Is 7K Metals a Scam or MLM? [Review]

Are you thinking about joining 7K Metals and want to know if it’s worth your time and money? You’re not alone! With so many scams out there, it’s important to do your research before getting involved in any online program.

As an online entrepreneur, I have reviewed many similar online opportunities over the years. So I can tell you what you need to know.

Before we dive in, I want to make it clear that I’m not affiliated with 7K Metals in any way. That means you can trust that my review is completely unbiased.

In this article, we’ll cover everything you need to know about 7K Metals, including whether it’s a scam or a legit way to make money online. So, let’s get started!

What Is 7K Metals?

7k Metals is a multi-level marketing company co-founded by Roger Ball, Richard Hansen, Zach Davis, and Josh Anderson back in 2016. They’re currently headquartered at 3640 S Yellowstone Hwy in Idaho Falls, ID.

So what makes 7k Metals special? Well, members get access to reduced precious metal prices, as well as a multi-level income opportunity. Some members even refer to it as a “business-in-a-box”! The MLM model is used to sell membership packages to folks interested in precious metals, coins, bars, and bullion.

But 7k Metals isn’t just about making a quick buck. The company’s mission is to help people around the world achieve a better quality of life. They believe that gold, silver, and other precious metals are powerful tools for achieving financial freedom and building wealth.

And the best part? 7k Metals only charges their members the actual cost of the precious metals they’re buying. That means you’re getting the most affordable precious metals around! They purchase gold bars, silver, and other metals from the world’s leading distributors at the lowest possible price.

Of course, joining 7k Metals isn’t just about investing money. You’re also investing your time, effort, and credibility. But if you’re willing to build a downline and put in the work, you can earn residual commissions and build your wealth over time.

You may also want to read our article on the top MLM companies.

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Is 7k Metals A Pyramid Scheme?

While 7K Metals is technically not a pyramid scheme, it’s important to know that making a good income selling precious metals can be difficult. The people who make the most money in the company are typically the ones who recruit the most employees.

So, what exactly is a Ponzi scheme? It’s an organization that pays members to recruit new members instead of selling products or services. Pyramid schemes are illegal in most countries because they allow anyone to make money from them, regardless of their efforts or abilities.

Although 7k Metals offers legitimate products (i.e., precious metals), the company seems to focus more on recruiting than selling. Retail sales are not allowed at 7k Metals, which means that only members can buy their products. This doesn’t seem to be their main focus.

In a nutshell, if you want to make money with 7k Metals, you’ll need to recruit new members. This is where the flags of a Ponzi scheme go up. However, as long as 7k Metals continues to offer decent products like precious metals, it’s not considered a pyramid scheme.

If you’re still unsure about joining 7k Metals, we recommend checking out the company’s rating with the Better Business Bureau. This can give you a better idea of how the company operates and whether or not it’s worth investing your time and money.

You may read our article on the difference between MLM and pyramid schemes here.

Also, if you’re interested in avoiding pyramid schemes, check out the following video:

Is 7K Metals a Scam?

7K Metals is not a scam. Let me explain.

First things first, 7K Metals is a network marketing company, which means that you pay a fee to become a member and can then earn commissions by recruiting new members and selling their products. Some people find this distribution model a bit off-putting, but it’s not necessarily a red flag.

What’s important is that 7K Metals offers high-quality products. From what I could find, there haven’t been any complaints about substandard goods, which is a good sign. Plus, the company has physical locations in six countries and known owners, which all lend to its credibility.

If you’re considering joining 7K Metals, make sure to examine the cost of their metals from a global perspective to ensure you’re getting a fair deal. And, if you’re not familiar with network marketing or precious metals, it might not be the right fit for you.

It’s worth noting that while 7K Metals itself isn’t a scam, you should be wary of any claims or promises made by individual members. False and misleading statements about income are prohibited, so make sure to read the company’s documentation and contact management if anything seems amiss.

Overall, if you’re knowledgeable about precious metals and have experience with MLM companies, 7K Metals might be worth considering. But, as with any investment opportunity, do your research and proceed with caution.

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Meet the People Behind 7K Metals

Well, let me introduce you to the team of 7K Metals.

First up, we have Zack Davis. He’s got a lot of experience with MLM companies and was introduced to network marketing as a college student. He’s helped many people reach their goals and he and Anderson have been running Black Ink International since 2011.

Next, there’s Richard Hansen. He’s been in the network marketing industry for 34 years and is an experienced collector and prospector of precious metals.

