Lear Capital Review
Saturday, December 9th 2023
If you want to set up an IRA, especially a gold IRA, you want to make sure that you are working with a trustworthy company. There are a lot of companies out there to pick from. In this evaluation blog post we are going to tell you about one of your many choices, Lear Capital, the metals leader in the industry. With their claim that they help everyone from experienced to novice investors to set up a diverse retirement plan, they might just be the company that you want to turn to regardless of your starting capital available. By the end of this review you will have an idea of whether that is true or not.
Table of Contents
Lear Capital: An Experienced Business
Lear Capital has been in business since 1997 has helped myriads of clients diversify their portfolios into both gold and silver. Unlike some other precious metal IRA companies, Lear Capital not only helps you to set up an IRA backed by metals but they sell precious metals such as silver, gold, palladium and platinum. This allows you to get everything you need to set up your account all in one place. Lear Capital is as a gold dealer Numismatic Guaranty Company member which means they take coin grading seriously (they are also certified by the PCGS).
The company claims that their staff of precious metals assets member managers are expert at helping everyone through the process of setting up an account. From the most advanced investors to people who have never even heard the term precious metals IRA in their life.
► IRAs Offered to Customers
With a bit of research you will find that there are three different types of IRAs to invest in for your retirement. Traditional IRAs, Roth IRAs, and Rollover IRAs. Each of these three different types of IRA have a different purpose.
- Traditional IRAs: You deposit retirement savings into these IRAs before tax has been taken out and the tax is deferred until you start taking withdrawals.
- Roth IRAs: In these IRAs you invest money after it has been taxed so that there is no tax when you withdraw the money.
- Rollover IRAs: This kind of IRA account is the result of taking another type of retirement account and moving it into an IRA.
Most people fund their IRAs with stocks that they buy with paper money (aka the money from their paychecks). Despite that being the most common funding method, you are not limited to having stocks in an IRA. They can also be funded by precious metals such as silver, gold, palladium and platinum. Precious metals are a great way to diversify your retirement as they perform really well when the rest of the economy is not.
The process of setting up these accounts is not the same as a traditional IRA. Lear’s job is to help guide you through the process of setting up a precious metal IRA from the beginning to the end.
Lear Capital helps you decide what metal is right, guides you through the IRA set up process, the purchases process, and arranges the transfer of your precious metals to a custodian and all transactions.
►Investments & Products
Lear Capital provides various products and services related to gold, silver, platinum, and palladium. As these offerings may change with time, always refer to Lear Capital’s official website or contact them directly for the most updated information. Here is a list of some typical precious metal offerings provided by Lear Capital:
Coins: Capital offers various varieties of bullion and numismatic gold coins, including popular selections like the American Gold Eagle, Canadian Maple Leaf coins and other capital gold choices.
Gold Bars: Lear Capital also offers choice with various-sized gold bars ranging from one gram to one kilogram in purity of 99.999 pure.
Silver Products and Coins
Lear Capital also provides various silver coins such as American Silver Eagle and Canadian Maple Leaf coins to keep investors up-to-date with market fluctuations and investment options.
Silver Bars: As with Gold and Silver bars, these also come in different sizes and purities.
Lear Capital may offer platinum and palladium coins and bars as offerings, although retail investors usually shy away from investing in those metals and keep their purchase power directed towards gold, which is the only precious metal that was tied to a reserve currency.
Precious Metals IRAs
Lear Capital offers services to enable investors to acquire precious metals as IRA assets. This may include gold, silver, platinum and palladium products meeting certain purity and fineness standards.
Lear Capital can also offer collectible coins investments with special value that extend beyond metal content and quality alone – they may have rarity, condition and historical importance as well.
Lear Capital’s storage solutions and service enable investors to safely secure their precious metal investments within vaults or a depository, helping customers protect them for maximum returns on their investments.
How to set up a Gold IRA account with Lear Capital
Step 1: Lear Capital form
Step 2: Decide on the metal and amount
Step 3: Open your account via Lear Capital
Precious metal IRAs of all kinds require your metals to be stored in an approved facility. This protects your investment through security and insurance.
► Investor Toolkit at Lear Capital
Since Lear Capital opened its doors, the company has been working to make informed investors. To do this they have built up a toolkit for you to learn about retirement savings, precious metal IRAs, and others. The best tool that you have at hand is the personal account representative that works with you to establish your account and keep you informed on ways to grow your wealth.
