What is 7k Metals?7k Metals Locations, Timings, Email, Phone, Services
7k Metals is a multi-level marketing (MLM) company that sells precious metals, including gold, silver, platinum, and palladium. The company was founded in 2016 by Roger Ball, Josh Anderson, Zach Davis, and Richard Hansen.
7k Metals members can buy and sell precious metals at wholesale prices. They can also earn commissions by recruiting new members and selling products. The company's compensation plan is based on a point system. Members earn 20 points for each product they sell, and they can earn bonuses for recruiting new members.
7k Metals has been criticized for its MLM business model. Some people believe that MLM companies are a pyramid scheme and that members are more likely to lose money than make money. However, 7k Metals claims that its business model is legitimate and that members have the opportunity to make a profit.
- Address: 3640 South Yellowstone, Idaho Falls, ID 83402
- Phone: (208) 314-2587
- Email: [email protected]
- Website: https://www.7kmetals.com/home
People Behind 7k Metals: CEO, Owner, Co-Founders & MoreWho owns 7k Metals? What is the management team behind 7k Metals?
Zack Davis:
Zack Davis, along with Anderson, boasts a wealth of experience within the realm of MLM companies. His introduction to network marketing occurred during his college years, and since then, he has played a pivotal role in aiding numerous individuals in realizing their aspirations. Collaboratively, Davis and Anderson have been at the helm of their own multi-level marketing venture, Black Ink International, since 2011.
Roger Ball:
Roger Ball stands as a recognized entrepreneur in his own right. The creation and ownership of JD Premium were attributed to him, a venture he ultimately divested in 2015. Notably, he was also an integral part of Paycation, a company he contributed to in 2012.
Transparency is Important
Richard Hansen:
Richard Hansen brings to the table an impressive 34-year journey entrenched within the network marketing arena. His experiences span not only networking but also the intricate world of collecting and mining precious metals, adding a unique facet to his skill set.
Josh Anderson:
Josh Anderson's involvement with network marketing commenced at a young age, at 21 years old. His initial year garnered an impressive cohort of over 18,000 individuals, and within his first four months with another MLM in 2008, he attracted 9,000 more. His rapid ascent led to him being appointed CEO, overseeing the growth of the organization to encompass more than 26,000 members.
Between 2009 and 2011, Anderson served as the CEO of JD Premium, with Davis holding the role of Chief Marketing Officer. During this period, their focus centered predominantly on the sale of personal care and nutrition products.
Collective Leadership:
When evaluating the leadership structure of 7k Metals, it is evident that their leadership team boasts a substantial accumulation of experience and expertise. With their diverse backgrounds in network marketing, entrepreneurship, precious metals, and product sales, the 7k Metals leadership demonstrates a well-rounded blend of capabilities.
7k Metals Products: Bullion Coins, Bars, And Rare CoinsAll products offered by 7k Metals
7k Metals offers an array of five distinct product categories for its members to explore, each catering to precious metals enthusiasts:
Gold Coins & Bars:
Members can acquire a range of gold coins through 7k Metals, allowing them to diversify their holdings with this precious metal. For those inclined towards gold bars, the company presents a selection of options to consider.
Silver Coins & Bars:
The company provides opportunities to purchase various silver coins, giving members a chance to invest in the ever-popular silver market. Similarly, members interested in silver bars can explore different sizes and designs to suit their preferences on its website.
Platinum Coins:
7k Metals extends its offerings to include platinum coins, adding another dimension to the precious metal investment landscape.
They offer various types of jewelry, such as:
- Rings
- Necklaces
- Earrings
- Bracelets
- Watches
Among the notable options within their product range are:
- Ancient Greece Alexander The Great Gold Coin – $129.99: A historic gold coin from Ancient Greece, available for collectors and investors alike.
- Antiques St Helena Pegasus 1 oz Silver Coin – $189.99: A silver coin featuring the iconic Pegasus design, offering a unique addition to one's collection.
- Daydream Future 2 oz Silver Coin – $299.99: A distinctive 2 oz silver coin, possibly carrying a thematic or artistic appeal for collectors.
