Gold Retired

What is 7k Metals? | a Scam Pyramid Scheme or Legit Business?

by 40 Comments

Today we review 7k Metals. What is 7k Metals? a scam or legit? How does it work? Is it for you or should you look at other alternatives instead? This is just a few of the many questions we help you answer in this short review!

Name of the company: 7k Metals7k metals review

Official Website URL: https://www.7kmetals.com/home

Overall Rating: 2.5 out of 5 stars (2.5 / 5)

Recommended? : Not recommended

Important to mention before we go into more details:

P.S. 

If you are interested 7k metals for the earning potential by promoting them then I would highly recommend you to look at selling gold for a real gold company instead, you might want to check out this page and see how you can earn $100k commissions from one sale without aving to be involved in MLM or pyramid schemes.

With that being said, let´s continue with the review on 7k Metals!

Intro

What is 7k metals (a scam?) Why has it become so popular lately? Can you rely on it to earn an income? These are some of the questions that we shall be addressing in today’s review. My objective is to reveal as much information as I can within this article, hence I will stick to the structure outlined below:

  • What is 7k metals?
  • How does it work?
  • What does it offer?
  • How are its services priced?
  • Is it a genuine company?
  • What are its major pros and cons?
  • Final words and verdict

What is 7k Metals about?

7k Metals is a Multi-Level-Marketing company that was created in2016. This Idaho-based firm relies on this marketing approach to reach more customers. With 7k Metals, people are required to pay for membership packages in order for them to be granted access to precious metal products.

7k Metals’ objective is to influence the lives of people on a global scope since its founders are aware of the financial harm that can befall such people if the economy crashed in the near future. Even with the occurrence of sudden and unprecedented events, it is possible for these people to bounce back since they are in possession of stable assets.

Unlike other precious metal companies that help people to the only invest, 7k Metals seeks to help people achieve financial independence. Once they have achieved financial independence, they can then proceed to secure their future by purchasing silver and gold assets.

Those who join this company through the MLM system are guaranteed very low precious metal prices. These members actually receive the precious metals at the price that 7k Metals purchased them at, at least that is what 7KM claim…

How does it work? 

In order to benefit from this company, there are certain steps that you are required to follow. These include:

1.    Choose a starter pack7k Metals scam7k Metals has 3 starter packs that you can choose from. All you are required to do is choose one pack and get set to begin enjoying the benefits that it presents. The main factor to consider when choosing your starter pack is your budget as well as the expected advantages.
2.    Select your AutoSaver coin
You are then required to choose a precious metal that you want to be delivered to your doorstep every single month.  This essentially puts you on an AutoSaving mode, in that your money is put into assets without you having to follow up on the entire process.
3.    Reap all the other stipulated benefits
Each membership package comes with its perks. They include low bullion prices, cool jewelry, as well as access to rare coins.

What is offered on this platform?

The main products that are offered by 7k are precious metals. They are presented in numerous variations and designs. The main categories offered by this company include:
–    7k Selected
This is a collection of some of the best precious metal products whose value is bound to increase significantly when held for the long term.What is 7k Metals?
–    Jewelry
7k Metals has an assortment of jewelry made from silver and gold. If you have always wanted to wear watches, chains, rings, and monkey clips made from precious metals then you can access them through 7k Metals at very affordable rates.
–    Dealer Direct
As a 7k Metals’ member, you can gain access to some of the best deals that the main bullion suppliers offer. This enables you to purchase larger precious metal product volumes at very low prices.
–    7K Gear
7k has accessories that men and women can purchase. They include phone wallets, backpacks, fleece sweaters, fitted hats, t-shirts, and a polo shirt.7kmetals.com

In addition to these products, this company offers a membership plan which is a financial product in its own sense. You can either pay for the basic membership or the premium membership. In both cases, you are also required to pay for travel savings cards, for which the prices vary on the basis of your membership package.

