Years in Business | 26 (founded in 1997) |
Minimum IRA Investment | $7,500 |
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Lear Capital is a precious metal investments company founded in 1997. The company has a AAA rating with the Consumer Business Alliance. It’s also a Professional Coin Grading Service authorized dealer, which means it guarantees authenticity and grading accuracy. Lear Capital has a score of 4.9/5 on Trustpilot with over 1,000 reviews, and an A+ rating with the Better Business Bureau.
This established investment company sells bullion and premium rare coins and offers precious metal IRAs. For those purchasing physical gold or silver, Lear Capital offers a storage facility. When setting up an IRA, you have the option to roll over your previous IRA into your new account. Lear Capital also has a referral program that allows you and the person you referred to earn a 1.5 oz silver coin. Plus, its app enables you to easily check and manage your portfolio.
Lear Capital is suitable for anyone who has at least $7,500 to put toward an IRA, though the company occasionally offers “specials” where you can open an account with less money. Applying for an IRA with Lear Capital only takes about 10 minutes, so it’s also an excellent choice for those who want an easy and seamless setup process.
All of Lear Capital’s precious metals are stored in the Delaware Depository, making it a secure option for storing your assets.
The company’s website offers comprehensive learning resources. This makes Lear Capital suitable for those looking to learn about precious metals and closely track the performance of their assets. When you open an IRA, you will be assigned a personal representative who can answer any questions you have regarding your account.
Lear Capital charges a $280 one-time payment for your first year, which covers account setup and maintenance. Thereafter, you’ll pay a $200 annual fee for your self-directed IRA.
You may receive a fee waiver depending on how much money you put in your IRA. Here are the details.
| Initial Amount in Account | Fee Waiver |
|---|---|
$25k-$50k | First year |
$50-$75k | First two years |
$75k+ | First three years |
To get started, head to the IRA section on the Lear Capital website and enter your details to apply. Once your account is approved, a customer service representative will help you decide which assets to purchase and roll over your existing IRA, if required.
Lear Capital offers a price match guarantee. After you purchase precious metals from the company, you’ll be sent an invoice. You’ll be given 24 hours to look it over and research if you could’ve purchased the metals at a better price. If you find a lower price, Lear Capital will match or beat it. If the price can’t be matched or beaten, you can cancel the transaction at no extra cost.
Lear Capital offers support via phone and fax from 9am to 6pm PST.
Its high scores on Trustpilot and the BBB show that Lear Capital is highly regarded for its customer service, and its website backs that up. It has a robust FAQ page and offers two investor guides that you can receive via email. One guide walks you through the details of precious metal investing and the other covers setting up and maintaining your gold IRA retirement account.
There’s also a free newsletter that includes market insights and special offers, plus a news section and price chart—both of which can be viewed for free on the website.
Q: Does opening a precious metal IRA with Lear Capital mean you actually own physical metal or is it just a certificate?
A: Opening a precious metal IRA with Lear Capital means you actually own physical precious metal, which is stored at a secure, IRS-approved facility.
Q: How do I roll over another retirement account into my precious metal IRA?
A: There are several options for rolling over another retirement account into your precious metal IRA. However, the process can be quite complicated, which is why Lear Capital offers personal representatives to help you choose a rollover method and get the money switched over.
Q: How long does it take to set up a Lear Capital precious metal IRA?
A: It takes around one business day to open a precious metals IRA and receive a new IRA number. How long it takes to roll over your retirement account varies and depends on your current IRA custodian. On average, you can transfer your funds within five business days.
Lear Capital is an excellent option for those looking to open a precious metal IRA or purchase physical gold and silver. Whatever option you choose, your assets will be stored at a secure facility. While the price to set up with Lear Capital can be a bit steep, you’ll get a good discount if you have enough money to put into your account. Signing up for an account is easy and can be done in as little as 10 minutes. Overall, Lear Capital is a great gold investment company for beginners. This is because each client receives a personal customer service representative to help them with account opening and maintenance.
This review was compiled using information from the Lear Capital website, customer reviews from Trustpilot, and the Better Business Bureau consumer protection site.
