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It’s not easy to find trusted income and investment opportunities.
There is a good chance that you heard about 7K Metals.
Companies like 7K Metals claim to provide money-making opportunities that can one day eliminate frustrating commutes, unfair bosses, and annoying co-workers.
7K Metals sure sounds interesting. But you have some doubts about it.
Welcome to my 7K Metals review.
This 7k Metals review offers an insight into the precious metals business.
We will reveal the marketing scheme used by 7K Metals called: Wealth Autopilot.
If you think of getting rich with 7K Metals, think again!
Let’s see why many people have joined and found that they haven’t made enough money to break even.
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7K Metals Review Summary
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What Is 7K Metals?
7K Metals is an Idaho company founded in 2016 by Roger Ball, Richard Hansen, Zach Davis, and Josh Anderson.
The company uses a multi-level marketing (MLM) business model to sell precious metals.
It offers entrepreneurs access to NGC-authorized precious metals at reduced prices with an opportunity to earn income, which the company calls Business-In-A-Box.
The company’s mission is to improve the lives of people all over the world by investing and selling precious metals, coins, bars, and bullion.
7K Metals offers gold and silver to members at wholesale prices.
So, there are two ways for entrepreneurs to make money with 7K Metals:
- You can purchase precious metals as an investment at a significant discount.
- You can promote the 7K Metals membership program to build a downline and earn residual commissions.
What is the catch?
You must join as a paid member to purchase and sell 7K Metals products.
As you can see, 7K metals promote an MLM business as a way for you to achieve financial freedom.
You must be wondering: if this MLM is a good and legit business investment?
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Is 7K Metals Legit?
7k Metals is a legit business, not a pyramid scheme because members can still make money selling precious metals.
Like all MLMs, you should be cautious of earning claims and promises made by recruiting members.
Even though 7K Metals is not a scam, it is hard to earn a good living promoting MLM.
You must recruit a lot of people to join your team. Recruiting is the only way to earn residual incomes.
Though 7K Metals has a good reputation in general, many people have joined and found that they haven’t made enough money to break even.
Over 99.9% of MLM business owners failed.
Another good indicator that 7K Metals is legit is the owners.
Zach Davis, Roger Ball, Richard Hansen, and Josh Anderson are real people. Let’s look at their experience.
Davis has a long experience with MLM companies.
As a college student, Davis was introduced to network marketing and has since helped many people reach their goals.
According to online sources, Zach Davis founded many successful MLM companies.
One particular company is Black Ink International.
Black Ink International is an MLM company Zack Davis and Anderson have operated since 2011.
7K Metals is not the first company Davis and Anderson co-founded together.
According to his bio, Anderson claimed to involve with MLM at 21.
Anderson built a team of over 18,000 people with the first MLM company in 2008.
In 2009 Anderson recruited 9,000 people within four months with another MLM company.
Anderson claimed to have built three downlines of over 20,000 people in the last 16 years.
Josh Anderson has been the master distributor, Chief Executive Officer, and Board of Directors for some of the largest MLM companies in the world.
The bio does not mention the name of the MLM companies. It makes you curious about which companies.
Other 7K Metals reviews state Anderson as a partner of an MLM company called Black Ink International.
On his LinkedIn profile, Josh Anderson confirmed that he owned Black Ink International at one-time.
The other MLM company listed on his LinkedIn page is JD Premium. Josh Anderson was CEO from 2009-2011.
It’s the same JD Premium that Roger Ball started in 2004 and closed down a decade later.
There is very little information about Richard Hansen other than his bio.
The bio states that Richard Hansen has been a collector of precious metals for over 34 years.
Richard Hansen entered the MLM business in 1982.
He was the Sales Director for JD Premium, where he would have worked with his other co-founders before starting 7K Metals.
Roger Ball seems to have more MLM experiences than the other 7K Metals co-founders.
In 1982 Roger and his brother Allen started a company called Oil of Melaleuca, Inc. which later became Melaleuca, Inc.
Melaleuca is a well-known MLM company.
Then in 2004, Roger Ball founded another MLM company called JD Premium, which unfortunately closed down in 2015.
As a co-founder of 7K Metals, Roger’s lifetime of business experience is good for 7K Metals.
Is 7k Metals a Pyramid Scheme or a Scam?
