You probably want to learn whether this MLM company is legit or just another Ponzi Scheme. Well, in this article, we will explore 7K Metals, starting from the background of the company to the very last detail, such as products, and other related information about this company. So, let’s get started.
What is 7K Metals?
Our first question is: Why is this company not transparent if it is a real company? Probably, because 7K Metals is simply a Ponzi Scheme. But, let’s set all judgments aside and take a look at the facts we know.
According to different sources, previously on the 7K Metals website, there was more information about who ran the company. Moreover, Sam Cook is pointed out as the CEO of this company. Further, the names Zach David, Richard Hansen, and Josh Anderson are also related to 7K Metals. In fact, Sam Cook and Richard Hansen are the people with extensive experience in management and the collecting process of various precious metals.
Meanwhile, Zach Davis and Josh Anderson are the big brains behind the looks of the company. But are these people real? The following information is from 7K Metals website:
❝ Zach Davis first learned the power of referral marketing as a college student. From his first experience in the industry to his most recent he has helped thousands of people realize their ability to make a more significant contribution to the world.
Josh Anderson got his first taste of network marketing at the age of 21. He was able to build a large team that focused on other people’s success. That team reached over 180,000 people in its first year.
In 2008 Josh influenced a new MLM company that in 120 days grow to 9,000 people, at which time Josh become the CEO of the company and lead the company to over 26,000 individuals. ❞
Imagine you want to build a legit multi-level-marketing company. Will you then post a text with many grammatical issues on the website that represents your entire company? You would probably hire an expert to write the bio, right? On the other side, if you are an underbelly scheme in the MLM realm, you probably wouldn’t even notice these mistakes, would you?
What Products Does 7K Metals Offer?
Currently, 7K Metals offers an interesting product line. However, there is something else that seems a little bit off. First, to purchase any of their precious metal coins, you will have to become a member. But to become a member, an Affiliate has to refer you to the company. In other words, you either have to know a person that is already a part of 7K Metals, or you have to ask around for such a person.
Second, the online storefront for coins and the fact that they sell only to affiliates for the company are not the oddest things. Once you have successfully joined their community, you have to pay a membership fee to be able to purchase anything from it. In other words, 7K Metals offers no products or services to retail customers. Which, on the other hand, means that all current affiliates have nothing else to sell to possible customers except the affiliate membership. Further, there are two types of membership. You can either pay $250 per year or pay a $75 upfront fee and $10 each month.
Furthermore, the third odd thing when it comes to their products is the product price range. Some precious metal coins are being sold for as little as $16.63. However, the most expensive item on their products list is worth $38,728.70.
Can you Make Money With 7K Metals?
If your goal is to make money by buying precious metals at a reasonable price and selling them for a higher price, well, that might be difficult with 7K Metals. As you want to make money from the difference between the price you paid and the price you sold the precious metal for, you are probably also looking for a company that offers better prices. Unfortunately, 7K Metals resells their products at a much higher value than other companies. In other words, this multi-level-marketing company might not be the right platform for you.
On the other hand, before even being able to buy anything from this company, you first have to pay the membership fee we mentioned earlier. On top of that, in the end, you will end up paying more money for precious metals than you would pay if you go to another company.
In fact, the only way to make money with this multi-level-marketing company is when you participate in the company’s referral program. The more people you recruit, the more commission, which means, the more money you will earn.
What Is The 7K Metals Compensation Plan?
Typically, most MLM companies use a binary system. Well, 7K Metals is not an exception. The company pays affiliates when they recruit other people. Also, the more people an affiliate recruits, the more money the affiliate receives. Further, with 7K Metals, both residual, as well as recruitment commissions are available.
Furthermore, the more activities a member finishes, the more points are generated. For example, the moment a new affiliate joins the company and pays an upfront fee of $250, a total of 100 points is generated within the binary. In other words, the person who has recruited this affiliate earns 100 points. Moreover, the more money this affiliate spends, the higher the rewards for the recruiter is. Simply said, more money spent, more coins awarded to the recruiter.
Also, at the end of each week, the amount of points is added upon each leg of the binary compensation plan. As we have heard, 7K Metals awards with $1,000 affiliates who have 500 points matched on each leg ( for every 500 points). However, the tricky part is that this is also the maximum amount of money that the company can pay affiliates per week.
Is 7K Metals a Scam?
Is this multi-level-marketing company the same as 99% of other MLM companies? Well, it is hard to tell. However, the lack of retail activity and transparency are making us think the company’s intentions are not pure.
Also, if you take the entire information written above into account, you will come to the conclusion that 7K Metals is a pyramid Ponzi scheme. And the company is using an affiliate-only product line to draw people into it.
Further, probably you won’t be able to make money due to the fees and the compensation plan they offer. It is more likely that you will lose money. So, based on everything we know about 7K Metals, we won’t recommend this company to anyone.
