metals and lack the knowledge about MLM’s, this business may not suit you.
Since the precious metals (like gold) are expensive in nature, it requires someone who has a lot of money and wealth to buy them.
Therefore, this opportunity may not suit you unless you have the money and ability to buy the products they offer.
Due to the costly prices, it may be very hard for you to get people to enroll in the system in order to earn commissions.
So, do you think 7K Metals is suitable for you? Don’t answer before you read the below ugly truths.
Are You Tired Of Scams?
Ugly Truths Revealed
1. Costly Investment!
Since they have a very volatile market, precious metals may not be a very wise investment.
However, gold is still good, and you can keep it and wait in case its price drops in the market. Then, you can sell it when its value appreciates.
Now, the concern here is that gold and other metals are a very expensive investment.
Unless you have the money to buy these metals, this opportunity may not suit you!
2. You Have To Be A Member To Purchase Products!
Although there is an e-commerce page on their website that has the ‘guest checkout,’ it doesn’t really allow you to purchase as a guest.
After selecting the product that you want to purchase, you’ll be required to enter the name of the member who referred you.
Eventually, you’ll be invited to pay the membership fee to become a member in order to buy any product.
3. You’ve To Join The Autoship Program!
Regardless of whether you’d like to buy something or not, you’re required to enroll in the auto-ship program, which guarantees sales and ensure that you remain an active member.
This may be beneficial in case you’re selling consumer items, but still, you’ll have to deal with unwanted inventories to qualify for commissions.
Is this really logic? You might lose more money in the end than you’ll actually earn.
4. Limited Market!
Even though you may get people interested in owning the gold bars and other precious metals, no one will really buy them.
It just seems like a very risky investment, especially when you do not know about gold trading.
5. Most people are likely to fail!
MLM’s normally operate similarly, and the majority of their members end up failing.
I’m talking about above 98% of the members who join MLM companies. Just look at these few MLM examples:
Although the 7K Metals Company is fairly new, and we haven’t seen their income disclosure statement, I have a feeling that most people are likely to fail with this program.
Unless you have some good knowledge in the network-marketing field, you can hardly succeed with this company.
Only the people at the top of the pyramid will earn a considerable income.
Is 7K Metals A Pyramid Scheme
7K Metals has no retail sales. In my opinion, it would have been great if you, as an affiliate, would get retail customers to buy the various precious metals.
However, you can’t even buy anything here if you aren’t an affiliate.
This means that no emphasis is put on the products side.
Affiliates have to sponsor other affiliates for them to make money with 7K Metals, which makes it look like a pyramid scheme.
According to Wikipedia, a pyramid scheme is a company that sells you the opportunity to make money only by recruiting new people into the system, without any products to sell.
Because 7K Metals has valuable products to sell (i.e., the precious metals), we may not call it a pyramid scheme.
Despite this, it operates very much like one since they focus too much on recruitment rather than product sales.
Is 7K Metals A Scam?
First, I’d like to mention that I haven’t got the paid 7K Metals’ membership, so my answer here is based on what I’ve seen in my research.
7K Metals is not a scam but a legitimate MLM business. You’ll get something in return once you pay for it.
Additionally, there are no customer complaints reported about the authenticity of the products they sell, meaning that they aren’t scamming people in terms of the business.
They have a great leadership and management team, meaning that they are somewhat dependable.
At the same time, they have tangible products though these are only accessible to the registered members.
This concerns me since I would have preferred to see them only offering the membership without being an MLM.
You can earn commissions by referring new members to join and benefit from the ‘best’ prices of the precious metals.
Honestly, I don’t like the MLM structure, and also, I don’t have enough knowledge about the value of the products. 7K Metals is something I wouldn’t invest in!
However, in case you feel comfortable with this kind of business or have good experience in network marketing and know some info regarding precious metals, then you may want to give 7K Metals a try.
But before you do that, you may want to consider the prices of these metals on the international market before joining this company.
If you find the prices to be lower as they claim, it can really be a good investment if you can afford it, of course.
But if you don’t like investing in precious metals, this opportunity may not suit you.
I honestly hope that you’ve enjoyed my 7K Metals Review and learned everything you needed to know about the company and its operations.
Now, I don’t really recommend anyone to join this program for the ugly truths revealed in this post, unless it suits you the most.
However, I have a different and much better option that you may want to consider, so keep reading!
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Anyway, I hope that my 7K Metals review was useful to you. If you had any experience with 7K Metals, feel free to share them in the comment form below.
If you have any questions or thoughts whether 7K Metals is a scam or anything else, then please leave them in the comment section.
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