7K Metals is a network marketing company based in Idaho which was founded in 2016. It is a multi-level marketing (MLM) platform that offers silver and gold coins and bars to potential buyers. 7k Metals has adopted the online trading method that most e-commerce platforms use nowadays. It has an online platform where a potential buyer will register as a member of the platform with a membership fee ranging from $249 (basic) and $449 (premium). Aside from the avenue to purchase silver and gold, 7k metals seeks to grant its registered members financial independence by allowing members to join the platform through a multi-level marketing (MLM) system. Multi-Level Marketing is a form of direct sales that most trading companies use to encourage existing members to bring in new customers by giving them a certain percentage of their recruit’s sales as a bonus. The MLM option of 7k Metals gives the members grace to buy silver and gold coins and bars at a very discount rate.
7k Metals Founders
The platform has well-known founders and, as such, douses the apprehension of it being a faceless platform which the founders can’t be ascertained. 7k metal founders are Zack Davis, Josh Anderson, Roger Ball, and Richard Hansen.
Anderson and Davis are more experienced in the network marketing business, while Hansen is the expert in the collection and mining of precious metals. Roger Ball is well known for his foray into the world of entrepreneurship. Hansen has been in the network marketing industry for 34 years.
Davis was exposed to the power of referral marketing strategy while in college. Anderson got wind of the multi-level marketing system at the age of 21. He built a team that sought the success of other people, which reached over 18,000 people in its first year of operation. Anderson and Davis also run a network marketing company that offers MLM since 2011, Black Ink International.
Anderson was the CEO of JD Premium from (2009-2011), and Davis was also the CMO (Chief Marketing Officer) of the company at that time. JD Premium focused mainly on personal care and nutritional products. Roger Ball was the owner of JD Premium, and he closed it in 2015. The company is run by a group of very professional executive directors who have been in the MLM system for quite a long time, and they have all achieved great results in the multi-level marketing industry.
What Products Does 7k Metals Offer
7k Metals platform offers precious metals like Silver and Gold for sale. These precious metals offered for sale are in different shapes, designs, and sizes. These precious metals are usually coins or bars. The cost of 7k Metals silver coins ranges from $19 to $226, while that of gold coins ranges from $162 and $1,945. 7k also has a membership package that aims to offer the members financial independence. You can opt for either the basic package with a $249 charge or the premium package with a $449 charge. Members are also required to pay for travel savings card. With the payment of the travel savings card, the members have access to the best traveling deals. They also have jewelry pieces for sale, made from the same materials they sell. They also sell merchandise like shirts, caps, jackets, and accessories for men and women.
How To Become a Member of 7k Metals Platform
To become a 7k Metal trading platform member, you have to register and pay the membership fee for either the basic or premium package. Each package comes with its perks and incentives. For a new member, you have to create an account by clicking the sign-up button on the platform and follow the registration instructions. For a registered member to access the platform, you must log onto the 7k metals platform with your username and password created during registration.
The Autosaver Coin
A common perk for being a member of the 7k Metal Platform is the Autosaver Coin. Members are granted the avenue to choose a precious metal that they want every month on their chosen day of the month. This program triggers an automated monthly order for the members. With this, the member’s money is put into an asset without the member having to do the hassle of engaging in the process.
The 7k Metals MLM Structure
Contrary to the general opinion that 7k metals is just a pyramid scheme that does not offer specific products for sale. 7k is technically not a pyramid scheme. There are other ways in which members can make money through the platform. However, the members who make enough money recruit many people, which gives 7k a similitude to a pyramid scheme. When a new member joins the platform, the recruiting member gets up to 100 points. A registered member on the platform gets 20 points on each coin sold.
The Commissions are paid through the coins earned using a binary structure. The binary structure places an affiliate at the top of a binary team then splits into two sides. At the first level after the affiliate position, the binary structure houses two positions. The following level of the binary team is generated by splitting the first two positions further into two positions each, making it 4 positions in all. Subsequent levels of the binary team are added with each new level housing twice as many positions as the previous level.
Positions in the binary structure are filled through direct and indirect recruitment of affiliates. The commissions are calculated using the points gained by the members. Points accrued through recruitment of new members are calculated thus;
Recruitment of a regular affiliate ($249 a year) generates 100 points;
Recruitment of a premium affiliate ($499 a year) generates 150 points;
Purchase of coins by a recruited affiliate generates 20 points.
7K Metals tallies up new points generated on both sides of the binary structure weekly. For every 500 points matched on both sides of the binary team, a $500 commission is paid out.
