Lear Capital Gold IRA Review
We contacted Lear Capital to request a gold IRA investor kit and learned firsthand how hard the company works to educate its customers about Gold IRAs. The kit and the website provide comprehensive resources for customers to review and learn.
So how does Lear Capital compare to other gold IRA companies? Among competitors, Lear Capital stands out for its commitment to customer service. They’ll assign you a dedicated account member to establish your account and guide you through the process of buying and selling gold.
Pros
- 24-hour risk-free purchase guarantee
- Timely transactions and fast shipping
- Assigns a personal Lear representative to every customer
- Access to free Lear Learning Center
Cons
- Charges a modest annual fee for self-directed IRAs
- Minimum purchase requirement
Gold and other precious metal IRAs are an investment and carry risk. Beware of claims that customers can make a lot of money in these or any investment with little risk, as you can lose money with any investment, and past performance does not guarantee future performance results. Consumers should also clearly understand the fees associated with any investment before agreeing to invest.
Lear Capital Investments
Lear Capital encourages customers to invest in precious metals by purchasing gold, silver, and other precious metal coins compliant with IRS guidelines for IRAs. While other companies can help you invest in a gold IRA, Lear Capital doubles down on satisfaction and service by assigning every customer a specialist to help guide them through the investment process.
Starting a Lear Capital IRA
To get an IRA precious metals account, you’ll contact Lear Capital’s in-house Individual Retirement Account (IRA) Processing Department. It takes about 10 minutes to complete the application account, and once received, company representatives will set up your account within 24 hours. Lear will also work with your current IRA custodian current IRA custodian to roll over your IRA funds tax-free.
Next, Lear Capital will assign a personal representative to guide you through choosing the right gold to fund the IRA. The website clearly describes purchase options, including pictures and pricing; however, coin prices are displayed in real-time and will change throughout the day.
Buying Precious Metals With Lear
After purchase, customers can wire the money over the phone to Lear Capital or mail in a check. Because it takes about two weeks for a check to be processed, Lear Capital suggests wiring the money over the phone, which takes about a week to process. Once the coins are purchased, the consumer signs the Shipping and Transaction Agreement to ship the coins to the consumer or place them in the secure depository.
One thing we really appreciate about Lear is its commitment to reducing the stress and pressure customers often feel when making big investment decisions. Unlike other gold dealers, Lear Capital operates a 24-hour risk-free and price-match guarantee. If you find a better price within 24 hours of your order, Lear will try to match or beat the price, and cancel the order if they cannot. If you change your mind about your purchases, Lear will cancel the order, no questions asked.
Lear Capital Costs
Lear Capital charges a one-time payment of $280 for the first year for set up and maintenance and $200 annually for some self-directed IRAs—though these fees fluctuate based on the purchase amount. All fees include storage, insurance, and 24/7 account access online.
- $10,000 investment: Waives setup fee ($50)
- $25,000 to $50,000 investment: Waives first-year fees after one month in storage
- $50,000 to $75,000 investment: Waives first- and second-year fees
- $75,000+ investment: Waives first, second, and third-year fees
Pricing for individual gold, silver and platinum products varies over time, but Lear Capital promises pricing transparency. Your specialist will quote all fees and taxes before final purchase—and provide a price match guarantee. Plus, Lear displays all gold and silver prices online, which is not something all gold companies do.
At the time of this writing, the minimum investment at Lear Capital is $10,000.
Lear Capital Distributions
Consumers buy precious metals because of their inherent time-honored value. Even when the economy performs poorly, precious metals can maintain—or appreciate—in value. In contrast, a conventional IRA may lose value if the economy plummets. For this reason, gold and other precious metal IRAs are considered a hedge against market risks.
As Lear explains, when you’re ready to retire and withdraw funds, a Precious Metals IRA can give you an option not found with regular retirement accounts: the ability to physically possess your metals to continue distribution. You also have the option to liquidate your account, though it will subject you to annual Required Minimum Distributions (RMD). For the tax implications and more information on Gold IRAs, read how to buy gold.
| IRA Balance | Age | Estimated Annual RMD |
|---|---|---|
| $10,000 | 72 | $364.96 |
| $75,000 | 72 | $2,737.23 |
| $150,000 | 72 | $5,474.45 |
| $200,000 | 72 | $7,299.27 |
Lear Capital Complaints
Consumer reviews are positive overall, with clients praising their commitment to education before making any purchases. Lear has over 1,600 reviews on Trustpilot and has earned a 4.8 rating. A staggering 95% of Lear’s reviews are four stars and above. The general theme in customer feedback is the ease of service and how thorough representatives are in explaining investment options to the customer. For the lesser-rated reviews, Lear Capital responded and resolved the issue in a timely manner.
Lear Capital FAQs
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Does Lear Capital buy back coins?
Lear Capital runs a no-fee buy-back program as part of its customer experience guarantee. If the consumer wants to sell back their coins at any point, they will offer to buy back the coins at the market price at the time of the buyback. -
Where is Lear Capital gold stored?
Gold is stored at the Delaware Depository IRS-approved depository vault. Lloyds of London has underwritten its comprehensive insurance policy, which protects your assets against physical loss or damage and Acts of God. -
What are the typical Lear Capital fees?
Each year the customer will be charged $200. This includes storage for the coins, insurance, quarterly financial statements, and 24/7 access to their account online. There are also commissions on the purchase of gold and storage fees. -
What is a precious metals IRA?
A precious metals IRA is a self-directed individual retirement account that holds physical gold, silver, and platinum. The IRA is similar to traditional IRAs, but it has coins and bars instead of “traditional” stocks, bonds, or funds. The account holder must store the metals in their account with an IRS-approved custodian. -
How does Lear Capital make money?
Lear Capital makes money as a full-service precious metals dealer and offers. They also specialize in helping customers set up or rollover gold and silver self-directed IRAs. When you work with Lear, you work with a full-service account executive and all costs are included in the product price.
Conclusion
Lear Capital is a steadfast industry leader that values educating its customers and top-notch customer support. This is proven by the companies commitment to pricing transparency, as well as its risk-free purchase guarantees and no-fee buy-back program.