Someone most likely told you about 7k Metals and convinced you that it’s a great way to earn money.
That sure sounds interesting. But you might have some doubts about it and thought… is 7k Metals a scam? Or is 7k Metals a pyramid scheme?
Before we continue, I’d like to congratulate you for spending some time doing research on MLM companies such as this.
You’ve done a good job because 99% of MLM members don’t make money, and worse — lose money.
Why? Because they immediately join without knowing the real deal...
This accurate and clear review will open your mind and help you decide if 7k Metals is really a legit opportunity to work from home and if it’s really worth trying.
7k Metals Review
The overview and rankings
Name: 7k Metals
Founders: Zack Davis, Josh Anderson, Richard Hansen, Roger Ball
Type: Precious Metal Investment
Products (Including Pricing): 40/100
Success Stories: 20/100
Price To Join MLM: $499
What to look for in a MLM:
7k Metals Pros
7k Metals Cons
7k Metals is an MLM company founded in 2016 that offers memberships and sells precious metals, which they say, is the lowest price in the market. But is it really? Find out in this review...
Make Time Online Rating: 30 out of 100
What is 7k Metals
7k Metals is a Multi-Level-Marketing organization that allows investors to invest in gold and silver. The company's founders have accomplished businesspeople, but most investors have yet to make a profit or even break.
To make money with precious metals, paying a membership fee to a corporation such as 7k Metals is optional.
The following statistics pertain to the company supplying free silver:
- Over a thousand 5-star evaluations from previous clients
- Protects over $1 billion in retirement savings assets
- A rating of AAA from the BCA
- A+ Rating from the Better Business Bureau
- Five-time winner
- 2021's business of the year
7k Metals is one company that boldly claims to provide you with a money-making opportunity and investment strategy to begin constructing your independent future.
If creating money and building a business were as simple as 7k Metals claims, many more people would do it. Yet, this does not necessarily indicate that 7k Metals is a hoax.
Here's a quick look at their website...
As you can see, they're promoting their MLM as a way for you to gain financial liberty. But is it really the case?
Before we dwell on that, you might be wondering...
Is 7k Metals a pyramid scheme?
Technically speaking, 7k Metals is not a pyramid scheme because members can still make money if they sell precious metals.
But it’s very hard to make good money this way. The people that earn the most money in the company have recruited a lot of people.
This makes 7k Metals very similar to a “pyramid scheme in disguise.”
What is a pyramid scheme?
A company which promises payment to members for recruiting people into the company instead of selling the company’s products or services.
Most countries ban pyramid schemes because everyone can’t earn money with this business structure.
Here’s a Wikipedia diagram to see why...
7k Metals offers legit products in the form of precious metals, which is common for any MLM.
However, the company focuses more on recruitment instead of sales.
It’s the only way to earn a “residual income.” And a company that compels you to recruit to avoid losing money is a “pyramid scheme in disguise.”
Here’s a 5-minute video to see what I mean...
Success is rare with 7k Metals
It’s actually hard to find success in any MLM.
In fact, numerous researches prove that between 72.5% and 99.9% of all MLM members lose money.
Unfortunately, 7k Metals didn’t release any income disclosure statement for us to see if their members are really earning.
It’s most likely that it’s because they aren’t making good money…
Ready to make passive income online?
Hey, I'm Mike.
I created a passive income online within a year. I had no marketing skills or online experience when I started.
How does 7k Metals Work?
7k Metals sells precious metals such as gold, silver, bronze, and copper in coin and bar form.
If you're only interested in 7k Metals as a gold investor, you've come to the wrong firm. Your finest and safest option is to purchase coins and bars of precious metals from American Hartford Gold. In addition to being a respectable and trustworthy provider, they also offer excellent discounts and an outstanding repurchase program. You can examine them here:
Every purchase must be made under a "referrer" or someone who works within 7k's MLM.
If you've found a person to suggest you, you can make a minimum annual investment of $250, which requires an upfront payment of $75, similar to Oxford.
If you intend to make money with their MLM organization, you must imitate those who introduced you.
By recruiting people, you will earn money through a binary system that requires a person on each side of the team, commonly known as a "pyramid scam."
After the personnel is in place, you can earn money, just like with other organizations, such as Lear Capital.
You are awarded points when new referrals join your team, or a qualifying purchase is completed.
When each team reaches 500 points, you receive payment.
Due to the prevalence of this design among MLM firms, it is essential to understand that to make money, you must recruit as many team members as possible and continue to do so, which is not always easy.
But instead of the company spending loads of money on advertising and marketing, they just get everyday people to sell their products and at the same time recruit people into the business.
These members then get paid for working at home or as their sideline.
Sounds like a win-win at first glance.
But is it?
7k Metals products
If you’d really like to join an MLM, then you need to know more about the products they offer.
Here are some of 7k Metals’ most popular products:
- American Gold Buffalo 1 oz. coin ($1,845)
- Pamp 5 oz. gold bar ($8,800)
- Royal Canadian Mint 100 oz. silver bar ($2,000)
Here are more best-sellers from them...