Then, we have Roger Ball, who’s known for being an entrepreneur. He used to own JD Premium and Paycation in 2015 and 2012, respectively.

Last but not least, we have Josh Anderson. He discovered network marketing at the young age of 21 and has built an impressive network of over 18,000 people in his first year with another MLM company in 2008. He later became CEO of that same organization and led it to more than 26,000 members.

It’s also worth noting that Davis was the CMO of JD Premium from 2009-2011, a company that sold personal care and nutritional products.

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What Are The Products of 7K Metals?

If you’re looking for precious metal products, 7K Metals has got you covered! They offer a wide range of items, including gold coins, mint silver, and platinum, gold, and silver bars.

Here’s a quick rundown of the prices for each product:

  • Silver coins range from $19 to $226
  • Gold coins are priced from $162 to $1,945
  • Silver bars are $18.88 per ounce
  • Gold bars are $155 per ounce
  • Platinum bars are $966 per ounce
  • And if you’re feeling fancy, you can splurge on a kilogram of gold for up to $47,627!

But wait, there’s more! 7K Metals also offers a selection of beautiful jewelry for you to choose from. Plus, they’ve partnered with a top-notch private safe deposit company to ensure the security of your valuable collections.

If you’re in the United States and a member of 7K Metals, you can snag some products at a discounted member price on their website.

How to Make Money With 7K Metals?

If you’re considering selling 7K Metals products, here’s the deal: to receive a payout, you’ll need to earn 500 points. Every sale you make will earn you 20 points.

Now, some people have criticized MLMs (multi-level marketing) like 7K Metals, saying that they’re hard to succeed in. And to be honest, they might have a point – statistics show that MLM members often lose money, with success rates as low as 0-30%. You can read more about this issue here if you’re interested.

Unfortunately, we couldn’t find any information about how much 7K Metals members actually earn. The company hasn’t released this information yet. But based on what we know about MLMs, it’s safe to say that not many people are making a lot of money with this company.

Recommendation: Here’s The Best Alternative

Investing in Gold and Silver with 7K Metals

If you’re interested in investing in gold and silver with 7K Metals, here’s what you need to know:

The Cost of MLM Products

One of the downsides of MLM (multi-level marketing) products is that they tend to be more expensive than their direct sales counterparts because of the need to pay commissions to a large number of distributors. However, 7K Metals offers gold and silver coins at prices that match direct sales and appear to be the lowest on the market.

The AutoSave Program

7K Metals’ main product is silver and gold bullion, but they also offer a coin-of-the-month style membership called the AutoSave program. The program promises weekly payouts and financial independence and is available at the following price ranges:

  • $105/month – 1 oz Silver Eagle Coin
  • $135/month – Variety Coin
  • $309/month – 1/10th oz Gold Coin

While the program is more expensive than buying coins elsewhere, it offers a good deal if you’re interested in coins. However, keep in mind that your upline gets paid the difference, and if finances are tight, now might not be the best time to invest.

Sound Money Wallet

After joining 7K Metals, you can access the Sound Money Wallet, which is a digital access point similar to wallet apps on your phone. You can buy gold and silver in fractional and whole ounces but can only transfer whole ounces to yourself. While digital wallets are convenient, physical gold and silver have the advantage of being in your possession.

When transferring funds, keep in mind that there are limitations on the types of coins available for online purchase and digital storage. 

Additionally, shipping, insurance, and handling costs can vary depending on your location and the total amount you’re transferring. You can buy gold or silver only during the opening hours of the respective markets and at the corresponding spot price.

Overall, if you’re interested in investing in gold and silver, 7K Metals might be worth considering. Just keep in mind the costs and limitations of the AutoSave program and Sound Money Wallet.

7K Metals Compensation Plan

Their compensation plan is called a “binary” plan, which basically means that if you recruit new members, you earn money.

Here’s how it works: imagine an upside-down “V” with you at the top. When you sign up, there are members on both sides of you. You earn points depending on how much you sell at 7K Metals. Affiliates can either sign up new members or pay their own $250 annual fee (100 points). Coins are purchased with automatic delivery (25 points). You also earn money from the coins purchased from the affiliates you signed up with.

But here’s the catch: you’ll only be paid if you make the least amount of sales with 7K Metals. It might seem counterintuitive, but it actually helps ensure that everyone on the team is contributing equally.

