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7K Metals Reviews (2024 Update): All The Information About The 7K Metals Lawsuit

By: JosiahSep 26, 2023Network Marketing
7K Metals Reviews ([year] Update): All The Information About The 7K Metals Lawsuit

Are you happy with the number you see in your bank account?

Are you even making a profit?

After all, most businesses take at least a year to get out of the red and into the black, and plenty of companies never even take off altogether.

Every entrepreneur aspires to build a successful business – you know, one of those things where product sales continually flow out, revenue grows, and profits climb sky-high.

However, according to Forbes, 80% of businesses fail.

7K Metals, a MLM, is offering to help people to be in the forefront of making passive income via selling precious metals.

It’s innovative because it allows you to become an entrepreneur without performing any of the heavy work. There’s not even a need to guess what niche you should pursue in your new business.

There is no order tracking or delivery of product purchases. There is no need to find the best strategies. There is no need to draw in traffic. There will be no trial and error, only proven methods…

…at least that’s what these guys claim.

But is any of it true?

Let’s find out.

DISCLAIMER:

This 7K Metals review has been thoroughly researched with information and testimonials that are available to anyone in the public. Any conclusions drawn by myself are opinions.

PROS
  • 7k Metals has a variety of precious metals for you to choose from​
  • It's a member in good standing with the BBB​
  • The company has a good management structure​
CONS
  • Many of their low cost products are often sold out​
  • 7k Metals has an annual subscription fee​
  • You have to recruit family and friends

Why Listen To Us

My name is Josiah, and this is my Dad, Joel.why listen us

Together, we make up the team here at Scamrisk.

If you’ll let me bother you for two minutes, I’d like to quickly explain why I’m even here writing this review.

In early 2020, I had just graduated from college & had no real career prospects.

I knew I was destined for something more, but I had no clue how I was going to make it happen.

I had this sinking feeling in my gut all the time… like the “big man upstairs” had accidentally given me the version of life where I’d be mediocre forever, instead of the one where I was, ya know – happy & fulfilled.

Anyway…

I had fiddled around with some different online businesses in college:

Some random MLMs, a bit of affiliate marketing, a (failed) dropshipping store or two, all the usual suspects.

Even my dad had been involved in MLMs back in the day… selling knives & other random nonsense people (probably) didn’t need.

All I really wanted was to find something that was going to actually work for me.

Maybe those things had worked for others, but for me it all turned up a fat “0” in the bank account department.

So I searched! And searched… and searched… and searched…

And eventually, I somehow stumbled upon a program that promised to help me build an income online (read about it here if you’re curious).

I didn’t really want to be “rich”.

The thought of making a reliable $5K per month & not having to worry about clocking in to a 9-to-5 ever again was all I needed.

Sure, there were people in the program doing high-6 and low-7 figures per year… but that wasn’t what I was out for.

I just wanted to provide freedom for myself, and if I was lucky, take my family along for the ride.

Fast forward a few days and a few phone calls & I was enrolled!

Here’s the first “money making website” I put up:

why listen us gif

I built that site in 2020, and it still makes me $1,500 per month. It’s a basic 5 page website I built based on a template the program provides.

The best part to me? My dad and I get to do it all together!

So between the:

  1. Ease of reaching $5-$10K per month in income online

  2. Straightforward-ness of the system to do it

  3. Fact that I get to do it w/ my family

Is why I recommend local lead generation as my #1 business model for making money online.

Sure, it takes some work and dedication – but anyone that tells you that there’s a business out there that requires no work is selling you a lemon.

I’m not saying you need to sign up for the same program I did, but I would definitely recommend giving the business model a peek!

Chances are you've heard about 7K Metals because someone – a friend or family member – introduced you to the company. Maybe you attended an online workshop or webinar, or maybe an in-person information session.

Your head’s probably spinning. This might be the first time you’ve heard about a real way to make money outside of a typical job.

So first off, congratulations!

You’ve just entered a whole new world…the world of making money on your own terms.

However, you came in through the wrong door.

Because 7K Metals is – plain and simple – an MLM. Throw whatever fancy name you want on it…multi-level marketing (MLM), network marketing (NWM), direct sales, or anything else, it’s the same concept:

You pay some money upfront for the “opportunity” to sell products.

