Lear Capital has been a household name in precious metals IRAs for over 25 years. The company has conducted more than $3 billion in transactions, making them a top pick by consumers for precious metal investments. After taking a deeper look at Lear Capital’s process, we praise the company for its commitment to smooth transactions and dedicated staff who help consumers fully understand their investments. All things considered, Lear Capital gets our “Great Service” award.
Lear Capital’s educational resources are great for new gold IRA clients. Customers of all types will appreciate personalized service and their solid track record in guiding smart transactions.
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.
Photo: Lear Capital homepage
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 FAQ
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.
Lear was super good about sending me the information, and answering my questions, They follow up with me and are very interested on helping me even after I have already invested $20,000 with them.
I am very conservative and am concerned about the taxes and how I was able to transfer my IRA money to Gold/Silver. It doesn't take much to irritate this 81 year old man and if I feel pressured I won't talk or get involved with you. That is why I am very satisfied with investing in Gold and Silver.
If I didn't like Lear, you would hear a lot more about them. So I have more IRA money to invest ,I feel it will also go to Lear. So take this for what it is, I am very satisfied with Lear. If something comes up I am not satisfied, oh they will be the first to hear. Ya, I'll be around another 20+ years, you I'm 81+. BILL **, Deposit, NY
William M.
Deposit, NY
Lear Capital
William, thank you for your kind words about our business! We are happy to hear that Armando has been helpful and professional in your investment process, and we are glad you received informative and timely communication from our team. Thank you for choosing to partner with Lear Capital!
March 21 2023 11:30PM
I was told by a trusted friend Lear capital was the best company to buy gold from. I assumed it was so. I have trouble hearing and was told they were charging a standard fee. Boy they charged me more than double the fee from a majority of reputable companies. I am considering a legal option for fraudulent fees they told me were normal. They are 2 1/2 times “ normal.
Butkley N.
Fillmore, CA
Lear Capital
Butkley, thank you for taking the time to share your experience with us. We are sorry that you are not happy with your transaction at this point. We have assigned your issue to a member of our team to follow up with you. Please don't ever hesitate to contact us at [email protected] or 1-800-885-LEAR(5327) with any questions or concerns.
February 07 2023 8:29PM
Joe at Lear Capital is excellent in every way. Knowledge of metals. He is simply -the best! He explains his business and has a lot of common sense suggestions. Lear Capital is top and Joe’s team is perfect. I have recommended him in the past and would do so again. Fabulous!
Teresa S.
New York, NY
Lear Capital
Teresa, thank you for your kind recommendation of Joe! We are happy to hear you have had such positive experiences working with him, and we are grateful for you taking the time to share about our team. Thank you for choosing to partner with Lear Capital!
January 21 2023 8:54PM
I did my due diligence before I selected Lear Capital and Derek. I was looking for an industry leader, but not a pest. Derek was instrumental in assisting me in maximizing my purchasing power. His expertise and coaching allowed me to acquire a maximum of high end collector coins and a substantial start in bulk silver.
I will rely on his knowledge in all my future transactions. I hope you realize the quality of your employee and the great lengths he goes to to educate and make comfortable a “newbie” like me. Sincerely, William **.
William K.
Georgetown, KY
Lear Capital
William, thank you for taking the time to share your kind words about Derek and your experience with us. We are happy to hear that you had good communications with our team and that you feel satisfied with your investment. Thank you for choosing to partner with Lear Capital!
January 20 2023 8:36PM
Very easy process, purchased items arrived as promised. Good follow up to insure I was satisfied with service. Follow up after purchase has been totally satisfactory. I would recommend the company with the highest possible rating.
James P.
Mesquite, NV
Lear Capital
Thank you for taking the time to share your experience, James! We appreciate your gracious words about the service you have received in the course of your investment. Thank you for choosing Lear Capital!
January 18 2023 12:40AM
Quick response! I got all that I asked for. Friendly and knowledgeable description on purchasing gold and silver!! I will be doing business with them again in the future!! No question they are a reputable company to deal with!!