As a 7k Metals member, you can invite people to join this program and get some commissions when they join. This company’s affiliate program is based on a Multi-Level-Marketing structure, which means that your earning potential is higher. You can accumulate more funds when you join the network very early. All you have to do is to ensure that you invite affiliates who are very ambitious and active, then you can have recurring income being sent to your account.

Pricing and Fees

Some of the fees that you are required to pay when working with this company include:

1.    Membership fees
Every member is required to join the basic or premium membership category. The fees charged for each group are:
–    Basic –$249 per year
–    Premium- $449 per year

2.    Travel savings card
Upon joining 7k Metals, you are also required to pay for a travel savings card. Each membership category pays different fees as shown below:
–    Basic -$250
–    Premium-$500
With this card, you can find the best travel deals on a monthly basis, and you can also set up the AutoSaver Coin subscription.

Is 7k Metals a Scam or Legit and Genuine? 

So, is 7k Metals a Scam? No, 7k Metals is a genuine business but… it is also a Multi-Level-Marketing Scheme aka Pyramid scheme. There are people who have had their fair share of experiences with MLMs, thus I’d like to emphasize that to ensure that no one gets into something that does not work for them.

Personally I am not a fan, at all. But kudos to them for keeping it transparent and not claiming to be something else, like in many cases when it comes to MLM (pyramid schemes).

That said, however, there are not many complaints to be found online about the authenticity of this company’s products. In addition to that, this company is run by a group of very professional executive directors, including :

–    Zack Davis
–    Josh Anderson
–    Richard Hansen
–    Roger Ball

The four directors have been in the MLM industry for quite a long time, and they have all achieved great results in that “questinable” industry.

Be aware!

That being said, my personal opinion (based on very bad experience from MLM´s and pyramids) is that I would never turn to an MLM business to buy gold & silver, I mean why pay in order to be able to buy? When you can just buy from other dealers without having to? Also, the whole purpose and business model of an MLM is that the products are overpriced, that is how the model survives, so it can pay all the members all levels down… So, please be aware of this and don´t come back here and say I didn´t warn you.

**Tired of Pyramid scams and MLM´s?idea

You might want to know that there are great and easy ways to buy both gold and silver without having to get involved in MLM´s, we have many different companies and ways to do that listed on this site, below are 2 different (and great) ways to make smaller buys in a very hassle free way:

==> See our #1 recommended place for “smaller” purchases of quality gold & silver on this page

Or,

==> See our #1 recommendation to trade between physical Gold and Bitcoin on this page

Pros and cons 

It might be wise to compare the positive sides against the negative ones to get a better overall view of something. Especially when it comes to MLM, right? As always in our reviews we provide you with some clear points on both sides of the spectrum:

Pros

–    It is genuine (they are open about their business model)
–    Excellent management team with experience
–    Members gain access to precious metals at low prices

Cons

–    One has to be a member in order to purchase.
–    It is an MLM
–    A lot of emphasis is placed on the recruitment of members. (like in most MLMs)
–    Costly for investors (like in most MLMs)
–    Limited precious metal products.

Do You Own or represent 7k Metals?

If you are a representative, or associate of 7k Metals and have found something not to be correct in this review please, feel free to tell us and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or simply by sending us an e-mail to contact@goldretired.com.

Final words and verdict

Verdict: Not Recommended

Overall rating: 2.5 out of 5 stars (2.5 / 5)

Ok, I think that sums up the overall view of 7k Metals. Sure, it is a legit service, however, am sure many would call it a scam. If it is the right one for you or not is something you have to decide yourself. It is always a wise thing to educate yourself as much as possible in the areas you are interested in. It might be a good thing for you, however, make sure to get your info from more than one source.

You made a wise decision to read this review and you are a smart person so I am absolutely sure that you will find the right company to do business with that suits your particular needs the most.

What I would recommend?

There are many great investment services out there. We have many Gold Mining investment opportunities and services, coin dealers, IRA service providers, and financial services in general listed on this website, mostly for precious metals and Bitcoin but also for other alternative investments.