The products are typically low-quality but with high price tags.

You’re told that the key to building your own successful business is selling these products to friends and family, and getting them on a subscription (so you get “monthly recurring revenue”).

Unfortunately, like most people who get taken in by these types of schemes, you’ll quickly discover that the well runs dry faster than you imagined.

After all, they make it sound really simple. “Just get 5 people you know onto this magic widget, and things will just grow from there.”

And in your head, you think “How hard can it be? I know plenty of people, 5 will be easy.”

But then you do it, and you realize people look at you like you’ve joined a cult. You’ve become “that person”, who joined an MLM, and is now trying to sell questionable products or services to everyone they meet.

It puts a strain on your relationships, and you end up stuck between two worlds.

But it’s not your fault. These companies spend millions of dollars each year figuring out exactly how to brainwash and recruit people. And that’s why we’re here.

To help you find a better way before it’s too late.

Still Getting Paid

So, what if there was a way you could build a passive income stream that’s actually passive?

An income stream that doesn’t require:

  • Inventory
  • Selling to friends and family
  • Selling to strangers
  • Recruiting people
  • Dealing with questionable products that weigh on your conscience

An income stream that brings in consistent revenues every single month (from a couple thousand dollars to well over $10,000)?

An income stream you could actually build in your spare time, and grow as large or as small as you want to, without having to spend hours a day chasing, selling, or managing anything?

If that sounds like something you’d be interested in, check out Digital Leasing.

This is nothing like MLM, and that’s probably a good thing.

However, if you’d still like to know more about our 7K Metals Reviews, keep reading.

What Is 7K Metals?

7k metals review

7K Metals is a multi-level marketing (MLM) firm that centers on valuable metals and was established by Zack Davis and Josh Anderson. To purchase any of the company's products, one must be a subscribed member of the MLM. Apart from that, their mode of operation is comparable to that of other MLM businesses.

7k Metals was founded in 2016 by a group of network marketing company entrepreneurs from Idaho. They use the MLM model to provide membership packages to people who want to sell precious metals, silver and gold coins, bars, bullion and the like.

Zack Davis and Josh Anderson established the MLM scheme that centers on the acquisition of precious metals. To access the products, individuals must become a subscribed member and achieve weekly objectives to qualify for commissions.

That being said…

The goal of the company is to dramatically improve the circumstances of people all over the world who seek to improve their lives. 7K Metals is driven to give people the tools they need to create wealth and achieve financial freedom through gold, silver and other precious metals.

The men who got the ball rolling are:

  • Zach Davis
  • Richard Hansen
  • Roger Ball
  • Josh Anderson

We’ll cover these gentlemen a little later…

They strive to offer their members the most inexpensive metals by only charging their members their cost for these metals.

7K purchases these precious metals, like gold and silver, from the world’s leading distribution outlets for the least amount of money possible.

How Does The 7K Metals Compensation Plan Work?

7K Metals Compensation Plan

7k Metals is set up with what’s called a “binary” compensation plan. The way this works is that you make money when you sign up new members.

So, basically, think of this compensation plan as an upside down “V” with you at the top.

Pyramid-shaped…if you will.

7k Metals has a point system in order to determine how much you’ve sold:

  • The associate either signs up new members to cover their $250 annual fee or they pay it themselves (100 points)
  • The associate purchases coins with automatic delivery (25 points)
  • You make money from the coins purchased from the affiliates you signed up
  • 7k Metals only pays out on the least amount of sales you made
  • There are 2 commission plans centered on your team sales
  • You earn $500/week if your left and right sides have 500 points
  • You earn $1000/week if they have 1,000 points
  • Anything between 500-1,000 gets reset on the following week

So you only have a week to get over 1,000 points, or you start over.

What?!?

Yes, it’s in black and white right there in their compensation plan.

Of course you have to reach certain milestones in order to get a pay out from 7k Metals:

  • You need at least 25 points every month
  • Sign up at least 2 new members who have 25 points in a month
  • Finally, a matching bonus of 5% for anyone you sign up

If you hate the idea of recruiting and earning small percentages… Check out this business model.