Another great tool they have is market insights, data, info and breaking news, all through the Lear Capital website. You won’t have to go searching for all of the information that you need to set up your account. Along with that is coin search tool to help you find what you are looking for. Lastly, you can get price notifications through Lear Capital to know when it is the right time for buying or selling and let your capital work for you despite the volatility of the markets.
► Lear Capital’s Website
Lear Capital’s website is their business face. That means the website is key. Lear’s website is exactly what you would expect if you were looking to go to an investing site. The website is easy to navigate, read through, and contains myriads of helpful information.
Alongside resources on IRAs Lear also offers a Smart Tools Suite that gives you access to many of the tools that Lear Capital has set up to help their customers with their searches.
The Main Features:
- Silver and Gold Coins Purchase: As an investor, you can purchase both silver and gold coins directly from the Lear Capital store on their website, at any time of the day and night. Whether you are looking to purchase silver and gold by itself or make a capital investment to hedge inflation, you can use the Lear Capital site.
- Gold and Precious Metals IRA Information: Under the tab for gold and precious metal IRAs you can find all of the information you need to know about creating one of these investment accounts. That includes details on the requirements of IRAs and the regulations around them. Being able to stay up to date on the market is essential. With this tab you can do exactly that. Lear Capital posts articles on the state of the gold and silver world around the clock and price charts analysis. Lear also has a system for listing of real-time values for gold and silver, known as the spot prices, the current supply and demand volumes, and about the industry council latest recommendations, all to be found in their investor news section.
Other Helpful Website Resources:
- The Encyclopedia: You will find detailed information on every aspect of the investing world in the encyclopedia on Lear Capital’s site. From definitions to examples, what you need for your investment decisions can be found in there from the comfort of your home.
- Learning Center: In the learning center you will find more information on investing in the form of an FAQ. There are also links to some of the many helpful articles that Lear Capital has written on investing to make you more informed investor.
- Video Education Series: You will also find as part of their investor kit a video series on the Lear Capital site to help you learn. This can be great for those who learn better by watching and listening. You can also find some topics and information that are not available elsewhere.
► Lear Capital Advertising
If you still watch television with commercials you may have noticed Lear Capital’s commercials. Lear pushes their precious metal IRAs to the public in over 200 commercials every 30 days. Some label their commercials as aggressive.
The commercials you might have seen represent precious metals as a sure thing, an investment that will get you great return, which is a concern. Precious metals can do that, but they are just like all other investments when debt levels are on the rise, often the tipping point to market turbulence or uncertainty around this asset class. There are points in time where gold and other precious metals do not perform well, they can be volatile just like other investments.
► Costs with Lear Capital
Buying with Lear Capital can be done via check, money order, credit cards, cashier’s checks, in addition to bank wire transfers. If you go to the store in person you can also pay with cash to complete the transactions. The exact cost of precious metals varies greatly on the metal but also on the current value, checking the Lear Capital website will show you their current prices for each precious metal item they trade. IRA set-up fees are also listed on the website, although they vary depending on each IRA setup. Finally, Lear Capital claims to offer a price match and purchase guarantee on their “Lear advantage IRA”.
Shipping is charged on all orders below $10,000 and is completed within 17 business days, if not sooner. Orders over $10,000 ship for free. There is also a $160 yearly fee for precious metal storage and the insurance charges that comes with it. The rest of the fees depend on the account that you set up and what you have stored in it, which will impact the total cost.
Lear Capital Ratings on Consumer Review Sites
Lear Capital’s rating can be found on several customer review sites around the internet. On the Better Business Bureau they have 38 complaints that have been closed, showing that Lear is willing to work with clients who may not be happy following their recommendations. All of the claims were reported as being responded to satisfactorily but the main complaint among those who submitted reports to the BBB was a lack of communication with the company. At the time of writing this article, the company has thousands of 5 star reviews on TrustPilot.
The Final Say
In the end, Lear Capital has been in business for over twenty years and during that time, they have become a big name in he precious metal world. The LCI company has completed over 2 billion dollar in precious metal sales, making it one of the most popular gold IRA companies to choose in America. Lear also makes it easy to manage your investment capital, has a team of great employees and a good track record. As a company, they have earned their place in the industry for a reason.
Other Great Gold IRA Deals available for December 2023
Frequently Asked Questions about Lear Capital (FAQ)