Welcome to this comprehensive blog on 7K Metals, a precious metals MLM company that promises great investment opportunities.
In this article, we’ll delve into various aspects of 7K Metals, including its business model, product offerings, membership costs, ownership, and concerns to consider before joining.
We’ll also address common questions such as “Can you make money with 7K Metals?” and “Is 7K Metals a scam or pyramid scheme?” Additionally, we’ll present 10 reasons why you should carefully consider before joining 7K Metals. Whether you’re contemplating investing in precious metals or becoming a part of the MLM business, this blog will provide you with all the information you need to make an informed decision.
What Is 7K Metals?
7K Metals is a network marketing company founded in 2016 by a group of entrepreneurs in Idaho. They use the MLM model to offer membership packages for people to sell precious metals like silver and gold coins, bars, and bullion.
The company aims to help people achieve financial freedom by providing tools to create wealth through precious metals. The founders of the company are Zach Davis, Richard Hansen, Roger Ball, and Josh Anderson. They purchase precious metals from leading distributors at the lowest possible cost and offer them to members at their cost.
7K Metals MLM Business Opportunity
The 7K Metals compensation plan is a binary plan where you make money by signing up new members who pay a $250 annual fee or buy coins with automatic delivery. The point system determines how much you’ve sold, and you make money from the coins purchased by affiliates you sign up.
The company only pays out on the least amount of sales you’ve made. There are two commission plans based on your team’s sales, with $500/week paid out for 500 points and $1000/week paid out for 1,000 points. Anything between 500-1,000 points gets reset on the following week, so you only have a week to get over 1,000 points or you start over.
To receive a payout, you need at least 25 points every month and sign up at least two new members with 25 points each in a month. The company also offers a matching bonus of 5% for anyone you sign up.
Is 7K Metals A Pyramid Scheme?
7k Metals does not allow retail sales and requires customers to become members to purchase their products. Their main focus is on recruiting new members to make money, which may raise concerns about the company’s business model.
However, because 7k Metals does offer legitimate products such as precious metals, they may not be considered a pyramid scheme, although their business practices should still be carefully scrutinized. It is recommended to check their rating on the Better Business Bureau for further information.
What Are The 7K Metals Precious Metals Products?
7k Metals sells a variety of products, including gold coins, mint silver, and platinum, gold, and silver bars, as well as jewellery. The pricing ranges from $18.88/oz for silver bars to $47,627 for a kilogram of gold. They also offer a safe storage option for your collections through a private safe company.
However, only members with a US residency can shop on their website at the member’s price. While this product line may appeal to people with disposable income, it may not be a sustainable business plan in the long term.
Who Are The Owners Of 7K Metals?
Zack Davis: Experienced with MLM companies, introduced to network marketing in college, and co-operated Black Ink International since 2011.
Richard Hansen: Network marketing veteran for 34 years, experienced in collecting and mining precious metals.
Roger Ball: Entrepreneur and former owner of JD Premium, member of Paycation in 2012.
Josh Anderson: Experienced with network marketing, built a team of over 18,000 people in his first year, CEO of a company with 26,000+ members, and former CEO of JD Premium from 2009-2011.
Can You Make Money With 7K Metals?
The compensation plan for 7k Metals is based on a restricted point system, where you earn 20 points for every product sold, but you need 500 points to receive a payout. This type of plan may result in low earnings for sales representatives, potentially contributing to the low success rate of MLMs, where most members lose money.
It is unclear if 7k Metals members earn any significant income, and the company has not disclosed this information. It is likely that only a small percentage of people make money with the organization.
Is 7K Metals A Scam?
7K Metals is not technically a scam, but it can be difficult to build a successful business with the program. While it is possible to make money with 7K Metals, it requires a significant amount of work and patience. The compensation plan for 7K Metals involves a restricted point system where members earn 20 points for each product sold, but a payout is only earned after accumulating 500 points. However, there is no information available about the earnings of 7K Metals members.
How Much Does 7k Metals Cost?
The cost of joining 7k Metals involves a choice between two membership fees: basic and premium. The basic membership fee costs $249 per year, while the premium membership fee costs $449 per year.
In addition, all members are required to purchase a travel savings card from 7k Metals, with the basic membership travel card costing $250 and the premium membership travel card costing $500. The travel card allows members to access exclusive travel deals offered by 7k Metals on a monthly basis.
Should You Join 7K Metals?
It’s important to do thorough research before joining any MLM company, including 7K Metals. While the company is not a scam, some people have criticized it as a pyramid scheme due to its emphasis on recruitment and limited earning potential from selling products.
Additionally, if you have no interest in purchasing or selling precious metals, then this opportunity may not be for you.
