It is wise to diversify your investments and retirement funds, and one way to do this is to diversify by investing in precious metals. Here we’ll talk about Lear Capital, a precious metals dealer that has been in business for just over 25 years. We’ll bring you all relevant data on the company and discuss whether Lear Capital is a good option for people looking to invest in precious metals.
Lear Capital Company Overview
Lear Capital was founded in 1997 in Los Angeles, California, by Kevin DeMeritt, an international banking veteran, financial analyst, and financial expert. Since then, the company has made over $3 billion in trusted transactions, a testimonial of their rigorously high standards. They continuously offer high-quality services, including free IRA setup and storage for the first year, a guide with a free silver coin, a price match guarantee, and more.
The company has services in managing investments, financial security, precious metal investments, and retirement accounts management. They have excellent services and buy, sell, and trade physical gold, silver, rare coins, and bullion. After reviewing the features and services, Lear Capital offers, here we bring you the main highlights:
- Established: 1997
- Seated: Los Angeles, California
- Minimum Investment: $7,500
- Annual Fees: $260/$180
- Features: Precious metals IRAs and investments
- Products: IRS Approved Gold, Silver, Platinum, and Palladium coins and bars
- BBB Rating: N/A
- Special Offer: Referral Program
Other Company Info
Founded in 1997 by Kevin Demeritt Lear Capital is also known as Gold Central and Lear Financial Inc. Kevin has a background in International Banking and over 20 years of experience in the Gold investment sector. He is a regular participant in talk radio with over 1000 appearances, as well as a prominent tweeter and Linkedin member. The company is based in Los Angeles and has over 100 employees. One of the main aims for Lear Capital is to always put the consumer first let’s see if they do.
What Separates Lear Capital from its Competitors?
Lear Capital has strived to be one of the leaders in the precious metals industry, and the company has tirelessly worked on this assignment since 1997. They enjoy an excellent online reputation and boast that they’ve made over $3 billion in trusted transactions since their inception.
The company works with precious metals and facilitates the process of diversifying its clients’ investment portfolios by purchasing gold and silver bullion and premium and rare coins. They have streamlined the entire process by providing all the required services in one place.
Every Lear Capital client will get a personal account representative, a secure ordering environment, and a real-time investment relationship with their advisor, ensuring one will always be informed of spot prices, relevant news, and economic events that could affect your retirement portfolio and future plans.
The company has a Professional Coin Grading Service authorized dealer and an AAA rating with the Business Consumer Alliance. They stand by the NGC’s standards of integrity and support the ICTA issues of taxation, IRS regulations, and relevant legislation.
One service that distinguishes Lear Capital from its competitors is its Price Advantage Guarantee. They have an excellent price advantage guarantee that includes a written account agreement, a phone confirmation, and written confirmation of your precious metals purchase. They guarantee they have no hidden fees and disclose the entire precious metals acquisition process. Each Lear Capital client gets an assigned account representative that answers any questions on the acquisition of precious metals, providing excellent support and protection of the client’s retirement and savings.
Lear Capital Products and Services
Lear Capital offers a detailed list of products, including gold, silver, platinum coins, and bullion. At this time, Lear Capital has the following coins and bullion for sale:
| IRA-approved Gold | IRA-approved Silver | IRA-approved Platinum |
| $10 Liberty Gold Coin | American Silver Eagle | Platinum American Eagle |
| $20 Gold Liberty Coin | Canadian Silver Maple Leaf | Platinum Canadian Maple Leaf |
| $5 Liberty Gold Coin | Morgan Silver Dollar | Platinum Bar (1 oz) |
| American Gold Eagle | American Silver Eagle (proof) | |
| American Gold Eagle (proof) | Silver Polar Bear | |
| Australian Gold Kangaroo | Silver Peace Dollar | |
| Gold Polar Bear (proof) | Silver Polar Bear | |
| Gold Polar Bear & Cub | Silver Arctic Fox | |
| Gold Snowy Owl | Silver Polar Bear & Cub | |
| Gold Orca | Silver Snow Falcon | |
| Canadian Gold Maple Leaf | Silver Grizzly Bear | |
| Gold Buffalo | Silver Snowy Owl | |
| French 20 Franc | Silver Orca | |
| Gold Krugerrand | Silver Spirit Bear | |
| Austrian Gold Philharmonic | Silver Seated Britannia | |
| Gold British Sovereign Coins | Silver Dime (90% Silver) | |
| Gold Polar Bear (Canadian Mint) | Silver Half Dollar (40% Silver) | |
| Gold Arctic Fox (Canadian Mint) | Silver Half Dollar (90% Silver) | |
| Gold Snow Falcon | Silver Quarter Dollar (90% Silver) | |
| Gold Grizzly Bear | Silver Bars (10 oz, 100 oz) | |
| RCM Kermode Spirit Bear | ||
| Gold Bars (1 oz, 10 oz, 1 kilo) |
Lear Capital also works closely with each client to ensure they have all the knowledge when making an informed decision about their investments. They also provide a free IRA setup and storage options and offer a free evaluation of precious metals from others.
