Are you looking for a 7K Metals MLM Review? Is 7K Metals MLM a scam?
If you want to make money online, you may have heard of 7K Metals MLM. There is a good chance that you heard about 7K Metals MLM through someone – a friend or family member.
But since there are so many scams online, you may wonder if you can trust it or not.
I have a passion to help people explore the best money-making opportunities online, so over the years, I have reviewed hundreds of similar online programs like 7K Metals MLM.
In the past week, I have done thorough research about the 7K Metals MLM, so I can tell you everything you need to know about it.
As a disclaimer, I’m not affiliated with 7K Metals MLM, which means I’m not paid to write this review for 7K Metals MLM. So you can be sure that my words are unbiased.
In this 7K Metals MLM review, I’m going to cover the following in this review:
What Is 7K Metals?
Co-founded in 2016 by Roger Ball, Richard Hansen, Zach Davis, and Josh Anderson, 7k Metals is a multi-level marketing company.
Their current headquarters is located at 3640 S Yellowstone Hwy in Idaho Falls, ID.
Members enjoy reduced precious metal prices as well as a multi-level income opportunity referred to as a business-in-a-box by some members.
The MLM business model is used to provide membership packages to people interested in precious metals, coins, bars, and bullion.
Company’s mission is to dramatically improve the lives of people all over the world who strive to improve their quality of life.
Gold, silver, and other precious metals are the tools 7K Metals offers to help people obtain financial freedom and build wealth.
By only charging their members their actual cost for precious metals, they provide their members with the most inexpensive precious metals.
These precious metals, like gold bars and silver, are purchased by 7K from the world’s leading distribution outlets for the lowest price possible.
You are not just investing money, but also your time, effort, and credibility if you join 7K Metals to build a downline and earn residual commissions.
Who Founded 7K Metals?
7k Metals is owned by the following people. Let me introduce them one by one to you.
Anderson and Davis have the most experience with MLM companies. As a college student, Davis was introduced to network marketing and has since helped many people reach their goals.
Black Ink International is a MLM company he and Anderson have operated since 2011.
Hansen has been in the network marketing industry for 34 years and is an experienced collector and miner of precious metals.
Ball is known for being an entrepreneur. After closing JD Premium in 2015, he was the owner of the company.
Before closing JD Premium, he owned the company. Paycation was another company he belonged to in 2012.
When Anderson was 21 years old, he discovered network marketing. Over 18,000 people were built in his first year with another MLM company in 2008, and another 9,000 people were built in his first four months with another MLM company in 2009.
Anderson was named CEO of the organization shortly after and led the organization to over 26,000 members.
In addition to being CEO of JD Premium, Davis was CMO of the company from 2009-2011. They distributed personal care products and nutrition products.
What Are The Precious Metal Products of 7K Metals?
7k Metals sells the following products:
- gold coins
- mint silver
- platinum, gold and silver bars
The following is a breakdown of pricing:
- Silver coins – $19-226
- Gold coins – $162-1,945
- Silver bars – $18.88/oz
- Gold bars – $155/oz
- Platinum bars – $966/oz
- As much as $47,627 for a kilogram of gold.
You can also choose from a wide variety of jewelry at 7k Metals.
A top private safe company has also agreed to partner with 7k Metals in order to ensure that your collections will be safe.
The 7k Metals website does allow you to shop for specific products at member’s prices, but you need to live in the United States and be a member.
For you to make money, you must know a great deal of wealthy people with disposable income.
Can You Make Money With 7K Metals?
Each 7k Metals product you sell will be paid out according to a restricted point system.
In order to receive a payout, you must earn 500 points. You earn 20 points for every sale you make. With this compensation plan, it is easy to understand why very few or no people are successful with MLM.
MLM members lose money almost 70-100% of the time. You can learn more about this industry here.
We could not find any information on how much 7K Metals members earn, and the company hasn’t yet revealed that.
I think very few people make money through 7K Metals MLM.
Is 7k Metals A Pyramid Scheme?
7k Metals is technically not a pyramid scheme since members can still earn money by selling precious metals.
However, it’s very hard to make a good living this way. The people who earn the most money in the company are the ones who recruit the most employees.