Is 7K Metals A Pyramid Scheme? Insight On The 7K Metals Lawsuit

7K Metals Lawsuit

You cannot sell retail through 7k Metals. It would be ideal if you could get unaffiliated customers to buy precious metals. But it doesn’t work that way… you simply can’t purchase anything if you’re not a member.

So, it seems that the product is not their main focus.

In order to make money through 7k Metals, you have to sign up new members. This is where my “pyramid scheme” flags go up.

Basically, a pyramid scheme is defined as a company that persuades you to buy into the program to make money, not so much about selling its product.

But since 7k Metals does have decent products, like precious metals, then they are technically not a pyramid scheme.

Technically.

Check their rating on the Better Business Bureau for more information.

What Are The 7K Metals Products?

7k Metals Products The products sold through 7k Metals are:

  • gold coins
  • mint silver
  • platinum, gold and silver bars

This is the pricing breakdown:

  • Silver coins – $19-226
  • Gold coins – $162-1,945
  • Silver bars – $18.88/oz
  • Gold bars – $155/oz
  • Platinum bars – $966/oz

All the way up to $47,627 for a kilogram of gold.

7k Metals also has a wide selection of jewelry for you to choose from.

Also, 7k Metals has an agreement with a top private safe company so that you have a safe place to store all your collections.

Now, 7k Metals does allow you to shop their website for specific products at the member’s price, but you have to be a resident of the United States with a membership plan.

It goes without saying that you need to know a lot of wealthy people with disposable income to purchase these products for you to make money.

I just don’t think this is a long-term business plan.

Who Created The 7K Metals Program?

Who Created 7k Metals

Zack Davis

Davis and Anderson have the most experience with MLM companies. Davis was first introduced to network marketing when he was in college and since then has helped a lot of people reach their goals. He and Anderson have operated a separate MLM company called Black Ink International since 2011.

Richard Hansen

Hansen has been a network marketing veteran for the last 34 years and is experienced in collecting and mining precious metals.

Roger Ball

Ball is well-known as an entrepreneur. He was the owner of JD Premium, and he closed it in 2015. He was also a member of a company by the name of Paycation in 2012.

Josh Anderson

Anderson came across network marketing when he was 21 yrs old. He was able to build a team of over 18,000 people in his first year and in addition to that was able to build a team of 9,000 people in his first 4 months with another mlm company in 2008.

Soon after, Anderson was appointed the CEO of the company and grew the organization to 26,000+ members.

He was also CEO of JD Premium from 2009-2011, while Davis was CMO for the company. They primarily distributed personal care and nutrition products.

Can You Make Money With 7K Metals?

You’re paid out on a restricted point system for every 7k Metals product you sell. I really don’t like this because you simply don’t make much money by selling the product. It’s as if this was by design.

For each sale you make, you’ll earn 20 points, but you need 500 points in order to get a payout. So, given this type of compensation plan, I can see how very few if any people are successful with MLM.

Actually, almost 70-100% of members lose money with MLM. You can find in-depth statistics on the industry here.

Sadly, we couldn’t find any information as to whether or not 7k Metals members actually earn anything, and the company has yet to disclose that.

My guess is that very few people make money with the organization.

What About The 7k Metals Complaints?

Scam or Legit

So, what about the 7K Metals complaints or 7k Metals Lawsuit?

Well it's legit – even if people online are saying otherwise.

You can make money with this program, but building a successful business is definitely not as easy as they make it sound.

Now, there’s nothing wrong with front-loading the work and making the money later.

But if you’re grinding it out for 3 months, and then your reward is being forced to grind it out for another 9 months before seeing any “real money,” well…that’s not a great deal, is it?

Reminds me of those God-forsaken MLMs many of us have experienced…all hype and no substance.

What if, instead, you could do that same 3 months of work (in your spare time), and your reward was a $500 to $2,000 payment that came in every single month?

And what if you actually didn’t need to wait 3 months? What if you could get started today and have your first payment in a week?

And what if you could double it next week?

Well, that’s the power of Digital Leasing.

And you can legitimately do this from anywhere. It’s a true lifestyle business.

Your laptop and an internet connection are all you need.

Some of the most successful students in this program run their entire 6-figure businesses from:

  • A camper in the middle of the woods
  • A beach chair laid out on gorgeous white sands
  • A small villa in the Mediterranean

Saying Goodbye To Our Jobs

These people are able to travel around, living their lives first, and focusing on their income second.

