Lear Capital Review: Is It Appropriate for Precious Metals Investments?

By Tim Schmidt

Investing in precious metals is a great idea because they offer security against market volatility and other risks. However, when you decide to add them to your portfolio, it's essential to pick the right company to assist.

I've worked in the precious metals industry for many years, so I know how to explore a company's offerings before investing. Still, I realize some people don't know where to start, especially when dealing with actual assets and not an IRA.

In my Lear Capital review, I'll walk you through the company's offerings, so let's get started.

A Brief Overview of Lear Capital (Headquartered in Los Angeles)

Lear Capital was founded in 1997 and is one of the leading companies for buying precious metals like gold and silver. This brand focuses on maintaining a strong relationship with its clients.

At Lear Capital, you can buy, exchange, and sell gold and silver. Plus, you'll work with an account representative, while enjoying a secure environment for ordering and learning. Before making your precious metals purchase, dive into the educational resources to expand your understanding of the industry.

Lear Capital Reviews and Ratings

The chart below shows the ratings and number of reviews for Lear Capital based on different websites. You can visit those sites to read them and learn more about the company.

Generally, most people had positive things to say about the brand. Some reviewers claimed they had received their products in a very timely manner.

A Note About Jeremy Jason

However, Lear Capital complaints run rampant. For example, on the Better Business Bureau site, one person said that they had spoken to Jeremy Jason about wholesale prices, and the information was incorrect.

Others who were purchasing gold outside of an IRA said the information provided was inaccurate, as well. Still, the company responded to every complaint, explaining what happened and offering solutions.

How Does Lear Capital Stand Apart From Other Gold IRA Companies?

Though Lear Capital doesn't offer palladium coins or advanced investment options, I found many products and services on the website for platinum, silver, and gold. Let's break things down for you in detail:

Premium Rare Coins

When I navigated the website, it was easy to see that Lear Capital offers various investment options in the form of bullion, bars, and coins. You'll want to add them all to enjoy a diversified investment portfolio.

The rare coins listed here can help you fight inflation. It's easy to back up your financial future, even when paper money struggles to maintain its value.

Storage Facility

While looking into security and storage options, I learned that Lear Capital's services extend to the Delaware Depository, which is a trusted name within the industry. Likewise, precious metals that are delivered to and from the facility are fully insured.

Precious Metals IRAs

Besides selling rare coins and bullion, Lear Capital lets you invest in precious metals IRAs. You can easily perform a rollover of your 401(K) or set up a new account.

People like precious metals IRAs because they offer the same tax benefits as a regular individual retirement account. In my experience, the resources are the best part of the brand. The materials are easily accessible and user-friendly, helping you understand investing.

Price Charts

Likewise, the price charts at Lear Capital are excellent. When I looked at them, it was clear that you could get historical information and data within the last year and 24 hours.

Plus, you can research a specific date to view gold's historical prices. This helps you assess market trends and determine when to invest. Likewise, there are similar features for other precious metals like platinum and palladium.

Easy-to-sell Coins

If you wish to sell your current gold/silver coins, Lear has you covered. It offers asset valuation services to help you liquidate the precious metals in your portfolio. Overall, I found that this addresses a huge challenge within the industry and makes it easier to convert those items into cash.

The Price Alert App

Precious metals prices are always changing, so it's important to keep track of them. Lear Capital has a price alert app, available on Android and iOS devices, to notify you of any fluctuations that you specify.

Coin Encyclopedia

While there are already so many great things to like about Lear Capital, it also provides a coin encyclopedia. This offers visual images, a history of rare coinage, and descriptions.

Mailed Resources

One key strategy at Lear is to keep investors updated. Therefore, it offers to email you free information.

I receive the newsletter and frequent emails from the company. There is plenty of information about rare coins, precious metals, and gold IRA accounts.

