Choosing where to invest your money is a big decision, and it’s important to have all the facts before you make a decision. I’ve done extensive research to help you make this decision.
This 7k Metals review explains how this company offers a chance to make money and provides a plan to start building your future.
It mixes the long-trusted method of investing in precious metals like gold and silver with a modern multi-level marketing (MLM) business model.
This review aims to give potential investors and business-minded individuals the information they need to decide if 7k Metals is the right choice for them.
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What is 7k Metals?
7k Metals combines investing in gold and silver with a type of business called multi-level marketing (MLM), where people make money by selling products and recruiting others to sell.
It’s an interesting idea that lets people explore both traditional investment and a modern way to earn income.
In 2016, four entrepreneurs, Roger Ball, Zach Davis, Richard Hansen, and Josh Anderson, started 7k Metals.
They set it up in Idaho, wanting to offer people a new way to invest in gold and silver while potentially increasing their earnings through MLM.
7k Metals uses MLM, meaning that when you buy gold or silver from them, you can also choose to sell them to others. Plus, if you bring in new people who also sell, you earn a bit from their sales.
7k Metals isn’t just an American venture. It reaches the globe, operating in countries including the United States, Canada, the United Kingdom, Ireland, Australia, Singapore, New Zealand, Mexico, Austria, Switzerland, Germany, and Liechtenstein.
This wide reach means more people can get involved in investing in precious metals and trying out MLM, no matter where they are.
How Does 7k Metals Work?
7k Metals is a company that lets people buy, save, and learn about precious metals such as gold and silver through its website.
This company is like a one-stop-shop where you can make your collection of precious metals more interesting with good quality items.
When you buy something from 7k Metals, you get a special paper proving your gold or silver is real, telling you its purity, weight, and origin. This makes sure you know you’re getting the real deal.
Also, the company’s website lets you check the current price of your metal anytime you want to see how much your investment is worth.
7k Metals also offers a storage option in a secure vault. This means your metals are safely locked away and watched over 24/7, giving you peace of mind.
7k Metals doesn’t just sell metals. It also provides lots of information on how to be smart about investing in metals, including tips on coin collecting and how to better understand the precious metals market.
What makes 7k Metals different is its MLM (multi-level marketing) strategy. This plan lets members buy precious metals at a lower price. It’s a way to grow your money by investing in metals and also make money by getting other people to join.
- Members get discounts on metals.
- If you get others to join, you can make more money.
- 7k Metals gives you tools and teaches you about the market.
This company was started by experts in MLM who want to help you understand investing and how to make smart choices, to help you be financially free.
How Much Does it Cost to Join 7k Metals’ Membership?
With its special way of doing business, multi-level marketing (MLM), 7k Metals allows people who are interested in recycling metals or buying and selling precious metals to do business.
Here’s a simple look at how much it costs to become a member of 7k Metals:
What You Need to Join
First, you need a few things before you can join:
- A business license.
- A tax certificate for selling stuff.
- Proof that you have insurance.
What it Costs to Join
7k Metals has two kinds of memberships, each with price and perks.
- Basic Membership: This costs $25 each month or $249 if you pay for the whole year at once. With this, you get many benefits like discounts, rebates, and chances to meet other members.
- Premium Membership: This one costs $50 monthly or $449 for the whole year. It gives you everything the Basic membership does, but it also offers even more benefits and bigger discounts.
About the Travel Card
There’s also a travel card that gives you travel deals.
- Basic Travel Card: This card costs $250 for a year and gives you discounts on trips, such as cheaper flights and hotel stays.
- Premium Travel Card: Costing $500 a year, this card offers even better travel deals.
The Money You Need
- Starting Costs: You start with a $249 yearly membership fee for the Basic level or $449 for the Premium level.
What Type of Products Does 7k Metals Offer?
7k Metals sells a wide variety of precious metals, perfect for people who like collecting, investing, or buying unique jewellery.
They offer special coins like the Royal Tudor Beasts Bull of Clarence 2 oz Silver Coin from 2023. You can buy this coin for $229.99 without a grade and $299.99 with a top grade showing it’s in perfect condition.