There are two commission plans you can choose from based on your team’s sales. If both your left and right sides have 500 points, you can earn $500/week. If they have 1,000 points, you can earn $1,000/week. Anything between 500 and 1,000 gets reset the following week.

7K Metals pays out when you reach certain milestones. First, you need at least 25 points every month. Second, you need to win at least two new members who have 25 points in a month. And finally, you get a 5% bonus for each new member you recruit.

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7K Metals Membership: What You Need to Know

If you’re interested in becoming a 7K Metals member, there are a few requirements you need to meet first. Don’t worry, they’re not too difficult to meet. Here’s what you need to know:

  1. Age Requirements: You must be of legal age in your country of residence to become a member.
  2. Legal Ability: You must also be legally able to enter into the 7K agreement in your home country.
  3. Availability: Currently, 7K is open for business in the United States, U.S. territories, and some other countries.
  4. Employee Requirements: For US employees, a valid social security number and federal tax ID are required.
  5. International Affiliate Requirements: If you’re an affiliate outside of the US, you’ll need to provide proof of residency and tax status in the country you reside in or wish to register in.
  6. 7K Independent Associate Application and Agreement: To become a member of 7K Online, you’ll need to complete the 7K Independent Associate Application and Agreement.

As a 7K member, you’ll enjoy perks like direct member pricing and collector training if you meet the requirements. Plus, becoming a member is the first step to building a 7K downline and earning weekly payments.

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7K Metals Membership Fees and Travel Savings Card Prices

If you’re looking to become a member of 7K Metals, you might be wondering about their membership fees and travel savings card prices. Don’t worry, we’ve got you covered!

First things first, all members are required to have either a basic or premium membership. The basic membership costs $249 per year, while the premium membership costs $449 per year.

In addition to your membership, you’ll also need to purchase a travel savings card from 7K Metals. The card can help you save money on your travels, and the prices are as follows:

  • Basic Membership: $250
  • Premium Membership: $500

Who Is 7K Metals For?

If you’re wondering if 7K Metals is a good fit for you, think about how much interaction you have with people. You don’t necessarily need to be meeting a hundred people every month, but it helps to have a decent network.

7K Metals is a great option for those who own businesses with a large customer base, like dance studios or martial arts schools. Church leaders or members involved in church organizations can also benefit from this program.

However, let’s be real, building a successful multi-level marketing business, including 7K Metals, is no walk in the park. You have to be willing to go the extra mile and reach out to strangers regularly for months and years.

If you’re not afraid to put yourself out there and you have a friendly and outgoing personality, 7K Metals might be perfect for you. Plus, having access to a lot of people regularly and having enough funds to cover the AutoSave program and membership costs is a definite bonus.

In short, 7K Metals is for those who are comfortable with the idea of recruiting and have the necessary financial resources.

Benefits of Joining 7K Metals

A Wide Variety of Precious Metals to Choose From

The great thing about 7K Metals is that they offer a wide variety of precious metals, including gold, silver, bronze, copper, and even platinum. Plus, they come in different forms, such as coins and bars. If you’re an avid gold or silver investor, you should definitely check out 7K Metals for their selection.

Protection Against Inflation

In today’s world, every currency is a “fiat currency.” This means that it’s not backed by any physical commodity, such as gold. As a result, inflation can occur, which can devalue your money over time. 

However, by investing in precious metals like gold and silver, you can hedge against inflation and protect your wealth from the current crazy system.

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Drawbacks of Joining 7K Metals

The Cost of Precious Metals is High

While gold and other precious metals can be a smart investment, they come with a hefty price tag. It’s important to be cautious and not overextend yourself if you don’t have a lot of money to invest. However, it’s worth noting that when the market goes down, you can hold onto your precious metals and wait for prices to go up before selling.

You Need to Pay Subscription Fee to 7K Metals

One thing to keep in mind when considering 7K Metals is the cost of membership. Their subscription fees can add up quickly, with prices ranging from $249 to $999 per year. This might not make sense for everyone, especially when you factor in the additional cost of their travel card. It may be more cost-effective to buy precious metals from an independent dealer instead.

To Purchase Products, You Need To Become A Member Of 7 K Metals

Another downside to 7K Metals is that you can’t purchase products as a guest. You have to become a member and provide the name of the person who recommended you to the site before you can make a purchase. This may seem a bit shady and could be a turn-off for potential investors.

