A 7K Metals MLM review is a good way to get an unbiased look at the company’s business opportunity.
7K Metals is a company that promises to help people make money online. The company has been sued by the FTC and accused of being a pyramid scheme, so it’s hard to know if 7K Metals is really worth your time.
Are you searching for a review of 7K Metals MLM? Is Seven Thousand Metals a Pyramid Scheme?
You may have heard about 7K Metals MLM if you desire to earn money online. There’s a strong chance you learned about 7K Metals MLM through someone you know — a friend or family member.
However, with so many internet frauds, you may be unsure if you can trust it.
I’ve spent years reviewing hundreds of comparable online programs like 7K Metals MLM because I’m passionate about assisting others in discovering the finest money-making possibilities online.
I’ve spent the last week researching the 7K Metals MLM so that I can tell you all you need to know about it.
As a disclosure, I am not involved with 7K Metals MLM and have not been compensated to write this review. As a result, you can be certain that my opinions are impartial.
In this 7K Metals MLM review, I’ll go over the following:
What Exactly Are 7K Metals?
7k Metals is a multi-level marketing firm formed in 2016 by Ball, Roger, Hansen, Richard, Zach Davis, and Anderson, Josh.
The company’s present headquarters are at 3640 S Yellowstone Hwy in Idaho Falls, ID.
Members benefit from lower precious metal prices as well as a multi-level revenue possibility, which some regard to as a “business-in-a-box.”
People interested in precious metals, coins, bars, and bullion are offered membership packages via the MLM business model.
The objective of the company is to make a significant difference in the lives of individuals all over the globe who want to better their quality of life.
7K Metals provides gold, silver, and other precious metals as instruments to help individuals achieve financial independence and develop wealth.
They supply the most affordable precious metals to their members by simply charging them their real cost for precious metals.
7K purchases these precious metals, such as gold bars and silver, for the lowest feasible price from the world’s largest distribution channels.
If you join 7K Metals to grow a downline and make residual commissions, you are not only spending money, but also your time, effort, and reputation.
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7K Metals was founded by who?
The following individuals own 7k Metals. Let me present you to them one by one.
Davis, Zack
Anderson and Davis have the most MLM company experience. Davis was exposed to network marketing as a college student and has since assisted many others in achieving their objectives.
Since 2011, he and Anderson have run Black Ink International, a multilevel marketing organization.
Hansen, Richard
Hansen has been in the network marketing profession for 34 years and is a seasoned precious metals collector and miner.
Ball, Roger
Ball is well-known for his business acumen. He was the sole owner of JD Premium when it closed in 2015.
He owned JD Premium prior to its closure. In 2012, he worked for another firm called Paycation.
Anderson, Josh
Anderson found network marketing when he was 21 years old. In his first year with another MLM firm in 2008, he developed almost 18,000 individuals, and another 9,000 people in his first four months with another MLM company in 2009.
Soon after, Anderson was chosen CEO of the group, which had grown to over 26,000 members.
Davis was the company’s CMO from 2009 to 2011, in addition to being CEO. Personal care and nourishment supplies were supplied.
What Are 7K Metals’ Precious Metal Products?
The following items are available from 7k Metals:
- coins of gold
- silver mint
- Bars of platinum, gold, and silver
The following is a price breakdown:
- $19-226 in silver coins
- coins of gold – $162-1,945
- $18.88/oz silver bars
- $155/oz gold bars
- $966/oz platinum bars
- A kilogram of gold may cost up to $47,627.
7k Metals also has a large selection of jewelry to pick from.
A renowned private safe firm has also agreed to work with 7k Metals to assure the safety of your valuables.
You may browse for particular items at member’s pricing on the 7k Metals website, but you must reside in the United States and be a member.
You must know a lot of affluent individuals with discretionary cash in order to earn money.
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Is it Possible to Make Money With 7K Metals?
A limited point system will be used to pay out for each 7k Metals product you sell.
You must earn 500 points to be eligible for a reward. Every sale you make earns you 20 points. It’s simple to see why so few individuals, if any, succeed with MLM with this pay model.