7k Metals also have simple 1 oz silver rounds and bars for those who want to invest in silver. The rounds cost $27.78 each, and you can buy 20 of them in a tube for $573.20.
The single 1 oz silver bars are a bit more expensive at $28.66, and while you used to be able to buy 20 at once, they’re all sold out now, showing they’re popular.
For gold lovers, there’s the American Eagle Gold Coins. The big 1 oz gold coin costs $2,470.31, and the smaller 1/4 oz coin is $718.74, making it easier for more people to buy gold.
Moreover, they also have very special items like the Wild Mongolia Mongolian Falcon 50 Gram Copper Coin from 2023, which is only available in the highest grade for $119.99, because the others sold out quickly.
Another unique item, the 1/10 oz Gold Round featuring the Battle of the Coral Sea, has sold out too, showing that people really like these historical pieces.
On top of all the coins, 7k Metals also has beautiful jewelry, like a 14k Gold Whale Tail Necklace for $219.99, perfect for wearing or giving as a special gift.
Therefore 7k Metals has lots of different things for anyone interested in silver, gold, collecting, or just finding something special to wear.
Collections
The 7k Metals collection offers a wide range of themes for collectors. With different sets like “An American Life,” heroes like JFK and George Washington are celebrated for their impact.
“Archeology & Symbolism” dives into ancient mysteries, while “Afterlife Rites of Passage” looks at old rituals about life after death.
Nature lovers can enjoy “Dot Art Four Seasons” and “7 Summits,” which honor changing seasons and high mountains.
The “Numismatic Icons” set is perfect for coin fans, and “Real Heroes” honors brave individuals. Travel through the universe with the “Solar System” or rock out with the “AC/DC” set.
Lastly, “Asian Mythology” explores fascinating stories from Asia. Each collection has unique pieces that are valuable and full of stories and history.
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What Services Does 7K Metals Offer?
7k Metals is a company that makes buying gold and silver easier and more affordable. They have a club you can join, which helps you get these precious metals at lower prices, making it simpler for people to invest or start a collection without spending too much.
Besides just buying, some other noticeable services are:
AutoSaver
7k Metals’ AutoSaver program delivers top-quality gold and silver to your door monthly, making collecting effortless and worry-free.
Choose from unique collections, starting at $115, $139, and $179 a month, like American inventions on Silver Eagles or global beauty on silver coins.
There are gold and silver state animal collections for those interested in rare finds. With AutoSaver, you can easily build a valuable and diverse collection of pure and perfectly graded metals.
Gold-Backed IRA
A Gold-Backed IRA lets you save for retirement by investing in gold, silver, platinum, and palladium. A special savings account lets you put your money into real precious metals, not just stocks or bonds.
With 7k Metals, you can buy high-quality metals that fit IRA rules or pick your metal seller. You can even add Gold American Eagles to your IRA.
Once you buy your metals, they’re kept in a safe place by another company and protected there. This kind of IRA gives you control to grow your retirement savings with solid, physical items and keep your savings safe from big ups and downs in the market.
Stack & Sell
With Stack & Sell, you can buy special coins, check they’re real, keep them safe, and sell them easily. This cool online place lets you keep track of all your gold and silver coins, even the rare ones.
Experts check your new coins to make sure they’re the real deal. Then, you add them to your digital list and watch your collection grow.
This system is made for people who love collecting and want to see their retirement savings grow with valuable coins. Get your gold savings and coin hobby together with Stack & Sell – it’s simple and safe!
Soundmoney
Soundmoney is a simple way for beginners to invest in gold and silver without storing heavy bars or coins. With just $1, you can turn your cash into gold or silver through an easy digital system that gives you the best market rates without charging extra fees.
It’s like having your money converter that switches between cash, gold, and silver. Plus, all the gold and silver you buy are real and kept safely in secure vaults.
You can even transfer your investments to friends, cash out any time, or get the actual gold and silver delivered to your home. Soundmoney makes investing in precious metals straightforward and convenient.
7k Health
7k Health believes keeping your family healthy shouldn’t be expensive. They’ve teamed up with FMA Health to provide affordable and comprehensive healthcare for their members.
