7k Metals Review – Safe or Scam Investment?
Read our full review on this gold company
The best about 7k Metals
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Members may earn extra money by recommending other members.
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Annual costs are minimal.
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7k Metals offers members price discounts and commissions on sales.
Ready to Protect Your Retirement Savings?
7k MetalsBefore we get started with this review:
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It is difficult to pick a company you can trust with your hard-earned savings. We understand this, and that is why we create useful information to give you as much knowledge as possible before you make a decision.
To make comparing and choosing a company best suited to your needs as easy as possible, we have created a list of our highest recommended investment companies.
>>CLICK HERE to read our list of the top gold investing companies.<<
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7k Metals Review
7k metals is a multi-level marketing company (MLM) founded by the entrepreneurs Roger Ball, Zach Davis, Richard Hansen and Josh Anderson in 2016 and based in Idaho. A multi-level marketing program is a type of business where companies are allowed to sell their products or services through distributors or independent contractors. These contractors and distributors are compensated not just for the sales they make but also for sales made by other distributors they bring into the program.
With your first purchase of any previous metals through the 7k metals platform, you can join their MLM scheme and recruit purchasers in your network and by doing that, you will get your stipend for any purchase or sales they make to people they recruit.
This MLM model has been widely criticized as being a pyramid scheme, and while it is true that most MLM programs mostly need their participants to refer more members to their program, not all MLM programs are pyramid schemes. Some very legitimate MLM programs are very successful and have helped many careers succeed. This 7k metals gold IRA Review will show every aspect of the company and its products offered by the company.
7k Metals Review:
7k metals gold IRA was rated top at the 7k metals gold IRA review in 2021. It is a metal dealer that aid clients and investors create and maintain their precious metal IRA accounts. Although it is an MLM program, it offers exceptional services that are of good quality.
Review of 7k Metals: Overall Rating: 3/5
7k Metals Pros & Cons
Benefits
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In 7k metals, the members have an easy binary compensation plan that is simple to understand.
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7k metals give discounts on prices and commissions on its sales to members
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Members can make more money by referring more members.
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Tax-free treatment. You can invest in precious metals through a traditional or Roth IRA, but only the gold and silver options are tax-free. The other options are subject to ordinary income tax at ordinary rates, as well as a 30% excise tax on collectibles that aren't held for investment purposes (like art).
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Diversification benefits. With a self-directed IRA, you can buy anything that is eligible for investment, including stocks and bonds as well as real estate. And with precious metals, you have the added benefit of diversification against inflation and other risks.
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Low annual fees. While there are no annual fees associated with owning gold through an IRA, you'll pay transaction fees each time you sell or buy gold coins or bullion bars. The lower your purchase price, the lower your transaction fee will be—and with gold prices typically higher than most other investments, this may be a significant factor in choosing an IRA over buying gold directly from 7k metals' website if your goal is to earn interest on your holdings rather than just hold them as an investment account.
Disadvantages
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Membership fees are on the high side.
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With this MLM scheme, it isn't easy to make money.
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Buybacks are not usually guaranteed even though they are not denied
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Recruiting members to make money can take a lot of work.
7k Metals Review: Key Summary
| Experience | They are a young company, founded in 2016, with experience of less than a decade. Still, it has capabilities that surpass some older companies in the same business. |
| Website | Their website is really easy to understand and makes investing easier. |
| Client Education | They strongly believe that the client is the best when their clients are educated. So, they provide various educational resources on their website for easy understanding by potential clients. |
| Customer Service | They provide exceptional customer service as they aid you through the entire investing process. |
| Available Precious Metals Offers | They have precious metals available, including Platinum, Gold and Silver. |
| Physical Storage | The company provides storage and shipping, making work with them easier. |
| Other Available Investments | They provide added investments in U.S. and Royal Canadian mint coins |
| Annual Fees | Annual maintenance fees depend on the custodian you choose. There are several custodians to store with. |
| Trust Link Rating | Rated 5 Stars |
| Consumer Alliance Rating | Rated Triple A (AAA) |
The Bottom Line
7k metals gold IRA trades large amounts of precious metals and offers its customers direct storage options. They also provide educational materials for new clients to help them make quick decisions about their physical metal investments.