You can find the best from 2 worlds that we can recommend below:

==> See our #1 recommendation for “smaller” purchases of QUALITY gold & silver on this page

Or,

==> See our #1 recommendation to trade between physical Gold and Bitcoin on this page

I hope you found this short review of 7k Metals to be helpful and that you now have a better understanding of what it is and if it is something for you or not. Please, if you have used any of their services then share your experience in the comment section below as it can help others! Also, if you got any questions about this review I will be more than happy to answer them below!

I wish you success!

Michael,

founder of: Goldretired.com

Comments

  1. I think you did a good job in describing the business. The one mistake I saw was you are asked to purchase travel cards. This is not required. You do need to get into the auto save program monthly but if you do then you receive a travel card based on the cost of your auto save.
    The auto save is a good thing if you want to start purchasing coins. Let’s be honest who would buy coins every month on our own. If we did we wouldn’t need to get involved. I’m not yet making money but I’m not working the business either. I do see and know once I get started good things will happen.

    Reply

    • First of all, thank you for your comment!

      Thank you for explaining how your experience have been with them also,

      personally, I just don´t like such business models, but if you do then that is good for you of course.

      Thank you again for your comment!

      /Sincerely

      Reply

      • Agree completely, most MLMs are not worth it even if there are a few ones that can be! This 7k one is not one I can see any benefits of.

        Reply

      • All I know is that with my 199 membership I can get Gold/silver eagles 24/7 365 days a year with 7k Sound Money Wallet for less then competitive cost delivered wherever I please. Love having the ability to invest in Gold and Silver 1 oz Eagles on demand not hoping they will come in.

        Reply

        • First of all, thank you for your comment!

          Ok understand, however, there are many places you can order silver or gold and get what you order… and that without having to pay a membership fee.

          Thank you again for your comment!

          /Sincerely

          Reply

    • ABSOLUTELY…MANY INACCURACIES ON THIS SITE, EVEN THE MEMBERSHIP PRICES ARE ALL INCORRECT THIS IS FAKE REPORTING OF 7K METALS, ME BEING A MEMBER OF TWO YEARS

      Reply

        • DeBora is correct. The information on this site is old, and needs to be updated. The membership costs are Basic @$199 pr yr, and Premium @$499 pr yr. And if you join, and decide you don’t want to actually work the business yourself, then you can turn off your autosaver, and just keep your membership, buying gold and silver from them whenever you wish (stacking gold/silver). Someone needs to update the info on this site. And I do have friends in this business who are making VERY good money, as well as saving up gold and silver.

          Reply

  2. 7k metals is BBB.org member and partner with NGC. 7k has expanded to UK, Canada, Australia, and Singapore. 7k sell bullion at dealer direct pricing, no middleman mark-up, no minimum or maximum. If you want to buy 1 coin or 100 coins the price are the same, other company give you some discount if you buy their set quantity. That mean you have to buy 100 coins or more in order to get a couple of dollars discount. Don’t forget different fee on different type of charges. 7k members, when they have cash in their account, there is no fee (the fee is around $2.85 or 3 dollars for credit card charges). You just buy the coin 1 or 2 doesn’t matter the quantity and pay the shipping. If you are not a member, you’ll pay credit card processing fee, and pay shipping service same as 7k member. As of August 2020 Fed-ex 2 days shipping is 7.99.

