Lear Capital – Gold IRA Company Review
Company: Lear Capital
Trustlink Reviews: 4.5 stars, 320 reviews
Annual Fees: unlisted
Minimum Gold IRA Investment: unlisted
Phone: (800) 576-9355
Address: 1990 S Bundy Dr #600, Los Angeles, CA 90025-5256
Lear Capital has been a leader in Precious Metals since 1997. Lear specializes in helping their clients purchase numismatics, bullion, and Gold & Silver IRAs.
Lear has an A+ rating with the BBB and is a PCGS (Professional Coin Grading Service) authorized dealer. Lear does in house coin grading accuracy and authenticity for their numismatic rare offerings. Lear follows the strict code of the NGC’s (Numismatic Guaranty Corporation) coin grading standards, and supports the ICTA (Industry Council for Tangible Assets) on issues of taxes, IRS rules, and legislation.
Lear Capital is a big player in the Gold IRA industry for good reason. They have been operational since 1997. For all of Lear’s praises, we must also look at the complaints they have received. It is important to note that they actively resolve and rebut issues documented on the ripoffreport.com. So we will choose to ignore those complaints. We have chosen to put Lear towards the bottom of the best Gold IRA companies review ranking due to a tarnished reputation based on BBB customer complaints regarding upselling and bait and switch tactics. They do a good job of resolving issues, but there are some complaints that don’t seem to have a clear resolution:
- Based on customer reviews across the BBB – Lear Capital has been reported to have issues with sales, billing/collection, products & services:
- Here is a customer complaint alleging issues with advice on products from June, 2016: “Alex switched for bullion gold coins to numismatic coins, saying both Maple-leaf and Snow falcons were similar. Added transaction cost was $177,000. Transaction Date 6/10/2016” – bbb.com
- Here is a serious complaint regarding bait and switch tactics from July, 2016: “Lear Capital used Bait and Switch to get me to purchase a coins that they Charged 33 percent Commission on instead of a coin with 3% commission My $70,000 investment with Lear in now Worth $43,00 in 3 weeks. At the very end of the deal they did a BAIT AND SWITCH. They Convinced me to purchase Canadian Silver Falcons instead of Canadian Maple Leaves. As a result I was charged a 33% COMMISSION”
- If you are looking for a Gold IRA, it would be advisable to go with a company that only deals in IRA approved precious metals, especially for your Gold IRA. The Gold IRA Rollover information on the Lear website is excellent, however Lear does not solely focus on them.
- Where Lear also lacks is with a quick online Gold IRA account setup. In todays digital world, it is preferred to have control of your IRA application online, right from your phone, tablet or computer browser, 24 hours a day. However, they do allow for customers to get the ball rolling by intaking essential contact information, then following up to work out the details.
For those who are first time precious metals investors looking for a simple Gold IRA solution, Lear is probably not for you. Where Lear shines is with excellent information regarding precious metals products, a broad selection of gold and silver and a lengthy track record. It is clear that Lear Capital is a high volume dealer in precious metals products, but it is unclear what their competitive advantage is with regards to a specific Precious Metals IRA / Gold IRA.
Features and Benefits
- Online account login and management
- Broad precious metals selection
- Long history as a Precious Metals Dealer
- Customer Service
- Referral Program
Products and Services
- Gold, Silver, Platinum and Palladium coins and bars
- Precious metals IRAs
- Secure Storage from TDS Vaults
- Investor resources
- Historical Precious Metals pricing charts
- Robust FAQ section on their website