Lear Capital Gold Review

4.2 _/5

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Gold IRA and metals inventory

• 24-hour risk-free purchase guarantee
• Diverse precious metals inventory
• Fee waivers for large investments
• Secure, insured shipping
• 24/7 account access

• Lack of online transparency
• No online setup for IRAs
• Limited storage information

Founded in 1997, Lear Capital has established itself as a trusted name in the precious metals industry. Its mission is to diversify investment portfolios, focusing on gold and silver. Lear Capital is ideal for those seeking market stability.

Lear Capital caters to investors aiming to integrate tangible assets into their financial planning. It’s especially fitting for investors using precious metals to hedge against market fluctuations.

Is Lear Capital Gold reputable?

When you’re thinking about making a financial decision, like investing in gold, checking out customer reviews is key. These reviews give you a peek into what other people have experienced, helping you figure out if a company is as good as it claims to be.

Lear Capital has built a solid reputation, but like any company, it has its strengths and areas for improvement. Let’s break it down:

Source	Customer rating	Number of reviews
Trustpilot	4.8/5	1,820
Google	4.8/5	342
Better Business Bureau	2.13/5	24

Collected on November 30, 2023

On Trustpilot and Google, Lear Capital shines with impressive ratings of 4.8 out of 5. Customers often highlight how easy it is to work with the company and appreciate the knowledgeable and friendly customer service.

The story is a bit different on the BBB, where Lear Capital’s rating is much lower. It’s important to note that this rating is based on only 24 reviews, which is a relatively small sample size.

The lower BBB rating does point to some concerns, particularly around transparency and fees. The BBB focuses heavily on business ethics and transparency, so this lower rating, even from a smaller number of reviews, is something to consider.

While Lear Capital isn’t accredited by the BBB, the high ratings on other platforms suggest that many customers are happy with their experience. Common praises include the helpfulness of the customer service team and the ease of making investments. On the flip side, the main criticisms are about pricing transparency and hidden fees.

Lear Capital Gold’s gold IRA

How do you open a Lear Capital Gold IRA?

Opening a Gold IRA with Lear Capital is designed to assist investors in making informed decisions. Here’s a breakdown of the steps:

1. Initial inquiry: Visit Lear Capital’s website and fill out the form to express interest in a Gold IRA.
2. Consultation: A representative from Lear Capital contacts you to discuss your investment goals and options.
3. Application process: Complete a 10-minute application form, and Lear Capital sets up the IRA within 24 hours of receiving the application.
4. Fund the account: Direct contributions, IRA rollovers, or transfers from other retirement accounts are options for funding. Lear Capital assists in contacting the current custodian for rollovers, which can take up to five business days.
5. Select metals: Choose from various IRA-eligible metals, including gold and silver. You can purchase metals through Lear Capital or other sources, but they must meet IRS standards.
6. Finalize the IRA: Review and finalize your metal selections. Lear Capital facilitates the purchase and storage of the metals in an IRS-approved depository.

Each step requires decisions about investment size, types of metals, and funding sources. Lear Capital guides you through these choices to help keep you informed at every stage.

Costs and fees of Lear Capital Gold IRA

Lear Capital’s Gold IRA costs are structured to accommodate various investment levels. The cost to set up and maintain an IRA is $280 for the first year, which then becomes $200 annually. These fees encompass account setup, maintenance, storage, and access to financial statements and online tools.

Lear’s fee structure is appealing because it’s based on your investment amount.  For investments ranging from $25,000 to $50,000, the first year’s fees are covered, with subsequent tiers offering even more fee waivers. 

This approach makes it cost-effective for larger investments and transparent in terms of what investors pay for at each level. The fee waivers for higher investment amounts can reduce the overall cost for investors.

Cost	Details
$280 (first year); $200 (annually thereafter)	Set up and maintenance fee. Includes storage and account management.
$0 for $25,000 – $50,000 (first year)	Fees waived as a reimbursement after the first month in storage.
$0 for $50,000 – $75,000 (first and second year)	First two years’ fees waived.
$0 for $75,000+ (first, second, third year)	Fees waived for the first three years.
$0 for investments over $10,000	$50 setup fee covered.

Lear Capital Gold’s precious metals inventory

How do you purchase metals through Lear Capital Gold?

Purchasing metals through Lear Capital is designed for personalized service and security. Here’s a step-by-step guide:

1. View the inventory: You can’t view Lear Capital’s inventory online. Interested buyers must contact Lear Capital to discuss available options.
2. Consultation: During the call, Lear Capital representatives provide details on the types of metals available, including gold, silver, platinum coins, and bars. They also offer guidance on the best options based on your investment goals.
3. Payment options: You’ll discuss specific payment methods during the consultation. Lear Capital ensures secure and convenient payment processes tailored to individual transactions.
4. Finalize the purchase: Once you’ve made the selection and arranged payment, Lear Capital confirms the purchase. It provides the details of the transaction, including the total cost and any fees.
5. Delivery of metals: Lear Capital ships the metals securely, discreetly, and insured to ensure the safe arrival of your investment.
6. Storage solutions: Lear Capital doesn’t disclose storage options for purchased metals, but we recommend storing them in a secure location, such as a safe-deposit box or a home safe. For large investments, consider professional storage facilities specializing in precious metals.

