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 benefit from reduced precious metal prices and a multi-level income opportunity that some members refer to as “business-in-a-box”
The MLM business model is used to sell membership packages to individuals interested in precious metals, coins, bars and bullion
The company’s mission is to dramatically improve the lives of people around the world who are seeking a better quality of life
Gold, silver and other precious metals are the tools 7K Metals offers to help people achieve financial freedom and build wealth
Because they only charge their members the actual cost of precious metals, they offer the most affordable precious metals to their members.
These precious metals, such as gold bars and silver, are purchased by 7K from the world’s leading distributors at the lowest possible price
You are not only investing money, but also your time, effort and credibility when you join 7K Metals to build a downline and earn residual commissions.
Recommendation: Here’s The Best Alternative
Who Founded 7K Metals?
7k Metals is owned by the following people. Let me introduce them one by one to you.
Zack Davis
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.
Richard Hansen
Hansen has been in the network marketing industry for 34 years and is an experienced collector and prospector of precious metals.
Roger Ball
Ball is known for being an entrepreneur. After closing JD Premium in 2015, he was the owner of the company
Before he closed JD Premium, he owned the company. Paycation was another company he owned in 2012.
Josh Anderson
When Anderson was 21 years old, he discovered network marketing. He built more than 18,000 people in his first year with another MLM company in 2008 and another 9,000 people in his first four months with another MLM company in 2009
Anderson was named CEO of the organization shortly thereafter and led the organization to more than 26,000 members
In addition to serving as CEO of JD Premium, Davis was also CMO of the company from 2009-2011. The company sold personal care products and nutritional 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 selection of jewellery at 7k Metals
A premier private safe deposit company has also agreed to work with 7k Metals to ensure the security of your collections
On the 7k Metals website, you can purchase certain products at member prices, but you must live in the United States and be a member
In order for you to make money, you must know many wealthy people with disposable income.
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Can You Make Money With 7K Metals?
Each 7k Metals product you sell will be paid out according to a limited points system.
To receive a payout, you must earn 500 points. For each sale you make, you will receive 20 points. With this compensation plan, it is easy to understand why very few, if any, 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 about how much 7K Metals members earn, and the company has not disclosed this yet either
I think that very few people make money with 7K Metals MLM.
Is 7k Metals A Pyramid Scheme?
7k Metals is technically not a pyramid scheme, as members can still make money selling precious metals.
However, it is very hard to make a good income this way. Those who make the most money in the company are the ones who recruit the most employees.
So 7k Metals is a “Ponzi scheme in disguise.”
What is a Ponzi scheme?
An organization that pays members to recruit new members instead of selling products or services.
Pyramid schemes are banned in most countries because anyone can make money from them.
Like any MLM, 7k Metals offers legitimate products, namely precious metals.
However, the company focuses more on recruiting than selling.
Retail sales are not allowed at 7k Metals. Unaffiliated customers would be ideal for buying precious metals. If you are not a member, you cannot buy 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 offers decent products like precious metals, it is not a pyramid scheme.
You need to recruit new members to make money with 7k Metals. This is the point where the flags of the Ponzi scheme go up.
For those of you who still have concerns, we recommend checking out the company’s rating with the Better Business Bureau.
What are the 7K Metals Member Requirements?
You must meet certain requirements before you can begin.
- You must be of legal age in the country in which you reside;
- You must be legally able to enter into the 7k agreement in your home country
- 7k is now open for business in the United States, U.S. territories and other countries
- 7K requires US employees to have valid social security numbers and federal tax IDs.
- To become an affiliate outside the U.S., you must provide proof of residency and tax status in the country in which you reside or in which you wish to register.
- 7K Online requires a completed 7K Independent Associate Application and Agreement.
With a 7K membership, you get access to things like direct member pricing and collector training if you meet the requirements
Also, this is your first step to building a 7K downline and earning weekly payments.
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What are the 7K Metals MLM Membership Fees?
1. Members
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.
7K Metals Compensation Plan
The compensation plan at 7K Metals is what is known as a “binary” plan. If you recruit new members, you earn money
Think of it like an upside-down “V” with you at the top. When you sign up, there are members on both sides of you
You are rewarded with points depending on how much you 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:
- You need at least 25 points every month
- Win at least two new members who have 25 points in a month
- And finally, get a 5% bonus for each one you recruit.
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How Do You Get Paid by 7K Metals?
Due to the need to pay out commissions to a large number of distributors, MLM products tend to be more expensive than their direct sales counterparts.
However, 7K Metals offers gold and silver coins at what appears to be the lowest prices on the market, and at prices that match direct sales.
If that is the case, selling coins is not particularly lucrative.
Their main product is silver and gold bullion, but they also sell jewelry and “7K stuff” like hats and sweatshirts, although this is unlikely to generate enough revenue to pay out four and five figures every week.