    7k have 3 different membership, standard, standard-plus, and premium $199, 359, and 499 one-year membership. If you just want to be a member, you can still do the business if you choose to. That would be 199 per year, you’ll get to access buyer certification program a short clip of videos teaching you the important about which coin are non-reportable, and which are reportable(1099-B) regarding TAX. You’ll also access to rare low mintage MS70 NGC graded coins that are exclusively for 7k members, include $125 value travel saving card (free) every time you want to order these MS70 coins. (optional not require)

    Just like any other company 7k have to make a profit to stay in business. Bullion, bars, and assorted rounds are dealer price no mark-up, only the MS70 collectors’ coins, the mark-up are reasonable. Others MLM company mark-up their product anywhere from 6 to 8 times the retail price, 7k only mark-up between 3 and 4. These MS70 will increase their asset value over time worth more than what you are paying for them today(2020)(hint retirement plan)

    As a member you’ll get to access to money wallet allow you to deposit your money and convert it into gold or silver, this mean that your money is back by gold and silver and your gold and silver are store in a secure vault that are not FDIC. This mean the government can’t touch it. And when the gold and silver price increase, your money increase, and so your gold and silver(non-reportable no 1099-b). If any time you need some cash to pay bills all you need to do is to convert your gold or silver back to cash and 7k can send you a check or wire transfer.

    So just a member, don’t do the business can you make money in 7k?
    Are you require to buy a useless product? that has no asset value over time.
    Are you require to buy ex amount of bullions in order to get a few dollars discount?

    1. (optional) Coins that are increase in value over time. MS70(optional) hint retirement plan, that has points and loyalty points associated with it, when you earn enough loyalty points you can use these points to purchase another MS70. Include $125 value travel saving card(free) no expiration date.

    2. Money wallet as mention above. NON-reportable and NO 1099-b.

    3. Bullion, Bars, and Assorted Rounds at Dealer Direct Pricing, NO Mark-up. Highest buy back price on bullion and assorted rounds.

    These information I have provided are fact. So, you can make an inform decision.

    The other 2 membership are for a serious business builder, too many benefits to list. Building a clientele and members will take time, 7k is not a get-rich-quick-business.

    Please call or chat with customer service on website to verify.

    Thank you for taking the time to read this important message.

    Reply

    • First of all, thank you for your lengthy comment!

      Great that you have shared your experience with this company, you seem to be pretty involved, right?

      It is very good that you share the info and make this page even more informative so people who are interested can get to know more about it.

      Thank you again for your comment!

      /All the best

      Reply

  3. I think there are some significant inaccuracies with the assessment of 7k metals.
    First- there is no requirement for membership to purchase the product. To access certain benefits you must be a member, however non-members can still purchase the products. A membership gives access to lower premiums and dealer direct pricing. Also the membership provides a sound money program, travel rewards, and access to business opportunities. To become a member there is NOT a requirement to build an MLM business. Many people get a simple $199 basic membership simply for the access to dealer direct pricing of precious metals. Unlike many online gold and silver retailers 7k doesnt require minimum or maximum purchases for their pricing. You get the best possible prices for any amount you choose to purchase. I hope that people would look much closer before calling this company a ponzey scheme or a pyramid scam. It’s just simply not true.

    Reply

    • Hi there,

      first of all, thank you for your comment.

      Yes, everyones opinions are different, personally I cannot see why I would have to pay for a membership in order to be able to purchase, I mean why would you want to do that when you can simply go to another place an purchace right away?

      Thank you again for your comment and opinion,

      /Sincerely

      Reply

      • Please Mr. Admin, I too just joined 7kmetals premium membership in these uncertain times based on the “Great Reset” all the financial people are talking about.
        I don’t understand why you, in thanking the person for the comment, denied the person’s assertion. Namely, that you do not have to be a member to purchase. He is pointing out the case that the membership privileges are worth it. How many people are Costco members?

        Reply

        • Hi there, yes the great reset is a thing right now…

          Personally I am not a fan of pyramid schemes and that is the reason why I do not recommend 7k metals, don´t get me wrong I like gold, obviously… However, cannot see any benefit in having to pay to buy it though…

          Investing in precious metals and cryptocurrency might be a good idea, and something not many investors might think about is this: https://goldretired.com/how-to-invest-in-farming-agricultural-stocks-helpful-info

          You might want to look into it.

