Lear Capital Review

Wall Street’s ups and downs hit my retirement account hard last year. I watched helplessly as my 401(k) shrank overnight.

This brutal reality pushed me to find alternatives, leading to this Lear Capital review. For over 25 years, they’ve helped Americans shield wealth through precious metals while others lost everything.

I’ve examined their gold IRA offerings, customer service, and industry standing to see if they’re worth your trust.

Continue through my findings to discover if Lear Capital should be part of your financial strategy before the next market crash arrives.

About Lear Capital: 25+ Years Selling Precious Metals

Lear Capital has been selling precious metals for over 25 years. They help people buy physical gold, silver, and platinum, including for retirement accounts. They’ve been around through different economic times, so they know a lot about the precious metals market.

The company gives each customer their own helper to guide them through buying metals. These helpers learn about what you want and try to give advice that’s right for you. They also teach you about precious metals and what’s happening in the market to help you make good choices.

What You Can Buy: Gold, Silver, and Platinum

Lear Capital sells different kinds of precious metals:

• Gold coins and bars from famous mints around the world.
• Silver coins and bars in different sizes and purities.
• Platinum coins and bars to mix things up.
• Precious Metals IRAs for saving for retirement with tax benefits.

They sell metals from countries like the United States, Canada, Austria, the United Kingdom, and South Africa. You can choose from different weights and designs to fit what you want.

For example, you could buy American Gold Eagles that are easy to sell, or try something different like Austrian Philharmonics.

Precious Metals IRAs: Saving for Retirement with Gold and Silver

One big thing Lear Capital offers is Precious Metals IRAs. This lets you put real gold, silver, and platinum in a special retirement account that can give you tax benefits. Here’s what you should know:

• You need at least $10,00 to start.
• Yearly fees are usually $200-$280 for keeping your account and storing your metals.
• Your metals are kept in safe places approved by the IRS.
• You can choose from lots of different metals for your IRA.
• You can pay extra to have your metals stored separately from others.

Lear Capital helps with everything from setting up your account to picking which metals to buy. They make sure you follow all the IRS rules for precious metals IRAs. They can also help you move money from other retirement accounts into a precious metals IRA if you want.

How to Open a Precious Metal IRA Account with Lear Capital

Opening a precious metals IRA account with Lear Capital is a very simple process that helps you invest in gold and different precious metals.

The experts of Lear Capital make this process very easy for you and you can complete this process in three different steps that are mentioned below for your help.

Step 1: Fill Out the IRA Account Form

To open an IRA account first of all you need to fill up a basic form that you can find on the Lear Capital website.

In this form, you need to provide some basic information about yourself like your name, personal details, residential details, and other information.

After providing all the correct information the experts of Lear Capital will contact you and help you move forward.

Step 2: Determine the Amount for Your Investment

After submitting the form you need to wait for confirmation from Lear Capital and then they help you roll over funds from an IRA or a 401k account to your precious metals IRA account.

In this step, you need to decide how much money you want to invest initially and this amount depends on your financial goals and current financial situation.

Step 3: Open and Fund Your Account

After completing the first two steps, you need to open your account officially and fund it. The team of Lear Capital helps you in this process and makes sure your funds are transferred safely and your precious metal investments are set up properly.

How Much it Costs: Fees You’ll Pay

It’s important to know how much you’ll pay. Here’s a breakdown of Lear Capital’s fees:

• First Year Setup Fee: $280.
• Yearly Fee After that: $200.
• Storage Fees: $1-$1.80 for every $1,000 you have in metals.

If you invest more money, you can pay less in fees:

• If You Put in Over $10,000: You don’t pay the $50 setup fee.
• If You Put in $25,000-$50,000: You don’t pay any fees for the first year.
• If You Put in $50,000-$75,000: You don’t pay any fees for the first two years.
• If You Put in Over $75,000: You don’t pay any fees for the first three years.

These fee discounts can save you a lot if you’re investing a lot of money. For example, if you put $75,000 in a Lear Capital IRA, you could save over $1,000 in fees in the first three years. But it’s a good idea to compare these fees with other companies to make sure you’re getting a good deal.