It's important to be aware that there are tons of other companies that offer a similar range of metals such as goldsilver.com.
There are also dozens of MLMs that offer a similar thing such as:
- Team National
- Legal Shield
- Fluorescent Sand
- Cowboy Wealth
- Global Dream Network
- United Success Network
They all claim to have some special reason they stand out such as the best value or compensation plan. But in reality, they are all offering a very similar opportunity.
Can you make money with 7k Metals?
Very few people earn a full time income from any MLM. 7K metals is no different. There are very few people who are even interested in buying precious metals in comparison to products from other health and wellness MLM businesses.
So what do the people do that make good money?...
Typically, extroverted "sales managers" are the very few who actually make money. They do this by selling the dream of “becoming your own boss”.
Here’s what to expect if you actually want to be a 7k Metals member:
- Share as many promotional posts you can about 7k Metals in social media.
- Mention your “road-to-riches” business to anyone you meet.
- Have a Skype or Zoom call and sell the dream of “becoming your own boss.”
- Recruit as many people as you can.
- Skype or Zoom call your so-called “team” daily and encourage them to work harder in selling and recruiting for them to earn more. When in fact, it’s also you who earn more.
If that sounds like fun to you then maybe you can make some decent money!...
How to make money with 7k Metals
There are 2 ways you can make money once you join 7k Metals:
- Sell 7k's precious metals
- Recruit people (and earn commissions from their sales)
Members don’t get paid directly for recruiting, but instead, receive bonuses from their sales and recruited members. This is common for MLMs and it’s the main reason why they’re still operating.
How much does it cost to join 7k Metals?
You have two membership options to choose from:
7k Basic Membership – $249
Pay $249 annually for a 7k basic membership. This gives you access to their precious metals which you can buy at wholesale cost.
7k Premium Membership – $499
Pay $499 annually for a 7k Premium membership. You gain access to their precious metals at wholesale price and get 1 Silver Eagle Coin, 1 Medallion, 1 World Coin, 1 Silver Round Coin, and an annual Business Builder credit as inclusions.
Premium members are the only ones who can enter the MLM program.
Travel Savings card
Aside from the membership, you also need to pay for a Travel Savings card.
Pay an additional $250 annually if you’re a basic member, or $500 annually for a premium member.
This card lets you find the best travel deals monthly. It also enables you to set up your own AutoSaver Coin subscription.
7k Metals compensation plan
What MLMs usually do is they make their compensation plan complicated and hard to understand. 7k Metals is no different!
But no need to worry because I’ll do my best to keep it simple.
There are 2 ways 7k Metals will pay you...
Memberships & Renewals
Earn 100 points for every new member you recruit into the company.
Coin PointsSell 1 coin and earn 20 points. The value of a point depends on your rank, with the lowest being Associate and the highest being Gold.
Confusing, right? Well, that’s normal for MLM because they use fancy terms to make their memberships more attractive.
When in fact, those terms are just:
- Selling precious metals
- Recruiting people into 7k Metals.
You can check out the 3-minute video below to know more about their compensation plan...
You can find the 7K Metals compensation plan here.
Is 7k Metals a scam?
Nope, 7k Metals isn’t a scam.
They sell legit precious metals and pay you with the exact figures they say.
The thing is… too many people join the company without knowing how they can really make money.
Good thing you’re here because the rest of this 7k Metals review will show the hidden truths for you to make an informed decision if this precious metal investment MLM is for you or not...
Just to be fully transparent with you, I am not a distributor myself and I do not endorse 7k metals in any way.
I have researched the website, testimonials and information on the Internet to get to the bottom of what this program genuinely does. This is because I have been burnt from programs just like this in the past and I want to prevent others from making the same mistakes. If you’d like to learn how to “Spot an Online Marketing Scam” then click the highlighted text.
Common positive reviews
Here are some of the positive reviews we had from Trust Pilot about the job opportunity...
- "The business model is so very simple and real everyday people are actually earning a worthwhile income."
- "The great thing about 7k is that they have coins that only members can access and some of these are very low mintage. You can also buy bullion at wholesale prices when the market is open."
Common negative reviews
And here are the common negative reviews...
- "Nothing about 7K metals is designed to convert traffic. Which means you will struggle to make sales even if you're generating tons and tons of traffic and leads."
- "There is zero real marketing training there is zero ability for you to duplicate this program because it does not convert it is simply overhyped and once everyone in the precious metal industry hears about it no one else is gonna join."
What I like about 7k Metals
#1 Wide selection of precious metals
The only thing I like about 7k Metals is they offer a wide selection of precious metals such as gold, silver, bronze, copper, and even platinum. And they come in different forms such as coins and bars!
Here's a quick look on some of their offerings...
If you’re an avid gold or silver investor, then 7k Metals would be nice for you.
#2 Precious metals are a hedge against inflation
I've personally learnt a lot about the monetary system over the past few years. The world is currently on an experiment with every currency being a "fiat currency" (not backed to anything).
I highly recommend that you watch this video (and the whole series) to understand more about the current system...
