7k Metal Products : What services does the company provide?
7K Metals provides its members with the opportunity to operate their own investment businesses, with reduced precious metal prices and a multi-level opportunity for making money.
The company has been in operation since 2016, and has gained steady traction among network marketing companies.
With significant success in their operations, the company has earned an impressive reputation for delivering quality products and services.
Disclaimer: Many or all of the companies listed here may provide compensation to us. This is how we maintain our free service for consumers. Compensation, along with hours of in-depth editorial research, determines where & how companies appear below.
Evidence suggests that 7K Metals is legitimate and not a scam, as they have consistently delivered on their promises of reduced prices for buying gold bars and other precious metals and providing a multi-level opportunity for making money.
Furthermore, they have not had any reports of fraudulent activities to date, which adds to their credibility.
Our 7k Metals review concludes that overall it is a legitimate company offering its members access to reduced prices for buying precious metals and multiple income opportunities.
Zack Davis , Roger Ball, Josh Anderson & Richard Hansen : Co-founders of 7k Metals
The company was founded in 2016 by Roger Ball, Richard Hansen, Zach Davis and Josh Anderson. All four founders bring a wealth of business experience to the company.
Roger Ball is an experienced entrepreneur and was the founder of Melaleuca.
Richard Hansen has a background in finance and has been involved in numerous successful startups.
Zach Davis and Josh Anderson are the original pioneers of 7K Metals, having been instrumental in the development of the company's membership model.
Their combined business acumen and expertise has enabled 7K Metals to become a leader in the precious metals industry, offering members reduced rates on gold and silver coins, gold bars, and bullion.
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To Purchase Products, You Need To Become A Member Of 7 K Metals,
7K Metals Membership: How to join? What are the benefits?
Becoming a registered member of 7K Metals is easy! All you'll need is to have your own business, hold a valid business license, a sales tax resale certificate, and proof of insurance.
Benefits for Members:
Once a member, one can enjoy the benefits of the 7k Members Share Plan and the 7k Associate Agreement.
With their exclusive basic membership, customers can access the power of precious metals in bullion, popular graded coins, gold bars and more.
7k Metals Offers A Wide Variety Of Precious Metals … the Cost of Precious Metals can often be high!
Members are able to shop for gold, silver, and, other precious metals at the lowest prices on the market. Our review concludes that they are one of the most affordable precious metals companies available to small investors.
In addition, the company offers a recycling program for gold and silver allowing customers to resell their metals for a higher value than they would normally obtain from traditional outlets.
Additionally, 7K Metals has over 500 facilities around the world which make it much easier for customers to source the precious metal products they are looking for.
In total 7k Metals claim they offer over 800,000 ways to save.
Members can take advantage of exclusive discounts on coins, and can benefit from tax deductions on all purchases of precious metals.
Members may even open an IRA account to make the most out of their investments.
Furthermore as an additional benefit, 7K Metals provides members with access to 7K Healthcare, allowing members to access the very best medical care available.
All of these features for members can make 7K Metals a great option for those looking to purchase precious metals.
Is 7k Metals A Pyramid Scheme?
Based on available evidence, 7k Metals does not appear to be a pyramid scheme.
Although their business model requires members to sell memberships, they also trade in real products, such as precious metals and the opportunity to make a monetary profit.
Furthermore, it is not a requirement for members to sell memberships in order to make these trades.
While they are undoubtedly a Multi level Marketing company (MLM), a concept may cause some people to hesitate, there is no evidence of deceptive practices or fraudulent intentions by the company. It appears that 7k Metals is a legitimate business offering its members the opportunity to make a profit through honest efforts.
The MLM Concept is not a Pyramid Scheme?
There is no deception here, 7K Metals openly portrays itself as it is a Multi-Level-Marketing (MLM) company, offering membership packages to individuals interested in purchasing precious metals, coins, bars, and bullion.
The MLM business system employed by 7K Metals does indeed promote the selling membership packages to potential customers and recruiting and training new members to join individual members teams.
They openly point out that by taking advantage of the MLM business system, 7K Metals members are able to generate passive income from the sales of the precious metals they offer and from the commissions earned by recruiting new members.
The MLM Business is Legit? is it Risky?
Multi-level marketing (MLM) is an increasingly popular business model that has been associated with legitimate companies for decades.
While an MLM company can offer potential benefits for both companies and individuals, there are potential risks involved and it is perfectly possible to lose money.