The Auto-Ship Program Is Mandatory

If you want to maintain your membership with 7K Metals, you must sign up for their automatic delivery program. This means you’ll receive products on a regular basis, regardless of whether you actually want them or not. This could result in unwanted inventory piling up, which could be frustrating and costly for members.

Most Members Fail

Like many MLM companies, the vast majority of members (more than 98%) end up dropping out or failing. And since 7K Metals is relatively new, it’s likely that many of its members will eventually quit as well. 

Plus, in any MLM, it can be difficult to be successful. Studies show that between 72.5% and 99.9% of MLM members actually lose money. Unfortunately, 7K Metals hasn’t provided us with any income data, so we can’t see what their members are earning. This could be a red flag that their members aren’t making good money.

Limited Market

The precious metals market is relatively small and may even be shrinking. 7K Metals confirms this fact. Plus, gold and silver are hard to sell. They aren’t typically bought for fun but rather for long-term gains. It might be challenging to profit from shrinking markets. And if you have no experience with gold trading, it could be a bit risky.

Investing is Risky

Investing in precious metals involves risk and may not be suitable for everyone. 7K Metals notes that trading in precious metals “can be volatile” and that investing in precious metals “may not be suitable for everyone.” 

Additionally, precious metals investments aren’t insured by the CIPF or CDIC. This means that when you cash in your insurance policy, you may receive a lower value than what you paid for. If you’re considering investing in precious metals, make sure you do your due diligence and talk to your financial advisor first.

MLM is Risky

Multi-level marketing (MLM) adds another layer of risk to investing in precious metals. Even 7K Metals points out that your success depends on your ability to sell, which requires hard work, diligence, and leadership. This can be a daunting task, especially if you’re new to MLM.

Younger Buyers Are Harder to Sell To

As incomes stagnate and priorities change, precious metals are becoming harder to sell, especially to the younger generation. Younger buyers are more likely to invest in cryptocurrencies than precious metals. This means that if you’re a premium member of 7K Metals, you’ll need to target people in the 40-65 age group to earn commissions.

No Legal Troubles for 7K Metals and Its Owners

So, I did a little digging on the makers of 7K Metals and I couldn’t find any class action lawsuits or FTC actions against them. That’s definitely good news, especially compared to the legal issues that other companies in this industry have faced.

Usually, when I look into companies like this, I find a lot of legal troubles related to Ponzi schemes and fraud, which can involve millions of dollars and even prison sentences. But, thankfully, that doesn’t seem to be the case with 7K Metals.

I looked into the backgrounds of the people in charge, and I couldn’t find any evidence of wrongdoing on their part either. So, if you’re considering getting involved with 7K Metals, it seems like you can do so with confidence that you’re dealing with a reputable company.

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Final Verdict

If you’re looking to make some extra cash online, you might have stumbled upon 7K Metals. But after reviewing the company, I don’t recommend it to anyone who wants to make passive income.

Sure, 7K Metals offers some useful information on how to earn money online and score some big commission checks. But let’s face it, network marketing is tough for the average person. It’s a saturated industry with some unique drawbacks.

Despite having good management, 7K Metals is still an MLM company. And as we all know, making money with MLM isn’t easy. You might end up trying to sell silver or gold to your friends and family, only to have them accuse you of ripping them off.

Plus, 7K Metals isn’t scalable, which is a big problem. You only have so many hours in a day, and there are only so many people you can reach by yourself. MLM companies know this, which is why they push so hard for you to recruit. It’s the only way to get rich with MLM.

But don’t worry, I’ve got a better recommendation for you. It’s a more sustainable and easier way to make passive income from home. In the next section, I’ll tell you more about it.

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Is There a Better Way to Make Money Online?

If you’re beginning your online business journey, you deserve a program much better than 7K Metals MLM.

My #1 recommended platform is called Wealthy Affiliate.

Wealthy Affiliate is an all-in-one platform for building your affiliate marketing business from scratch.

You may read our article about the difference between MLM and affiliate marketing.

When you join Wealthy Affiliate, you can get access to the first-class web hosting service, keyword research tools, community support, comprehensive training, writing tools, and other software to help you build an online business step-by-step.

You can register a free account with Wealthy Affiliate, which enables you to get started with affiliate marketing right away without paying a penny.

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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Wealthy Affiliate Testimonial

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.

You can read our full review of Wealthy Affiliate here.

Where to Join Wealthy Affiliate?

Wealthy Affiliate has a very simple pricing scheme. It has a free and premium membership. The premium membership only costs $49/month or $395/year.

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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