MLM participants lose money about 70% to 100% of the time. More information about this industry may be found here.
We couldn’t discover any information on how much money 7K Metals members make, and the firm hasn’t said.
I believe that very few individuals profit from 7K Metals MLM.
Is Seven Thousand Metals a Pyramid Scheme?
7k Metals isn’t strictly a pyramid scheme since members may still profit from precious metals sales.
However, making a decent livelihood this manner is very difficult. Workers who make the greatest money in the firm are also the ones who hire the most people.
As a result, 7k Metals is a “disguised pyramid scam.”
So, what exactly is a pyramid scheme?
Instead of selling items or services, members are compensated for recruiting new members.
Most nations have prohibited pyramid schemes because anybody may profit from them.
7k Metals, like any other MLM, provides legal goods in the form of precious metals.
However, the corporation prioritizes recruitment above revenue.
7k Metals does not allow for retail sales. Customers that are unaffiliated would be perfect for purchasing precious metals. You can’t buy anything unless you’re a member.
Their primary attention does not seem to be on the product.
Here’s a 5-minute video that explains the pyramid scheme idea.
7k Metals is not a pyramid scam as long as their items are acceptable, such as precious metals.
To earn money with 7k Metals, you must sign up new users. The pyramid scheme flags are shown there.
If you still have doubts, we suggest checking out their Better Business Bureau rating.
What are the membership requirements for 7K Metals?
Before you can begin, you must satisfy some conditions.
- You must be of legal age in your country of residence.
- Have legal ability in your native country to join the 7k Agreement
- In the United States, US Territories, and other nations, 7k is now open for business.
- US associates must have valid Social Security numbers and Federal Tax IDs.
- To become an associate outside of the United States, you must produce documentation of residence and tax status in the nation where you live or where you want to enroll.
- A completed 7K Independent Associate Application and Agreement is required for 7K Online.
If you match their standards, a 7K membership gets you access to member direct pricing and collector training.
It’s also the first step toward developing a 7-figure downline and receiving weekly payouts.
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How much does it cost to join 7K Metals MLM?
1. Members
All members must have a basic or premium membership. The following are the prices:
- Annual Basic Membership: $249
- Annual Premium Membership: $449
2. Transportation Card
7k Metals also requires the purchase of a travel savings card. The following are the prices:
- $250 for basic membership
- $500 for Premium Membership
You can always locate the finest travel prices with this application.
What is the 7K Metals Compensation Plan?
7K Metals’ compensation plan is known as a “binary” scheme. You earn money by recruiting new members.
Consider it an upside-down “V” with you at the top. When you join up, you will have members on both sides of you.
At 7k Metals, you get points according on how much you sell:
- Affiliates have the option of signing up new members or paying a $250 yearly fee (100 points).
- Coins are bought and sent automatically (25 points)
- You make money by purchasing coins from affiliates with whom you have joined up.
- You will only get compensated if you sell the least quantity of 7k Metals.
- You have two compensation options depending on the sales of your team.
- If both your left and right sides have 500 points, you get $500 every week.
- You get $1000 every week if they have 1,000 points.
- The next week, everything between 500 and 1,000 is reset.
When you accomplish specific milestones, 7k Metals pays out:
- At least 25 points are required each month.
- In a month, get at least two new members with 25 points.
- Finally, everyone you suggest will get a 5% referral incentive.
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Is Seven Thousand Metals a Scam?
I can’t claim that 7K Metals MLM is a rip-off.
Because you receive something in exchange for the amount you pay, 7k Metals is a real network marketing organization.
Furthermore, I have not noticed any complaints about substandard items on the internet, therefore people assume it is true.
However, the manner in which the items are supplied disturbs me. Since memberships are only accessible to registered individuals, it would have been good to have them give memberships directly to consumers rather than via MLM business models.
Additionally, there is a means for you to earn commissions by bringing in new members who will be able to acquire these precious metals at a ‘discount.’
