Learcapital.com Review

Lear Capital has been in the business of selling and buying gold and other metals since 1997. With its over 16 years in the metals investing industry, the company helps its customers in diversifying their portfolios by obtaining bullion, premium rare coins, and/or physical gold and silver to an IRA (Individual Retirement Account).

In addition, Lear Capital’s exclusive Buy Back program allows customers to sell their gold and other metals – while being able to see the exact buy and sell price for specific assets. Likewise, Lear Capital offers very competitive pricing on gold and silver, along with complete transparency in its purchases and sales.

The company’s Price Advantage Guarantee includes a written account agreement, a telephone confirmation, and a written confirmation of the actual metals that the customer purchases. The company does not charge any hidden fees or commissions.

Lear Capital Company Facts

Business Started: Lear Capital began its operations in 1997.

Business Category: Precious Metals Dealer

Alternate Business Names: At this time, we found no alternate names under which Lear Capital is operating.

Location: The company is based in Los Angeles, California.

Physical Address: 1990 S. Bundy Drive, Suite 600, Los Angeles, California 90025

Telephone Contact Information: Toll-free 1-800-576-9355

Hours of Operation: Monday through Friday between 9:00 a.m. and 6:00 p.m. Pacific Time.

Products Offered

Lear Capital specializes in selling gold and silver coins. Some of the top sellers in the gold coin category include:

  • American Gold Eagle
  • British Sovereign
  • Canadian Maple Leaf
  • Austrian Philharmonic

Top selling silver coins include:

  • Silver Canadian Maple Leaf
  • Silver American Eagle
  • Silver Round

Many of the metals products that are offered through Lear Capital are IRS approved for inclusion in a gold or precious metals IRA (Individual Retirement Account) account. These items are featured in Lear Capital’s online “IRA Eligible Coin Gallery,” and they typically include items such as the Proof American Eagle, American Eagle, Gold Canadian Maple Leaf, Austrian Philharmonic, and the Gold Polar Bear. Gold bullion bars that are .995+ fine, as well as silver bars that are .999+ fine are also approved for investment in precious metals IRA accounts.

Customer Service

Lear Capital’s customer service reps are available to help their customers with opening an account, as well as answering questions about how to invest in the various metals that are offered through the company. Methods of contact include email, as well as toll-free telephone line. Hours of operation are between 9:00 a.m. and 6:00 p.m. Pacific time.

One key aspect of Lear Capital’s customer service is the fact that the company provides its customers with a personal account representative, as well as a secure ordering environment and a real time investment relationship that keeps investors updated on news, pricing, and economic events that can have an impact on their financial futures.

Lear Capital also offers educational materials for new metals investors, or for those who simply wish to learn more in-depth metals investing strategies. The company offers a regular newsletter, as well as a Precious Metals Guide that discusses current news and trends within the metals investing arena. Site visitors simply need to provide their name and contact information in order to receive this free information.

Lear Capital Gold / Precious Metals IRA Account

Many of today’s investors are also taking advantage of the appreciation potential of having gold within a tax-advantaged IRA (Individual Retirement Account) by setting up a precious metals IRA. Investors can begin the process of setting up an IRA account with Lear Capital directly on the company’s website.

Once the account is has been opened, it may be funded either through a transfer of assets from another IRA, or by purchasing metals through Lear Capital and holding them within the account. Through Lear Capital, new IRA account holders can receive up to a $250 bonus when they transfer a portion of their current IRA into gold or silver. This is based on qualifying purchase amounts for those who transfer precious metals that are worth at least $5,000 or more into their IRA account.

Buying Gold and Other Metals from Lear Capital

When purchasing gold or other metals through Lear Capital, purchases can be made directly through the company’s website. Lear Capital provides free shipping on orders placed online that are over $10,000. The company also provides a Shipping and Transaction Agreement directly on its website that outlines how customers’ precious metals will be delivered, as well as information on the company’s metals buy-back program.

When selling metals to Lear Capital, prices for each type of metal that the company purchases are listed on the firm’s website in real time during market trading hours. This can help site visitors to get a better idea of how much their items are currently worth.

Prices for items that Lear Capital is selling are also listed on the company’s website in real time during market hours. It is also possible to pull up historical charts, and to view custom charts on the company’s site.

