Lear Capital Review: Pricing, Reviews & Alternatives
Nowadays, there are plenty of options if you’re looking for ways to invest in precious metals or gold IRA companies.
Lear Capital seems to be one of the top choices for many investors due to its accessibility and years of experience.
But is it the best option for you?
In this article, I’ll look at Lear Capital’s services and provide an honest review of the company and what it can offer.
What is Lear Capital?
Founded in 1997 with its headquarters in Los Angeles, Lear Capital provides services and products that include physical gold, silver, rare coins, bullion, and other precious metals.
Aiming to keep the customer’s experience as simple as possible, the companies help customers quickly buy, sell, and trade physical gold online.
With silver prices surging in recent years, Lear Capital also offers a wide range of opportunities for investors looking to purchase silver bullion and rare coins.
Having done more than $3 billion in deals, the company has established itself as a reliable partner for investors looking to diversify their portfolios with precious metals.
The Lear Price Advantage
Lear Capital coined this term to transmit to customers that they will always get the best price when investing in precious metals with them.
No matter your investment size, the company offers a strategy that helps customers maintain the lowest cost-per-ounce and maximizes their return on investment.
Lear Capital protects your individual retirement account investments through a reasonable flat fee.
This flat fee means that Lear won’t charge any hidden costs that take you by surprise.
Moreover, the company uses a Delaware Depository to store metals safely and securely, giving the customer peace of mind knowing that their investment is protected.
Lear Capital Customer Reviews
Lear Capital’s reviews are generally positive and highlight the company’s exceptional customer service.
In addition, customers have generally praised the company for its fast and hassle-free transactions.
The customer service staff is competent and always available to help with any questions or issues that may arise.
As a company that educates customers about the value of investing in precious metals, Lear Capital offers many helpful resources on its website.
The company has 4.9 stars on Trustpilot, which is an impressive score for any business in the precious metals market.
Moreover, the Business Consumer Alliance (BCA) rates the company as a 5-star service, and Consumer Affairs offers a 4.7 rating.
Lear Capital is also a Professional Coin Grading Service (PCGS) Authorized Dealer and is part of the Industry Council for Tangible Assets.
It’s worth noting that there’s no Better Business Bureau (BBB) accreditation for Lear Capital – although this does not necessarily reflect negatively on the company.
What Services Does Lear Capital Offer?
Lear Capital helps manage investments in precious metals, coins, and retirement accounts.
The company offers a one-stop shop for all needs, from financial advice for setting up an IRA to actual physical metal purchasing.
In addition to their secure vault storage and insurance, customers can rest assured that their investments are safe.
Here are the primary services Lear Capital offers.
Metal Investments
Lear Capital offers various products for metals purchases, from gold bars and bullions to rare premium coins.
For those interested in numismatic collecting, including gold coins, rare premium coins, and silver coins, Lear Capital is one of the best physical metals dealers on the market today.
As a precious metals dealer, the company offers professional coin grading services for coins of all types and will provide certificates of authenticity with each purchase.
Moreover, as a precious metals company, Lear Capital helps customers manage asset protection strategies using Gold IRA accounts and other tax-advantaged investment plans.
Financial security on purchasing the precious metal provides storage and liquidity options at competitive prices.
All this means that Lear Capital has the right solutions for your needs, whether it’s rare coins, platinum, silver, or gold bullion products.
Get started with Lear Capital.
Eligible Coins
Customers can invest in an array of valuable assets.
These are premium coins, gold and silver bullion, and IRA-eligible coins.
According to their website, the IRA-approved coins that form part of Lear Capital’s product lineup must be almost entirely pure.
Here are the numbers:
- Gold bullion: 99.5+% pure
- Silver bullion: 99.9%+ pure.
Knowing these precious metals investment options follow rigid guidelines can help customers make an informed decision on their investments.
Retirement Accounts
Another significant advantage of working with Lear Capital is their expertise in setting up retirement accounts such as Gold IRAs and Precious Metal IRAs.
Their self-directed IRAs provide an excellent option for those looking for alternative investments for retirement planning.
Moreover, as precious metals investing is a long-term investment strategy, Lear Capital supports customers to help ensure that their investments are safe and secure.
When you invest in precious metals IRAs with Lear Capital, you can transfer money from existing traditional or Roth IRAs into the account.
Known as “rolling over,” this process allows you to move funds without incurring any taxes or penalties.
With the help provided during this process, customers can take advantage of this tax-advantaged retirement savings vehicle.
Some of these investments also offer the same tax advantages as a standard IRA.
Such advantages include tax deferment until you’re ready to withdraw, which can help maximize your investment returns.
Finally, with assets stored securely, customers can rest assured that their investments are safe and protected.
Training Resources
I previously mentioned that Lear Capital offers training and education resources to its customers.
From market graphs to a complete resource of precious metals, along with various educational materials on retirement plans, users can make the most of their precious metal investments and plan for a more secure financial future.
You can also get a free investor kit to learn how to get started.
Storage
With IRS-approved storage, Lear Capital offers customers peace of mind when investing in valuable assets.
A secure storage facility in a Delaware Depository helps ensure that their assets are safe from theft or damage due to natural disasters.