Thus, 7k Metals is a “pyramid scheme disguised.”
What is a pyramid scheme?
An organization that pays members for recruiting new members instead of selling products or services.
Pyramid schemes are banned in most countries because anyone can earn money from them.
As with any MLM, 7k Metals offers legitimate products, which are precious metals.
The company, however, focuses more on recruiting than sales.
Retail sales are not permitted through 7k Metals. Unaffiliated customers would be ideal for buying precious metals. If you’re not a member, you can’t purchase anything.
The product does not seem to be their main focus.
Here’s a 5-minute video explaining the concept of a pyramid scheme.
As long as 7k Metals has decent products, like precious metals, then they are not a pyramid scheme.
You must sign up new members to make money with 7k Metals. That’s where the pyramid scheme flags go up.
For those of you who still have reservations, we recommend checking out their rating with the Better Business Bureau.
What are the 7K Metals Member Requirements?
You must meet certain requirements before you can begin.
- In your country of residence, you must be of legal age;
- Have the legal capacity to enter the 7k Agreement in your home country
- 7k is now open for business in the United States, US Territories, and other countries
- 7K requires valid Social Security numbers and Federal Tax IDs from US associates.
- In order to become an associate outside of the US, you must show proof of residency and tax status in the country you reside in, or in the country you are enrolling in.
- 7K Online requires a completed 7K Independent Associate Application and Agreement.
A 7K membership gives you access to things like member direct pricing and collector training if you meet their requirements.
Additionally, it’s your first step toward building a 7K downline and earning weekly payments.
What are the 7K Metals MLM Membership Fees?
The basic or premium membership is required for all members. Here are the prices:
- Basic Membership: $249 / year
- Premium Membership: $449 / year
2. Travel Card
A travel savings card must also be purchased from 7k Metals. Prices are as follows:
- Basic Membership: $250
- Premium Membership: $500
With this program, you can always find the best deals on travel.
How Does 7K Metals Compensation Plan Work?
The compensation plan at 7K Metals is called a “binary” plan. When you sign up new members, you make money.
Basically, think of it as an upside down “V”, where you are at the top. You will have members on either side of you when you sign up.
You are rewarded points based on how much you’ve sold at 7k Metals:
- Affiliates either sign up new members or pay their own $250 annual fee (100 points).
- Coins are purchased with automatic delivery (25 points)
- You earn money from the coins purchased from the affiliates you signed up with
- You will only be paid if you make the least amount of sales with 7k Metals
- You can choose between two commission plans based on your team’s sales
- You earn $500/week if both your left and right sides have 500 points
- If they have 1,000 points, you earn $1000/week
- Anything between 500 and 1,000 gets reset the following week
7k Metals pays out when you reach certain milestones:
- Every month, you need at least 25 points
- Get at least two new members who have 25 points in a month
- And finally, a matching bonus of 5% for anyone you refer.
Is 7K Metals A Scam?
I cannot say 7K Metals MLM is a scam.
7k Metals is a legitimate network marketing company since you get something in return for the fee you pay.
Furthermore, I haven’t seen any complaints online about shoddy products, so people believe it’s real.
However, I find something unsettling about the way the products are distributed. It would have been nice to see them provide memberships directly to people instead of through MLM business models since it’s only available to enrolled members.
Furthermore, there is a way for you to earn commissions by bringing in new members so they may purchase these precious metals at a ‘discount’.
7K Metals might be worth a shot if you’ve worked with an MLM company in the past and are knowledgeable about precious metals.
Prior to making a decision, you should research the cost of the metals from this company from a worldwide perspective.
A membership with 7k Metals might be worth your time if the price is right, because if precious metals are your thing, then this could be right up your alley.
While 7K Metals is not a scam, you should be cautious of the claims and promises made by individual members.
Refer to the 7K Metals documentation and/or contact their leadership if something doesn’t sound right.
False and misleading statements regarding income and income projections are specifically prohibited.
Moreover, 7K has a physical location you can visit, which lends credibility, and now has locations in six countries (U.S., Canada, U.K., Australia, New Zealand, and Singapore).
