Silverchief Mint Review: Silver ruse pyramid scheme
Silverchief Mint operates in the precious metals MLM niche.
The company is based out of South Africa and headed up by founder Brandon Marriott.
Prior to founding Silverchief Mint, Marriott was promoting WorldVentures.
Read on for a full review of Silverchief Mint’s MLM opportunity.
Silverchief Mint’s Products
Silverchief Mint has no retailable products or services, with affiliates only able to market Silverchief Mint affiliate membership itself.
Silverchief Mint’s Compensation Plan
Silverchief Mint affiliates sign up and pay a fee. Commissions are paid when they recruit others who do the same.
Note that while Silverchief Mint operates from South Africa, for some reason the compensation material cited in this review is pegged to the UK’s pound (£).
For reference, Silverchief Mint do not provide a copy of their compensation plan on their website.
Recruitment Commissions
Silverchief Mint affiliates receive £50 GBP per affiliate recruited.
Residual Commissions
Silverchief Mint pays residual commissions via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.
Rather than pay residual commissions based on individual binary team tree placement, Silverchief Mint pays a fixed residual commission based on personal recruitment efforts.
- generate a binary team with four affiliates on both sides(4/4) and receive £50 GBP a month
- generate a binary team with ten affiliates on both sides (10/10) and receive £250 GBP a month
- generate a binary team with twenty affiliates on both sides (20/20) and receive £500 GBP a month
- generate a binary team with fifty affiliates on both sides (50/50) and receive £1000 GBP a month
- generate a binary team with one hundred affiliates on both sides (100/100) and receive £2000 GBP a month
- generate a binary team with one hundred and fifty affiliates on both sides (150/150) and receive £3000 GBP a month
- generate a binary team with three hundred affiliates on both sides (300/300) and receive £6000 GBP a month
- generate a binary team with six hundred affiliates on both sides (600/600) and receive £12,5000 GBP a month
Joining Silverchief Mint
Silverchief Mint affiliate membership is £100 GBP and then £50 GBP a month.
Conclusion
Silverchief Mint markets itself as “a silver commodity company based in South Africa”.
In reality it’s a simple “pay a monthly fee and get paid to recruit others who do the same” pyramid scheme.
The ruse behind SilverChief Mint is the purchase of of silver. There might be some convoluted way to actually purchase silver through Silverchief Mint, but why bother when you can just cash out.
This is how the precious metal pyramid model works. The metals are a ruse for recruitment commissions, which when combined with MLM defines Silverchief Mint as a pyramid scheme.
There also might be an investment fraud component within Silverchief Mint:
The above slide is taken from Silverchief Mint’s compensation presentation.
Details of the investment opportunity are not explained. Nor is there any information on Silverchief Mint’s website.
That alone is a red flag, let alone the core of Silverchief Mint being a pyramid scheme.
Being a monthly fee pyramid scheme, when recruitment dies down those at the bottom of Silverchief Mint will eventually stop paying their monthly fees.
This will see those above them stop getting paid, and eventually stop paying their monthly fees too.
Once this trickles up far enough Silverchief Mint’s affiliate-base, an irreversible collapse is triggered.
Although he’d likely be loath to admit it, this is precisely what would have happened to Brandon Marriott’s WorldVentures’ business. And so here we are…
Like Silverchief Mint, retail is not the primary driver of revenue in WorldVentures’ business model.
The take-away for potential Silverchief Mint affiliates? The math behind pyramid schemes guarantees that the majority of participants lose money.
Update 3rd March 2021 – As of March 2021 Silverchief Mint has collapsed.
As at the time of this update, Silverchief Mint’s website has been pulled offline. The company’s official YouTube channel has also been deleted.
Update 21st December 2023 – Brandon Marriott is back with IFXT Prop, a forex trading scheme.
IFXT Prop pitches passive returns of up to 10% a month, through automated trading on accounts funded up to $4,000,000 (not a typo).
Despite offering passive returns, IFXT Prop isn’t registered with a financial regulator in any jurisdiction – namely South Africa, where IFXT Prop and Marriott are based.
As far as I can tell IFXT Prop doesn’t have an attached MLM opportunity, so no formal BehindMLM review.
I am the owner of the company. The Views and understandings expressed above are incorrect and also defamatory, we are a fully licensed and operational company.