Because even if they stop working for an extended period of time, the money keeps coming in – so adventure, memories, and experience are the top priority.

And they never have to worry about how to pay for the next trip, or consider asking for time off.

If this sounds more like the type of life you want to lead, just click here to find out more about Digital Leasing.

How Much Does 7k Metals Cost?

1. Members

It’s required of all members to choose either the basic or the premium membership fees. Below is the pricing:

  • Basic Membership: $249 / year
  • Premium Membership: $449 / year

2. Travel Card

You are also required to purchase a travel savings card from 7k Metals. Below is the pricing:

  • Basic Membership: $250
  • Premium Membership: $500

Supposedly you are able to get the “best travel deals” every month with this program.

Should You Join 7K Metals?

Well, 7k Metals is a network marketing company, so if you’re are OK with that, then you should investigate further. If you know a fair amount about MLM, then maybe this could be for you.

On the other hand, if you don’t like the MLM business, then I would stay away from 7k Metals.

Add to that the notion that if you have no interest in buying precious metals, I would take a hard pass.

Given the nature and expense of precious metals, it requires a high roller to purchase them.

Concerns About 7K Metals

1. The Cost

The market for precious metals is unpredictable, so invest at your own risk. On the other hand, Gold is Gold. So if the market drops, you can hold on to it… then sell it when the market goes up again.

But gold (and other metals) is still expensive, so be careful not to overdo it if you don’t have a large amount of money.

2. You Have To Sign Up As A Member To Buy Products

Their website does have a page that indicates the ability for “guest checkout”, but it’s a little misleading in that you can’t really buy metals as a “guest”.

Once you’ve decided on what you’re going to purchase, you have to provide the member’s name who suggested the site to you.

Ultimately, you will need to pay a membership fee to buy any line of products.

3. The Auto-Ship Program Is Mandatory

Whether you like a particular product or not, you’ll need to sign up for auto-delivery just to maintain the member status.

Now this may not be an issue if precious metals sell like hotcakes, but you’re likely to be stuck with unwanted inventory.

Sounds crazy, right?

Now you see why most members actually lose money.

4. Most Members Fail

As with most MLM companies, the vast majority of its members (upwards of 98%) typically fail or quit. And since 7k Metals is relatively new, I have a feeling that eventually their members will call it quits as well.

Now, if you can sell ice to an Eskimo and like MLM, then you may have a shot at succeeding…

But for the most part, the people that got in at the beginning are the ones who make the most money.

5. Products Exclusive For Members

Maybe it’s me, but only allowing members to buy precious metals from 7k Metals seems counter-intuitive. It just seems fishy if you need to pay a good chunk of money upfront for membership in order to buy anything else.

6. Very Limited Market

It goes without saying that the market for precious metals is small, maybe even shrinking given the current state of affairs… and 7k Metals confirms as much.

It’s simply not easy to sell gold and silver. People don’t buy them for the fun of it, it’s mainly for long-term profit. But how can you profit if the market is dwindling?

You could interest people in buying gold bars and precious metals, but will they actually buy them? To me, it’s sounds too risky, especially if you don’t know much about gold trading.

What Is Our Top Recommendation To Make Money Online In 2024?

Digital Leasing

Our review team has spent months researching, reviewing, and vetting dozens of business models and thousands of programs.

While there may be no “perfect business”, the research IS conclusive:

Digital Leasing is the #1 online business model for entrepreneurs.

Whether you’ve never made a dollar online, or you’ve been in this space for a while but never really “made it,” Digital Leasing is probably your best bet.

Why?

Frankly, I don’t think you can afford to make the wrong choice when it comes to your career in this day and age.

Have you seen inflation lately? You know, that thing where your money is worth less but your costs of living keep rising? You must find a way to overcome this strain on your financial life, and you can’t rely on others to do it for you.

“Relying on others to do it for you”…where have I heard that before?

Oh yeah, it’s 7K’s entire business model. Not good.

Whether you’re a man sick of living an average life, or a single mom seeking a new stream of income in order to stop the cycle of barely getting by…it seems clear to me that Digital Leasing is a great option to take control in today’s economy.

