Hello! Welcome to my "Is 7k Metals A Pyramid Scheme?" review!
If you just found out that there is a precious metals company that is offering you gold and silver, and at the same time, an opportunity to earn money with them, of course, you will be intrigued.
That is what 7k Metals is all about. However, is it actually legit? Or is 7k Metals a pyramid scheme? This review will actually shock you with the answers that I found! Read on to find out!
7k Metals Review Quick Summary
Name: 7k Metals
Founders: Roger Ball, Josh Anderson, Richard Hansen and Zack Davis
Price: $499 to join the program
What is 7k Metals?
7k Metals is a multi-level marketing company in the precious metals investment industry. According to them, they offer the best precious metals in the market at the most affordable prices.
It was created in 2016 by a group of people in the town of Idaho. Since then, 7k Metals has been providing its services to people, helping them achieve financial freedom through precious metals investment. At least, that's what they claim.
What are the things that 7k metals specifically offers? Here they are.
7k Metals Products and Services
- 7k selected - there are precious metals that are best sellers in 7k metals. Moreover, their values are expected to increase the more you hold on to them.
- Jewelry - 7k Metals also have jewelry, both gold, and silver, that they offer. These include rings and watches.
- Dealer Direct - if you are a 7k Metals member, you will have access to purchase precious metals that other dealers offer. However, you can get them at larger volumes at just cheaper prices in 7k Metals.
- 7k Gear - there are also accessories that 7k Metals offer. These are clothes, wallets, backpacks and many more.
Apart from these products, 7k Metals has a membership or subscription plan for its clients. Purchasing it will grant you with benefits such as discounted prices and a way to earn money with 7k metals. You shall learn about this later on.
How does 7k Metals work?
Since 7k Metals is an MLM company, it works pretty much similar to the other MLM companies out there. Basically, 7k Metals will provide you with products such as gold and silver. These are good for alternate investments.
However, another thing is that 7k Metals has an opportunity for its clients; a chance to earn money through its MLM program. You simply sell 7k Metals products or recruit people to become a part of the MLM program.
If you look at it properly, it is a win-win situation since 7k Metals will make sales through its clients who are members. And at the same time, these members get to be compensated and earn money.
Can you make money with 7k Metals?
If you want to become a 7k Metals member, of course you can earn money with them. However, knowing that it follows the MLM business model, I am sure that the potential income is very low.
In fact, almost every MLM companies are not a good source of decent income. Unless you are confident with your selling and recruiting skills, then you will not be making enough money in 7k Metals or any MLM company.
How can you make money with 7k Metals?
If you are really still interested in making money with 7k Metals, there are 2 main ways for you to do it.
- Sell 7k Metals products
- Recruit people to be members of 7k Metals
However, you should take note that you will not be compensated just for recruiting people. Your commission will be from the sales that your recruits make.
How to get started with 7k Metals?
To get started, you need to pay for two things: membership and the travel savings card. For the membership, you have two options.
- Basic membership ($249 per year) - this membership will grant you access to the wholesale program. Meaning, you can buy their precious metals
- Premium membership ($449 per year) - buying this membership will also grant you access to the wholesale program but there are additional benefits. You will receive one piece of each of the following: Silver Eagle Coin, Medallion, World Coin, Silver Round Coin. Moreover, you will get an annual business builder credit. Lastly, this membership will make you eligible to earn commissions from selling and recruiting people.
- Travel Savings Card - After choosing and purchasing a membership plan, you will be required to also pay for the travel savings card. If you are a basic member, you need to pay $250 yearly, while premium members will be paying $500 annually. Having this will give you the best travel deals and will also let you set up your AutoSaver coin subscription.
7k Metals Compensation Plan
Now, let's discuss the 7k Metals compensation plan. To be honest, most MLMs tend to make it very complicated for their clients to understand their compensation plans. So let me simplify it for you.
Basically, there are 2 ways for you to receive compensation.
- Membership and renewals - Every time you recruit someone into the program, you will receive 100 points.
- Coin Points - For every 1 coin you sell, you will receive 20 points. The value of these points will depend on your rank. The lowest is Associate, while Gold is the highest. You can see below the benefits.
If you still don't understand it, don't worry. Just remember that there are two ways to earn money: sell 7k Metals products and recruiting people.
Is 7k Metals a pyramid scheme? Is it a scam?
First and foremost, 7k Metals is not a scam. It does provide legit products and services. Moreover, you will be paid exactly as its promised.
However, this does not mean that it is the perfect opportunity for you. As you can see, knowing that it is an MLM, it can be difficult to actually have a decent income. Most MLM representatives lose money instead of earning.
Is 7k Metals a pyramid scheme?
Usually, people mistaken MLMs for pyramid schemes. Well, there is a huge difference between the two. People can earn money by selling and recruiting in MLMs.
In pyramid schemes, the only way to be compensated is by recruiting, which is actually illegal and unsustainable. In fact, it is very difficult to earn in pyramid schemes and are often labeled as scams. One example is EmGoldex.
However, 7k Metals is technically not a pyramid scheme since it does offer products and you can get compensated just by selling. But, there are chances of it being a pyramid scheme in disguise. This is because of the expensive expenses you have to pay for, while having a difficult time to cover them up. The only way to have a decent income is by recruiting people! Then, you will basically "pass the burden" to your recruits.
With that, I would not recommend you to fully rely on 7k Metals for a source of income. Yes, the promises and the claims are good. But, you might have lost too much by the time you realize it.
7k Metals Pros and Cons
- Offer precious metals
- Basic members can buy precious metals at wholesale prices
- The subscription fees are expensive
- Low income potential
- Recruitment is emphasized
- Precious metals are limited
- Pyramid scheme in disguise
Let's conclude this 7k Metals review with my final verdict. I like the part wherein basic members get to purchase precious metals at lower costs. However, since it is an MLM, I do not recommend it. I do not hate MLMs personally.
But knowing how they work and all of there huge promises while failing to meet them, you will have better alternatives. If you wish to make money online, then this one is a lot better and safer. On the other hand, if you are looking to invest in precious metals, then you should process with the industry's top recommended precious metals dealer, Goldco.
Thank you so much for reading my "Is 7k Metals A Pyramid Scheme?" review! If you have any comments or questions, feel free to leave them in the comments section below!