Once you understand this you can see that Gold and Silver are some of the best asset classes to protect people from inflation and the current crazy system!
What I don't like about 7k Metals
The number of disadvantages outweigh 7k Metals one single advantage...
#1 Expensive subscription
The first thing I look at when reviewing an MLM is the subscription price. Paying $249 yearly for the membership plus another $249 for the travel card isn’t just right.
What's more for the Premium membership which costs $499 and an additional $499 for the travel card.
$1,000 annually? For what? Membership?
It really doesn't make any sense and I'd rather just buy my precious metals from an independent distributor...
#2 Products exclusive for members
You can only buy precious metals from 7k Metals if you’re a member, which also means that you need to pay $500 or $1,000 for membership before you can actually buy anything from them.
As you can see, you need to be invited by a member for you to join the MLM. In short, not anyone can join...
#3 Very limited market
The market for precious metals is very small and limited.
In fact, 7k Metals confirmed this!
Here’s what I found in one of their videos...
It just isn’t easy to sell gold, silver, and those other precious metals. You don’t just buy them for the sake of buying, but to make a profit out of them.
But how can you make any profit if there’s not many people who are into these?
#4 Affordable products sold out
Right now, silver costs $17.38 per ounce...
I got pretty excited when I saw that you can buy a silver ounce for under $14...
But then I realised it was "sold out"... and every other silver coin is crazy expensive because it's a "limited edition". Here's the truth... if you are buying gold and silver as a hedge against inflation or for any kind of investment there's only one thing that matters...
Get the best price available compared to the spot price. Limited editions do not make any difference when you come to sell your metal for their weight and content.
#5 Is 7k Metals a pyramid scheme in disguise?
The only way you can avoid losing money from this MLM is by recruiting people and passing the “burden” to them.
In order for you to stay active, you need to keep paying the annual $499 membership fee plus the other $499 travel card, while also continuously recruiting people!
Here's what their business process looks like...
The only reason you'd consider joining this is for the "business opportunity". But unfortunately the only opportunity that really exists is recruiting people.
And a company always looks like that diagram above when that is the focus.
Ready to make passive income online?
I've created a growing passive income online with no previous marketing skills or online experience...
I've made a special video for you to explain exactly how I did this.
My opinion - 7k Metals
I can say that 7k Metals is a legit MLM company.
But what do I think about the business opportunity?
Selling precious metals is a tough task even for businesses that do this all the time. People will very rarely want to do this through some person they met on Facebook.
The focus is still really on recruiting more people into the MLM, which always ends up with most people losing money.
If you'd like to earn a real passive and sustainable income, then I suggest you continue reading below...
How I make passive income online
MLMs are not scams or illegal. However, I'm not a fan of them because of the restrictions to the expensive products you have to promote.
Once I learnt about affiliate marketing, I realised it's a far superior business model because:
- You can promote anything you want and truly own the business
- You never need to sell to friends and family
- It's completely free to start
In 2018 I had no idea what affiliate marketing was.
But I went from a full time PE teacher to making a passive income online within one year...
If you want to discover how I did it then check out this special video I created which explains exactly how. You can also get your free 7-day bootcamp to get started.
Hello, I enjoy a lot while reading your review on 7K metals and find it very useful for everyone. I know that success rate in any MLM business is very little and online very few people become successful. 7K Metals plans are very costly according. I like your alternative method to make money online. I will build my business via wealthy affiliate. Thanks for shairng.
Glad it helped Prithvi
Thank you for posting such a well-researched article on this MLM. I must admit that I never had an idea about this company and how it conducts its business. But from what you have explained, I am now well-informed that I can be able to make a sound decision on whether to join this company or not. I like the way you indicated the pros and cons as well as the risks involved in this business model. I also now have an idea of what a pyramid scheme is and an MLM as well, which was not clear to me before. I appreciate the work you are doing in providing this much-needed info to society as it helps them make informed decisions when it comes to MLM business models.
It is clear to me that this business model thrives on people who are not well-informed. My question now is, why would businesses like these ones continue to thrive? Why are they allowed to operate when it is clear that people will lose money in the process? What can be done to make sure that these companies offer mutual benefits to their members?
Great questions and I think all MLMs that do well have done a lot of hard work in the early days. If they can get some really good sales managers and the types of people that are good at “selling the dream” they can often grow exponentially. The products/ services are not so important at the start. But the ones that last decades always have long term proven products that people use (typically health and wellness/ skincare types)
They are not set up to make people lose money, it’s just the nature of what happens when a company is focused on recruiting rather than selling products.
If you can find a MLM that has affordable products and doesn’t have a “sales quota” to remain active each month then real people may actually buy the products anyway. These companies can focus on selling the products and anyone that joins is purely doing so to benefit from the products, not trying to recruit other people.
Thanks for your questions and I hope that helps
Hello there thanks for the review on this MLM company. I have probably heard some nice stories on this company but judging from your review I think it all contradicts all I heard. I must say it is really difficult making money from this platform because you have to get customers to by their products and also their startup fee is way too high for that kind of stress
I hope it helps!
Comments are closed.