How to Invest with Lear Capital?
Lear Capital has made it easy for people to invest their IRAs with them, as they provide a free investor kit to any interested party. You only need to sign up on their official website and receive your free investor kit. If you decide to join Lear Capital, you will need to fill out the registration form, and a Lear Capital representative will get back to you to explain the entire process.
Lear Capital has a minimum investment requirement of $7,500, and you can do this by transferring your existing IRA portfolio or rollover your 401(k), 403(b), 457(b), pension plans, Thrift Savings, SEP, SIMPLE IRA or Roth IRAs to Lear Capital.
After you roll over your selected account to a precious metals IRA, you can select the coins or bars you wish to purchase. Your precious metals purchases are stored in the IRS-approved Delaware Depository vault. The Delaware Depository is one of the world’s most secure precious metals storage facilities, with impressive security measures and a comprehensive insurance policy.
Lear Capital charges a one-time setup fee of $280 and an annual fee of $200 for maintenance and storage services. The fee includes storage, insurance costs, quarterly financial statements, and 24/7 online account access.
Lear Capital Pros and Cons
After summarizing all the details we learned about Lear Capital, here are the pros and cons we consider are worth mentioning:
Pros:
- Precious metals IRA investments
- Excellent selection of gold and silver coins and bars
- Includes storage services
- Impressive online reputation
- An appealing customer referral program
Cons:
- High fees for small investments
- Primary focus on gold and silver coins
Products and Services
Lear Capital deals in precious metals, mainly Gold and Silver coins. These can be used as part of the portfolio. They also sell bullion and Numismatic Rare Coins they also serve as an agent to buy your existing portfolio if you should wish to sell at any time.
Website
They pride themselves on customer care as this is mentioned on nearly every page of the website which of course is always good to see as a potential client.
It is very easily navigated and there is good relevant information for you to find exactly what you’re looking for.
They have a page of testimonials from previous customers too which is great to see, although it’s only a handful currently. There are up-to-the-minute charts and comparison tools.
Social Proof
Founder Kevin takes the lead in this department through Twitter and Linkedin, although other social media networks are set up these don’t seem to be worked at all, so if you need to contact them I would best do this through their website.
Better Business Bureau
They have had 25 complaints closed with BBB since March 2013
BBB has determined that Lear has met all the standards for accreditation, which was achieved back in 1997. The rating has been calculated on the length of trading time, the response and resolution to the 25 complaints by consumers against the company, and that it has sufficient detailed information about the business.
The complaints have been as follows for advertising and sales there are 9, billing and collection of only 3, delivery only producing 2, and products and services coming out on top with 11. According to Better Business Bureau, there are NO government actions or advertising reviews ongoing at present.
Lear Capital currently holds an A rating.
Business Consumer Alliance
With 38 responses to complaints over the last 3 years, Lear Capital has been a charter member of the Business Consumer Alliance which is one of the most reliable sources when it comes to consumer feedback, since 1997.
Their page had nearly 15,000 views when I investigated. They currently have a AAA rating. They have agreed to make adjustments on 17 cases with 5 being refused. 16 cases were given a full refund.
The Complaints Board
The complaints board is one of the most trusted and popular consumer complaints websites. There have been numerous reports about Lear Capital dating from as recent as March 2014 and dating as far back as 2010.
We have supplied a link below for your convenience should you wish to look at these in more detail.
The Bottom Line: Lear Capital Is an Excellent Precious Metals Dealer
Lear Capital has been in the precious metals business for 25 years, and the company has built an excellent online reputation and has made over $3 billion in transactions. Financial experts and veterans run the company in financial analytics and investment planning; they employ knowledgeable personnel that builds an open and transparent relationship with every client. Overall, Lear Capital is a good option if you plan to diversify your IRA into precious metals.