Whether 7k Metals is a pyramid scheme is not as easy to answer.
It is challenging to figure out exactly how members make money.
If members make money ONLY from recruiting, then 7K Metals is a pyramid scheme, a scam.
7k Metals is not a pyramid scheme if members can earn money by selling precious metals.
As I have stated earlier, it is impossible to build a successful MLM business without recruiting.
People who earn the most money with 7k Metals are the ones who recruit the most members.
I have not found any 7K Metals members building a retail business selling precious metals.
7K Metals offers no training in building a retail precious metals business.
Thus, 7k Metals is a pyramid scheme disguised.
However, there are no evidence or specific FTC actions to suggest 7k Metals as a pyramid scheme or a scam.
Sure, you have an opinion on whether 7K Metals is a pyramid scheme.
I have my own opinion as well.
But we both agree retail sales are not permitted. If you are not a member of 7K Metals, you can’t purchase anything.
The only way to make money with this MLM is by signing up new members.
Uh, this sounds like a pyramid scheme.
What Precious Metal Products Do 7K Metals Offer?
You can purchase a wide variety of products at 7k Metals.
The company sells:
- Silver and gold coins
- Platinum, gold, and silver bars
- Coin holders and boxes
- Jewelry such as necklaces and cuff links
At this point, you probably want to know how you can make money by investing in 7K Metals.
How Do 7K Metals Work?
You can purchase precious metals on the 7K Metals website by adding items to your shopping cart.
But before you check out, you must enter your referral’s name.
If you don’t have a referral, you must email support, which I think is a bit awkward since you can purchase precious metals from other companies at similar prices without emailing support.
This scheme forces you to become a 7K Metals member.
7K Metals members can buy precious metals at a discount price.
However, the membership fee is very costly. You might end up paying more for the gold or silver coins.
Unless you plan to promote this MLM, it is not wise to buy precious metals from 7K Metals.
7K Metals Membership Requirements
Not everyone can join the 7K Metals MLM business program. Entrepreneurs must meet these requirements:
• Must be of legal age in your country of residence.
• Have the legal capacity to enter into a business agreement.
• Reside in the United States, US Territories, and other countries where 7k Metals operates.
• US residents must provide a Social Security number or Federal Tax ID.
• Non-US members must provide proof of residency and the tax status of their country.
• Signed and submit a completed 7K Metals Independent Associate Application and Agreement.
The last step of joining is purchasing a 7K Metals membership fee, which we’ll discuss below.
Only members have access to discount pricing, training, and the opportunity to build ab MLM business with 7K Metals.
If you meet the requirements above, here are the 7K Metals membership fee options.
7K Metals Membership Costs
You can join 7K Metals by purchasing a Basic or a Premium Membership Package.
The basic membership costs $249 per year. It allows you to purchase precious metals at wholesale costs, nothing more.
The premium membership costs about $499 a year.
Premium memberships give you access to wholesale prices with additional benefits.
Here’s what you get:
- 1 Silver Eagle Coin
- 1 Medallion
- 1 World Coin
- 1 Silver Round Coin
- An annual Business Builder credit, and
- Only premium members can enter the MLM program.
I don’t see why you buy the basic package just for the discounts.
You can purchase precious metals for the same price from other dealers without paying membership fees.
If you want to build a business, the first step is to buy the premium package.
It will cost more than $499 a year to launch the 7K Metals MLM business.
In addition to the membership costs, you have to purchase a travel card. It offers a discount on travel.
The standard travel card costs $250 a year.
The premium travel card costs $500 a year.
I cannot see the connection between the travel card and precious metals.
It’s just another way for 7K Metals to make more money.
Premium members are required to purchase the premium travel card.
So, the total cost to join the 7K Metals MLM program is $999 a year.
In addition to the membership fees, you must participate in the monthly AutoSave Program to qualify for weekly payments.
There are three price options:
- $105/month – 1 oz Silver Eagle Coin
- $135/month – Variety Coin
- $309/month – 1/10th oz Gold Coin
These prices are about three times the regular price for gold and silver coins.
So, why do you have to pay such a high price at 7K Metals?
7K Metals takes the price difference to pay your upline.
Sure, you can buy coins at market prices from 7K Metals without joining the AutoSave Program.