- Real Heroes FireFighter 1 oz Platinum Coin – $3,299.99: A premium platinum coin celebrating the heroic efforts of firefighters, appealing to those seeking a valuable and meaningful addition to their portfolio.
- Australian Kookaburra 1/10 oz Platinum Coin – $144.99: A fractional platinum coin featuring the renowned Australian Kookaburra design, allowing investors to own a smaller piece of the precious metal.
Aside from these offerings, a comprehensive exploration of their website unveils an extensive selection of products available for members to both purchase and sell. Notably, they even extend their range to include jewelry items such as gold necklaces and silver earrings, catering to those with a preference for wearable precious metal pieces.
However, a closer examination of the price points highlights that the affordability of these products might be a concern. It appears that access to influential and affluent circles could be necessary for effectively selling these high-priced items. This raises questions about the sustainability of their business model, particularly when considering 7k Metals' stated mission of providing tools for financial freedom through gold, silver, and precious metals investments.
How to Invest in 7k Metals IRA?Step-by-step guide for investing in 7k Metals IRA
To invest in a precious metals IRA through 7k Metals are the general steps: Open a Self-Directed IRA Select an IRA company that handles opening precious metals IRA accounts and fill out an application. You can work with 7k Metals to recommend an IRA company and provide the necessary paperwork. However, I don't recommend doing so.
Fund Your IRA Once you have selected an IRA company, you can move your funds into your new IRA account. You can work with the IRA company representative to transfer or rollover funds into the new account.
Select a Precious Metals Dealer One of the forms you need to fill out along the way is typically called a Buy Direction Letter. This is where you list the precious metals dealer you have selected, such as 7k Metals.
Decide Which Precious Metals to Purchase You can choose to invest in gold, silver, platinum, or palladium for your IRA. There are some restrictions regarding fineness requirements and allowable coin types, so getting guidance from 7k Metals in this area is important.
Place Your Order Once the funds are available in your IRA account, you can call them to order the desired precious metals.
However, I don't recommend opening an IRA with 7k Metals. Why? Because there are plenty of better options available for you.
Opening a precious metals IRA is a major decision. That's why I suggest checking out our top gold IRA providers list. There, you can find the best precious metals dealer in your state and choose accordingly.
Also, the list will help you understand what the industry's best has to offer and what you might miss out on.
On the other hand, you can get a free guide on gold IRAs below. It will help you understand the process:
7k Metals Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?
Becoming a member of 7k Metals involves two distinct types of fees: membership fees and a travel savings card.
Membership Fees:
When considering 7k Metals membership, there are two tiers available: basic and premium. The basic membership entails an annual fee of approximately $249. For those seeking a more comprehensive membership experience, the premium option is slightly higher in cost, amounting to approximately $449 annually.
Once a member, access is granted to the Buyer’s Certification Program. This comprehensive program equips members with essential knowledge about purchasing gold and silver. It covers various aspects, such as determining the most suitable precious metals based on the individual's buyer profile and offering insights into different purchasing strategies.
Travel Savings Card Costs:
In addition to the annual membership fees, individuals interested in enjoying travel benefits via the 7k Metals platform must obtain a travel savings card. The pricing structure for this card is outlined as follows:
- Basic Membership Travel Savings Card: Priced at $250, this option provides access to travel deals, catering to those looking for cost-effective travel options.
- Premium Membership Travel Savings Card: Offered at a rate of $500, this card enhances the travel experience with more extensive and potentially exclusive travel opportunities.
Both cards offer access to a range of travel deals, striving to provide members with appealing options for their travel needs.
In sum, the 7k Metals membership structure encompasses membership fees and an additional travel savings card expense. The basic and premium membership options cater to various preferences, providing access to valuable resources and opportunities within the precious metals and travel realms.
Companies like Augusta charge ZERO fees for up to 10 years, allowing you to choose your gold & silver. 7k Metals on the other hand provides fewer options.
>>>Get in touch with the #1 rated gold IRA company of 2023
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