Lear Capital has been in business since 1997. For over 21 years they have completed $3B (Billion) in trusted transactions, nearly 6x as much as the closest competitor on this list. They seek to educate and support investors in building and maintaining truly diversified portfolios by offering the largest selection of investment grade products and a full service experience. They believe allocating a portion of your portfolio to precious metals is the best strategy for long-term stability and growth. They provide the tools needed to buy and sell bullion, rare coins, and physical gold and silver, including ample educational resources and transparent shipping and pricing policies.
The Lear Capital Website | The Best Resource Online
The website is packed with good information and resources for the precious metals investor. It offers informative, but concise articles, a free precious metals guide, retirement account guide, and RMD calculator tool. The site also features a “Smart Tools Suite” offering a news blog, premium coin analyzer, historical chart center, portfolio comparison calculator, and live precious metals spot prices. Lear Capital “strives to maintain the best presence on the web of any gold site” and they certainly deliver. Since discovering this website, I find myself checking it often, and have subscribed to updates on the blog.
Main site features include:
Buy Gold & Silver Coins Tab – real time pricing investors need on the most popular precious metals. All metal products are available for purchase in the store 24 hours a day.
Gold & Precious Metals IRAs Tab – deals with questions about retirement accounts, plan requirements, and different strategies to maximize retirement income with precious metals.
News & Investor Resources Tab – this is the main education section of the website, offering free, real time gold and silver spot prices, 24-hour spot gold, silver, platinum and palladium charts going back up to thirty days, as well as the news blog and download section with all their policies, which you should read carefully before getting involved to clear up any potential misunderstandings down the road. It seems like the few complaints this company does have would not have happened had the investors simply read and understood these policies.
Other Investor Tools:
Precious Metals Portfolio Encyclopedia – provides free access to detailed information regarding all of the popular American coins, including photos.
Lear Learning Center Tab – like an FAQ on precious metals investing, this section offers a wide variety of useful articles. Topics like risk management, storage, precious metals basic concepts and terminology, disaster preparedness, etc.
Keeping You Informed Video Series – these videos delve deeper into facts and history of investing in precious metals, covering such topics as the 1933 Gold Recall.
Precious Metals IRA Leaders
Lear completes more precious metals IRA transactions than the bottom 5 companies on the list combined. Their full service offerings means that your IRA is usually completed in 48-72 hours. By far the fastest processing in the industry. Their gold and silver offerings are expansive and they also offer exclusive products not found at other companies.
The Lear Price Advantage
Lear Capital has a three-step Price Advantage Guarantee includes a written account agreement, a phone confirmation, and a written confirmation of your precious metals purchase, which ensures total transparency, no “gotchas” or surprises with pricing.
They also offer a thirty-day price guarantee when you open an account or transfer a portion of your IRA into a new Gold or Silver IRA. If the price of your metals drops within 30-days of opening that account, Lear Capital will adjust the value of your IRA to the market. This gives great peace of mind, however, you should note the fine print that restrictions do apply and not all IRA’s are eligible. Additionally, Lear Capital will pay up to $500 (based on qualifying purchase amounts) of the IRA set-up, annual maintenance and IRA custodial fees for new customers who purchase or transfer precious metals worth $5,000 or more for an IRA.
Lear Capital offers various incentives from time to time, like free or discounted shipping, which can be a huge, but very necessary expense when shipping something so valuable, so a shipping discount is a major plus. Currently they are offering a $100 precious metals certificate, valid for new customers making a premium precious metals purchase of $5,000 or more. The certificate can be applied to a subsequent purchase. Lear Capital account representatives can provide specific details about any special incentives on offer when you purchase.
Lear Capital Ratings, Complaints and Customer Reviews
Lear boasts the highest tally of online reviews of any American retail precious metals dealer.
Consumer Affairs: 900+ Reviews and a 4.8/5 Rating
TrustPilot: 300 Reviews and a 4.7/5 Rating
TrustLink: 250+ Reviews and a 4.6/5 Rating
Google: 60+ Reviews and a 4.2/5 Rating
Yelp: 40+ Reviews and a 4.2/5 Rating
Better Business Bureau: A+ Rating
Lear completes nearly 1,000 transactions per month. Though 999 of them are satisfied, Lear Capital has averaged almost 1 complaint per month for the past 3 years according to the BBB, Most complaints involve a delivery that took an extra day or two to arrive.
Lear Capital Lawsuit and Complaints
Lear Capital settled a lawsuit with an 81 year old woman in 2012. Lear’s CEO at the time offered a full refund to the client, which was refused. Lear later won the case yet still settled with the former client ensuring that she would receive the full refund though the results of the case did not call for the refund.
Beyond the occasional delay in shipping, which has never exceeded a week from the online posts I have reviewed, Lear has less than a 1% complaint record.
From my perspective, Lear has been working very hard to counteract these criticisms and make sure they are transparent with their pricing, upfront with their policies and fair in all their dealings.
Lear Capital is the largest precious metals dealer in America for a reason. Their customer service, pricing and online tools are unrivaled. They boast the most IRA transactions of any company, the annually outsell the bottom 50% of retail metals dealers on this list combined. They make precious metals purchases easy and painless and we happily recommend their services.
Standard Fees: Not currently listed on their website.
BBB: A+, 32 complaints out of nearly 34,000 transactions.
Consumer Affairs: 900+ reviews and a 4.85/5 rating.
Address: 1990 S Bundy Dr #600 Los Angeles, CA 90025-5256
This Lear Capital review was updated March 31, 2018
-In business since 1997. -Top Rated Precious Metals Dealer -Over $3B (Billion) in Trusted Transactions -United States Mint Approved -Canadian Mint Approved -Most Experienced Sales Reps -Full Service Brokerage -100% Buyback History -Founder Involved in Day to Day Operations
-No Credit Card Processing Online