Ultimately, it’s up to each individual to evaluate their own goals, interests, and comfort level with MLM before deciding whether or not to join 7K Metals. It’s recommended to weigh the pros and cons, and to consider other options that may be a better fit for you.
Concerns About 7K Metals
These are valid concerns to consider before joining 7K Metals. It’s important to carefully research any investment opportunity and understand the potential risks involved.
Regarding the cost, it’s true that the market for precious metals can be unpredictable, so it’s important to invest carefully and not overextend oneself financially. The requirement to sign up as a member to buy products and participate in the auto-ship program may also be a potential barrier for some.
The fact that most members tend to fail in MLM companies is also worth considering, as is the limited market for precious metals. It’s important to have a clear understanding of the risks involved and to approach any investment opportunity with caution.
Overall, it’s up to each individual to weigh the potential risks and rewards and make an informed decision about whether to join 7K Metals or any other MLM company.
A Summary About 7K Metals
7K Metals is a legitimate multi-level marketing (MLM) company that offers its members the opportunity to buy and sell precious metals, as well as earn commissions from their sales and the sales of their downline. However, some people have raised concerns about the high cost of the metals, the mandatory auto-ship program, and the limited market for these products. Additionally, like any MLM company, success in 7K Metals depends on your ability to recruit new members and sell products, which can be challenging for many people.
It’s important to note that not all MLMs are pyramid schemes or scams. A pyramid scheme is a fraudulent business model that involves recruiting members with the promise of payment for enrolling others into the scheme, rather than for selling actual products or services. In contrast, legitimate MLMs generate income from the sale of actual products or services to end consumers, not just from recruitment of new members.
In summary, while 7K Metals is a legitimate MLM company, it may not be the best investment opportunity for everyone due to the high cost of the metals, limited market, and the challenges of MLM sales and recruitment. It’s important to carefully consider the risks and benefits before investing your money and time in any opportunity.
What are 10 reasons not to get involved in 7K Metals?
- The high cost of precious metals makes it a risky investment, especially for those who do not have a lot of money to spare.
- Signing up as a member is required to buy products, and the auto-ship program is mandatory, which can result in unwanted inventory and lost money.
- Most members fail, with upwards of 98% quitting or losing money, and the limited market for precious metals makes it difficult to sell and profit.
- 7K Metals is a network marketing company, which may not appeal to those who do not like MLM businesses.
- The products are exclusive for members only, which seems counter-intuitive and fishy.
- The company is relatively new, and it is uncertain if it will succeed in the long term.
- The company’s focus on selling memberships rather than actual products raises concerns about it being a pyramid scheme.
- There are many other ways to invest in gold and other precious metals without the need for a costly membership and mandatory auto-ship program.
- The unpredictability of the precious metals market means that investing in them can be a gamble, and not a wise investment choice for everyone.
- There are many other legitimate investment opportunities available, and it’s important to do thorough research before investing in any company or product.
P.S. If you like this article, please click “like” or provide comment, as that will motivate me to publish more. Share and inspire. Thank you.
Thank you for your great report/site !
How about sound money wallet?
appreciate your feedback.
Thank you for your comment, I have never heard of sound money wallet.
I have been in 7K for a couple of years now and I disagree with much of what is said in this article! I do not get a check every week but I do make more than I put in.
I have no idea what he is talking about travel card purchase. I have never been required to purchase anything like that. He needs to get his facts straight before speaking about this company!
If you watch the full video, you’ll see I don’t actually call it a Ponzi scheme. You are encouraged to purchase collectible coins. My point is, these coins may not be truly collectible. They are given a perceived value, but the reality is they’re worthless unless you find someone interested in buying them. And there’s no denying it, if you’re trying to buy gold and silver, you’re certainly paying more than the going rate by purchasing through these companies. But I’ll be honest, anything promoted with multilevel marketing, I hate.
Would you please update this article? Many things have changed. There membership fees are inaccurate and auto-savers are not mandatory but highly suggested to build a business and draw an income. These are only two major changes. Achieving a reasonable income is not difficult but it takes a lot of work. It is not a get-rich-quick scheme. It is hard work. It is not for everyone. It takes a certain mindset and fortitude, and it is completely legitimate.
IMHO, the greatest feature they’ve added is the SoundMoney Wallet.
As my video said, I couldn’t really say this was a scam. However, you are paying exorbitant prices for gold, and you might as well go get a job if you have to spend your entire life recruiting people to achieve a little income. ️
Alot of your information is incorrect, so you are now adding false claims.
And with a members growing at about 10,000 a month there are alot of people that are making a good living now.