We stress that it is important to do your own research and understand the company’s compensation plan before signing up.
What are the Problems with Multi-Level Marketing? does this apply to 7k Metals?
1. Pyramid Scheme Concerns:
The first and most common problem associated with multi-level marketing is the potential for a company to be a pyramid scheme.
In a pyramid scheme, the company profits by recruiting new members and charging them membership fees, rather than selling products or services.
7K Metals is not a pyramid scheme and does not require members to recruit to make money.
2. High Entry Costs:
Some MLM companies require high entry costs, often in the form of large membership fees or product purchases.
7K Metals has no entry costs; however, they do offer memberships that come with discounts on purchases of silver and gold coins, bars, and bullion.
3. Unsustainable Income:
Multi-level marketing can be difficult to sustain long-term because it relies on recruiting new members in order to generate income.
As with any business venture, it is important for potential 7K Metals investors to develop a solid understanding of the product and market before making any decisions.
4. Misleading Advertising:
MLMs often use exaggerated or false promises of income potential in their advertising campaigns and network marketing, leading some people to believe that they can get rich quickly by joining an MLM program.
7K Metals does not make any false claims about income potential but does place emphasis on the opportunity for investors to diversify their portfolios with precious metals investments.
Most Members of 7K Metals Fail
We believe this is the biggest concern. For many aspiring entrepreneurs, 7K Metals is an attractive opportunity to make money when they sell precious metals.
Unfortunately, the vast majority of members (upwards of 98%) tend to lose money, fail or quit.
This is likely due to the fact that the company is relatively new and the Autosaver facility (see below) may not be suitable for everyone.
Furthermore, it can be quite difficult to succeed in 7K Metals without making pushy direct sales.
In our review we therefore emphasize that 7K Metals is not a pyramid scheme, and cannot be accurately described as solely a network marketing company, as members are able to make money when they trade in precious metals. However, this does not guarantee success as only a small percentage of members actually make a profit.
Additionally, the company does not require members to purchase products in order to make money, though it may be beneficial for them to do so.
In conclusion, while the company is legit and its members honest and ethical, success can be hard to achieve without making pushy sales or investing in products.
The Federal Trade Commission (FTC) warns against becoming involved in pyramid schemes per se, which may masquerade as legitimate MLM opportunities even if they sell real products.
A characteristic of Pyramid schemes is that they focus on recruiting more people rather than selling products or services, which is against the law, 7k Metals is not such a company.
Additionally, the AARP has found that 73% of MLM members lose money and only 3% turn a profit which suggests caution.
To ensure that you are making the best decision for your financial future, it is essential to carefully review all of the information provided by the company before signing up.
7K Metals Compensation Plan : How does it work?
The company's compensation plan is based on the “binary” system, which rewards members for signing up new members.
The way this works is that when you sign up someone new, you earn a commission from their membership fee. Additionally, you can also earn commissions from the purchases of the people you recruit.
The amount you can earn depends on how many people you can sign up and how much they spend on their purchases.
With 7K Metals, there is no limit to what you can earn; the more people you sign up, the more money you can make.
How Do You Get Paid by 7K Metals?
Members can get paid for their efforts in a variety of ways.
Payment options range from cashing out to direct bank transfers and even cryptocurrency transfers.
7K Metals allows customers to select the payment method that best suits their needs. All payments are secure, quick and reliable.
Furthermore, 7K Metals offers a generous rewards program with attractive commission rates, that reward customers for recommending the platform to others as well as for their continued loyalty.
This gives customers the opportunity to earn even more money by simply referring friends and family or by continuing to purchase products from the platform.
7K Metals Reviews and Complaints
Complaints regarding 7K Metals have been minimal and often stem from a lack of understanding of the product offering.
Some have alleged that MLM network marketing companies can be detrimental. However, this needs to be balanced against the underlying benefits, offered by 7K Metals giving access to trading in precious metals like gold and silver, assets with intrinsic value offering unique benefits as investments.
Testimonials and reviews for 7K Metals are generally positive and it is clear that many recognize it as a stand-alone product.
7K Metals Lawsuits and the FTC
The Federal Trade Commission (FTC) is a federal agency of the United States government that enforces consumer protection laws.
Recently, the FTC has been involved in two lawsuits against 7K Metals and its owners.