We are members of the DMA of South Africa and have started our process of application with the DSA. We are fully compliant & up to date with all our VAT with SARS and we comply with FIC regulations. We have also been to the FSCA for regulatory purposes.
The above post is a direct attack on the company which is running into its second year of successful operation with no default in payments.
Our company is fully sustainable We are also fully audited. Commissions are derived on the sale of products.
The facts expressed above are incorrect, please use correct company documents and view or company approved business model slides.
The presentation slides you are using are also not company approved. For all I know this could be a direct attack from you the publisher.
This is a harmful attack and one of defamation of my company. I would seriously suggest removing this post. I will gladly defend Silverchief and it’s sustainable business model in the court of law and I will gladly sue for damages a post like this can cause.
Contact us immediately at (removed) to get full details on our company before giving a full review. We will not accept this sort of publication.
Facts, by nature of being facts, are not defamatory.
Whether your pyramid scheme is licensed or operational is neither here nor there.
Affiliate membership isn’t a product and pyramid schemes aren’t sustainable.
That’s nice. Feel free to point out any inaccuracies.
I removed the word “official” from our citing of the presentation, just to give you the benefit of the doubt.
Nonetheless the video in question was uploaded to YouTube two months ago, on a channel bearing the name Silverchief Live Global.
Considering you sent BehindMLM legal threats within hours of our review going live, clearly you don’t have a problem with the presentation.
You contacted me by email with similar threats, to which I replied:
Instead of pointing out any false information, you published the above comment.
As at the time of me writing this, you have failed to point out anything that would suggest SilverChief Mint isn’t a pyramid scheme. Not off to a good start.
Also is your name Brandon Marriott or Thomas Marriott? You deleted your original comment as Brandon Marriott and reposted it as Thomas Marriott.
These are always funny to watch.. Scammers threatening, but can’t really answer despite asking numerous times WHAT SPECIFICALLY was so fundamentally wrong in the review.
Always the same.. 😀
Yeah, any other owner would make an effort to set the record straight to clear up some issues, and point out what makes them better than other companies in the gold and silver coins MLM niche.
For the record I didn’t receive anything further via email. Nor has Marriott left any further comments.
SilverChief as a company does look very interesting from an investment perspective purely. Their product is Silver granuals sold by the KG.
You can purchase them outright and have it shipped to your house, or silverchief will store it for you in a safety deposit box.
I don’t personally have any silver with them but do know many people who purchased through them and use their vaulting services and are very happy with the service provided.
The MLM is a way to build a business and earn a commission purely on the silver purchases from your downline.
I am unsure why this was not mentioned?
I have watched many of their presentations online and the purchase and vaulting of silver was always the focus.
I try to be as un-bias as possible, just prefer that both sides of the story get shared.
Cheers guy’s.
Joel
The silver? Because the silver has nothing to do with the MLM side of the business.
I sign up, pay a monthly fee and recruit others who do the same.
That has nothing to do with silver and is a pyramid scheme recruitment model.
According to their business model. A sign-up is a purchase of an ounce (don’t know the exact weight) of silver. Which is either shipped to you or you can have it vaulted.
Commissions are paid from the silver purchases of affiliates you introduce.
So if is not a pay a fee to sign-up and recruit others as you say but your sign up fee is actually your first purchases of silver and monthly purchase of silver is required to keep you as an affiliate who can market the company’s silver minting to others.
The whole model is built on silvers potential rise based on the current boom in precious metals.
I am not an affiliate but have been studying their model because of my interest in silver which is not mined in my country
The way the precious metal pyramid schemes work is you sign up and pay a fee. You get paid to recruit others who do the same.
Nobody takes delivery of gold, it’s all “vaulted” (read: extra payment when affiliates cash out).
Bundling a product/service to affiliate membership fees doesn’t change the pyramid nature of the business.
That’s your problem. You’re not seeing the facts, but their REPRESENTATION of facts, which is biased.
Pyramid scheme go boom. I got a heads up that the YouTube video I’d linked to in #2 has been removed.
Turns out Silverchief Mint has pulled the plug on their website and official YT channel. #RIP
Actually Kind Sir,
I have legally sold the company.
Secondly, all VAT / taxes have been Paid, aswell as all commissions and everyone’s silver has been accounted for & delivered to our clients from the vaults.
