7k Metals is a multi-level marketing company that offers investors a way to put their money into precious metals such as gold and silver. The founders are successful businessmen, but most people who put their money into this company have not come out with a profit or even broke even. If you want to make money with precious metals, paying a membership fee to a company, as with 7k Metals, is not necessary.
Disclosure: Some of the links in this article are from sponsors. The list below is an honest review gathered from thorough research, experience, and consumer-based feedback.
Important to mention before going further into this interview!
We understand that choosing a company to invest with is an extremely important financial choice; good news for you, we have done all the research and digging in this field for years.
That being said, through our rigorous review process, we have compiled a list of our 5 top gold investment companies for 2022.
Check if 7k Metals made our top 5 list in 2022!
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- Over 1,000 5-star ratings from past clients
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- 5x Inc 500 winner
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Or Move On to the 7k Metals Review....
You may be looking for a side hustle, a way to eventually quit your day job and work for yourself. Or, you may just be looking for an added opportunity to your precious metal investing.
You're not alone.
7k Metals is one of those companies who makes a big claim to give you a money-making opportunity along with an investment strategy to start building your own future of freedom.
But is it legit or a scam?
If making money and building your own business were as easy as 7k Metals makes it out to be, many more people would be doing it. That doesn't automatically make 7k Metals is a scam, though.
Below I detail who 7k Metals is, what their compensation plan entails, and my thoughts on them overall.
MLM companies are inherently, uhhh..not great, but 7k Metals has an underlying benefit - that precious metals like gold and silver actually have value. They aren't selling a scam health product or cheap colorful leggings which is a definite plus for working with them.
How Does 7k Metals Work?
If you're looking into 7k Metals simply as a gold investor, you've unfortunately come to the wrong company. Your best and safest bet is to purchase your precious metal coins and bars from American Hartford Gold. They are a very reputable and trusted source, while also offering fantastic prices and a stellar buyback program. You can check them out here:
*No Minimum Investment
If you still want to learn more about 7k, here's how it works:
Every purchase you make has to be made under a "referrer" or someone who works under 7k's MLM.
Once you have found an individual to refer you, you can then make a minimum yearly investment of $250, which will need an upfront fee of $75 similar to Oxford.
If you plan to make money with their MLM operation, then mimicking those who referred you will be necessary.
By having others join you will make money through a system that is binary and requires an individual on each side of the team, also known as a "pyramid scheme".
Once the individuals are in place, you will then gain access to making money like you do with other companies including Lear Capital.
When new referrals join your team or a qualified purchase is made, you are rewarded with points.
As soon as each side of the team has 500 points, you get paid.
Because this type of design is used by many MLM companies, it is important to understand that for money to be made, you must have many team members and continue to have as many as you can, which is not always easy.
Pros & Cons
Deciding to Invest
Many people try to claim that marketing through a network is easy.
However, that is not easy to believe if you have several hundred individuals and none of them decide to make a purchase.
When this happens, it can become very depressing and would not make sense to stick around to see if things improve.
The failure rate of an MLM business is high and anyone who tells you differently is just pulling your leg. In fact, there are only a handful of people who can honestly say they have made a profit, but that number is under 1%.
Some have even described the system as being a way to never be able to earn anything.
This is a good way to turn people off who were trying to make a profit, but find it more difficult than they were led on to believe.
It is important to understand the system as well as how profits are truly made by an MLM.
The reality is in the amount of overhead the company has and with 7K Metals, it is very low.
Plus, no advertising is needed, which is why as an associate you are paid a certain amount through your marketing and referrals.
When it comes down to it, you can expect to be the one doing all of the work yourself for the company.
Additionally, you are expected to keep up with the minimum purchase amount so that you do not lose an associate.
General FAQs Regarding Investments
Yes, when you have thousands of clients, you can trust that risk will be reduced no matter what type of issues arise.
There are many ideas surrounding the meaning of risk. With that, a personal analysis must be made so the investment you make will be a nice complement to the potential risk. You can then be able to review these side by side continuously in order to know whether the investment remains to be a good one for you.
Many investments provide a guarantee designed to help put investors' minds at ease. These guarantees can also be beneficial to investors who prefer to be cautious. The downside is that there will be more cost involved.
Gold Investing Facts
Gold is a highly functional metal that is used in many industries and applications such as electronics and health care settings.
Although most may relate it to jewelry or as a liquid asset.
For gold's value to be determined, it must be monitored on a 24-hour basis and every day of the week.
This close following will also recognize any trends that could also affect its value.
7K Metals Review Conclusion
It is safe to say that the 7K Metals MLM is not a great way to make money or to invest your money
If recruiting and referring are your strong points, then you will do fine.
With that, 7K Metals is kind of "sketchy" like many have been led to believe.
When a pyramid scheme is conducted, an individual will always end up not having anything.
With 7K, a product and investment is questionable.