Product Range and Services
7k metals Gold IRA offers a wide range of Precious Metals like Gold, silver and platinum. This company allows its members to buy their products at a discounted price. They also provide discounts for shipping and purchasing storage for the metals you might buy from them.
The main aim of 7k metals through their mlm business models is to increase the financial security of Americans all around the world by giving them a chance to refer and increase their network. Then they give members a chance to sell their products at competitive rates and maintain peace of mind, making them know they are safe and well-protected no matter the situation.
7k metals Gold IRA Services
7k Metals is a top private safe company that uses a restricted point system.
They provide free silver, silver bullion, retail sales, warm market prospecting, Gold IRA, Silver IRA, 401 (k) Rollover, Traditional and Roth Planning, SEP IRA Planning, Simple IRA planning etc., services, and they sell precious metals like Gold, platinum and silver. They range from bars to coins and jewelry, which they can buy by piece or weight. They also provide shipping and storage options for most inexpensive precious metals, making the process easier and more convenient for investors.
Pricing
7k Gold IRA is great for money; their prices depend solely on the size and type of metal, finishing, and other customizations, like engraving. From $150, the price can go up for titanium rings. For example, rings with diamonds, sapphires, rubies or other Precious stones could cost up to $250.
7k metals Gold IRA costs/fees
The basic membership costs roughly 250 dollars per annum, while a premium membership costs roughly 450 dollars. A plan is attached to it for becoming a member of 7k metals, and it depends on the plan you choose. Like most MLM companies, it is free for those who would want to join the pyramid scheme. But for Gold membership, it costs at least 99 cents to sign up. For upgrading to a standard membership, it costs $1.99 to sign up for a total membership; the cost is 6.99, and your money will be refunded if you do not like the service after 30 days.
Minimum investment
The minimum investment in 7k metals business model is a sum of 250 dollars, which is the basic membership fee. While upgrading to premium, the minimum investment is 450 dollars per year. In premium membership, there are additional discounts you can gain access to it.
Customer Care
7k metals Gold IRA offers customized service and education; they have a customer service dedicated to offering their clients the best assistance they need through the investment process of purchasing precious metals. The representatives ensure their clients buying precious metals are aware and understand the options available and guide them in opening their own Gold IRA and other precious metals.
In order to show their good customer care, a large part of their resources has been dedicated to developing efficient customer care service and accessible educational resources. They feel like having good customer service determines the success of the business.
7k metals Gold IRA Educational materials
There are so many novices in the investment scheme, and there are comprehensive educational materials made available by 7k metals. On this mlm company website, you will find easy-to-understand front-end that contains knowledgeable information that is more than enough to aid the education of their clients.
On the 7k metals website, there are learning centres that provide important information about IRAs, retirement tools, MLM company products, investment resources and 401(k) fees. Additionally, they provide videos that explain and speed up the understanding process.
Company Reliability
7k metals Gold IRA has been in business since 2016, and according to the 7k metals gold IRA reviews 2021, it has proven not to be a scam, but a legit precious metal company and one of the world's leading distribution outlets. It was accredited by BBB in 2016, and its ratings remain till date. There are very few complaints about the company compared to a real scam. It has proven to be reliable, but you need to know many people with disposable income to gain financial freedom through this.
7k metals Gold IRA Company history and background
7k metals is a private safe company that operates an mlm business model. The network marketing company is among MLM companies that first started in Idaho in the year 2016. To make sales, they use the multi-level marketing model as salespeople who help promote, advertise and motivate people to sign up. Suppose you want to be a salesperson of their pyramid scheme; you must pay membership fees. Then you would be able to sell and make returns. The company's goal is to enhance the security of people all over the earth financially.
Customer Reviews
received a lot of positive feedback from their clients, who are content with their services. A lot of those reviews highlight their outstanding customer care service. Customers have reviewed their customer representative to be very professional, responsive to customer requests, patient with new customers, and transparent in their transactions.
7k metals Gold IRA independent 3rd party customer reviews
On independent 3rd party websites, 7k metals Gold IRA has also received several approval ratings;
Rated A+ with the BBB (Better Business Bureau), with an average star rating of 4.5/5 based on the reviews from 52 verified customers.
