If you’re searching for trustworthy “Lear Capital reviews”, then you’re in the right place. In a marketplace crowded with precious-metals firms promising wealth protection, hedge strategy and retirement security, understanding exactly who you’re working with is critical. In this comprehensive article we’ll take you through the full story of Lear Capital, Inc.: what it offers, who owns it, how its process works, what real customers say (good and bad), and crucially whether it truly deserves a place in your portfolio strategy. By the end you will have the tools to decide whether Lear Capital is a good fit for you — or if you should look elsewhere.
What Is Lear Capital?
Founded in 1997, Lear Capital is a U.S.-based precious metals firm whose stated mission is to help investors diversify their portfolios by adding physical gold, silver, platinum and palladium — either outright or via a self-directed IRA. The company markets itself as a one-stop solution for those who want to realign asset allocation, hedge against global volatility, or add tangible retirement protection.
In essence:
- Buy bullion (coins or bars) of gold, silver, platinum or palladium
- Acquire “premium/rare” coins
- Add physical precious metals to your existing retirement account (i.e., a “Gold IRA”)
- Arrange insured storage (for IRA or “home delivery”)
Customers often praise Lear Capital’s experienced staff and high service ratings. However, there are also recurring complaints: lack of pricing transparency, hidden fees, and aggressive sales tactics. Notably, Lear Capital has been involved in regulatory actions: multiple states’ securities regulators allege deceptive practices, and as part of its restructuring/settlement the company agreed to pay restitution and change its business practices. (Beverly Press & Park Labrea News)
So yes — Lear Capital is legitimate in the sense that it is operating, currently accredited, and has many satisfied customers — but “legitimate” doesn’t automatically mean “risk-free” or “the best possible choice.”
Who Owns Lear Capital?
Here are the key ownership and corporate-structure facts:
- Founder & Chairman: Kevin DeMeritt founded Lear Capital in 1997 and currently holds the position of founder & chairman.
- Headquarters: Lear Capital, Inc., 1990 South Bundy Drive, Suite 600, Los Angeles, CA 90025.
- Since its founding over two decades ago, Lear has grown into one of the larger firms in U.S. precious-metals retail/IRA space.
- The company is accredited by the Better Business Bureau (BBB) since 1997.
Knowing the leadership helps you judge durability and accountability. DeMeritt’s long-standing involvement suggests continuity but also means you’re implicitly trusting a stable, but specialized, operator.
Lear Capital Products & Services
Products
- Gold coins or bars
- Silver coins or bars
- Platinum and palladium coins or bars
- Premium/rare coins (higher-numismatic value)
Services
- Self-Directed IRAs (including “Gold IRAs”) — allows you to hold physical metals in a retirement account.
- Storage: Use of IRS-approved, insured depositories for IRA assets.
- Market data & price alerts: Lear Capital offers updates, tools and newsletters to help you stay informed.
- Free evaluation of existing metals: If you already own metals from other sources, the company may offer to examine/quote them.
These offerings mean that whether you’re buying for direct delivery (to your home or vault) or saving for retirement via an IRA, Lear Capital has a relevant service tier.
How Does It Work?
Here’s a step-by-step breakdown of the process if you decide to transact with Lear Capital:
Step 1: Contact Lear Capital
- Call Lear Capital to initiate the process.
Step 2: Consultation & Selection
- A representative will ask about your investment goals (hedge, retirement, diversification, etc.).
- They’ll show you available metals (gold, silver, platinum, palladium) coins/bars, IRA eligibles.
- If doing an IRA, they’ll help you discuss rollover or transfer options.
Step 3: Finalize Purchase
- Discuss payment methods: wire transfer, check, etc.
- Lear Capital claims a “Price Advantage Guarantee” (written agreement + phone confirmation + written confirmation).
- You sign off on the metals, price, fees, shipping/storage arrangements.
Step 4: Delivery / Storage
- If direct purchase, Lear will ship the metals securely and insured.
- If IRA purchase, the metals are stored in an IRS-approved vault (typically segregated, insured).
- Documentation and tracking are provided.
Pros of Lear Capital
Here are some of the major strengths gathered from multiple sources:
- High customer ratings: For example, Lear Capital holds a 4.9/5 rating on Trustpilot.