James Bruce H.
Clinton, MO
Lear Capital
James, thank you for your kind words and positive review. We are happy to hear that you received helpful communication from our business. Thank you for choosing to partner with Lear Capital!
December 06 2022 2:19PM
My husband and I worked with Mike. Our experience was great in getting all of our questions answered. We were able to get exactly what we wanted.
The communication from the first phone call through receiving our shipment was greatly appreciated. There was never any long wait times on phone calls and in today’s world that was great too.
Susie H.
Greencastle, IN
Lear Capital
Susie, thank you for taking the time to share your kind review! We are glad to hear that Mike provided helpful information and communication throughout your transaction. We strive to provide excellent service and love hearing stories like yours. Thank you for choosing to partner with Lear Capital.
November 23 2022 2:48AM
I called to ask questions and find out information about buying Gold and Silver. All my questions were answered and I bought some of each. I got my shipments quickly and there was No confusion. Looking forward to buying MORE Soon. Al **
Al C.
Harpersville, AL
Lear Capital
Al, thank you for taking the time to share your experience. We are happy to hear that our team was able to provide you the information you desired and the helpful service you deserve. Thank you for choosing to partner with Lear Capital!
May 25 2022 6:59PM
Just became a Lear Capital sucker, figure on paying them 30 % more than your gold and silver is worth as soon as you buy it. If you are considering buying anything from them, find out what they are selling you exactly and for how much. Then go see what you can get it for from someone reputable. William ** is a Scumbag.
Gary D.
Springfield, MA
Lear Capital
Hi Gary, we are sorry to hear about your disappointment with Lear Capital. We would love to have a chance to review your account with you. Please contact us at [email protected] or 1-800-885-LEAR(5327) to see if we can help improve your experience with us.
December 20 2021 1:29AM
I was very satisfied with the service from my contact at Lear. Raad **, my contact was very professional and everything regarding the purchases I made went very well with no problems. I would have no hesitation to refer him to friends or family.
Dorothy B.
Taylor, MI
November 20 2021 1:52AM
I got a real education from my counselor about silver that I bought. I am in the process of going for some gold. But the service was great. The process to acquire as much as I acquired was uncomplicated. As I said I will be contacting Lear Capital for more.
Donald W.
Boerne, TX
May 04 2020 12:40PM
I was looking for something to make an investment in but wasn't sure in these times. Knowing nothing about precious metals, George was a great help and made my experience extremely easy. I like the idea of actually having my investment in my hand.
Bryan P.
Flushing, MI
February 25 2020 8:59PM
I invested with Lear Capital more than 3 years ago transferring all my 401K savings to precious metals IRA with somebody named Greg. I trusted them with my investment. After more than 3 years when I called, the manager says Greg has retired with the company. And I lost more than 30K in investment.
I dont know how they charge me with so much fees since gold and silver prices is higher than when I purchased it. I should have gained. I dont know if Better Business Bureau can help since i lost 1/3 of my life savings with Lear Capital. I dont know who can give me advise on what to do. Please help.
Jose V.
North Laiuderdale, FL
February 24 2020 8:23PM
Agree with Peggy - they are SCAM artists and extremely predatory. They will take 33% of your money as "fees"./ These are slipped in using unknown acronym during a recorded session. They stole $33,0000 from our account and told us we should have known. We also spoke with Jeremy. My guess fielding pissed off investors is a full time job. He talks in circles and goes back and forth between soft selling and getting extremely aggressive. We have asked for a resolution and told NO. We will be contacting our attorneys.
Sydney B.
Dallas, TX
May 10 2019 6:26PM
The only way to go with Silver & Gold is with Lear Capital, they care about the customer and not just to make a sale! From the first time I made the phone call to receiving my product, I'm very happy for them working for me. Don't get fooled like others who try and up-sell and confuse the buyer.
David C.
Oceanside, CA
April 25 2019 6:43AM
Friendly salespeople preying on retirees who don't understand the huge markups they are paying. Compare prices at several online metals dealers so you can see what's a reasonable price.
