7k Metals, established in 2016 and headquartered in Idaho Falls, Idaho, is a multi-level marketing (MLM) company specializing in the sale of precious metals, including gold and silver coins, bullion, and related collectibles. Founded by Roger Ball, Josh Anderson, Zach Davis, and Richard Hansen, the company's mission is to make precious metals accessible and affordable to individuals worldwide, aiming to enhance financial independence and wealth accumulation among its members.
Membership Structure and Benefits
7k Metals operates on a membership-based model, offering individuals the opportunity to purchase precious metals at competitive prices. Members can choose between different membership tiers, each providing various benefits such as access to exclusive coin collections, educational resources on precious metals investing, and potential income through the company's compensation plan.
Product Offerings
The company offers a diverse range of products, including:
- Gold and Silver Bullion: Bars and coins sourced from reputable mints.
- Collectible Coins: Limited-edition and exclusive coins, some designed by commissioned artists.
- Jewelry and Accessories: Items crafted from precious metals.
These products cater to both investors seeking to diversify their portfolios and collectors interested in unique items.
Compensation Plan
As an MLM, 7k Metals provides members with the opportunity to earn commissions by recruiting new members and selling products. The compensation structure includes various ranks and bonuses based on sales volume and team building. However, it's important to note that success in MLMs often requires significant effort in recruitment and sales, and earnings can vary widely among participants.
Pros of Becoming a Member
- Access to Precious Metals: Members can purchase gold and silver at competitive prices, which can be a valuable addition to an investment portfolio.
- Educational Resources: The company provides materials to help members understand the precious metals market and make informed decisions.
- Community and Networking: Joining 7k Metals connects individuals with a community of like-minded enthusiasts and investors.
Cons of Becoming a Member
- Membership Fees: Annual membership fees can be substantial, and it's essential to weigh these costs against the potential benefits.
- MLM Structure: Earning significant income often relies on recruiting others, which may not align with everyone's preferences or skills.
- Product Pricing: Some members have reported that certain products, particularly collectible coins, may be priced higher than comparable items in the market.
Member Feedback
Feedback from members varies, reflecting a range of experiences:
- Dean M., a member since November 2024, shared: "Awesome experience from the beginning. Receiving physical precious metals and fraction of gold and silver with ease."
- Conversely, a Reddit user expressed concerns in May 2022: "7K metals is just an OVERPRICED SCAM. So I joined the company... and promptly started getting coins... just about EVERY coin I purchased... was negative value anywhere from Negative $10 to Negative $60 a coin."
Conclusion
7k Metals offers individuals the opportunity to invest in precious metals and potentially earn income through its MLM structure. While some members appreciate the access to products and the community, others raise concerns about pricing and the emphasis on recruitment. As with any investment or business opportunity, it's crucial to conduct thorough research, assess personal goals and risk tolerance, and consider seeking advice from financial professionals before making a decision