As required by law, all sales of Bullion are non-refundable. However, 7k Members can offer Bullion to 7k for purchase or buy back at the then current market buy-back price (“Bullion Buy Back”). Additionally, 7k occasionally purchases other coins from its Members.
(a) To request a Bullion Buy Back, contact and notify Customer Support at support@7kmetals.com for an RMA and instructions on the Bullion Buy Back process and how to ship the Bullion to 7k.
(b) 7k reserves the right to cancel or reject a Bullion Buy Back for any reason at any time during the transaction, up to finalization of the Bullion Buy Back process and
payment to the Seller.
(c) Shipping the Bullion to 7k for a proposed Bullion Buy Back constitutes a proposal and offer to sell at the current market buy-back price. There is no contract or transaction unless all of the following conditions are met:
(i) 7k has received and is in possession of the Bullion,
(ii) 7k has inspected the Bullion to ascertain type, quality standards, and quantity of the Bullion received,
(iii) 7k has made an offer to Buy Back the Bullion, and
(iv) The Member has accepted the 7k offer in writing.
(d) All risk of loss in a Bullion Buy Back transaction is borne by the seller, until 7k takes physical custody and control the Bullion that is the subject of the Bullion Buy Back
proposal.
(e) Contact 7k via email at support@7kmetals.com to provide 7k with a tracking number to confirm that the product is enroute. 7k Members are responsible for all costs related to shipping and insuring Bullion products while in transit to 7k. The Bullion Buy Back price will not be assigned to the RMA until it is received at 7k’s Corporate Office.
(f) Upon receipt of the RMA items, 7k will inspect and confirm the quality, quantity, and accuracy of the return, and 7k will then assign a current market buy back price. If approved, 7k will send payment within seven to ten business days as follows:
(i) For RMAs of less than $5,000.00 USD:
- Check sent via priority mail (customer must pay the priority fee of $7.95 USD, which will be deducted);
- Check sent via first class mail ($5.00 fee); or
- Funds sent by ACH ($3.00 USD fee)
(ii) For RMAs of $5,000.00 USD or more include:
- Any method provided in section (i) above; or
- Bank Wire (customer/Member will bear the priority fee of $25.00 USD, which will be deducted from the payment);
(g) The offered Buy Back price is good for 48 hours and if accepted in writing by the Member, there is a binding contract and the Member shall have no right to cancel. If not accepted within 48 hours, the Member has rejected the offer and any future offer price is subject to change depending on the spot/market price. Any market gain on a Bullion Buy Back or Buy Back cancellation inures solely to the benefit of 7k.
Buy-Back Price is always less than current retail price. There is a likelihood of loss for a Bullion Buy Back processed for a recent purchase of Bullion, if the offered 7k buyback price has not grown to be greater than the original retail purchase price.
(h) If a member cancels or fails to timely accept the Buy Back, the customer/Member must pay 7k’s shipping charges for return of the Bullion. In addition, 7k may charge the Member a $35.00 USD cancellation fee plus any Market Loss incurred by 7k.