Is 7k Metals Legit? [Unbiased Review]

7K Metals is an online program that focuses on getting you to sign up for a membership that allows you to make money by selling precious metals. People who have joined it and earned money off of it sell it to new members to get them to sign up for it and form their downline.

Some people who have encountered it have labeled it a pyramid scheme because they think that it works like one. But if you look closely, its business model looks more like a Multi Level Marketing scheme where the average person can make money.

In this 7K Metals review, we will be taking a closer look at 7K Metals to give you all the information you need to know about the program if you are considering signing up for this Multi Level Marketer gig.

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Table of Contents

What is 7K Metals?

7k Metals is Multi-Level-Marketing company that was established in 2016 by a group of people from Idaho.

They decided to base their business on the network marketing company model where they’d sell membership packages to people who were in the market for precious metals like silver and gold. They would sell these metals in the form of coins, bars, and bullion.

Prospecting is a popular form of investment as we’ve seen from analysts like Jim Rickards and Michael Robinson.

The founders of 7K Metals claim that the mission of the company is to make people’s lives better all over the world. To achieve that, 7K Metals wanted to give people the tools they would require to generate wealth and attain financial freedom by selling gold, silver and other precious metals.

The company was founded by four guys, namely Zach Davis, Richard Hansen, Roger Ball, and Josh Anderson.

They set out to provide members with inexpensive precious metals by selling them at a lower cost.

How do they pull this off? By buying gold, silver, and other precious metals from the world’s leading distributors at a low price.

Who are behind 7K Metals?

Let’s take a closer look at the four guys who run 7k Metals:

Zack Davis

Among the founders of 7K Metals, Davis is the most experienced in everything to do with MLM companies. He first encountered network marketing when he was still in college and has since been heavily involved.

He believes that he has helped many people reach their goals. He, and another co-founder (Anderson), also operate another MLM company called Black Ink International that they started in 2011.

Josh Anderson

Josh Anderson was exposed to the whole network marketing concept at the age of 21. He helped build a team of over 18,000 people in his first year in the MLM niche and another team of 9,000 people in just 4 months with a second mlm company.

Following this success, he was made the CEO of the company. He grew it to more than 26,000 members.

He was working with Zach Davis when they established JD Premium. He was its CEO from 2009-2011, while Davis was CMO. They distributed personal care and nutrition products.

Roger Ball

Rodger is an entrepreneur. He owned JD Premium, a business he closed in 2015. He was also involved with a company called Paycation in 2012.

Richard Hansen

Richard Hansen is widely considered to be a network marketing veteran. He has been involved with this industry for over three decades.

On top of that, he knows his way around the precious metals market and has experience collecting and mining them.

7K Metals Membership Fees

There are two ways you can pay for your membership to the company

As Members

When you are a member, you can either pay for the basic or the premium membership. Here is the pricing:

Basic Membership: $249 / year
Premium Membership: $449 / year

Using Travel Card

You can buy a travel savings card from 7k Metals. Here is the pricing:

Basic Membership: $250
Premium Membership: $500

You can get the best travel deals each month.

Which Precious Metals does 7K Metals Sell?

7k Metals sells gold coins, mint silver, and platinum, gold and silver bars. They also sell jewelry.

Here is a quick breakdown of how much they sell them for:

Silver coins – $19-226
Gold coins – $162-1,945
Silver bars – $18.88/oz
Gold bars – $155/oz
Platinum bars – $966/oz

7k Metals also sells jewelry and they have a wide variety for you to choose from.

The company has a partnership with a top private safe company that allows you to store your precious metals and jewelry safely.

You can shop on the 7k Metals website for select products at the member’s price. But to qualify for some of the offers, you must be living in the United States and have a membership plan.

7K Metals has a presence in other countries where it also sells its products (or ships to those countries at the very least). As of writing this, it is present in the UK, Singapore, Ireland, Canada, Australia, and New Zealand.

Some of the products available in the US are not available in the other countries.

The 7K Metals Compensation Plan

7k Metals uses a “binary” compensation plan. This plan is commonly used by MLM businesses to compensate their associates and it is favored in cases where teamwork is valued.