The first lawsuit was related to allegations of failure to deliver on orders of personal protective equipment. As part of the settlement, 7K Metals and its owners agreed to pay over $2.4 million in refunds to customers.
The second lawsuit was brought by several states including Texas, Georgia, Kentucky, Alabama and Missouri alleging that 7K Metals had broken their laws.
Consumers should be aware that there are some offers out there, related to gold investments that may be scams, so it's important to watch for signs of a fraudulent sales pitch before investing.
Some indicators of potential scams may include promises of guaranteed returns or promises of large profits with minimal risk.
Anyone considering investing in gold in particular should research the offer carefully and make sure it's legitimate before investing.
Customer Testimonials for 7k Metals
John Smith from New York said, “I'm so glad I enrolled in 7K Metals. Not only did I get gold and silver at dealer cost, but the membership and premium membership structure allows me to write them off for tax purposes. It's been a great experience so far!”
Kelly Jones from California shared, “7K Metals has been an amazing investment opportunity for me. Not only do I get to buy gold and silver at wholesale prices, but the company's informative Precious Metals Expert has helped me understand the market better.”
Finally, Sarah Miller from Texas commented, “I just enrolled in 7K Metals last month and I'm already seeing the benefit of investing in precious metals. The multi-level marketing structure helps me get even more out of my investments!”
Products – Benefits Exclusive For Members
7K Metals offers exclusive products to its members, such as bullion, popular graded coins, gold coins, silver coins, platinum, gold, and silver bars.
Members can take advantage of discounted prices when they buy these products in the United States.
In addition, 7K Metals provides members with networking and educational resources, so they can find success in their businesses.
With the wide range of products available through 7K Metals, members can earn a commission on each sale they make. All these products are available at competitive prices and offer great value to members.
7k Metals Travel Card
7k Metals offers a travel savings card for customers interested in saving money on their trips.
The card offers two membership levels: Basic Membership and Premium Membership.
The Basic Membership costs $250, while the Premium Membership costs $500.
Customers who purchase a travel savings card are also eligible to qualify for higher credit limits with almost any credit card.
The 7K Metals AutoSave Program
7K Metals offers an auto-save program which provides discounts on product orders and a multi-level income opportunity for its members.
The program allows members to purchase coins with automatic delivery, which grants them access to further discounts and rewards.
Additionally, members may be able to earn money from the coins purchased from their affiliates.
The AutoSave program delivers a collector's coin each month to its members, providing an additional incentive to join the program.
The program also offers the potential to make money if you have a team of affiliates. The AutoSave coin of the month program is an optional feature that may provide an additional profit opportunity.
Sound Money Wallet
The Sound Money Wallet, operated by 7K Metals, is a digital access point reminiscent of wallet apps used on smartphones.
This wallet enables its members to purchase, store and send gold and silver coins such as American Eagle Coins in a secure manner.
It also allows members to store other forms of money such as cryptocurrency, digital currency or fiat currency.
The Sound Money Wallet ensures safety and security by using various measures such as biometrics, two-factor authentication and encryption.
To use the wallet, members must first link their bank accounts or credit cards and then make the desired transactions.
The fees associated with using this wallet are minimal and there is no limit on how much money can be stored in it.
7K Metals offers a safe and secure way to buy, store and send gold and silver coins while protecting its users' funds at all times.
The Auto-Ship Program Is Mandatory
The 7K Metals an AutoSave program allows members to buy precious metals at wholesale cost and is mandatory for all members and required to retain membership.
Th benefits of the program is that it ensures that members receive the best prices available on the products they purchase at all times.
The 7K Metals AutoSave program also allows members to accumulate points by referring others to join the program.
This feature helps members save money and increase their earnings potential. The points can then be used for discounts on future purchases or redeemed for special rewards.
Furthermore, the 7K Metals AutoSave program does not require exclusivity and allows member's to participate in other direct selling, multi-level marketing, or as a network marketing company opportunities. This gives members more freedom and financial independence when it comes to their investment decisions.
Overall, the 7K Metals AutoSave program is a great option for those looking to buy gold, silver, and other precious metals at wholesale cost while earning rewards and increasing their earning potential.
The mandatory auto-delivery feature ensures that members are always receiving the best prices available on the products they purchase.
Pros and Cons of 7k Metals
Top 5 Pros of 7K Metals
1. Wide Range of Precious Metals:
7K Metals offers a large selection of precious metals, including gold coins, mint silver, and platinum, gold, and silver bars.
