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You might be trying to find a way out to escape the grind. Or all you need is a break from the work you no longer enjoy.
Companies like 7K Metals claim that they offer investment opportunities and money-making tactics that, in the future, will make long commutes, harsh bosses and obnoxious coworkers obsolete. Is it a con, though?
Finding the ideal investment and income alternatives takes time and effort. Even if there are some things you'd rather not know, our objective is to give you all the information you need about 7K metals in this review. You'll know more clearly if 7K Metals is right for you.
In this evaluation, we'll describe them, what they do, how they operate and whether they can help you achieve your goals: greater freedom and financial stability.
First, let me clarify what multi-level marketing companies (MLMs) do if you have yet to learn. These are enterprises where one pays another for the right to sell the latter's goods.
Sometimes, the final results are even passable (I still remember my mom throwing pampered-chef parties when I was younger). Sometimes the things are overpriced and of low quality.
Getting customers to sign up for a regular subscription with you is usually the only way to make money. Anyone can sign up customers and keep being paid if the product is real and useful.
If the product is terrible, you can expect to lose all your customers and never make any money again. The main drawback is the strain of relying on your "network" to make a sale places on your personal connections.
This is not to say, however, that MLMs are inherently harmful. This implies you should be aware of the MLM structure you're joining before committing to it. Some multi-level marketing companies (MLMs) help people, but the vast majority still need to. In this piece, I'll explain why 7k Metals is an exception to this rule.
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About 7K Metals
7k Metals is a multi-level marketing firm co-founded in 2016 by Roger Ball, Zach Davis, Richard Hansen and Josh Anderson. Their current headquarters maybe 3640 S Yellowstone Highway, Idaho Falls, ID.
Members gain from cheaper precious metals and multi-level revenue potential or "business-in-a-box," as some have dubbed it. Customers interested in buying and selling precious metals, coins, bars and bullion are targeted using the multi-level marketing (MLM) business model.
The company's goal is to enhance the quality of life for individuals worldwide significantly. 7K Metals provides gold, silver and other precious metals as means for individuals to gain independence from monetary constraints and amass substantial wealth.
Members benefit from the lowest prices for precious metals because they are charged only the fair market value of such metals. 7K purchases these precious metals from the world's top distributors at competitive prices.
When you join 7K Metals to build a downline and earn residual commissions, you are investing not just money but also your time, effort and reputation.
How 7K Metals Works
Their website is a marketplace where buyers may acquire precious metals in high-quality coins, rounds and bars. Precious metal portfolios including bullion and numismatic objects are also available to customers through 7K Metals.
Each gold or silver purchased from 7K Metals is accompanied by a certificate of authenticity. Purity, weight and country of origin are all verified by this certificate. In addition, the organization provides customers with access to real-time market value tracking via its website.
After clients decide to put money into a portfolio, 7K Metals will work with them to build a portfolio tailored to their specific needs. After the portfolio setup, the shopper will be taken to an e-commerce site to complete their order. 7K Metals offers a safe and sound online payment option for all orders.
In addition to retail sales, 7K Metals allows consumers to store their metals in a secure, insured vault. This safe deposit box is in a monitored, secure facility at all hours.
7K Metals sells and invests in gold and silver, providing its customers with helpful resources for making informed investment decisions. Customers can gain insight into the international markets, metals and coin collecting and other critical areas of study related to purchasing and storing precious metals through these materials.
7K Metals Product Offerings
When it comes to precious metals investments, customers have a wide variety of options from which to choose at 7k Metals. Among the offerings are:
Gold and Silver Bars: 7k Metals has many gold and silver bars available. These bars are open in various sizes, weights and face values so that customers can find the perfect fit.
Gold and Silver Coins: 7k Metals offers a wide selection of gold and silver coins. These coins are available in various sizes and face values, giving buyers flexibility in finding the perfect fit.
Coin Holders and Boxes: 7k Metals sells coin holders and boxes to save and display your precious gold and silver coins safely. Many sorts of sizes and materials are available for these containers, so consumers can find the perfect match.
Jewelry: Gold and silver jewelry are available from 7k Metals as well. Pieces of jewelry such as necklaces, bracelets, earrings and rings are all made from precious metals. The wide selection of designs ensures that each customer will discover the ideal piece of jewelry for their needs.
7K Metals Membership Requirements
Using 7K Metals, metal recyclers may easily connect with potential purchasers for their scrap metal. Aluminum, bronze, brass and stainless steel can all be recycled for payment by qualified recyclers.
If you have a company license, a sales tax resale certificate and proof of insurance, you can join 7K Metals as a registered member. To sell products on 7K Metals, however, you must first create an account.
Being a 7K Metals member every month is worth every penny. Benefits like unlimited access to free resources, a 20% discount on all purchases and a 10% rebate are yours for the low monthly membership price.
The members of 7K Metals are all professionals in their own right. Therefore the services and goods they offer are indeed one of a kind. Members of 7K Metals can use the company's many benefits, including help sourcing metals, access to many marketing materials and opportunities to network with like-minded individuals.
Members can post advertisements for their metal wares and enjoy trade discounts. Members of 7K Metals are expected to follow the premium membership guidelines on the site. These include:
7K Metals Membership Fees
7K Metals MLM Membership Fees consist of two different fees: members fees and travel card fees.