There are five earning ranks on the platform, which are;
1. Associate - which comes with a weekly commission of $500 on every accumulated point of 500.
2. Copper - which comes with a weekly commission of $1,000 on every accumulated point of 500.
3. Bronze - which comes with $2,000 on every accumulated point of 500.
4. Silver - which comes with $3,500 on every accumulated point of 500.
5. Gold - which comes with $7,000 on every accumulated point of 500.
Only premium members have access to the company’s MLM program. So it is advisable to opt for premium memberships to be eligible bonuses and maximize income opportunities and commissions.
Is 7k metals A Scam
7k metals uses a multi-level marketing strategy as one of the ways to seek financial independence for its teeming members, and this has earned it the tag of pyramid scheme in the eye of the critics, but the platform runs a genuine business, albeit with a trait of a pyramid scheme.
7k has well known and accessible founders. The platform is run by professionals who know their onions in the MLM industry, making it a reliable platform. It is accredited by Better Business Bureau (BBB). 7k Metals platform has a perfect A+ rating on BBB, and positive reviews of its business outweigh the negative ones. For a company that started operation in 2016, it’s a great sign for the genuineness of its platform. 7k metals has its own retail sales, and this distinguishes it from the other pyramid schemes. There has not been any report of customer complaints about the authenticity of the products sold on the platform. This shows that platform is not out to scam people in terms of its business.
7k Metals Review
7k metals is a multi-level marketing company that offers the sale of silver and gold to its affiliates who have interests in precious metals. The members in addition to investing in silver and coin can make commissions by enrolling new members into the company. The company seeks to enhance the lives of its members by granting them financial independence.
However, for one to make substantial money on the platform, one needs to have a significant number of people who will join and buy their products. The company focuses more on the MLM policy of the company. As such, the focus doesn’t lie with the retail business of the company, which is the selling of silver and gold. The recruitment of new members and making money off them gives 7k metals the tag of a pyramid scheme. Precious metals are not cheap as they cost a substantial amount of money. So it’s basically for those that are financially capable of sustaining its costs. Since its market is limited to financially capable individuals, it may be difficult to sustain the business with its limited market.
On every sale made by affiliates of the platform, they get 20 points. Affiliate will have to get 500 points on each side of its binary structure to get commissions. If the affiliate deals only in the buying and selling of precious metals, the affiliate has to sell a lot of products, to earn as many points as possible, especially given that it is only selling several products that will guarantee significant points. Therefore, the greatest way to make tons of cash is to focus on recruitment. With this, your earnings will depend on your rank as well as the size of your downline or team. The more you recruit and the more your downline recruit, the more you earn. To go up the MLM structure ladder, the people you enroll have to climb through the same process you pass for you to go up. This is not a small task. Most people get frustrated and quit.
The cost of joining any of the 2 membership plans ( the basic and the premium) of 7k metals is expensive than other platforms. The company claims it offers precious metals to its affiliates at the cost price. This claim is questionable as comparing the platform’s prices with some other platforms shows the difference is not much. Some may excuse this finding as the main focus of the company is the affiliate recruitment scheme.
7k Metals is meant for people interested in the network marketing business model. The platform only offers the sale of precious metals to its affiliates. The coin shop on the company website is only open to its affiliates to trade. The precious metals offered for sale has a limited market that limits access to the platform’s coin shop to only the affiliates. This makes it difficult to trade precious metals as the platform focuses on affiliate recruitment.
The Autosaver Coin program is optional, according to their website. It is a way to guarantee an active monthly purchase of the company’s product by its affiliates. It’s like a compulsion by the company on the affiliates to collect the coins after signing up for the company. Regardless of one’s interest in purchasing the company’s product, one is required to enroll in the auto-ship program, which guarantees sales and ensure that the member remains active.
7k metals is a business opportunity (of sorts) for those interested in precious metals like silver and gold bars, coins, and bullion. They can use these precious metals as a store of value and use the avenue given to them by the platform to buy at a discounted rate.
People with experience in network marketing and who have a knack for MLM ventures also have an edge when using the 7k metals platform since the company focuses more on recruiting more affiliates to the platform, and affiliates also earn more by recruiting more members.
It helps to keep in mind that only a few people survive in this type of business. This is not an investment one can dabble in just out of an impulse to collect precious metals. One should carefully and deliberately know the right leads since the platform offers a limited market with very expensive commodities, mostly only for financially-capable people.