          Thank you for your comment,

          /Sincerely

          Reply

  4. Sadly many of the comments below are mistaken. The Coins specialty minted to the tune of only 5500 of each now that 7K is commissioned to do so should undoubtedly be worth apx. $140-$200 for the $95 plus tax and shipping. I am excited about the brilliance in not only minting a limited addition but on the collector coins they are doing the homework for us. They find the scarce collectables with limited minting and few in circulation. By purchasing up the bulk of circulation they are creating an almost instant hike in the value in the coin as now they are only available on the secondary market. Even if you can find other coins at a better deal they will still have a bunch in circulation. This means value may stay stale or steady but slow increase. This is brilliant in their tactics. I love that you can have circumstances where they can put out a coin that they just about sell out on circulation, bringing it to the secondary market, and in 30 days at times make multiple times the coin value on resale. Whoever posts negative on here in my opinion were either promised an easy money business or had misconceptions due to lack in understanding the benefits. I am new but not new to this industry. At the very least we saved apx 8% on our coin purchases on bulk compared to others. I had no idea that my auto ship and especially my collector coins would be worth more than what I was paying. I understand in the companies past on the monthly coin. IT’S CHANGED SINCE …However even then to get a coin at half the value to be able to lose $60 a month to have access to the sound money wallet and dealer pricing on bulk orders to boot I still would have done it!

    I have not seen anything like this and I know what silver and gold is going to do over the next 5 years. Its by far better than a consumable product one is overpaying for. At least we see stocking up and value increase on what I think will be needed for bartering in the future but the immediate investment to me is stellar! If you see consumable products stack up you get off auto ship. This is due to people forgetting to take or not seeing value. Attrition is a terrible residual. I love the comp plan because it is geared on helping people in your team rank up to rank up. You need the right team, OR you will be a statistic. However with this company, In the long run, no matter what…EVERYONE WINS! In MLM you will always get negative but it’s rare people post the positive. I just got started and pounded through to get answers to the negative reviews. I NEVER TAKE THINGS AT FACE VALUE.. NO THE COMPANY HAS NO IDEA I AM SAYING ANY OF THIS. I am already crushing it. You just need a great work ethic and bring a handful of people at a time with you. DUPLICATE YOURSELVES. If you are not buying silver or gold now… Look at your future alternative. Patent number 060606… This is what we need to use to warn and prepare. If you knew toilet paper was going to run out you would warn and tell all you know. How much more important is this? BESIDES: Silver should be insane over the next 5 years. I am honored to be on board. In my first month we have already established a substantial check. It just depends on your approach, training, and team. #JWALLENGROUP

    PS. Due to our successful history in the industry we have been offered large sums of money upfront just to sign up. We did not get that here. This is the real deal and needed at the right time. Finally something that caught our attention that we can be passionate about. HERE WE GO!!!

    Reply

    • Hi there,

      many thanks for your comment, and for sharing your experience.

      I see what you did there with the tag on your team but that is ok, because you are right, having a good team and learning how to sell is key in any MLM, for as long as they work… Because they tend to stop working after a certain period, unless new members keep joining on a constant basis, right?

      Have to give you extra credit for knowing bout the patent 060606… It is a very nasty one, looks like the world is waking up to that though, agree with you completely there, it is a VERY important issue, probably one of the most important ones we face in today´s world. If you are into investing overall, gold, silver and Crypto. Then you might want to check out Jeff Berwick as his team got much knowledge and helpful services in that area, they also know ALL about that nasty patent you talk about, and everything connected to it… So that is one of my best recommendations to you: https://goldretired.com/what-is-the-crypto-vigilante-should-you-trust-it-or-not

      Another thing you might want to have a look at (as you are aware of the patent, and (most likely) some other few things connected… Is something we are being completely distracted from… and mainstream media is NOT talking about it, something that is (in my humble opinion) the BIGGEST problem we (the whole world) are facing is this: https://goldretired.com/ImportantInfo

      It is a short free 4-part audio series that you might want to listen to, it is NOT crypto, and it is NOT only about making money (even if you can make 1000´s %),

      please come back here and tell us what you think once you have seen it.

