Press Release: October 31, 2019.
History of Lear Capital
Lear Capital was established in 1997 as a company that acquires and purchases precious metals in a variety of forms. The company is recognized as a Precious Metals IRA dealer. Clients and customers of Lear Capital use the company for diversifying their investments. Lear Capital has invested more than $3 billion since opening its doors to customers.
Today Lear Capital is a Consumers Affairs Accredited Brand that has an A+ BBB rating. The investment company has been rated by more than 970 consumers on Consumer Affairs and has nearly a perfect five-star rating.
What Lear Capital Does
Lear Capital buys and sells various forms of precious metals including numismatic coins and silver, as well as bullion. This includes collecting and selling coins and bullion in auction houses and on consignment for customers.
Numismatic coins are rare or valuable coins that are more valuable than precious metals. The reason why numismatic coins are more valuable is these have a special value. The coins might be historically important or have special marks, such as mistakes when minting them.
Bullion is gold, silver, and other precious metals that are traded in bulk. This includes gold and silver before turned into bars, ingots, and rare coins. The primary market for trading bullion is the London Bullion Market according to Investopedia.
The London Bullion Market is where you can obtain daily real-time market data pertaining to prices for bullion including four precious metals—gold, palladium, platinum, and silver. Even though the London Bullion Market is based in the UK and uses Euro pricing, the US dollar is also accounted for each day for the four metals.
The LBMA Gold price is listed in US dollars every auction day at 10:30 and 15:00 London time at per fine troy ounce. The LBMA Silver price is set at US dollars at 12 noon per ounce of silver. For the LBMA Platinum and Palladium, the auction price in US dollars is .9995 fine ounces.
Services Offered at Lear Capital
What Lear Capital does with the information provided by the LBMA and other precious metal markets is to keep customers updated based on changes in the market. Customers then have the information they need to make informed decisions regarding investment opportunities at Lear Capital. Lear Capital also provides products including individual retirement accounts or IRAs that are backed by gold and silver.
The research and tools provided by Lear Capital are intended to help you choose the right investment opportunities for this particular market. Gold and silver IRAs can be rolled over from and into a 401k, 457, annuities, and other types of retirement plans. There is no tax penalty when you transfer a precious metals IRA from an IRA at Lear Capital.
A precious metals IRA at Lear Capital is taxed like a conventional IRA and protected against the stock market. This is a self-directed IRA that allows you to make updates to your investments on the spot based on market changes.
At Lear Capital, customers can also buy a variety of precious metals. This includes numismatic coins, which the Consumer Affairs reports are inflation-resistant and considered good for a long-term profitable investment. Gold and silver bullion and coins are also sold and managed through auctions and consignments via the Strata Trust Company.
How to Get Started
When you sign up for an account with Lear Capital, you have a personal account representative. This representatives provide weekly and daily updates on the markets for gold, silver, palladium, and platinum. This information covers bullion, numismatic coins, and precious metals and their real-time market values.
When the market goes up or down, theoretically you would receive an update. This would include professional insight from your account rep regarding what you might want to do with your investment based on that information.
Pros and Cons of Lear Capital Services
The Consumer Affairs reports several pros and few cons for consumers interested in investing with Lear Capital. The biggest asset that the company offers is experience with more than 20 years in the investment industry. Customers have the confidence that investing for two decades in precious metals brings with it.
Lear Capital is also able to provide investors with a 30-day price guarantee certificate. This is a great benefit that further eases consumer confidence. You have 30 days to change your mind once you open a new account at the company or make a roll-over on an existing account.
This applies specifically to the IRA accounts at Lear Capital. If you notice that the price of the bullion, gold, silver, or numismatic rare coins drops in that 30-day period, Lear Capital will adjust the value of your IRA investment according to the new market rate.
Another pro for Lear Capital is that they provide physical possession and liquidation services for gold, silver, and numismatic rare coins. Strata Trust Company is the holding company for Lear Capital. This allows you to use consignment or an auction as optional ways to sell your coins.
The only con according to the Consumer Affairs report is that there are annual fees. You are required to pay an annual fee to store and/or secure your precious metal investments. The fee varies based on the type of precious metal you are investing in.