- Knowledgeable staff: Many reviewers praise Lear’s account executives as patient, helpful and informative (especially for first-time buyers).
- Smooth process: Testimonials often say the transaction from inquiry to shipment/storage was “easy” and straightforward.
- Established firm: Founded in 1997, Lear Capital has a long history in the precious metals industry and has processed billions in transactions.
- Accredited: BBB accreditation, positive review presence.
These pros indicate Lear Capital might be a strong choice if you prioritize personal service and an older, experienced company.
Cons of Lear Capital
No firm is perfect. Here are the main weaknesses and caution-points:
- Pricing transparency concerns: Some customers allege they weren’t clearly told about mark-ups, fees, or how spreads worked — for example one BBB complaint claimed a near-50% loss due to unexpected fees.
- Aggressive sales tactics: Some reviewers mention feeling pressured into purchases, or being offered high-markup coins instead of simpler bullion. For instance, on Reddit:
“Some of the reviews I’ve read mentioned hidden costs, especially for first-time buyers who didn’t know what questions to ask.” (Reddit)
- Regulatory and legal history:
- In 2021, the New York A.G. sued Lear Capital for allegedly charging undisclosed commissions (up to 33 %) on millions in sales. (New York State Attorney General)
- A settlement with the City of Los Angeles for $2.75 million demanded changes to business practices. (Beverly Press & Park Labrea News)
- Lear filed for Chapter 11 reorganisation in Delaware. (cases.creditorinfo.com)
- As part of the bankruptcy/settlement plan, $5.5 million was allocated for refunds/distributions to investors across multiple states. (Iowa Insurance Division)
These cons suggest that while Lear Capital can be a viable option, you must approach with due diligence: ask detailed questions about fees, mark-ups, buy-back policies, delivery timing, and whether you are paying over “spot” by large margins.
Customer Reviews & Ratings
Here is a snapshot of how Lear Capital is viewed by customers and review platforms:
| Platform | Rating | Notes |
|---|---|---|
| Trustpilot | ~4.9/5 (2,700+ reviews) | Many positive testimonials about service & support. |
| Google Reviews | ~4.7/5 (500+ reviews) approx. | Good but fewer overall reviews available publicly. |
| BBB (Better Business Bureau) | A+ accreditation | Long-standing member; still some complaints. |
| ConsumerAffairs | ~4.9/5 (1,500+ reviews) | Strong favorable feedback but many niche reviewers. |
Key Themes from Reviews
What customers like:
- Representatives were patient, explained metals vs. investment goals.
- Delivery & storage arrangements worked smoothly.
- Particularly for first-time metal buyers, the hand-holding approach was appreciated.
What customers dislike / caution about:
- Some were surprised by fees/spreads.
- A few report less favorable outcomes on buy-back valuations.
- The necessity to rely on phone consultation (rather than full e-commerce transparency) annoyed some.
In short, the volume of positive reviews is high — but they reflect the service part more than necessarily deep value or ultra-low cost. Reviews also underscore the importance of reading the fine print.
Is Lear Capital Legit?
Based on the evidence: yes, in the sense that Lear Capital is a legitimate business, operating since 1997, accredited by the BBB, with many satisfied customers and a strong review footprint. They provide actual service, ship insured metals, handle IRAs, and have been transparent about their reorganization.
However – “legit” does not equal “perfect” or “without risk.” The regulatory actions, complaints about transparency and fees mean that you must proceed carefully. Precious metals investing is inherently risky, and the intermediary (dealer) fees/mark-ups matter a lot. Use the following checklist to assess legitimacy for your case:
- Ask for full breakdown of your cost: metal price + mark-up + shipping + storage.
- Verify what “buy-back” or liquidation terms are.
- Confirm storage arrangements: which vault, what insurance, segregated vs. pooled.
- Ensure your IRA complies with IRS rules if you’re using metals in a retirement account.
- Ask concrete questions about fees, delivery timelines, invoice structure, and whether there are any cancellation rights.
If you undertake those steps, Lear Capital can be a valid option — but don’t skip the homework.