You earn money when you bring in new members. There will only be two people directly beneath you and every member you sign up will either be on the right side or on the left.

7k Metals has a point system that keeps track of how much you’ve sold. Here is how it works:

You earn 100 points when you either sign up new members to cover your $250 annual fee or pay it yourself.

If you purchase coins with automatic delivery, you earn 25 points. You can earn money from the coins sold by the affiliates you recruited.

As with any binary compensation plan, 7k Metals only pays you on the side (of the binary tree) that has the least amount of sales.

There are 2 commission plans that are based on team sales: You will earn $500/week if your left and right sides have 500 points or $1000/week if they have 1,000 points.

If the score is anywhere between 500-1,000, that gets reset on the following week

The Compensation Plan stipulates that you only have one week to collect over 1,000 points, or you start over.

To get paid, you have to meet certain requirements that are spelt out by 7K Metals:

You have to get at least 25 points per month.
You can recruit at least 2 new members who have 25 points in a month

You receive a matching bonus of 5% for anyone you sign up.

Can You Make Money With 7K Metals?

As we have established, they pay you based on the point system. You score points for every 7k Metals product you sell as well as what other marketers in your team sell.

While this sounds straightforward on paper, it is not easy if you lack the sales experience.

For example, for every sale, you earn 20 points. You need at least 500 points to get a payout, which translates to around 25 sales.

I couldn’t find any meaningful statistics on whether 7K Metals has made people money but you can tell that some people within the company do, otherwise it wouldn’t exist.

With that kind of compensation plan, you can see why few people succeed. According to some estimates, within the MLM industry, 70-100% of the people who join these programs lose money (these statistics are just a general representation and are by no means specific to 7K Metals).

However, as we’ve seen with other MLM companies, there are those who thrive, particularly if they are skillful at marketing the products and building and nurturing sales teams.

Pros

There are a few things to like about the 7K Metals business:

7k Metals is transparent about its business model

Unlike many MLM businesses I have encountered in the past, they are quite open about how they run their company. This allows you to make an informed choice as to whether you should join their business or not.

Members can buy precious metals on the cheap

If you want to buy gold, silver, or other precious metals that they offer, you will get a better deal if you buy from them as a member than you would outside. They claim that they can do it because they eliminate the middlemen. However, this only applies to members (who will have already paid a subscription fee).

They have capable leadership

The company is led by a group of experienced marketers who also know the precious metals market well.

They have a feature called Sound Money wallet

The Sound Money Wallet lets you send and receive precious metals and money and it is backed by gold and silver.

They have a Private Vault

After buying silver and gold, 7K Metals gives you the option of putting it in a private vault space that keeps it safe for you at a very low discounted rate.

Cons

There are a few things that 7K Metals has to work on:

The Market is Volatile

Although precious metals are a store of value, the market is quite volatile and unpredictable. Therefore, invest at your own risk.

The silver lining is that since a metal like gold is a store of value, you can hold on to it and wait for the market to go up to sell.

High startup cost

Gold (and every other precious metal) is expensive. Therefore, you need to have a large amount of money to get started.

You Have To Be A Member To Buy Products

To purchase anything from the website, you have to be a member or be referred by a member. They do not allow outsiders to just buy products as a “guest”. Considering how high the membership fee is, it discourages people from buying their products.

Maintaining your membership is expensive

In addition to paying the regular fees, you have to sign up for auto-delivery just to maintain the member status (whether you like the products or not). This can be a problem if the inventory you have winds up not selling well. It also explains why some members lose money.

You Probably Won’t Make Money

Statistically, people who sign up for MLM companies, end up failing to meet their expectations if not downright lose money.

The failure rate is quite high within this business and I don’t think 7K Metals is an exception (although it is still relatively new). People who join these programs at the beginning make the most money. This also happens to the older businesses like Cutco and Farmasi.

The focus is on recruiting new members instead of selling

MLM schemes mainly focus on recruitment rather than selling and this is to the detriment of their bottom line. This affects the sales that members can make.