Fees at Lear Capital
The company charges an annual fee of $160 for account holders. This fee is for managing your account and having online access, as well as receipt of quarterly statements for your IRA and precious metals investments. The fee is also for any insurance and shipping costs you incur during the year for printing and mailing your financial statements.
The cost for gold coins at Lear Capital ranges from $455 to $1,353 according to Consumer Affairs. Silver coins at Lear Capital are worth $18 to $14,000 states Consumer Affairs. This is variable and based on the current spot prices for gold and silver.
Current Spot Prices for Gold
Currently the spot prices for gold are:
- Per ounce $1,490.50
- Per gram $47.92
- Per kilo $47,920.69
Current Spot Prices for Silver
Current spot prices for silver are:
- Per ounce $17.87
- Per gram $0.57
- Per kilo $574.53
Examples of Coin Prices to Buy or Sell Now
Lists of coins that are considered rare or numismatic are available from the Numismatic Reference List. This list is provided by the American Numismatic Association. Some examples of coins on the list include:
- Buffalo nickels from 1913 to 1938
- Early dollar coins
- Error coins
- Mercury dimes
- Morgan and peace one dollar silver from 1878 to 1935
- Standing Liberty quarter dollars from 1916 to 1930
The ANA also states that coins listed in the following books are also applicable to numismatic coins:
- “Commemorative Coins of the United States” by Anthony J. Swiatek
- “An Illustrated History of US Commemorative Coinage” by Don Taxay
Latest News/Press Releases from Lear Capital
The latest in press releases to come out of Lear Capital is regarding an exclusive rare coin opportunity. The company reported on September 26, 2019 that they are releasing a line of semi-premium bullion coins in 2020. The coins will feature endangered animals and include wildlife from previous coins.
For example, the coins include a 2017 Grizzly Bear coin and a 2018 Silver Snowy Owl coin. All of the bullion coins are produced using two-ounce and 10-ounce silver coins, as well as quarter-ounce gold coins. These coins are produced according to an increase in demand and all feature a fixed mintage.
How to Contact Lear Capital
The Lear Capital, Inc. corporate building address is:
- 1990 S. Bundy Drive
- Suite 600
- Los Angeles, CA 90025
This is also the mailing address for the company. To call Lear Capital, call 1-800-576-9355. The office is open and representatives are available from 9 am to 6 pm PST. If you need to send a fax, the fax line is 1-310-571-0194.
When you become a customer at Lear Capital, you have access to a customer referral program. Refer a customer, and when they sign up for an account you each receive a free 1.5-ounce silver coin.
Lear Capital Customer Reviews
Customers who use the services provided by Lear Capital give the company a good review overall. Trustpilot shows 348 reviews and a four out of five star rating. Some of the customer highlights include being able to purchase gold coins and precious metals including palladium per ounce easily.
Retirement Living also presented Lear Capital with the Best Service award. This is based on the same cons as Consumer Affairs. However, Retirement Living also points out another positive about the company., Customers state they do not feel rushed and that their transactions are handled timely manner.
From Highya reviews of Lear Capital, there appear to be more mixed reviews. Here customers are noting how there is some confusion in the products sold and sales pitches from customer service agents. When customers call to place an order, there can be overselling of other products or confusion about investments. Since the Lear Capital service involves a self-directed IRA, customers are expected to have more of a working knowledge about the products offered.
For example, one reviewer on Highya notes that they wanted to invest in silver bullion. However, the agent sold the customer Polar Bear coins, which were half of the intended value. On the other hand, reviewers who published a review including a working knowledge of the precious metals market showed more positive results.
How the Company Measures Against the Competitors
The system that Lear Capital provides is investments into the precious metals market. For that service, customer reviews are generally positive. Furthermore, the self-directed IRA service allows customers at Lear Capital to have greater control over their financial investments. This can be quite beneficial for individuals who are good at understanding the precious metals market. However, customers who are new to investments in precious metals will find that the self-directed system may be too liberating.
They are unable to navigate products and services they don’t truly understand, such as with the customer who ended up investing in those commemorative silver Polar Bear coins in place of silver bullion. As such, a reason that Lear Capital would not the right investment for a customer new to the precious metals marketplace. Otherwise, the services that the company offer appear to be in good standing with both the precious metals market and customers alike.