7k Metals

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7k Metals

2235 E. 25th Street Suite 290
Idaho Falls
ID 83404

(208) 502-0982


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From the 7k Metals website:

7k Metals provides a better way to purchase precious metals. Through our Membership, you have immediate access to AT COST pricing on Gold and Silver US Eagles, Canadian Maple Leafs, premium or generic bullion bars and more!

The 7k Metals approach to servicing our customers is unique. We provide a way for people of all walks of life an avenue to obtain the most sought after products in history at the best possible price. It’s that simple.

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Services / Products Available

availabilityE-commerce facility
availabilityBullion Bars
availabilityBullion Coins
availabilityNumismatic Coins
availabilityInvestment/Retirement Vehicles

Company Trust Rating

Company established: 2016
Employees: 100+ (inc. agents)
BBB rating: N/A
Other online reviews: A
Bullion.Directory rating: A

Company Alerts

We are not aware of any alerts concerning this company.
 

In a Nutshell:

7k Metals are a new bullion and coin dealer offering what is so far a unique proposition within the precious metals market – a wholesale buyers club – where members pay an annual fee ($250 at January 2017) to access wholesale priced metals.

Where ordinarily dealers make a very small premium over spot on bullion, the 7k Metals model front-loads this into a membership fee where provided you buy bullion in any quantity over a few bars or coins annually, you could see significant savings over standard pricing model bullion dealers.

7k also offer a revenue sharing program where members can promote the company to earn an income – and they claim this promotion can produce a good side income for participants.

 

7k Metals Review – Pricing In More Detail

Ignoring the 7k Metals business opportunity which is outside the scope of this site, we’re most interested in their wholesale pricing. Looking at their retail offerings it’s immediately apparent that on generic bars and rounds, premiums over spot price are significantly lower than any of the bullion dealers we use in our bullion price comparison tables.

For example on 10oz generic silver bars or generic 1oz silver rounds, prices are cents over spot. The same is true for 1oz generic gold bars (they don’t offer larger gold bars) where premium is less than 1% – ie true wholesale pricing.

Our price comparison tables see an average of $30 over spot for 1oz gold – against 7k Metals’ $10 over spot suggesting that providing an investor were to buy over 12.5 oz of generic gold bullion annually they would be better off taking advantage of membership. Looking at our average chart premiums for 1oz silver, membership would be paid in savings after as little as 50 x 1oz generic silver coins.

Numismatic coins see greater savings – but are more of a specialist field – and as always we do not recommend numismatic purchases for non-expert investors.

Is 7k Metals membership worthwhile? Yes, but only provided you are buying over 50oz silver or 12.5oz gold annually. Membership also allows entry to their business opportunity which is a form of gold affiliate program combined with an MLM scheme.

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