Also, Lear offers fully insured transport services, so customers don’t have to worry about incurring losses during shipment.
Personal Account Representative
When you buy gold from this company, you get a Lear Capital representative assigned to your account.
Whether you need help with your rollover or need to discuss the current state of the precious metals market, this rep can be your real-time investment partnership, helping you understand spot prices and economic developments on any given day.
There’s also a customer support team that can provide additional assistance whenever needed.
With all these resources, customers are sure to make informed decisions about their investments in precious metals.
What Comes As Part Of A Lear Capital Purchase?
Lear’s Price Advantage Guarantee promises to provide customers with the lowest price on any gold or silver purchase.
This guarantee means customers get the following when buying from Lear Capital.
A Written Account Agreement
To ensure no hidden costs and transparent pricing, Lear has a written account agreement outlining all terms and conditions related to customers’ investments.
With gold and silver acquisition, Lear pledges to give its customers competitive prices.
A Phone Confirmation
Once you buy anything from the company, your designated Account Representative contacts you to ensure they correctly processed everything and confirmed your order.
You can also inquire about your investments’ current status and receive quality customer service.
Written Confirmation
You also get a precise estimate of the value of your gold holdings when you order from Lear Capital.
This estimate will give you peace of mind that you are getting what you paid for and that it is worth its price in gold.
If you want the best rates on investments, Lear’s Price Advantage Guarantee ensures you get your money’s worth at all times.
Lear Capital Fees
As with any other IRA Precious Metals Account, Lear Capital has associated fees that you must pay to maintain your account.
The actual first-year fees come down to $260 for the whole set-up process.
Then, you must pay an annual fee of $180 for the service.
Many items come included with this fee, such as your user login and dashboard, insurance, delivery costs, etc.
Users also get a report every three months, allowing them to track the performance and progress of their investments.
There are no charges for applying and opening an account with Lear Capital.
However, opening your IRA precious metals account requires a minimum investment of $7,500.
Starting An IRA With Lear Capital
Here’s how to start your IRA precious metals account with Lear Capital.
After filling in your application (which takes about ten minutes), their dedicated processing department verifies your information.
Once ready (and within 24 hours), you will get a confirmation.
Then a customer representative will enable your account, and your representative will guide you through the following steps, such as selecting coins or bars for purchase.
You also get descriptions of various options you can select from, including gold, silver, and palladium products.
After making your selections and being ready to buy, you get a 10-minute window to confirm your purchase before proceeding to checkout.
Once done, you can complete your payment within 48 hours through either check or wire transfer.
With a week of processing time for a wire transfer and two weeks for check payments, a wire transfer is the better method for those wanting fast transactions.
Finally, you’ll have to sign an agreement on shipping and transaction, and your purchase will be officially complete.
Get started with Lear Capital.
Tracking The Performance Of Your Portfolio
As an IRA custodian, the Lear Capital website allows users to check their investments’ progress.
With online access to your Precious Metals IRA account, you can track the performance of your portfolio and ensure that everything remains on track with your goals.
There are also quarterly statements to provide you with a better view of your investment performance.
You can also make direct contributions to your Precious Metals IRA, with a recurring schedule for automatic transfer from your bank account into the Lear Capital IRA.
This contribution provides an added convenience and allows you to control the money flow into your portfolio.
Will Lear Capital Buy Back My Coins If I Decide To Sell?
There is no guarantee of a buy-back from Lear Capital.
However, the current market price at the time you want to sell is the one that Lear would use to value your coins or bars.
Lear Capital Insurance
With an insurance policy backed by Lloyds of London, Lear Capital can guarantee your investments’ safety.
This insurance ensures you are protected from losses and have peace of mind knowing that your assets are safe.
Pros and Cons
Here are the good and the bad of investing with Lear Capital.
Pros
- Fixed fee – no hidden costs or fees by surprise.
- Online ordering is simple, fast, and secure – you can straightforwardly complete your purchase.
- Account opening is quick and easy – you can open an account with Lear Capital in just a few minutes.
- Professional customer care – get help whenever you need it.
Cons
- Volatility – precious metal prices can change quickly, so it’s essential to pay close attention to market trends before investing.
- Small amounts not allowed – if you have only a small amount to invest, it may be best to look elsewhere.
Wrap Up.
Investment diversification is the key to success in retirement planning and general investing.
Lear Capital is a company that allows you to diversify how you invest your resources.
Whether you’re a first-time investor or have experience investing in physical gold and silver, having an IRA account through Lear Capital can help you reach your financial goals.
Also, investing in precious metal coins can provide the advantage of tangible assets that are not affected by traditional stock market fluctuations.
As a disclaimer, always check current rates before making any investments, as the value of precious metals may change quickly over time.
Get started with Lear Capital.
Further reading on AdamEnfroy.com: Should you go for a gold IRA or invest in physical gold?
Knowing the difference between the two options can help you make the right decision.
Be sure to read up on gold IRA vs. physical gold investment to find out which option is best for you.
Here are a few other reviews of other companies that offer similar services to Lear Capital:
In the end, you should always do your due diligence and understand the risks associated with different types of investments before making any decisions.