Costs and fees to purchase metals through Lear Capital Gold

When purchasing metals through Lear Capital, the costs are centered around the price of the metals and any associated shipping or insurance fees. However, Lear Capital doesn’t disclose the costs on its website but provides this information during the consultation.

The costs can vary based on factors such as the type and quantity of metal purchased, current market prices, and any special promotions or deals Lear Capital offers at the time of purchase. Shipping is secure, insured, and discreet. Lear Capital determines the exact charges for these services for each transaction. 

Pros and cons of Lear Capital Gold

Pros

• 24-hour risk-free purchase guarantee

  Lear Capital offers a unique opportunity to reconsider IRA investments within 24 hours without incurring cancellation fees.

• Diverse precious metals inventory

  The company provides a wide selection of gold, silver, and platinum products suitable for IRAs and direct purchases.

• Fee waivers for large investments

  Investors making substantial contributions to gold IRAs benefit from attractive fee waivers based on the investment amount.

• Secure, insured shipping

  Metals are delivered with the assurance of security and insurance.

• 24/7 account access

  Lear Capital provides around-the-clock online access to track and manage IRA accounts.

Cons

• Lack of online transparency

  Detailed information on costs and inventory is not available online, so you must consult with the company.

• No online setup for IRAs

  Setting up an IRA with Lear Capital requires a phone consultation.

• Limited storage information

  Information about storage options for direct metal purchases is sparse.

Alternatives to Lear Capital

When considering alternatives to Lear Capital, it’s important to explore other reputable companies that specialize in gold IRAs and precious metal investments. Each company offers unique strengths, whether it’s their overall service quality, specific product offerings, or customer satisfaction guarantees.

For more options, check out our picks for the best Gold IRA companies as well as our complete list of personal finance companies. These resources can help you make a well-informed decision based on your specific investment needs and goals.

Does Lear Capital Gold have a customer service team?

Lear Capital’s customer service team is primarily at its corporate office in Los Angeles, California, and handles a wide range of client needs. The team assists with inquiries about precious metal investments, helps navigate the IRA setup process, and provides information on pricing and purchasing options. 

Ways to contact Lear Capital include:

• Email: [email protected]
• Phone: 800-576-9355 (general inquiries), 800-855-5327 (customer support)
• Mailing address: Lear Capital Inc., 1990 S. Bundy Dr. Suite 650, Los Angeles, CA, 90025
• Chat box: Available on Lear Capital’s website for instant assistance

Lear Capital Gold FAQ

Does Lear Capital require a minimum investment?

It doesn’t appear that Lear Capital has a minimum investment for gold IRAs or a purchase minimum for gold inventories. To get precise information tailored to your needs, it’s best to contact Lear Capital directly and discuss your investment options with one of their representatives.

Does Lear Capital offer storage options for your metals?

Lear Capital provides storage solutions for metals held in an IRA. All IRA metals are stored in the Delaware Depository, an IRS-approved vault. This facility is backed by a comprehensive insurance policy underwritten by London Underwriters. 

The cost includes $280 for the first year and $200 annually thereafter, covering storage, financial statements, online access, and more. 

For metals purchased directly, Lear Capital does not disclose storage options. Consider secure alternatives, such as safe-deposit boxes or private vault services.

How can you liquidate your metals?

Lear Capital offers straightforward options for liquidating metals in or outside of an IRA:

• For IRA metals: Inform the team if you prefer physical metals or cash. For physical delivery, metals are securely shipped from the Delaware Depository. For cash, Lear assists in converting metals to cash, wiring funds to your bank account or sending a check, usually within one business day.
• For direct purchases: The process might require a consultation with Lear’s team to facilitate the sale and conversion into cash, following similar secure and efficient procedures.

How can you track the value of your metals?

Lear Capital offers several tools to track the value of your metals:

• For IRA investors: It provides quarterly statements and 24/7 online access to your account, allowing you to monitor the performance and value of your metals.
• For direct purchasers: Lear Capital doesn’t disclose specific tracking tools, but investors can use general market resources or consult with Lear Capital for updates on current metal values.

How we rated Lear Capital Gold

We designed LendEDU’s editorial rating system to help consumers identify companies that offer the best financial products. Our experts spend hours researching these companies each year to ensure our ratings are fresh and accurate.

Our most recent evaluation compared Lear Capital Gold to several gold companies across a number of factors, including types of metals, costs, company history, and customer experience. We weighted, scored, and combined these factors to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. We round all ratings to the nearest tenth decimal place.

Product	Our rating
Lear Capital gold IRA and dealer	4.2 out of 5