Keeping Your Metals Safe: Storage and Security

When you buy physical gold or silver, you want to make sure it’s kept safe. Lear Capital uses Delaware Depository, a well-known and IRS-approved storage place, to keep their customers’ metals. Here’s what you should know about their storage:

• The storage places follow all the rules for precious metals IRAs.
• Your metals are 100% insured by Lloyd’s of London in case they’re stolen or damaged.
• You can choose to have your metals stored with others’ or kept separate.
• The storage places are watched 24/7 and have really good security.
• They check regularly to make sure all the metals are there and accounted for.
• Your specific metals are assigned to you, not just part of a big pile.

You can choose between storing your metals with others (which is cheaper) or having them kept separate (which costs more but might make you feel better). The choice depends on what you prefer and how much you want to spend.

Customer Service and Education: Helping You Learn

Lear Capital tries hard to teach their customers about precious metals. They think that if you understand more, you’ll make better choices and be happier with your investment. Here’s what they offer to help you learn:

• A personal helper for each customer to guide you.
• A free information kit with market info, investment strategies, and product details.
• Up-to-date pricing information to help you decide when to buy.
• Online articles, videos, and webinars about investing in precious metals.
• Regular updates about what’s happening in the market.
• Guides on topics like moving your IRA, storing precious metals, and spreading out your investments.

This focus on teaching can be really helpful if you’re new to buying precious metals or if you want to stay informed about what’s happening in the market.

Lear Capital teaches about basic stuff, but also more complex topics like how world events can affect gold prices and how to use precious metals to protect against inflation.

What Customers Say: Reviews and Ratings

It’s important to see what other customers think. Here’s how Lear Capital rates on different review websites:

• Trustpilot: 4.9 out of 5 stars (from over 2,586 reviews).
• ConsumerAffairs: 5 out of 5 stars (from over 1,448 reviews).
• Google Reviews: 4.7 out of 5 stars (from over 416 reviews).
• Better Business Bureau (BBB): A+ rating and 3.95/5 stars (from over 58 reviews).

Many customers like Lear Capital because the staff knows a lot, they explain things clearly, and they’re helpful throughout the process. People often say good things about the educational resources, quick customer service, and smooth buying process.

But there are some bad reviews too, usually about pricing or communication problems. Some customers said they felt pressured to buy or were surprised by fees.

It’s worth noting that buying precious metals can be complicated, and some bad reviews might be because people didn’t understand how the market works or what to expect when buying physical metals.

The difference between the high ratings on sites like Trustpilot and the lower BBB rating shows why it’s important to look at reviews from different places when deciding if Lear Capital is trustworthy.

Legal Issues: Past Problems and Current Status

Lear Capital has had some legal troubles in the past. In 2019, they paid $2.75 million to settle a lawsuit with Los Angeles. The lawsuit said Lear Capital didn’t properly tell customers about fees and markups on precious metals sales.

In 2022, they paid $6 million to New York for similar reasons. The state said Lear Capital charged hidden fees up to 33% on some sales without telling customers clearly.

These legal problems are concerning, but Lear Capital has taken steps to fix these issues. They’ve settled most of their legal problems and are still operating with approvals from industry organizations. They say they’ve improved how they tell customers about fees and are being more clear in their communication.

These past problems show why it’s really important to understand all the fees and terms before investing with Lear Capital or any precious metals company. Don’t be afraid to ask lots of questions about pricing, fees, and anything else about your investment.

Is Lear Capital a Reputable Company? Checking if They’re Trustworthy

Even though Lear Capital had legal troubles before, they seem to be a real precious metals investment company. Here are some things that show they’re legitimate:

• They’ve been around since 1997, surviving different economic times.
• Many customers give them good reviews on different websites.
• They’re clear about their fees now, especially after the legal problems made them improve.
• They work with well-known storage companies like Delaware Depository.
• They have approvals from industry organizations and follow IRS rules for precious metals IRAs.
• They offer a wide range of products and lots of educational resources.

But like with any investment, it’s important to do your own research and think carefully before deciding. The company’s past legal issues, even though they’re resolved, mean you should ask lots of questions about all parts of your investment, especially about fees and pricing.

Just because a company is legitimate doesn’t mean it’s the best choice for everyone. Your personal money situation, what you want to achieve, and how much risk you’re comfortable with should guide your decision on whether Lear Capital or any other precious metals company is right for you.