This includes excellent full coverage for your entire family and even your pets. For just $39.95 a month, you can get the 24 Hour Virtual Care Plus package and add options like dental, vision, and pet insurance.
This way, everyone you care about, including your pets, gets cared for all day, every day, throughout the year. Sign up today to make healthcare for your family and pets a priority, all without overspending.
7k Advantage
7k Advantage helps you save money, making life easier when prices increase. It’s a special program for 7k members that lets you cut costs on everyday items and vacations.
With the Auto Saver feature, members can save in several ways, including on groceries, things for your home, pet products, and plenty more. Plus, if you’re considering traveling, you can get great deals on flights, hotels, and car rentals.
There are savings at big stores like Target, Best Buy, and even at your local cafe or corner shop. Every deal and discount is easy to find, helping you make the most of what you have.
Supplement Income
Extra money can make a big difference for many families, and 7k wants to help. Things can get a lot easier with just an extra $500 a week.
Starting is simple: share info about 7k and bring in two customers. Doing this lets you become an Associate. As an Associate, you’ll learn a lot about building a business and making extra income with 7k Metals.
You can start getting weekly paychecks of $500 or more. The more people you bring to your team, the more money you can make. This way, 7k Metals helps more folks earn extra cash, improving their lives.
Shipping and Delivery Options
7k Metals sends out orders quickly, usually within 48 hours. However, special coins might take up to 30 days after payment. If your order will be late, they’ll let you know. Regular metals are sent within 28 days.
Customers can check where their package is and choose to sign for it when it arrives for extra security on orders worth more than $500.
If something goes wrong with the delivery, you must tell 7k Metals within three days, or they might not be able to help.
7k Metals is not responsible if you tell carriers to leave packages without a signature. They pack metals safely and secretly. If they can’t deliver something because of the wrong address info and it comes back, they’ll try to reach out.
They might charge for storage if they can’t deliver it in 30 days. Following Idaho’s rules, after 90 days, they might sell it off to cover their costs.
Returns and Exchanges Policies
At 7k Metals, the return and exchange rules are clear and depend on what you buy. If you cancel your order before it’s shipped, usually in 6 hours, you can get all your money back.
If you buy a special coin from 7k Metals, you can return it within 30 days for the full price, but they keep 10%. Coins must be like new.
If you bought jewelry, you could only return it with special permission, which costs extra for restocking and shipping. Like gold bars, bullion can’t be returned, but 7k Metals might buy it back under certain conditions.
You have two days to accept the offer if they agree to buy it. For damaged goods, 7k Metals will be paid for return shipping. All refunds go back to how you paid.
Remember, you need permission before sending anything back. For help, email or call 7k Metals. Always check your bank after a refund to ensure the money is there.
Pack it well if you’re sending stuff back, write the permission number on the box, and pay for shipping yourself. If 7k Metals doesn’t get it, you need to track it down.
Cancellation Policies
7k Metals makes it easy for members to cancel their accounts whenever they want. You can do this by emailing or writing a letter to their office in Idaho Falls.
When you send your cancellation request, make sure to include your signature, full name, address, and member ID. The cancellation period starts the day 7k Metals receives your message.
After you cancel, you’ll lose access to all the special services and benefits of being a 7k Metals member, like using the Sound Money wallet and private vaulting. However, you can still withdraw any assets you have with these services.
7k Metals will let you know when it’s time to remove your belongings and will start charging monthly fees for storing your assets if you don’t remove them immediately.
If you don’t respond within 90 days after canceling, your assets will be considered left behind, and they will use the money in your wallet to cover storage costs.
Also, 7k Metals can end memberships with a 30-day notice if the company decides to shut down or close up for good.
Customer Reviews and Ratings for 7k Metals
People have different opinions about 7k Metals, a company that helps you invest in gold and silver and offers private storage for these metals.
It has good ratings of A+ with a 3.97 out of 5 stars average from 64 reviews on the BBB website. On Trustpilot, the company has a 3.6 rating from 38 reviews. A lot of people (82%) loved it and gave it 5 stars, but there’s a small group (18%) who were not satisfied, giving it 1 star.