Educational Resources

Amazingly, Lear Capital emphasizes knowledge and awareness. Ultimately, the website offers tons of information and updates. Here are some of the resources I came across:

• Blogs and News - The company shares the latest updates and news about precious metals investments through email, so you don't have to be a customer. Likewise, the blog section is great for newbies and experienced investors.
• The Learning Center - Lear Capital wants everyone to know that investing in precious metals can be risky. It shares insights about the history and differences between the options.
• The Video Series - At Lear Capital, you'll find a "Keeping You Informed" video series that focuses on the company's policies, historical concepts, and basic facts about investing in precious metals. This is great if you want to familiarize yourself with the industry.

Lear Capital Fees

Through my years of experience, I've learned that pricing is crucial when picking an investment partner. Overall, I was happy when I saw that information on the Lear Capital website.

This company charges $280 for the first year, which includes setting up and maintaining the IRA account. Then, there is an annual fee of $200 for storage, 24/7 accessibility, and insurance.

Similarly, Lear Capital offers free storage and set-up for IRA accounts that hold limited mintage coins. However, the service varies based on the number of orders you have.

• The $50 set-up fee is waived if you have an order over $10,000.
• You won't pay the first-year fees on orders that range from $25,000 to $50,000. However, you'll get a reimbursement check after the assets have been in storage for one month.
• The first- and second-year fees are waived on orders that range from $50,000 to $75,000.
• You won't be charged fees for the first, second, or third years if your order is over $75,000.

How to Invest With Lear Capital

You'll enjoy a straightforward investment process at Lear Capital. There aren't many steps involved to open an account. I've broken everything down for you below:

1. Fill Out the Form Online

On the Lear Capital website, you'll see a basic form to help you open an IRA account. Just input your address, name, and other personal details, ensuring they are correct so that the team can contact you.

2. Fund the Rollover

Once you submit the form, the customer support team at Lear Capital will confirm your request. This can be slightly lengthy because you can't open an account until the process is complete. However, I think it adds another layer of protection.

A representative will be assigned to you. They will help you buy gold and silver through your bank account or rollover funds from your 401(K) to an IRA.  To understand this process further, read how to convert your IRA to gold.

3. Invest in Precious Metals

After the funds are transferred, you can buy the precious metals from the company website. Someone will confirm the transaction and ensure that you're getting the best price possible. Then, you'll verify the order and finalize everything.

Setting up a Lear Capital gold IRA will only take about one business day. In my opinion, that's the best part about investing here. Plus, it's one of the fastest experiences I've had, though the timing will depend on your current custodian and can take up to a week to complete.

Is Lear Capital Legit?

Yes, this company is legitimate. You can see that many of the Lear Capital reviews are positive, and the complaints seem to be minor. Similarly, it offers transparent pricing and various educational resources.

Pros and Cons

Here is a quick list of pros and cons to help you decide if Lear Capital is right for you:

Lear Gold Alternatives

You have no shortage of options when it comes to investing in precious metals.  You'll find lower account fee's with NobleGold and the Goldco precious metals IRA.  I went with the latter for my personal investment in metals.

Final Thoughts

Overall, this company is ideal if you need a Lear gold IRA because it focuses on educating customers before they make transactions. Many tools and resources can help you understand the precious metals market to make better investment decisions.

Still, Lear Capital doesn't offer many investment options. Therefore, if you want to diversify your portfolio, it might not be the best solution.

Since there are negative and positive traits, I can recommend Lear Capital, though I suggest that you focus on your investment needs and ensure the brand offers what you require. Likewise, it's crucial to speak with a financial advisor before making a final decision.

Frequently Asked Questions

What Is the Free Price Evaluation Service?

With this service, Lear does a free price evaluation if you have a list of precious metals you've bought or inherited. The company will track your portfolio, as well. Typically, this occurs on a quarterly or monthly basis, depending on your needs.

Will Lear Capital Automatically Buy Back the Coins You Purchase?

Lear Capital doesn't guarantee to buy back coins you purchase from it. However, if the company chooses to, you will receive the current market price.