So if you are wanting to start a business get on a good team and the sky is the limit, because you have the ability to make 12,500 a week from this after getting a good team under you.
Your words say it all: “After getting a good team underneath you,” and they use multi-level marketing techniques. Personally, I can’t stand people that rely on others to sell and make themselves rich. I believe most of the money is made by selling dreams to people that never materialise. Very few people are capable of building a marketing team, so you might as well start your own business. In other words, get a real job.
Why do you need to buy overinflated gold? Why not just buy gold and silver directly from other suppliers? You might think you hold value because you have an NFT-style gold bar, but the true value is when you sell it for the price they claim you will get, which I don’t believe would actually happen.
I didn’t stamp it as a scam; I just said that it doesn’t look like a good investment opportunity to me. I don’t feel like building up a marketing team myself, and the value you MAY get isn’t worth the time and energy you would need to invest, even if you got paid $25,000 a month. ♂️
Danny: De Hek is laughably naive. You “can’t stand people who rely on others to make themselves rich” — but isn’t thst what ALL businesses do? Isn’t that EXACTLY what Doctors, Lawyers, Engineers & politicians ALL DO!? Welcome to Capitalism. Even Socialism is built around the concept of all the people paying “taxes” to politicians who live the wealthy lifestyle of the Bidens, Clintons, etc. Even YOU, DANNY: DE HEK are solicitating all of us to “buy you a coffee” & donate to make YOU RICH!
Don’t think I’m going to get rich by people buying me coffee. The difference is, I’m not lying or deceiving people; I’m transparent. And I’m also not claiming to be a charity, nor am I making any false claims about what I do. It’s easy to point the finger at other people to deflect, but remember, there are always three fingers pointing back at yourself when pointing at others. And if that’s the best attempt you can make at saying I’m just doing this for the money, then you should really do thorough research on who I am and what I’m all about. ✨
Yes, I agree with your evaluations (although some fine points may have been ‘changed’ or updated…the basis of 7K Metals hold factual that it is a MLM selling overpriced products to it’s Members.
In my own research, knowing well of the “gotchas” found in all MLM organizations… I found their BIG SCAM was how they [sell] “collectible” priced trinkets by minting their silver/gold into some “unique” design, calling it “collectible”, and pricing it at extreme OVERPRICED values!
(example) Anyone may take pure 999.9 Silver, smelt/pour it -or- stamp it into a “unique” design (let’s say of My portrait), and claim it is NOW a collectible unique “investment” …of which is ‘true’ in matter of (legal) grammar.
However comes a BIG WAKE-UP…. whenever I go to sell this hunk of “collectible-silver” … it will be valued as what it is…a hunk of silver, and redeemable at the current price of silver! …and NOT the (so called) “collectible” value! (unless of course it is truly a ‘recognized’ collectible). Do you see the SCAM(?)
I certainly see it as a scam, but I couldn’t determine if there are any laws against selling something at a ridiculously inflated price. People often spend money, believing they’ll amplify their profits. I truly appreciate your comments; feel free to comment on any of my posts any day. Don’t forget to SUBSCRIBE to the DANNY: DE HEK YouTube channel at https://www.youtube.com/dehek?sub_confirmation=1. Tap the notification bell , and please share, like, and comment.
For those who may NOT know of the inherent SCAM in ALL Multi-Level-Marketing (MLM) businesses…I share these guidelines:
1) The ‘scam’ is NOT the product or service being offered. Quite the opposite, (as every MLM that I have been involved in, over the past 40+ years… Yes, I’m a slow-Learner…took me many years to ever figure it out)! The products do work the “miracles” just a advertised! …(think about it) this is WHY and HOW so many people get themselves involved with such MLMs …because of the products benefits to their own personal health experiences or their equipment’s such as their vehicles performance etc.
2) Yes, generally these products being offered actually can be purchased at a much lesser price, as all those “commissions” being (potentiality) paid-out to the “Active-Members” must be covered…so that’s legit.
3) And for most people exclaiming that “it’s a Pyramid-Scheme” are totally confused.
#1> any pyramid-scheme business is totally illegal and MLM businesses are totally legal! Just because it’s ‘pay-out’ structure is in the form of a “pyramid” does NOT make it a ‘pyramid’ …if that was the case, then even our local Grocery-Store would then be a pyramid’. The grocery store sells it’s products/produce…and makes a profit. The stores Owner/Manager (at the top of the pyramid pay-out makes that profit, of which shared (in the form of wages), with his/hers ‘Department-Managers’ (next tier of the pyramid form, and thus in succession with the levels following. (I’m not sure I did a good-job describing that, but just draw it out on a piece of paper…you’ll find the SAME pyramid-form payout in any business).