But to qualify for weekly commissions, you must join this program.
Paying the membership fee and joining the Autosave Program does not guarantee you will make money.
We must evaluate the 7K Metals compensation plan to determine profitability.
7K Metals Compensation Plan
7K Metals MLM uses a binary compensation structure.
A binary compensation structure has two downline legs, right and left.
Your referrals are placed on the left and right as they join.
You earn money by selling memberships and coins.
For each recruit, you earn 100 points.
For each coin sold, you earn 20 points.
The monetary value of a point depends on your rank, with the lowest being Associate and the highest being Gold.
- Associate – 1 dollar per point
- Copper – 2 dollars per point
- Bronze – 4 dollars per point
- Silver – 7 dollars per point
- Gold – 14 dollars per point
When you accumulate the first 500 points in each of your two legs, you earn $500 and become a 7K Metals Associate.
You move up rank by selling and recruiting more.
When the first two recruits become Associates, with two more added to your group (one on your right and one on your left), you advance to the rank of Copper.
As a Copper, you can make up to $1000/week.
The process repeats until you reach the Presidential Gold level.
The maximum weekly payouts for each rank are:
- Associate – $500
- Copper – $1,000
- Bronze – $2,000
- Silver – $3,500
- Gold – $7,000
- Executive Gold – $10,000
- Presidential Gold – $12,500
Presidential Gold members make the most money. But only a few people are at the highest level.
You can download the compensation plan for more information.
Is 7K Metals MLM a Good Business to Invest in?
The 7K Metals MLM business might be a good investment for people with access to a large number of people.
MLM is in the business of selling dreams. Typically, extroverted salespeople are the very few who make money.
If you are not a good salesperson, stay away from 7K Metals MLM.
7K Metals recommends you share the opportunity with at least five people each day. That’s 25 people a week and 100 people per month.
Listen, it is impossible to recruit 100 people to join each month. There are not that many people interested in MLM.
I am speaking from experience. Not only have I done it, but I won’t do it again.
Your situation may be different.
When deciding if 7K Metals MLM is for you, The first question you might want to ask is whether you are not comfortable going out of your way to recruit strangers every day for months.
Maybe 100 per month isn’t necessary, but a lot.
MLM business is best for someone who doesn’t mind recruiting strangers and selling dreams.
Statistically, your chances of success with MLM are not good. Over 99.9% of MLM business owners failed.
There are other opportunities for you to make money without recruiting strangers.
I work from home, which is a unique situation. I make a good living without seeing anyone for months.
You might be interested in learning more about My Home-Based Business.
I am not saying this fit you, but who knows.
7K Metals Pros and Cons
Surprisingly there are very few complaints against 7K Metals MLM.
I was expecting a lot of complaints, as it often happens with MLM opportunities.
There are a few complaints about the cost of the monthly AutoSave Program.
Few complaints do not mean 7K Metals is a good investment.
We must consider the Pros and Cons in evaluating the business deal.
- 7k Metals offers a variety of precious metals like gold, silver, bronze, copper, and even platinum for investing.
- You can make a lot of money if you are comfortable recruiting strangers.
- It is expensive to start with the 7K Metals MLM business. You must join as a member and pay for the monthly AutoSave Program.
- Earnings come from recruiting and monthly AutoSave fees, not from product sales.
- Recruiting is difficult. It is not fun either. It can also put a strain on relationships with friends and family.
- People are rarely successful in making money when they invest in MLM companies. Researchers have found that up to 99.9% of individuals who join MLM companies lose money.
- The market for precious metals is small and limited. There are not many people buying gold and silver coins for investment.
The odds of losing your investment are high.
7K Metals MLM as a high-risk business opportunity.
Final Review on 7K Metals MLM
7K Metals MLM doesn’t appear to be a profitable investment.
I am not picking on 7K Metals because it’s an MLM.
It has to do with the 7K Metals business model. The number doesn’t add up for me.
When a business relies on recruiting new members to make money, It will eventually slow down, with no more people to recruit.
That is why earning passive income in an MLM is a myth.
The business model may sustain for a short while. But when recruiting dries up, people start dropping out. The business collapsed.
Why would you invest in a business that’s going to lose money?
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I hope this 7K Metals review answers your questions about this MLM business.
Until next time.
Please, share your experience below.