The 7K Metals AutoSave Program
My first guess was that it was from people buying into 7K Metals, and that might be true to some degree.
Presumably you’re here because you want to know if the AutoSave program, a coin-of-the-month style membership, is worth it to get the weekly payouts and financial independence it promises.
The price ranges are as follows:
- $105/month – 1 oz Silver Eagle Coin
- $135/month – Variety Coin
- $309/month – 1/10th oz Gold Coin
If you’ve ever bought gold or silver coins, you may have noticed a discrepancy here.
The program is expensive because you can get a 1 oz Silver Eagle coin elsewhere for much less (between $35 and $40 instead of $105). That’s a discount of about 66 percent.
So why would you spend three times as much for a silver coin at 7K Metals as you’d elsewhere?
Because your upline gets paid the difference – $60-$70 per month, depending on which monthly plan you choose. Plus, the $60-$70 your sponsored recruits earn is used to compensate you.
If you’re only interested in coins, 7K Metals also offers a good deal here at a reasonable price. Weekly commissions are available, but only if you join this program.
It’s not a ridiculously expensive course of study, and you can consider a portion of your fees as an investment. However, if finances are tight, now is understandably not the best time.
Sound Money Wallet
The Sound Money Wallet is a digital access point, similar to the wallet apps you can use on your phone, and is made available to you after you join the 7K.
There you can buy gold and silver in both fractional ounces and whole ounces (fractional ounces).
You cannot send Sound Money amounts that are less than the weight of a whole coin, but you can keep them in your wallet.
Digital wallets are convenient, but having physical gold and silver in your home is a distinct advantage.
The benefits of having someone else hold your property outweigh the risks, but even the most careful people can’t predict what’ll happen if the “stuff” goes down the drain.
Click Transfer From (options include gold and silver assets, cash, cryptocurrencies, etc., as well as the bank account you originally set up)… and then click Transfer to (options include having your gold or silver sent to you or transferring it to someone else) to send it from your Sound Money wallet (see image below). Gold can be exchanged for silver, for example.
After selecting the source and destination accounts, you can specify the amount to be transferred. Please note that you can only select whole ounces if you want your gold or silver delivered to yourself.
While purchases and internal transfers of fractional ounces of gold and silver are supported, only whole ounces of real gold and silver can be held at any given time.
Depending on your location and the total amount you’re transferring, you can expect to incur higher costs for shipping, insurance, and handling.
However, there are limitations here as well. Only Gold Eagle 1/10 ounce coins and Silver Eagle 1 ounce coins are now available for online purchase and digital storage.
You can expect prompt delivery of products such as collectible and graded coins, coin holders and display cases, jewelry and bullion.
In addition, you can buy gold or silver only during the opening hours of the respective markets and at the corresponding spot price.
Is 7K Metals a Scam or Legit?
I cannot say 7K Metals MLM is a scam.
7k Metals is a reputable network marketing company because you get something in return for the fee you pay
Also, I have not seen any complaints online about substandard products, so people believe it’s genuine.
However, I do find the way the products are distributed a bit disturbing. It would have been nice if they gave the memberships directly to people instead of through MLM business models, since the products are only available to registered members
Also, there is a way for you to earn commissions by recruiting new members to buy 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.
Before making a decision, examine the cost of this company’s metals from a global perspective
Joining 7k Metals could be worth your while if the price is right, because if precious metals are your thing, then this could be just your thing
Although 7K Metals isn’t a scam, you should be wary of the claims and promises made by individual members
Read 7K Metals’ documentation and/or contact management if something doesn’t seem right to you
False and misleading statements about income and income projections are expressly prohibited.
In addition, 7K has a physical location that you can visit, which helps credibility, and now has offices in six countries (U.S., Canada, U.K., Australia, New Zealand and Singapore)
Another good indication that it’s not a scam is the accessible and known owners. The vast majority of scams (though not all) are run by shadowy figures you never see. Sometimes they aren’t even real people.
Pros of 7K Metals
1. 7k Metals Offers A Wide Variety Of Precious Metals
The one thing I like about 7k Metals is that they offer a variety of precious metals such as gold, silver, bronze, copper and even platinum. They also come in different forms including coins and bars.
If you are an avid gold or silver investor, you should check out 7k Metals.
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.
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Cons and Complaints of 7K Metals
1. The Cost of Precious Metals is High
It is risky to invest in precious metals because the market is unpredictable. However, gold is gold. So when the market goes down, you can keep it and then sell it when the market goes up again
The problem with gold (and other metals) is that it is still very expensive. So you should be careful not to overdo it if you do not have a lot of money.
2. You Need to Pay Subscription Fee to 7K Metals
When I review an MLM, I first look at the price of the subscription. It’s not right to pay $249 for the membership plus another $249 for the travel card.