Members Fees refer to the fees charged to become and remain an active member of the 7K Metals MLM. These fees can vary depending on the membership level that an individual wishes to join and are paid either monthly or annually.
The basic membership fee is $25 per month or $249 per year, while the premium membership fee is $50 or $449 per year. These fees cover the cost of access to 7K Metals' products and services. For example, members receive discounts on products and access to exclusive members-only events and promotions.
Travel Card Fees
Travel Card Fees refer to any fees associated with using the 7K Metals travel card. The basic travel card fee is $250 per year and the premium travel card fee is $500 per year. These fees cover the cost of using the travel card and any associated benefits such as discounts on airfare and hotel stays and access to exclusive travel deals and promotions.
7k Metals Compensation Structure
With 7K Metals' transparent binary compensation system, you'll be growing two "legs" of your business, one to the right and one to the left, from the moment you sign up.
Your commissions on the sales of both legs will increase as the size of your team and the number of people working for you both expand. If you recommend more people to the program, you stand a better chance of earning more money. Inviting others to join the group can earn even more privileges and benefits.
As it grows, more perks and benefits become available to your team. As your team expands and your revenues improve, this is an excellent method to establish a reliable passive income stream.
At 7k Metals, your sales volume determines the number of points you receive:
The 7k Metals payout system is based on reaching certain thresholds:
How Do You Get Paid?
MLM products are typically more expensive than their direct sales alternatives because of the commissions that must be paid out to many distributors.
7K Metals, on the other hand, sells gold and silver coins at prices that look to be the market low and are competitive with direct sales. If so, making a living off the sale of coins would be a losing proposition.
Although silver and gold bullion are their main offerings, they also sell jewelry and "7K items" like caps and sweatshirts, which probably won't bring in enough money to cover weekly payouts in the four and five-figure range.
The 7K Metals AutoSave Program
Our first thought was that it was due to increased interest in 7K Metals, which could be somewhat correct. You've probably found this page because you're still determining whether or not the weekly rewards and financial freedom offered by the AutoSave program (a coin-of-the-month style subscription) are worth the cost.
Everyone who's ever shopped for precious metals knows there's a disparity in the coinage. Program costs are high because a 1 oz Silver Eagle coin may be purchased elsewhere for considerably less (between $35 and $40 instead of $105). Around 66% off, then.
The price of a silver coin at 7K Metals is three times as much as that at other retailers; why would you pay that much more? Because your upline earns an extra $60 or $70 each month, depending on the monthly plan you sign up for. In addition, you will be paid a percentage of the $60-$70 that each of your sponsored recruits earns.
If coins are all you're looking for, 7K Metals has you covered at a fair price. Commissions are paid weekly, but only if you sign up for this program. It's not a prohibitively expensive degree program; you can even write off some of your costs as an investment. But if money is tight right now, there are better times.
Sound Money Wallet
When signing up for the 7K, you'll gain access to the Sound Money Wallet, a digital hub that functions similarly to mobile wallet apps. The gold and silver sold there are available in fractional and full-ounce sizes (fractional ounces).
Sound Money quantities smaller than the weight of a complete coin cannot be sent but can be stored in a wallet. While digital wallets have benefits, keeping precious metals like gold and silver at home has several advantages.
The upsides to having another person keep an eye on your belongings outweigh the potential downsides.
Select the appropriate option from the Transfer From the drop-down menu to begin a transfer from your gold and silver holdings, cash, digital currency, etc. or the initial funding account you set up. Choose the recipient (or yourself) to send gold or silver from your Sound Money wallet and then click Transfer to. You can trade gold for silver, for instance.
Following the selection of sending and receiving accounts, the amount of the Transfer can be entered. If you want your gold or silver shipped directly, remember you can only choose whole ounces.
Gold and silver fractional ounces can be purchased and transferred inside the system, but only full ounces can be stored at any given time.
Shipping, insurance and handling fees can add up, especially if you're sending a large sum from a faraway country. However, there are constraints in this area as well. At this time, you can only buy and store Gold Eagle 1/10-ounce coins and Silver Eagle 1-ounce coins digitally.
Collectible and graded coins, coin holders and display cases, jewelry and bullion can all be expected to arrive on time. Also, you can only purchase gold or silver during market hours and at the spot price.
Can You Make Money With 7K Metals?
You will earn points toward a limited number of rewards for every 7k Metals product you sell. Because of this, I worry about the product's viability. This was almost planned out ahead of time.
For every sale you make, you'll get 20 points, which will take 500 points before you're compensated. You can see why so few individuals are successful in MLM with this kind of pay structure. Between 70% - 100 % of people involved in MLM lose money.
We could not determine how much money 7k Metals members make because the corporation has yet to publicize that information. Very few people are making money off of the enterprise.
To maximize returns from this type of investment, it is crucial to cultivate a community of customers. This takes a lot of work but can pay off if done properly. Before making any financial commitment, learning about the market and the associated risks is crucial.
Taking your time and doing your homework before investing your hard-earned money is essential. Know your investment's potential downsides and ensure the organization you're dealing with is legitimate and has a history of successful investments. 7 K Metals do not provide these guarantees; thus investors should consider alternate, more trustworthy options like our top 5 best precious metals companies.
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