Comparison Table: Lear Capital vs Typical Alternatives
Here’s a side-by-side table comparing Lear Capital to a “typical precious-metals dealer / IRA firm” (i.e., a generic competitor) so you can see where Lear stands out — and where it aligns with the norm.
| Feature | Lear Capital | Typical Precious-Metals Dealer / IRA Provider |
|---|---|---|
| Year founded / track record | 1997 (26+ years) | Many range from ~5–20 years |
| Customer reviews | ~4.9/5 Trustpilot, A+ BBB accreditation | Varies widely; some newer firms have fewer reviews |
| Method to purchase | Phone consultation only; no full online inventory display | Many offer online inventory + ordering + pricing tools |
| Product range | Gold, silver, platinum, palladium; coins & bars; IRA support | Similar metals support; some specialize narrower |
| Storage option (IRA) | IRS-approved vaults, insured storage | Varies: some use same, some offer cheaper DIY options |
| Transparency on cost | Mixed reviews; some complaints about mark-ups/fees | Also variable; cost transparency often a key issue |
| Legal / regulatory history | Lawsuits/settlements ($2.75 m LA; $6 m NY; $5.5 m multi-state) | Some players clean; others also face regulatory actions |
| Ease for first-time investor | Good hand-holding via rep; praised by newbies | Some offer online tools; mixed level of personal rep support |
| Buy-back / liquidation clarity | Reviews mention process; some concerns over valuation | Generally varies significantly across providers |
Interpretation: Lear Capital offers many of the features you’d expect — strong review profile, full metal types, retirement-account integration — but it also carries some of the common drawbacks in this sector (cost transparency, high mark-ups, regulatory baggage). The trade-off: you may pay a premium for the brand + full-service model.
Lear Capital Reviews Conclusion
If you’re looking to invest in precious metals and are considering Lear Capital, here is what we believe you should weigh:
When Lear Capital could be a good fit:
- You value personalized service and want a dedicated representative guiding you through your first-ever metals purchase or IRA rollover.
- You are comfortable calling, discussing your goals, and letting a specialist manage the process rather than self-selecting online.
- You accept that there will be broker/dealer mark-ups and are prepared to ask detailed questions about every cost line.
- You want an established firm with a long history rather than a new, untested provider.
When you might want to look elsewhere:
- You’re highly cost-sensitive and want the absolute lowest spreads & mark-ups.
- You prefer full transactional transparency
- You are uncomfortable with the regulatory history (lawsuits, settlement, restructuring) and prefer a firm with zero past disclosures or investigations.
Final Verdict: Lear Capital is a legitimate contender in the precious-metals/Gold IRA space with strong customer reviews and long experience. But it is not necessarily the cheapest or most transparent option. If you proceed, treat the relationship like you would with any major investment: ask the tough questions, understand every fee, and make sure you are comfortable with the total cost and process.
Frequently Asked Questions (FAQ)
Q1: Does Lear Capital hold storage of metals for my IRA, and is it insured?
Yes, Lear Capital supports self-directed IRAs that allow physical metals, and uses IRS-approved depositories (typically segregated, insured) for storage.
Q2: What about buy-back or liquidation if I want to sell my metals later?
While not a guaranteed “we will buy back at full retail”, many customers report reasonable buy-back options or at least clear processes for liquidation. However, you should ask for specifics up front.
Q3: Is Lear Capital’s regulatory/legal history a concern?
Yes, there are several past actions:
- A 2021 lawsuit by the New York Attorney General for hidden commissions.
- A $2.75 million settlement with the City of Los Angeles in 2022 regarding deceptive practices.
- Multi-state regulators announced overcharges and that Lear Capital would distribute $5.5 million in refunds under its bankruptcy plan.
While the company remains operational and accredited, these past issues mean you should proceed with full awareness and extra caution.
Q4: Is investing in physical gold/silver via a firm like Lear Capital a good idea overall?
Physical precious metals can serve as a hedge against inflation, currency risk, or market instability, but they are not without cost or risk. Key considerations: storage fees, mark-ups, liquidity, metal purity, and whether your goal is long-term hold vs. speculative trade. Working with a firm like Lear Capital gives you convenience and support, but you pay for those benefits. Always weigh costs vs. benefits, and consider metals as one component of a diversified portfolio, not a guaranteed profit machine.