Also, the premium membership is $499 and the travel card is another $499.
$1000 per year?
That just doesn’t make sense and I’d rather go to an independent dealer 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, this is somewhat misleading because you can not actually buy metals as a guest
You must provide the name of the member who recommended the site to you after you decide what you want to buy
If you have to pay a good chunk of money upfront for the membership before you can buy anything else, it seems a bit shady.
4. The Auto-Ship Program Is Mandatory
To maintain your status as a member, you must sign up for automatic delivery regardless of whether you like a particular product
This may not be a problem if precious metals are a hot seller, but you’ll likely be stuck with unwanted inventory
Now you understand why most members are actually losing money.
5. Most Members of 7K Metals Fail
The vast majority of members (more than 98%) drop out or fail, as is the case with most MLM companies
Since 7k Metals is relatively new, I assume that its members will also eventually quit
Most of the time, it’s the people who have been there from the beginning who make the most money.
In any MLM, it can be difficult to be successful.
Many studies have shown that between 72.5% and 99.9% of MLM members lose money.
Unfortunately, 7k Metals did not provide us with income data, so we can not see what their members are earning.
This is probably because they do not make good money.
6. Very Limited Market For 7K Metals MLM
Given the current situation, precious metals markets are small, if not shrinking, and 7K Metals confirms it
Gold and silver are hard to sell. They are not bought primarily for fun, but for long-term gains. How can you profit from shrinking markets?
People might be interested in buying gold bullion and precious metals, but will they actually buy them?
I think it’s a bit risky, especially if you have no experience with gold trading.
7. Investing In Precious Metals Is Risky
Investing in precious metals involves risk and therefore may not be suitable for everyone
7K Metals itself notes that trading in precious metals “can be volatile” and that investing in precious metals “may not be suitable for everyone”
In addition, precious metals investments are not insured by the CIPF or CDIC. When you cash in your insurance policy, you may receive a lower value than what you paid for
Before investing in precious metals, do your due diligence and talk to your financial advisor.
8. The MLM Business is Risky
MLM, of course, is not the only way for the people behind 7K Metals to make money and get more people to buy their precious metals products
It’s risky enough to invest in precious metals, but the risk becomes even greater when you add multi-level marketing to the mix.
Even 7K Metals points out 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
As incomes stagnate and priorities change, precious metals are becoming harder to sell, especially to the younger generation. They’re more likely to invest in cryptocurrencies than precious metals.
To earn commissions as a premium member of 7K Metals, you need to target people in the 40-65 age group.
Lawsuits and the FTC Actions of 7K Metals
It’s a good thing I couldn’t find any class action lawsuits or FTC actions on the internet involving the makers of 7K Metals.
Frankly, I expected that, as is common with the Auvoria Prime review I wrote.
A cursory investigation into the backgrounds of the people at the helm of 7K Metals-like companies usually reveals a tangled web of legal troubles and lawsuits related to defunct Ponzi schemes, some of which involved hundreds of millions of dollars in fraud and prison sentences.
You’ll be relieved to learn that I’ve been unable to find any evidence that 7K Metals or its owners were ever involved in any kind of wrongdoing.
Who Is 7K Metals For?
To determine if 7K Metals is right for you, consider whether you deal with a lot of people. You don’t need 100 people a month, but you do need a lot.
MLMs are a good fit for people who own, for example, a dance studio or martial arts school that’s access to a large number of people
7K Metals might be a good fit for you if you’re a church leader or involved in a church organization
However, the reality of network marketing is that it’s extremely difficult. This isn’t 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.
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Positive and Negative Feedback About 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.
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 do not recommend 7K Metals MLM to anyone looking to make passive income online.
The 7K Metals package offers some very helpful information on how to make money online and land very large commission checks.
In addition, network marketing is very saturated for the average person due to its unique drawbacks.
7k Metal may seem to be a solid company with good management, but at the end of the day it is still an MLM company and making money with MLM is not easy
Trying to sell silver or gold to your friends and family only to have them fail and accuse you of cheating them out of $250 or $500 is cause for unpleasant holidays and family gatherings
7K Metals is also not scalable, and that is where it fails.
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.
Recommendation: Here’s The Best Alternative
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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If you like the platform, you can then upgrade to the premium membership to get access to everything on the platform. There are no upsells afterwards.
But How Much Can You Earn with Wealthy Affiliate?
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Compared with Authority Hacker, Wealthy Affiliate has a much longer history, which has been established for 15 years and there are many success stories in the past decade. Actually, Wealthy Affiliate has more than a million members so far, so you can see how popular this platform is.
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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If you want to feel about Wealthy Affiliate, you can sign up for the free starter membership here (no credit card required). You can select to be a free member with no time limit.
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Recommendation: Here’s The Best Alternative
7K Metals MLM 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.
