Have you heard of 7k Metals and are you contemplating purchasing precious metals from them? We advise you to read our in-depth 7k Metals reviews before making any purchases to avoid losing your hard-earned cash. Without further ado, let’s get started.
Note: If you are searching for a trustworthy Precious Metals IRA Company, you may wish to view our Top-Rated Precious Metals IRA Company Here.
Table of Contents
- 1 What Is 7k Metals?
- 2 7k Metals Products
- 3 7k Metals Membership Cost
- 4 7k Metals Review Summary
- 5 Location:
- 6 Address:
- 7 Founded:
- 8 Management:
- 9 Website:
- 10 Pros of 7k Metals:
- 11 High Ratings
- 12 Legit Company
- 13 Expert Managers
- 14 Discounted Prices for Subscribed Members
- 15 Cons of 7k Metals:
- 16 High Failure Rates
- 17 Costly Membership Packages
- 18 Higher Prices for Non-Members
- 19 Difficult to Make Money with them
- 20 Limited Selection of Products
- 21 Customer Reviews and Ratings
- 22 Is 7k Legit or a Scam
- 23 Is 7k Metals a Pyramid Scheme?
- 24 Is there a Better Alternative to 7k Metals?
- 25 7k Metals Alternatives
- 26 7k Metals Reviews Conclusion
What Is 7k Metals?
7k Metals is an Idaho-based precious metals corporation. The company is a Multi-Level Marketing (MLM) enterprise, so it operates similarly to a genuine pyramid scheme. According to the 7k Metals website, the company was founded primarily to facilitate the purchase and sale of gold and silver in order to help people achieve financial independence.
As an MLM, 7k Metals employs the standard strategy of using existing members to recruit new ones, thereby gradually expanding its customer base. They have a comparable business model to Acre Gold. In contrast to other precious metals companies, however, 7k Metals requires a membership subscription before the benefits can be accessed.
7k Metals Products
7k Metals offers gold and silver coins, bars, and jewelry. Subscribed members are allowed to purchase metals at wholesale price, and if you do not wish to join their subscription program, you can still purchase metals as a guest, but at a higher price than if you were a member. The company also claims that members can earn a respectable income through their recruitment process, in which they are compensated for inviting their peers to join.
7k Metals Membership Cost
To become a member of 7k Metals and purchase metals at a discount, you must pay $249 per year for their Basic Plan and $449 per year for their Premium Plan. Again, you are required to pay for what they refer to as a Travel Savings Card ($250 for the Basic Plan and $500 for the Premium Plan) – which they claim will allow you to find the best travel deals in a month, as well as set up an auto saver coin subscription.
Tip: Avoid scams! Check out our Best-Rated Gold IRA Company Here.
7k Metals Review Summary
Location:
Idaho
Address:
3640 S Yellowstone Hwy
Idaho Falls, ID 83402-4703
Founded:
2016
Management:
Zack Davis, Roger Ball, Richard Hansen, Josh Anderson.
Website:
http://www.7kmetals.com
Pros of 7k Metals:
-
High Ratings
7k Metals has a high rating on platforms such as the BBB, indicating that they are a legitimate and reliable business. However, it is important to note that high BBB ratings do not always reflect a company’s true nature, as BBB does not factor consumer reviews into its ratings. Before conducting business with any company, it is essential to read authentic consumer reviews on websites like Trustlink, Facebook, and Yelp. We will discuss 7k Metals reviews and evaluations in greater detail later.
-
Legit Company
They are a legitimate MLM company who are transparent about their business model, unlike other MLMs who conceal their methods. Additionally, the company is legally registered.
-
Expert Managers
The success of 7k metals over the years can be attributed to the managers’ extensive knowledge of network marketing and precious metals investments. Thus, you are assured of receiving expert guidance upon joining the organization.
-
Discounted Prices for Subscribed Members
As a subscribed member of 7k Metals, you have access to reduced metal prices.
Cons of 7k Metals:
-
High Failure Rates
As you may be aware, an MLM is never a good investment and it is exceedingly difficult to earn money through it. To earn money, you must continually recruit new members. Not to mention that the market for precious metals such as gold and silver is extremely limited, making it extremely challenging to market them to new members.
-
Costly Membership Packages
Their membership fees are costly for most individuals. Also, keep in mind that their target demographic consists of individuals in a difficult financial situation.
-
Higher Prices for Non-Members
You can still purchase as a non-member, but you will pay more than subscribed members. This means that you must be a member to receive discounted prices.
-
Difficult to Make Money with them
Whether or not you have experience with similar MLMs, you are aware of how difficult it is to make money through recruiting in order to get paid. To earn money with 7k Metals, you must advertise the company via social media to coworkers, family members, friends, etc.
-
Limited Selection of Products
In comparison to other precious metals companies, they have a limited selection of products.
To avoid scams, learn about our Top-Rated Precious Metals IRA Company Here.
Customer Reviews and Ratings
Let’s now investigate 7k Metals reviews on online review websites. Since 2016, 7k Metals has been accredited by the Better Business Bureau and has earned a 4.14-star rating based on 77 customer reviews. 7k Metals has a rating of 4.9 out of 5 based on 136 consumer reviews on Facebook. In addition, Trustpilot gives the company 4.6 stars based on 29 customer reviews. They do not have any ratings or reviews on Business Consumer Alliance, Yelp, or Trustlink.
Is 7k Legit or a Scam
Obviously, 7k Metals is a legitimate business and not a scam. The business was accredited by the BBB in 2016, and its accreditation rating remains unchanged to this day.
Is 7k Metals a Pyramid Scheme?
7k Metals is considered a pyramid scheme due to its marketing strategy, in which members recruit new members to earn money. While this is typical of pyramid schemes, 7k Metals sells tangible products, which distinguishes them from typical pyramid schemes.
Is there a Better Alternative to 7k Metals?
7k Metals is not for you if you wish to roll over your IRA or 401k into gold. There is no mention of Gold IRAs on the company’s website, and it is certainly not a good choice for this type of investment. Consequently, if you are seeking alternatives that are free to join, you may wish to review our list of the Top Gold IRA Companies here.
7k Metals Alternatives
7k Metals Reviews Conclusion
We trust you enjoyed reading our 7k Metals reviews. 7k Metals is a precious metals enterprise that operates using a multi-level marketing model. Even though this is a successful business, it is important to note that few people actually thrive in this industry.
If you don’t like recruiting family members and friends or paying expensive monthly subscription fees, you need to find a trusted precious metals dealer. In addition, we recommend that you read our Gold IRA Investment Guide Here.