Having accessible and well-known owners is another good indication that it’s not a scam. The vast majority of scams (although not all) are run by shadowy figures you never see. Sometimes they aren’t even real people.
7K Metals MLM Pros
1. 7k Metals Offers A Wide Variety Of Precious Metals
The only thing I like about 7k Metals is that they offer a variety of precious metals like gold, silver, bronze, copper, and even platinum. They also come in different forms including coins and bars.
You might want to check out 7k Metals if you are an avid gold or silver investor.
2. Inflation Can Be Hedged By Precious Metals
Today, every currency in the world is a “fiat currency“.
If you understand this, you will see that Gold and Silver are some of the best asset classes for protecting people against inflation and the current crazy system.
7K Metals MLM Cons and Complaints
1. The Cost of Precious Metals is High
It is risky to invest in precious metals due to the unpredictable nature of the market. Gold, however, is gold. Therefore, if the market drops, you can hold onto it and then sell it when the market rises again.
The problem with gold (and other metals) is that it’s still very expensive, so you should be careful not to overdo it if you don’t have a lot of money.
2. You Need to Pay Subscription Fee to 7K Metals
When reviewing an MLM, I look at the subscription price first. It isn’t right to pay $249 for the membership plus another $249 for the travel card.
Furthermore, the Premium membership costs $499 and the travel card is another $499.
$1000 a year?
It just doesn’t make sense and I’d rather go to an independent distributor and buy my precious metals.
3. To Purchase Products, You Need To Become A Member Of 7 K Metals
Although they advertise a guest checkout option on their website, it’s a little misleading because you can’t really buy metals as a guest.
You must provide the name of the member who suggested the site to you after you have decided what you want to purchase.
If you need to pay a good chunk of money up front for membership before you can purchase anything else, it seems fishy.
4. The Auto-Ship Program Is Mandatory
To maintain your status as a member, you must sign up for auto-delivery, regardless of whether you like a particular product.
While this may not be an issue if precious metals are hot sellers, you’re likely to be stuck with unwanted inventory.
Now you understand why most members actually lose money.
5. Most Members of 7K Metals Fail
The vast majority of its members (upwards of 98%) quit or fail, as is the case with most MLM companies.
7k Metals is relatively new, so I expect eventually its members will call it quits as well.
For the most part, it is the people who were there at the beginning who make the most money.
Any MLM can be difficult to succeed in.
Many studies have shown that between 72.5% and 99.9% of MLM members lose money.
Sadly, 7k Metals did not provide us with any income disclosure statement, so we cannot see what their members are earning.
It’s probably because they aren’t making good money.
6. Very Limited Market For 7K Metals MLM
Considering the current state of affairs, precious metals markets are small, if not shrinking and 7K Metals confirms this.
Gold and silver are difficult to sell. They’re not bought primarily for fun, but for long-term profit. How can you profit from dwindling markets?
People could be interested in buying gold bars and precious metals, but will they actually buy them?
I find it a bit risky, especially if you have no experience with gold trading.
7. Investing In Precious Metals Is Risky
There are inherent risks associated with precious metal investments, so they may not be suitable for everyone.
7K Metals itself disclaims that precious metals trading “can be volatile,” and that investing in precious metals “may not be suitable for everyone.”
In addition, precious metal investments are not insured by the CIPF or CDIC. If you redeem your insurance policy, you may receive a lower value than what you paid.
Be sure to do your due diligence before investing in precious metals and speak with your financial advisor.
8. The MLM Business is Risky
MLM is, of course, not the only way for the people behind 7K Metals to make money and to get more people to buy their precious metals products.
It’s risky enough to invest in precious metals, but the risk is compounded when you add multi-level marketing to it.
Even 7K Metals disclaims that your success depends on your ability to sell, which requires hard work, diligence, and leadership.
9. It Is More Difficult To Market Precious Metals To Younger Buyers
Because incomes are stagnating and priorities are changing, precious metals are becoming harder and harder to sell, especially to the younger generation. They’re more likely to invest in cryptocurrency rather than precious metals.
To earn commissions as a 7K Metals premium member, you need to target individuals in the 40- to 65-year-old age range.
Who Is 7K Metals For?
