My Gold Rush USA entered into the gold coin MLM market during the last week of October 2010. This launch adds to the numbrer of companies seeking to get a foothold in the gold and silver coins segment of network marketing.
Members pay a $100 annual renrollment fee fro My Gold Rush USA, with no additional monthly fees. Members have the option to purchase a 1 oz. American Gold Eagle coin each month at the current Wall Street Journal advertised price. This purchase also gives the member 10% in gold rewards. When the amount of gold rewards equals the advertised 1 oz. American Gold Eagle price, the member can redeem their points for a free American Gold Eagle.
Members of My Gold Rush USA also receive a full set of marketing tools including video presentation, autoresponder, coded website and 100 free leads. The company also provides a sizzle call for prospects and regular webinar events. Commissions are paid daily in either cash or gold.
The company operates on a 5 phase 2 x 3 matrix plan. This means that you have 2 people on your first level, 4 people on your 2nd level and 8 on your third level. Once these 14 sales have been achieved, you complete a cycle. The Phase 1 bonus occurs the first time you complete a cycle the bonus is $100 and then it jumps to $500 with each new cycle. The Phase 2 bonus is $500 and jumps to $5,000 with each new cycle. The Phase 3 bonus jumps is $5,000 and jumps to $20,000 on each additional cycle. The Phase 4 bonus is $20,000 and increases to $100,000 on each additional cycle. The Phase 5 bonus is $1,000,000 on the first and each additional cycle. All new personal sales, team sales and upline spillover are placed into your Phase 1 matrix.
In reviewing the My Gold Rush USA website I immediately came away with some red flag issues.
The first of these issues was the lack of contact information. There is no company home address, no contact phone number or other means of communicating with the company. I believe that transparency and distributor support are critical issues for any company that a prospective representative. My next concern is on the pricing of the gold coins themselves. The advertised price in the Wall Street Journal is not the authoritative benchmark for gold and silver, I feel it is best that the company be able to provide some pricing guidance. With gold currently going for nearly $1,400 per oz., few people will be able to take advantage of the asset accumulation portion of this program. The reality is that most people will simply be investing $100 hoping to find others who will spend $100, but they will have little participation in the actual accumulation of assets. It would appear from the companies compensation information that no commissions are paid until the 2 x 3 matrix has cycled.
In looking deeper at My Gold Rush USA, I believe that there are better options for those who are serious about building a business with a gold and silver network marketing company.