4) So where is the gotcha(?)
MLM “set” their “qualifying” for paying-out their commissions …that is the BIG DIFFERENCE!
[FACT] ~98% of all the various MLM “active-Members” will be selling their company’s product…HOWEVER NOT being “$$paid” for the products for which they have marketed (sold) …because they did NOT meet their qualifying requirements!
Think about it… The product was marketed/sold at the retail-value, the profits were made… But NOT paid out to the Members NOT qualifying!
And folks that would be akin to the Grocery-Store Owner/Manager NOT PAYING his/her Vegetables Manager..because he/she did NOT qualify in selling the required heads-of-lettuces for that week!
I didn’t actually say this was a scam in fact I was inconclusive, but I do believe that it does have multi level marketing and I also believe that the gold is overpriced and the collectables are only worth as much as someone is prepared to pay so telling someone the perceived value of something is misleading. I did do a search on Perplexity.ai Asking “7K Metals Review: Scam or Legit MLM”
7K Metals is a multi-level marketing (MLM) company that offers its members the opportunity to buy and sell precious metals, as well as earn commissions from their sales and the sales of their downline. However, some people have raised concerns about the high cost of the metals, the mandatory auto-ship program, and the limited market for these products.
Here are some pros and cons of 7K Metals based on the search results:
Pros:
The company is accredited by the Better Business Bureau and has a solid rating of 4.14 out of 5.
They have products people actually want to purchase.
The company is not a scam.
Cons:
The company has been criticised as a pyramid scheme due to its emphasis on recruitment and limited earning potential from selling products.
The products are exclusive for members only, which seems counter-intuitive and fishy.
The company requires a subscription, which can be expensive.
The company’s focus on recruitment may make it difficult to make sales.
It is unclear if 7K Metals members earn any significant income, and the company has not disclosed this information.
In conclusion, while 7K Metals is not a scam, it is important to do thorough research before joining any MLM company, including this one. The company has some pros and cons, and it is up to individuals to decide if this opportunity suits their investment needs and if they are comfortable with the MLM business model.
I have been in 7K for 2 years and find several things you say here wrong. I have not been required to purchase a travel card. In fact, have never heard of such. We are NOT required to purchase an auto ship monthly and there is a $250 payout with 250 points. Better get your facts straight before you start making accusations!!!!!
I haven’t signed up, nor have I invested any money in 7K Metals gold or silver. As a result, I lack a full understanding of how the program works, but I frequently watch meetings where individuals encourage others to join. Furthermore, the individuals promoting it have a history of involvement in multi-level marketing. The person I was reviewing had been a major advocate of HyperVerse, a well-known Ponzi scheme that collapsed last year.
I believe you need to pay a yearly subscription. Additionally, there is an opportunity to utilise their travel service, which is featured in the video. Perhaps you haven’t seen it yet. If I handed you a glass of water and mentioned that it contained only one percent poison, would you drink it? I believe this has 50% poison, they are minting real coins claiming they will be valuable made from gold and silver, the only guarantee is the value of gold and silver on the day that you want to sell up. The rest of the predictions a pie in the sky calculations.
When I showed an interest the guy was bombarding me with promotions and strongly gaslighting me into joining up hence why I did this review. I’m sure if I spent two weeks researching it I could find more shit but I don’t need to because there’s enough red flags in this get rich quick opportunity.
I have been with 7k metals for a little over a year and really love it. I do not agree with the statements in this article as they are wrong. I have earned as well as collected precious metals. There is not a better company out there. All of the other companies out there are a 1 owner gig and it is very hard to find out who actually runs the show. 7kmetals is not like that. Whether you are just collecting or doing both in earning and collecting, it is well worth it to be a part of this team. Will not go anywhere else. The soundmoney wallet is amazing. Do not believe this guy that wrote this article as apparently he did not do his research on this company. I have looked at all of the companies out there in this same type of business and none beats 7kmetals.
Thank you for your comment, Lisa. I don’t believe I actually provided any specific good or bad reviews. My observation is that if you’re inclined to pay for overpriced gold or silver, then by all means, go for it. Additionally, the perceived value is largely dictated by the company itself. If you examine the sales on eBay, you’ll notice that their own coins aren’t fetching much more than the actual cost to purchase them. It seems as though they’re primarily selling their coins within their own market. Keep collecting and hopefully you won’t get a rude awakening when you go and sell your valuable gold and silver coolings to an audience that is only within the same community, let’s just hope that everyone in the community isn’t selling for the same reason. And if I was going to invest in gold and silver I would purchase directly.