7k Metals is rated 4.1 out of 5 stars on Google My Business, based on 113 reviews. This shows that most people who used their service are happy with it. They like how the company helps them invest in precious metals.
Most people think it’s a good way to learn about investing in metals and like the special storage they offer. They say if you give them a low score, maybe you didn’t really get how they operate.
However, not everyone is happy. One person didn’t like having to pay a membership fee to buy metals and had trouble canceling their membership. They felt stuck and said the coins they bought lost value and were hard to sell.
These reviews show that while many are happy with 7k Metals and see it as a smart choice, a few didn’t have the experience they hoped for, mainly due to issues with costs and communication.
What are Customers Saying About 7K Metals?
7k Metals is receiving great reviews from its users for its unique combination of financial opportunities and health benefits.
For instance, Greg Czerniak was able to help a young father save $1,000 a month on healthcare, which also allowed him to start investing in gold and silver.
Dwight and Karla Stelly are happy with 7K’s healthcare which saves them a lot of money every month and covers them nationwide. Jeff Denson also mentions saving $900 a month compared to his work’s health plan.
These stories highlight how 7k Metals offers more than just a chance to invest in metals; it also helps improve users’ financial and health situations.
Pros and Cons of 7k Metals
Let’s break down the good and not-so-good points about investing with 7k Metals:
Pros:
- Lots of Metal Choices: You can buy many kinds of metals like gold and silver coins or bars.
- Fair Prices: They say they give customers good deals because they buy metals cheaply.
- Safe Investment Option: Investing in gold and silver with them could be smart for your future.
Cons:
- High Risk: There’s a big chance you might not make money, and many people lose money.
- Prices vs. Subscription: The price of their metals might not be worth the cost of joining.
- Not Watched Over: They aren’t checked by money authorities, which means there could be risks like fraud.
Is 7k Metals a Pyramid Scheme?
A customer said that 7k Metals is more about getting new people to join than selling metals because the products cost too much. She felt cheated because her salesperson wanted her to find more members, not sell.
She also thought the good reviews were from people who just wanted to get others to join. Even though she likes investing in metals, she told people to stay away from 7k Metals.
It’s technically not a pyramid scheme. You don’t have to get others to join to make money, but selling the pricey products is hard.
Making money with 7k Metals is tough, and you need to be patient. You get points for sales, but they don’t pay you until you have a lot. Also, it’s unclear how much money people make with them.
What are the Differences Between a Pyramid Scheme and MLM?
A pyramid scheme mainly makes money by getting more people to join and invest, not selling things. It’s illegal.
On the other hand, Multi-Level Marketing (MLM) companies sell real products or services and let you earn from sales and recruiting new people. MLMs are legal business plans.
Frequently Asked Questions
Q1. Is 7k Metals a fraud?
7k Metals is not classified as a fraud, but it has faced criticism for its heavy focus on recruitment over product sales.
Q2. Can you make money with 7k Metals?
You can potentially earn with 7k Metals through sales and referrals, but success often depends on your network and sales skills.
Q3. How long have 7k Metals been in business?
7k Metals has been operating since its establishment in 2016, aiming to offer precious metals through a multi-level marketing model.
Q4. Who is the CEO of 7k Metals?
The CEO of 7k Metals is Sam Cook, one of the company’s co-founders.
Q5: Does 7k Metals have any pending lawsuits?
There are no widely reported pending lawsuits against 7k Metals. However, legal situations can evolve rapidly.
Conclusion
In summary, 7k Metals sells precious metals and has a rewards system. However, it operates on a multi-level marketing (MLM) model, which raises some red flags. Because it relies on members recruiting others to make money, most people lose money instead of earning it.
The company also doesn’t encourage learning about the precious metals market, which could be misleading. Although it seems to have a good online reputation, this might not be accurate since members might leave positive reviews to attract others.
7k Metals has high membership fees compared to other options, making it less appealing. It’s not called a pyramid scheme but shares some characteristics with other MLMs, meaning it has good and bad sides.
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