(All the clients still have their buy Back Guarantees in place with the refineries. I’m still here and I’m definitely not running away from anyone. The entire client base has my contact info & THEY ALL KNOW they can contact me at anytime or my staff.)
Your reviews and conclusions about companies are negatively BIAS on this website.
From myself and on behalf of all the other legitimate business owners that you’ve tried to intimidate / defame & incur irreparable damages too, this is what I have to say…
Your opinion / review does not matter. You have failed miserably in your attempt to defame me & the the company. With regards to your review of the company. You are so far off from the truth and the actual corporate business model, I find this review funny to read.
All you had to do was ask and I’d have sent you the actual copies of the complete business plan, or you could’ve just downloaded it off our website…
My morales and standards go well and way beyond an individual like yourself and your Bias cronies.
I am proud of the company that I created, I am proud to say Silverchief Mint was / is a great success. I am also looking forward to seeing what the new prominent owners in the industry bring to the table with the expansion of the company.
I am T.B Marriott & I have nothing to be ashamed of. Especially, not after a pathetic review like this.
Get your facts straight.
Kind Regards.
#RIPBEHINDMLM
#CLICKBAIT
#WASTEOFTIME
Scammer meltdowns = always funny
Lol, sold your failed pyramid scheme to who?
Website gone, pyramid scheme collapsed, butthurt admin… *munchmunchmunch*
@Brandon Marriott, you really are new at this aren’t you. Fist you claim to be speaking on behalf of all the other “legitimate” business owners, which you include yourself, and then in the next breath you claim Oz has failed miserably in the attempt to defame you and your company. Which is it?
Who gave you permission to speak on behalf of “ALL” the other “legitimate” business owners? Surely you don’t mean all the “legitimate” companies that have been outed as Ponzi’s or illegal pyramid schemes here; and have been proven to be exactly what the review has said they were.
As for failing miserably to defame you, the review wasn’t about you. It was about your fake company that was nothing more than a wannabe pyramid scheme.
But I will give you credit for not trotting out the standard if you don’t take down the review I will have my attorney sue you for slander BS others claim.
At least your company didn’t incur irreparable damages or you wouldn’t have been able to sell it as you claimed. Which makes your initial claim that, and I quote:
false since his review did not cause your company irreparable damages. Hmm, that means his reviews do not cost ALL companies irreparable damages.
Hard to keep your story straight isn’t it. But thanks for the laugh.
Well, Oz, I just hope you’ll do the right thing and correct all the things that Marriott pointed out you got wrong.
All those specifics that were incorrect in your original review. So, so many things wrong, I can’t even count them. Let’s see, there’s, um….. uhhh….. gimme a minute….
Yes,this entire comment was a waste of time,these were the only accurate lines – if you meant to self-flagellate.
For relevance,has Oz ever had to publish a retraction/apology or had a Ponzi-MLM turned out to be an actual life-changing opportunity for world-peace and love and unicorn farts everywhere?
Between readers and company owners the few times I’ve misread something it’s been corrected – usually within 48 hours.
These are usually compensation plan misreads or a company screwing up its documentation. I haven’t retracted or apologized for a Ponzi analysis.
Although it’s not an absolute rule, based on my 12 years experience there’s a reason I push MLM + securities = Ponzi scheme.
Thought as much, so in the grand scheme of things your greatest errors were minutiae. Not if it’s a scam.
Kids, take a lesson from this, Oz hasn’t been wrong yet and doesn’t automatically call every MLM a scam, though I personally feel that distinction is generous.
I’ve been enquiring about the silver vaults, apparently silver chief mint vaults don’t exist with Knox vault and I bought silver worth R10k and no one is giving directive of how I should access my bought silver from Mr Marriott.
and the offices are closed down and no one to account for this… please help, I need my money or the silver I bought.
You invested in a pyramid scheme and your money is gone. Sorry for your loss.
I see he has registered another company which is probably his home so maybe go there and ask him for your money.
The new company (probably another pyramid scheme) is called “Institutional Forex Traders” and is at (removed).
I came across this cat years ago while he was in Hong Kong, he cannot go back there and if he enters the USA he will have questions to answer.
Is that address available via public record?
This guy has started another pyramid scheme called IFXT Prop.
Review updated to note Brandon Marriott’s involvement in IFXT Prop.