In some cases, it will be necessary for customers to call the company directly during its hours of operation in order to get the most up to date pricing information. Some investors may also wish to download the company’s “ExactPrice Desktop Widget.” This can help to keep investors abreast of gold prices in real time. This tool is offered for free and it can be viewed online – including from mobile devices, as well as downloaded to a desktop and shared online.

In order to assist both new and experienced metals buyers, Lear Capital provides a great deal of educational material on their website, as well as for order. These materials include free reports, as well as regular newsletters that customers and site visitors may subscribe to.

Lear Capital Scams and Customer Complaints

Because no company is able to satisfy 100% of its customers, Lear Capital has received its share of complaints. Some of these have focused on the company’s high commission schedule, such as:

“In September of 2009, my mother-in-law contacted Lear to buy gold after seeing their ads on Fox News. She and her husband are living on Social Security and whatever income they can generate from their assets. That same month, she purchased 47 numismatic gold coins from Lear in two installments for $108,719. Of this amount, $21,775 was the ‘spread’ that represented the difference between her purchase price and Lear Capital’s cost, which is approximately 25%.”  - scambook.com

Other Company Testimonials and Reviews

Lear Capital also has many satisfied customers. Here is what some of them have to say:

“My representative is Victor DeRose. He rates an A+ in every category of the questionnaire. I had tried to purchase some coins from another company. They were so rude I just hung up the phone. I was delighted to find Victor and his professional, kind, and helpful manner. I am recommending him to friends. All in all, my first experience buying metals was a wonderful one. I hope to purchase more as time goes on.”  – Polly Gable (source)

“My order was entirely online. I did not deal with a Lear rep. I am very impressed with Lear Capital and its low fees. Keep up the good work.”  – Karl Warner (source)

“I don’t usually write letters such as these, however I felt it necessary to thank you for the wonderful service Lear Capital provides. I was shopping for a company with whom I might build a relationship in order to purchase Olympic Gold Eagles and other bullion as well as numismatic coins. I perused many websites and was impressed with yours in regard to content and the transparency of your pricing; other companies appeared to lack the professionalism and honesty that Lear Capital provides, but just to be sure, I checked out one of your competitors. When I initially called, I was quoted prices by the sales person which seemed somewhat reasonable but not as low as yours. When I met with the salesman, I found the pricing had changed and I asked to speak with the sales manager. I was kept waiting for almost an hour. After talking with him for a few minutes I realized that their pricing policy is “whatever we can get”. As a former President of a service company that grew from 30 employees and $4 million in revenue to $40 million and 170 employees, I know quite a bit about value and customer service. These two qualities are essential for a business relationship to successfully grow and prove mutually profitable and that is why Lear Capital is the company with whom I do business and one I would recommend highly.”  - Steven B. (source)

Lear Capital Ratings

Prior to purchasing gold or metals from any dealer – especially those that sell online – it is important to check the ratings of that company from third party organizations.

Better Business Bureau

Lear Capital has received a rating of A+ from the Better Business Bureau (BBB). Although it is important to note that the company has received and closed 15 complaints since March 10, 2013.

The bulk of these complaints have revolved around issues with the company’s advertising and sales. Other complaints focused on billing and collection issues, delivery issues, and problems with the company’s products and / or services.

TrustLink

Lear Capital has a 4-star rating (out of 5) from TrustLink, and it is a preferred member of this organization. The company currently has 179 reviews posted on the TrustLink site.

Business Consumer Alliance

The Business Consumer Alliance (BCA) has given Lear Capital a rating of AAA.

Lear Capital Advantages and Drawbacks

One of the key advantages of Lear Capital is the fact that is has a top rating from the Better Business Bureau (BBB) and from the Business Consumer Alliance. It also abides by the coin grading Standard of Integrity.

In addition, Lear Capital is a Professional Coin Grading Service (PCGS) authorized dealer. The company also supports the Industry Council for Tangible Assets’ (ICTA) issues on taxation, as well as IRS (Internal Revenue Service) regulations as they relate to tangible assets.

Yet, even with all of the positive ratings and affiliations, Lear Capital has received 13 complaints just since March 2013. These complaints have primarily been due to advertising and sales issues, problems with the company’s products and/or services, delivery issues, and billing and collections.

The Bottom Line

Lear Capital offers a great deal of information and products on their website. Yet, even though the company has well established business practices, having more than a dozen complaints filed in just six months could present an issue for investors. With this in mind, gold and other metals investors may do better to go with a company such as Regal Assets that has a far lower ratio of complaints, as well as wider supply of online inventory.