      Thank you again for your comment and for sharing your experience, it will help others make better decisions.

      /Sincerely

      Reply

    • Minted “special edition collector’s coins”? Get a grip. The value of the coins will be measured in terms of their wt. relative to the metal. A year, five, ten form now nobody will give a bleep that there were only 5,500 minted. all they’ll want to know is the price relative to the material and it’s then current pricing. And who’s “certifying” the real wt. value? How do you know the purity authenticity of what you are buying?

      The real money in 7K… the BIG money is all about recruiting and blowing up your binary commission downline. The binary comp plan- the best, most outstanding, profitable comp plan… for the front line “heavy hitters” brought on board to hustle and of course for the company. “Breakage” is guaranteed which translates over to comp paid to the corporate front line and the company.

      Reply

  5. Just another company that will eventually go down. If you want to purchase silver you can do so without joining a program. The prices on the site are inflated because of the comp plan. Everyone talks about the great reset, ok, crypto has taken over the hedge from gold and silver. It is good to own metals, I know it is but this is just another company that will eventually close. Look at some of the people coming on, it is inevitable.

    Reply

    • Exactly!

      Agree 100% with you on that, MLMs run for a while, then they crash. Just like you say, the prices are higher because they need to pay all levels in the pyramid.
      It is also just like you say, it is good to own metals but way better places to purchase from, even looks like silver might be a better buy than gold right now, right? If you are interested in especially silver then I would recommend to look at this company: https://goldretired.com/what-is-bullionstar-do-they-match-up-against-top-dealers

      They actually give you 10 grams for free only for register an account with them, a nice little bonus!

      Thank you again for your comment!

      /Best

      Reply

  6. My question is this: if the money system will crash and that is the reason 7k is saying they are selling gold, why are the owners and sales ppl willing to take paper cash as payment for this gold? It just seems they like paper money just fine. They also say they sell for a fair price, but also say they have to make a profit to pay everyone. Im not sure how they can make a profit without markup.

    Reply

    • Thank you for your comment Ann, and your very on point points, you are of course right, there is a markup, that is how MLMs work, they need a big markup in order to be able to pay on all levels down in the pyramid.

      Hope that makes sense? Got a feeling you already knew that, right?

      Thank you again for your comment!

      /Best

      Reply

  7. Hola !
    im in Mexico, i heard this company is coming here very soon,
    honestly im exited, like you said, you can buy silver and gold with out membership,BUT, im not buying anything now, i guess i will be forced to buy in this company often just for the membership, in other words, it will forced me to invest money in exchange for metal,for people who have financial education this my not make sense, but for others it will help to star saving and investing.
    i think i will join while i am in mexico, and hopefully they get here soon.

    Reply

  8. I find it strange to see there is still such prejudice ideas about MLM programs. The MLM model generates more business than the NFL, NBA, and other industries combined. Do your own research? Research of any kind does not begin with answers. It poses questions and arrives at conclusions without influence.

    I am not part of 7K yet. I’m doing my research. But this review was an insult to anyone with integrity. The fact that you have not give any time to listen to Eric Wore is obvious. Seems you need to check out Rich Dad/Poor Dad as well.

    There are only two alternatives to an MLM. First, is box store or service (like a contractor) that typically requires a huge investment to begin and sometimes years before there’s a decent profit.

    Next, would be a job which some idiot tells you what your time is worth and when you must show up to be a monkey.

    These both sound like slavery to me. A person is tethered to their business or job with no way out. That’s not living. That is existing.

    I haven’t joined 7K yet. But so far, it sounding good.

    Reply

  11. Yes. 7k has a partner that can do that for you. The company, New Direction Trust, is affiliated with 7k through a collaborative corporate contract.
    I just rolled over a 401k to a new GOLD IRA account I opened with them. I made my choice as to which bullion, gold, silver or coins I wanted to put into an IRS approved vault. It is really easy to do and 7k support is very responsive to helping you.

    Reply

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