2. BBB Member:
7K Metals is a member in good standing with the Better Business Bureau. This provides customers with added assurance that the company is a legitimate business.
3. Low Prices:
7K Metals strives to provide its customers with the best prices on precious metals by purchasing from the world’s leading distribution outlets for the least amount of money possible.
4. Experienced Founders:
7K Metals was founded by experienced entrepreneurs who have found success in the multi-level marketing industry.
5. Investment Options:
7K Metals allows investors to invest their money in precious metals such as gold and silver, providing them with a reliable investment option for their future.
Top 5 Cons of 7K Metals
1. High Risk Investment:
Investing in precious metals is a high risk venture and there is no guarantee that an investor will make a return on their investment.
2. Not Regulated by Financial Authorities:
Since 7K Metals is not regulated by financial authorities, it could be prone to fraud or other unscrupulous activities that could put customers at risk.
3. Limited Knowledge Base:
Due to individuals limited knowledge of the precious metals market, some customers may find it difficult to understand the risks involved with investing in precious metals through 7K Metals.
4. Multi-Level Marketing Structure:
The multi-level marketing structure of 7K Metals could be considered risky for some investors who may not be familiar with this type of business model.
5. Market Volatility:
The volatility of precious metals markets can put investors at risk as prices can fluctuate quickly and without warning. This could lead to losses for those who invest in this sector through 7K Metals.
Should you join 7k Metals?
Joining 7K Metals is a personal decision that should be weighed carefully.
While the company is legitimate and members can earn money when they sell precious metals, it can be difficult to make money without having team members working underneath them.
Additionally, sales tactics may be pushy and the prices of metals are stable but not necessarily the most competitive.
Ultimately, it is up to each individual to decide if joining 7K Metals is right for them.
Further Considerations for potential investors in 7k Metals:
Very Limited Market For 7K Metals MLM
7K Metals is a multi-level marketing company with generally speaking a good reputation, but its market is relatively small compared to other MLM companies for instance those that deal with wellness and beauty products.
This limited market, combined with the restriction of points for each 7K Metals product sold, can limit an investor's comparative earning potential.
The success of the company will also depend on its ability to attract new customers, maintain a loyal customer base, and provide quality products.
It Is More Difficult To Market Precious Metals To Younger Buyers
Marketing precious metals to younger buyers can be more difficult than targeting seasoned investors.
This is due to the volatility of equity markets and the fact that some of the world's most important precious metals are relatively inexpensive compared with their historical prices.
Central bank purchases of gold are on the rise, as people look for a safe haven in times of market turmoil, but this trend doesn't always extend to younger buyers.
Industrial demand accounts for over 60% of physical consumption and silver is technically an industrial metal.
Generally speaking young people tend to focus more on equity markets than on precious metals. As such, it may be more difficult to market precious metals to younger buyers who may not understand the long-term benefits of investing in these commodities.
The Best Alternative of 7K Metals MLM To Make Passive Income Online
An increasingly popular alternative to 7K Metals MLM for making passive income online is affiliate marketing.
Affiliate marketing involves promoting products or services from other companies and earning a commission when a sale is made.
This can be done through various types of online platforms, such as blogs, websites, and social media.
The best thing about affiliate marketing is that it is easy to get started and requires minimal upfront investment.
Additionally, with the right guidance and tools, one can potentially earn a lot more than what 7K Metals MLM offers.
7K Metals MLM Review: Final Verdict
7K Metals is an MLM that focuses on the sale of precious metals products. It has been in business since 2016 and has grown in popularity over the years.
On the one hand, 7K Metals offers a wide range of products and services, including gold or silver coins, bars, and jewelry.
Additionally, they offer a rewards program for their customers, which could be seen as a major advantage for those looking to get involved with an MLM.
On the other hand, 7K Metals has been (falsely) accused of being a pyramid scheme by some people. They also have high entry membership fees and premium membership which can be a turn-off for some potential customers.
Furthermore, there are other competing MLMs that offer earning income opportunities that should be evaluated as potential opportunities.
In conclusion, 7K Metals is neither a scam, it has both advantages and disadvantages when compared to other MLMs and affiliate marketing programs.
Potential customers should do their own research to determine if it is the right fit for them.
Alternatives to 7K Metals include companies like Ambit Energy, eXp Realty, and World Ventures but there will be many others.