The Market is Limited

The market is relatively small (compared to other MLM companies that sell wellness and beauty products) which limits your earning potential. People who buy gold and silver do it so they can hold on for long term profit. You will have a hard time convincing people to buy.

Is 7K Metals A Pyramid Scheme?

While the company is seen by some as a pyramid scheme, I do NOT think it is one.

Most detractors point to the fact that you cannot sell retail through 7k Metals like you do with other businesses because it is set up in a way that you cannot get unaffiliated customers to buy the precious metals unless they sign up as members or are referred by one.

The focus is on signing up new members, a practice commonly associated with a pyramid scheme. Such companies persuade you to buy into the program to make money, not so much to sell its products.

However, 7k Metals has a variety of decent products, including precious metals and jewelry, which means that it is technically not a pyramid scheme. It does not fit the definition.

If you are still unsure about it, you should check its Better Business Bureau rating.

Is 7K Metals Legit?

7K Metals is a legit network marketing company.

It sells actual products to customers and members can make money if they hit their sales targets. Therefore, you may earn a return on your initial investment if you sign up for it.

The company sells legitimate products and you will rarely find anyone complaining about the quality of those products. The company is open about the way it does its business and the leadership team comprises people who know the industry well.

Although the products are good and they do direct pricing, the distribution method is what many people complain about because it’s only open to enrolled members. It would be nice if they would sell to people directly instead of through the MLM business model.

To be fair, the MLM model gives people an avenue to earn commissions by recruiting new members into the company so they can buy precious metals at a ‘discount’ and it is perfectly legal (Note that a pyramid scheme is the illegal model while the network marketing scheme is legal).

If you are not comfortable with MLM business models and you are not familiar with the products they offer, you shouldn’t get involved with 7K Metals.

Having said that, if you have previous experience with MLM companies and you know your way around the world of precious metals, it can be a great opportunity to make money. However, before you sign up for it, you should do your research on the cost of the metals they sell from a worldwide perspective.

If you think the price is fair, then getting involved with 7k Metals might be worth your time.

Who should join 7K Metals?

For starters, 7k Metals is a network marketing company. Therefore, you must be comfortable with that before you even investigate further because if you know anything about multi-level marketing companies, they are not for everyone (in the same way that not everyone can start their own business).

Second, if you like the idea of buying precious metals like silver and gold, that is also a sign that you may be suited to the company. You can also purchase gold or silver for yourself.

However, if you don’t like MLM businesses and have no interest in precious metals, then you should stay away from 7k Metals.

But even that is not enough because you require a certain amount of money to productively invest in precious metals.

If you can’t raise enough money, buying these products may not be in your best interest.

Final Thoughts

7k Metal looks like a decent company with good quality products and a capable management. But, it is still an MLM company and such opportunities are not for everyone.

Can you achieve financial security with it? It depends on your business acumen and marketing skills.

To be successful, you must be comfortable with the idea of talking your friends and family into either buying silver and gold from you and recruiting them. They may fail and blame you for cheating them out of $250 or $500, which will make for awkward holidays and family reunions.

Another problem with 7K Metals is lack of scalability.

The precious metals market is not that expansive and that will limit your earning potential.

There’s also not that much time in a day and there aren’t that many people you can reach to sell by yourself.

That’s why these companies often encourage you to recruit for your downline to leverage team effort because you can’t earn a decent return as a one man/woman show.

If all this sounds like something that you’d be interested in, feel free to pursue it.

I hope this 7k Metals review is insightful and informative and that you’ve learned enough about the company to make an informed decision.

Before you leave

If you’re tired of scams and want a real solution for making money online check out my no.1 recommendation.

It’s helped me earn over $300,000 in the last 12 months alone:

Go here to see my no.1 recommendation for making money online

(This is a 100% free training)

Ps. If it’s investments you’re interested in check out my top 5 Jeff Brown predictions for 2022.

David Fortune

David Fortune has been the editor NoBSIMReviews.com since 2019. He is an expert at writing content on stock advisory services, side hustles, reviewing online business opportunities and many more topics. You can learn more about David on our about us page.

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