If you’ve ever worked with an MLM organization and are familiar with precious metals, 7K Metals could be worth a chance.
You should examine the cost of the metals from this firm from a global viewpoint before making a selection.
If the price is right, a membership with 7k Metals can be worth your time, since if precious metals are your thing, this might be just up your alley.
While 7K Metals is not a scam, you should be wary of individual members’ claims and promises.
If anything doesn’t seem correct, consult the 7K Metals paperwork or contact their leadership.
False and deceptive claims about earnings and earnings estimates are expressly forbidden.
Furthermore, 7K has an actual presence that you can visit, adding credibility, and presently has locations in six nations (U.S., Canada, U.K., Australia, New Zealand, and Singapore).
Another sign that it isn’t a fraud is the presence of accessible and well-known proprietors. The great majority of frauds (but not all) are perpetrated by unseen persons. They aren’t always even actual people.
MLM Pros 7K Metals
1. 7k Metals Has A Large Selection Of Precious Metals
The one thing I like about 7k Metals is that they have a wide range of precious metals to choose from, including gold, silver, bronze, copper, and even platinum. They also come in a variety of shapes and sizes, including coins and bars.
If you’re a gold or silver investor, 7k Metals is a good place to start.
2. Precious Metals Can Protect Against Inflation
Every money on the planet today is a “fiat currency.”
If you grasp this, you’ll discover that Gold and Silver are among the strongest asset classes for shielding people against inflation and the present sham economy.
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Cons and Complaints about 7K Metals MLM
1. Precious metals are expensive.
Because of the volatile nature of the market, investing in precious metals is dangerous. However, gold is gold. As a result, if the market falls, you may keep it and sell it later when the market rises.
The difficulty with gold (and other metals) is that it is still quite costly, so if you don’t have a lot of money, you need be cautious not to overdo it.
2. You must pay 7K Metals a subscription fee.
I look at the membership fee first when evaluating an MLM. It’s not fair to pay $249 for membership and an additional $249 for the travel card.
The Premium membership is $499, and the travel card is an additional $499.
$1000 a year?
It simply doesn’t add up, and I’d rather purchase my precious metals from an independent distributor.
3. You Must Join 7 K Metals In Order To Purchase Products
Although their website advertises a guest checkout option, it is little deceptive since you cannot purchase metals as a visitor.
After you’ve determined what you want to buy, you must submit the name of the user who recommended the site to you.
It seems suspicious if you have to pay a large sum of money up front for membership before you can buy anything else.
4. The Auto-Ship Program Must Be Used
Regardless of whether you prefer a specific product, you must sign up for auto-delivery to keep your membership status.
While this may not be a concern if precious metals are in high demand, you’ll almost certainly end up with unsold inventories.
Now you know why the majority of members lose money.
5. The majority of 7K Metals members fail
As is typical of most MLM firms, the great majority of its members (up to 98 percent) resign or fail.
Because 7k Metals is still relatively young, I anticipate its members to leave at some point.
The folks who were there from the beginning earn the greatest money, for the most part.
It might be challenging to succeed in any MLM.
According to several surveys, between 72.5 percent to 99.9% of MLM participants lose money.
Unfortunately, 7k Metals did not furnish us with an income disclosure statement, therefore we have no idea how much money their members make.
It’s most likely because they’re not generating enough money.
6. 7K Metals MLM has a very limited market.
Precious metals markets are limited, if not diminishing, in light of the present situation, as 7K Metals verifies.
Selling gold and silver is tricky. They’re not acquired for the sake of entertainment, but for long-term profit. How can you benefit from market declines?
People may be interested in purchasing gold bars and other precious metals, but will they do so?
I think it’s a little hazardous, particularly if you’ve never traded gold before.
7. Precious Metal Investing Is Dangerous
Precious metal investments come with inherent risks, so they may not be suited for everyone.
Trading in precious metals “may be volatile,” according to 7K Metals, and investing in precious metals “may not be suited for everyone.”
Furthermore, neither the CIPF nor the CDIC guarantee prec