Let’s dig into the details:

1) It’s Flexible:

Got an hour a day? You can do this. Ready to drop everything else and dive in full time? You can do this.

Yes, the more time you put in, the faster you see results. But even with a little time each day, you can move the needle in a Digital Leasing business.

And because this system is so flexible, you don’t have to constantly be working to make more money. It’s called PASSIVE INCOME because if you stop working, the money doesn’t.

Imagine taking 3 months off to just tour around Europe, rent a cabin in the woods to write a book, hike the Appalachian Trail, or live on the beach and surf all day.

This is only possible if you have an income stream that’s not tied to your time.

JUMP ALL IN

2) You Own & Control EVERYTHING:

With MLM business models, you don’t own anything. With 7K you REALLY don’t own anything.

You don’t own the sales platform, you don’t own a brand, and you don’t own the customers.

Most MLM members lose money.

So…are you comfortable trusting these guys with your livelihood?

With Digital Leasing, you own the assets, which means you have all the power and all the control.

Feeling Blessed

3) Little To No Startup Costs:

It’s possible to get into Digital Leasing with zero dollars upfront. Because, using the strategies outlined in this program, you can get a client to pay you BEFORE spending a penny out of your own pocket…even before you do any work.

That said, I’m not going to lie to you and say you’ll never have to put any work in. That’s a red flag. You don’t get anything for free in this life…however, you can absolutely put work in up front that frees up your time and lifestyle as you stack success.

That’s the life-hack to sitting back and watching money roll in.

Even without getting paid in advance, you can have your first Digital Rental Property up, running, and generating profits for a much more efficient investment than MLMs – or even worse, taking out student loans.

Scott Lead Gen

4) No Wasted Time:

As mentioned above, spending tons of hours every day recruiting family and friends is a huge time commitment.

Plus, you constantly need to be hustling if you want to maintain your own business.

You need to spend even more money if you want to scale up. With 7K Metals you’ll always have limits on your time and freedom.

With Digital Leasing, a 100% online business, you never have to worry about that.

Lance Lead Gen

5) Easy To Duplicate:

Ok, here’s the best part: once you have your first Digital Rental Property up and running, you can literally DOUBLE your income with a few clicks, a couple keystrokes, and a single phone call.

Remember: each Digital Rental Property is worth $500 to $2,000 a month in semi-passive income (over 95% profit). Every time you decide to create another one and increase your income, it gets easier.

How does it get easier?

Because you have more knowledge, more experience, more results, and more momentum.

If you wanted to double your income with MLM, you’d have to double your time investment OR your profit margins. And it doesn’t take a rocket scientist to figure out that’s a lot harder than a few clicks and a few minutes of your life.

Done Deal

6) Make Money Helping Real People:

This part is what makes it all worth it. 7K Metals is a decent way to make yourself money, but it doesn’t improve anyone else’s lives.

After all, there’s always someone else selling coins. That might be fine in the short term, but in the long run you may feel like you’re missing a purpose.

Don’t even get me started on MLMs, where your friends and family become the product…I’m sure many of you reading have been through that sort of “bait and switch” nonsense before.

You know the type – they promise a living wage, then you’re only on commission for a sketchy product.

With Digital Leasing though, you’re actually helping people by solving your clients’ biggest problem:

Small, local businesses need more customers, and with Digital Leasing, you are unleashing a flood of happy, paying customers for these businesses.

You make money by helping them make money.

Not some big, faceless corporation either…a small business owner who’s using that money to put food on the table for their family, start a college fund for their kids, or take care of a sick parent.

Once you see how Digital Leasing makes a real impact in the lives of real people, you’ll see what I mean.

BOSS OF MY FUTURE

Now, the choice is yours. You could continue browsing, looking at opportunities like MLM which could one day make you money…

…you could continue researching, never making a decision

OR, you could take a look inside, consider what you really want, and join a program that makes your dreams a reality.

At the same time, you’re joining a community of over 2,000 successful students that are living life on their own terms thanks to Digital Leasing.

A consistent, reliable, semi-passive stream of income that doesn’t depend on you or your time to keep producing profits? It’s as good as it sounds.

All while genuinely helping real people who are grateful and happy to pay for it.

If this sounds more like what you want out of life (or if you just want some nice side income), click here to learn more about Digital Leasing.

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