To determine if 7K Metals is right for you, you should consider whether you’re exposed to a lot of people. You don’t need 100 people a month, but a lot.
MLMs are a good fit for people who own a dance studio, for example, or a martial arts school that provides access to a large number of people.
7K Metals might be a good fit for you if you are a church leader or are involved in a church-related organization.
However, the reality of network marketing is that it’s extremely difficult. That’s not a hypothetical statement.
You cannot build a successful 7K Metals business (or any multi-level marketing business for that matter) if you are not comfortable going out of your way to recruit strangers every day for months (and years).
It is best for someone who doesn’t mind recruiting to play 7K Metals. Ideally, you should be outgoing and able to deal with rejection.
If you have access to a lot of people regularly and have enough disposable income to cover the monthly AutoSave program and membership costs, this is even better.
7K Metals MLM Positive and Negative Feedbacks by Real Users
7K Metals MLM Positive Feedbacks
- Their leadership experience is outstanding
- Metals can be purchased at an affordable price by members.
- Plan of compensation is simple.
- Commissions are paid weekly.
7K Metals MLM Negative Feedbacks
- Unless you are a member, you cannot purchase
- A lot of their efforts are devoted to recruiting new members
- The company’s precious metal product line is limited
- It appears that commissions are generated from memberships and monthly autoship premiums rather than product sales.
- No income disclosure statement.
7K Metals MLM Review: Final Verdict
Here comes the conclusion of my 7K Metals review. Overall, I don’t recommend 7K Metals MLM to anyone who wants to make passive income online.
The 7K Metals package does offer some very helpful information on how to make money online and land some very large commission checks.
In addition, network marketing is becoming very saturated for the average person due to its unique downsides.
7k Metal may appear to be a solid company with good management, but in the end, it is still an MLM company and MLM is not easy to make money.
If you try to sell silver or gold to your friends and family, just to have them fail and blame you for scamming them out of $250 or $500, it makes for awkward holidays and family reunions.
7K Metals also lacks scalability, which is where it falls short.
A day only has a certain amount of time and you can only reach so many people by yourself.
Companies in the MLM industry know this. The reason they push so hard for you to recruit is because if you are a one-person operation, you can’t get rich.
I have a better recommendation for you that would allow you to make passive income from home. It’s a more sustainable and easier way to make passive income online.
Let me tell you more about this in the next section.
The Best Alternative of 7K Metals MLM To Make Passive Income Online
If you’re beginning your online business journey, you deserve a programme much better than 7K Metals MLM.
My #1 recommended platform is called Wealthy Affiliate.
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But How Much Can You Earn with Wealthy Affiliate?
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To give you more examples, here are some of the other inspiring success stories of Wealthy Affiliate members.
Where to Join Wealthy Affiliate?
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7K Metals MLM Review FAQs
1. What are the Problems with Multi-Level Marketing?
People at the top of the company are more likely to make money through multi-level marketing, while those at the bottom are more likely to lose money. Climb the ladder if you want to make money. The most successful founders are at the top.
Multi-level marketing has one of the biggest problems in that it is impossible for everyone to make money. You have to convince others to join in order to be successful.
7k Metals is not necessarily like this, as you can choose not to participate in the referral program. However, referrals are the fastest way to make money. You’ll need to find buyers in a competitive industry if you want to make money with precious metals.
There are companies that sell you precious metals without charging you any fees if you want to invest in them for your portfolio. The goal at 7k Metals is to create products that people can resell.
There are many members who do not make any money. As a result, they lose the cost of their membership while the person who referred them receives compensation.
There are also dealers who can supply you without requiring membership if you want to run a small business selling precious metals.
2. Should You Join 7K Metals?
You should investigate 7K Metals further if you’re okay with it being a network marketing company. This could be an opportunity for you if you have some MLM experience. Particularly for those who are interested in purchasing precious metals like silver and gold.
I would stay away from 7k Metals if you do not enjoy the MLM business.
Add to that the fact that if you are not interested in precious metals, I would pass.
To purchase precious metals, one must have a certain amount of money due to their nature and cost.
Purchasing these products may not be in your best interest if money is an issue for you and if money is an issue for others in your circle of influence, your warm market prospecting will hamper your ability to earn commissions.