Comparing Lear Capital to Other Precious Metals Companies

It’s smart to look at different options before deciding where to invest. Here’s how Lear Capital compares to some other companies:

• Minimum Investment: Lear Capital’s $7,500 minimum is less than some companies like Augusta Precious Metals ($50,000) but more than others like American Hartford Gold ($5,000).
• Fees: Lear’s yearly fees are about average, but some companies like Goldco offer more fee discounts for big investments.
• Product Selection: Lear Capital offers about the same variety of gold, silver, and platinum as most major competitors.
• Customer Service: While people praise Lear Capital’s customer service, companies like Birch Gold Group and Augusta Precious Metals are also known for good customer support.
• Educational Resources: Lear Capital’s educational materials are really good, matching or beating what many competitors offer.
• Storage Options: Lear’s partnership with Delaware Depository is good, but some competitors offer more choices for where to store your metals.
• Company History: Lear’s 25+ years in business is respectable, though some competitors like Goldco have fewer legal problems in their past.

When comparing Lear Capital to other precious metals companies, think about the products and fees, but also the company’s reputation, how good their customer service is, and how well they match what you want to achieve with your investment.

Who Might Want to Invest with Lear Capital?

Lear Capital might be good for:

• People who want to add gold, silver, or platinum to their retirement savings, especially through IRAs.
• Those looking to protect their money from market ups and downs by buying physical metals.
• Individuals who like having a personal helper and lots of educational resources to guide their investment decisions.
• Investors okay with a $7,500 minimum investment and willing to pay average industry fees.
• Those who appreciate a company with a long history in precious metals and many product options.

Lear Capital might not be the best choice for:

• Investors looking for the very lowest fees, as there might be cheaper options.
• Those who want to keep their precious metals at home, since Lear Capital uses outside storage for IRA investments.
• People uncomfortable with the company’s past legal issues, even though they’ve been resolved.
• New investors with less than $7,500 to invest, who might find lower minimums elsewhere.
• Those wanting to invest in things beyond precious metals, as Lear Capital mainly focuses on gold, silver, and platinum.

Frequently Asked Questions

Q1. Is the paperwork of Lear Capital difficult?

The paperwork process at Lear Capital is very simple and easy to complete. With help from their IRA team members, you can finish all the required documents without any problems. The process only needs some basic information and contact details from you.

Q2. How does Lear Capital make money?

Lear Capital generates its income through different precious metals services. For example, they make money by selling precious metals and helping people set up and rollover IRAs, and also from coin grading services that they provide to customers.

Q3. How many employees does Lear Capital have?

In 2024, they have around 115 employees and all of these employees are very specialized in asset management and investment work.

Final Thoughts

Lear Capital offers a good range of precious metals investments, backed by over 25 years of experience. They focus on teaching customers, giving personal service, and being clear about fees, which are all good things.

The fact that they’ve been around so long and have done billions of dollars in sales shows they’re established in the precious metals industry.

Their educational resources can be really helpful if you’re new to precious metals or want to learn more about this type of investment.

The option to invest in precious metals IRAs gives a tax-advantaged way to add gold, silver, and platinum to retirement savings, which can be good for those wanting to spread out their long-term investments.

However, their past legal issues and mixed BBB rating are things to think about carefully. While the company has taken steps to fix these problems and improve their practices, potential investors should be thorough in their research. It’s crucial to understand all fees, terms, and conditions before investing.

In the end, deciding to invest with Lear Capital (or any precious metals company) should be based on your personal financial goals, how much risk you’re comfortable with, and careful research.

Think about how precious metals fit into your overall investment plan and whether the potential benefits match what you want to achieve financially.

It’s always a good idea to compare multiple options and talk to a financial advisor before making big investment decisions.

An independent financial professional can help you figure out if investing in precious metals is right for you and, if so, which company and products best fit your needs.

Remember, while precious metals can be a valuable part of a diverse investment portfolio, they come with their own risks and things to consider.

Precious metals prices can go up and down a lot, and these investments don’t give you regular income like stocks or bonds do. Make sure you understand the potential good and bad points before adding gold, silver, or platinum to your investments.

BEST COMPANY

9.8

Goldco Precious Metals

• Goldco Surpasses $2 Billion in Precious Metals Placements
• Over 6,000 Five-Star Ratings on BBB, Trustpilot, and ConsumerAffairs
• Seven-Time Winer on the Inc. 5000 List

 

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