They are rated triple-A with the BCA (Business Consumer Alliance), with an average star rating of 5/5.
They have rated 4.9 stars on average with Facebook, based on the reviews of 47 customers.
They have rated 3.8 stars with TrustPilot, based on the reviews from only 2 verified customers.
They are rated at an average of 3.8 stars by google from 38 customer reviews.
Average star ratings
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BBB: A+
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BCA: AAA
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Trustpilot: 4.0
Money Metals Exchange vs the competition
7k Metals
Best Customer Reviews
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Gold, Silver, Platinum & Palladium
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$10,000
$5,000 non IRA
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80$
80$ Annually
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$100
Annually
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A+
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AAA
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None
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Gold & Silver IRA
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$25,000
$3,500 non IRA
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$50 + $30
$100 Admin Annually
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$150 Segregated
$100 Non Segregated
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A+
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AAA
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Get 10% back in FREE silver
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Gold, Silver, Platinum & Palladium
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$50,000
$50,000 non IRA
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$50
$200 Admin Annually
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$125
Annually
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A+
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AAA
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None
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Gold & Silver IRA
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$10,000
$2,500 non IRA
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$50
$180 Admin Annually
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Variable
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A+
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AA
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Free silver worth up to $5,000 on qualifying purchases
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Gold, Silver, Platinum & Palladium
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$10,000
$5,000 non IRA
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80$
80$ Annually
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$100
Annually
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A+
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AAA
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None
Alternatives to 7k Metals
If the cost of investing with the 7k metals Gold IRA is beyond your budget, you can consider the two cheaper alternatives below:
>>CLICK HERE to read our list of the top gold investing companies.<<
Alternative “Augusta Precious Metals"
Although Augusta precious metals are a cheaper alternative, they are considered good because of their rich educational services for new customers. They have more focus on the education of potential clients. They also ensure the investment option you are provided with is the best one for you.
Alternative “GoldCo Gold IRA”
Goldco Gold IRA is a gold and silver IRA company that offers a wide range of products and services to investors. Goldco Gold IRAs are a great way to invest in gold. With these IRAs, you can purchase gold with your money, which is an excellent way to diversify your portfolio. You will be able to gain exposure to the precious metal without having to buy physical bullion or deal with any of the hassles that go along with that.
Goldco also offers a variety of other investment options, including stocks and bonds. These investment options are available in addition to the Goldco IRA program, so if you want more than just gold exposure, you can still get it through this program.
How to invest in 7k Metals
To become registered and verified as a member of 7k metals, you will need a valid business license, proof of insurance and a sales tax resale certificate. However, your account with 7k metals will need to be activated before you can list any items available for sale on the site.
Do We Recommend Money Metals Exchange?
Although 7k metals stand out from its competitors in the precious metals industry, because it has a different strategy, the MLM scheme, becoming a member is a great option if you wish to make a few extra bucks as a precious metals dealer.
You would profit if only you were attracted to the process of multi-level network marketing, but if not, we suggest you refrain from using this company.
Our Verdict : 3/5
7k Metals' FAQs
What is the minimum investment for 7k metals Gold IRA Precious Metals Gold IRA?
Two hundred and fifty (250) dollars per year is the minimum investment.
What type of metals should I have with my 7k metals Gold IRA?
There are a variety of metals like Gold, silver and platinum to have with 7k metals.
When would I be qualified for the 7k metals Gold IRA distributions?
You’d be legally qualified for Gold IRA distributions when you are 72.
Is there a buyback there a buyback program for 7k metals Gold IRA?
Although it may take a while, there surely is.
What storage options do I have with 7k metals Gold IRA?
7k metals gold IRA provides storage options for their clients.
Why would I need a custodian to handle precious metals in my 7k metals Gold IRA?
The law made it compulsory to employ a custodian to manage the company’s precious metals.
Who is the custodian of 7k metals Gold IRA?
Go to the 7k metals website for their best custodian with a good rating.
How long will it take to roll over my IRA to the 7k Gold IRAs?
It mostly takes a working day to complete the rollover process, but because of delays, it may take longer. It took a little bit over 2 weeks.
