Lear Capital Review 2026: Fees, Complaints & Regulatory History

Looking to protect your retirement savings with gold and silver?

You’re not alone. With inflation concerns and market volatility, more Americans are turning to precious metals as a hedge. But here’s the thing, not all precious metals dealers are created equal, and choosing the wrong one can cost you thousands in hidden fees or worse.

This review is desk research. It draws on Lear Capital’s own website, public regulator releases, BBB and Trustpilot profiles, and other published sources we read on November 1, 2026. It does not rely on any purchase, account or call by YourGoldIRAGuide. Fees, ratings and policies change, so every figure below is dated.

Disclosure: YourGoldIRAGuide may earn compensation when readers use some links on this site, including links to other companies we review. That does not change what we report here, including Lear’s regulatory history.

About Lear Capital

Lear Capital is based in Los Angeles. BBB’s profile lists June 3, 1997 as the date the business started (read November 1, 2026).

Lear’s pages promote Gold IRAs, Silver IRAs and metals purchases for home storage.

Lear also markets IRA rollovers and transfers. A direct trustee-to-trustee transfer generally avoids withholding and the 60-day deadline; see the rollover rules below.

Lear’s homepage, as of November 1, 2026, does not name an IRA custodian or a depository (Lear Capital). Lear is a dealer, not the custodian. The custodian is a separate company that holds the IRA and acts on your written direction. Ask for both names in writing before you fund anything.

Retail metal dealers are not regulated at the federal level, according to the CFTC and FINRA joint advisory; see also our guide to Gold IRA scams to avoid. Lear’s homepage says it ‘does not provide financial advice and is a for profit retailer’ and does not give legal, tax or retirement-specific advice. The SEC also warns that a self-directed IRA custodian does not vet the dealer or the investment (SEC investor alert). Lear is a metals dealer, not a securities broker, so FINRA and SIPC membership do not apply.

Lear Capital’s regulatory history: the 2022 settlements and the $5.5 million bankruptcy plan

These are allegations and settlements. The pages we read do not say whether Lear admitted or denied wrongdoing (the LA report says Lear continues to dispute the claims).

• New York Attorney General (January 3, 2022): The AG sued Lear and founder Kevin DeMeritt in June 2021. It alleged Lear failed to disclose millions in commissions (up to 33 percent on millions in sales), pushed many elderly Western New York residents saving for retirement into precious metals, and operated without required New York registration. Lear agreed to pay $6 million for eligible New York customers, give clear fee disclosure to New York residents, allow a 24-hour cancellation period for retirement and certain higher-fee transactions, improve complaint tracking and train personnel (NY AG release).
• Los Angeles City Attorney (reported January 10, 2022): City News Service, via KFI, reported a $2.75 million settlement of a 2019 suit alleging unfair and deceptive practices, with 90% for restitution to eligible customers (KFI report). This is a secondary news report; we did not locate the City Attorney’s own release.
• Multistate bankruptcy plan (August 2023): Under Lear’s bankruptcy plan the company will provide $5.5 million for distribution to investors in its precious metals business. Regulators said they had investigated deceptive activities and misleading marketing, and Iowa’s Deputy Commissioner said Lear urged investors to liquidate traditional retirement savings ‘without proper fee disclosures.’ Buyers between January 1, 2016 and March 3, 2022 are eligible; investors who filed timely claims receive refunds under the plan, and others a pro rata share (Iowa Insurance Division, August 8, 2023). Montana’s securities commissioner said 163 Montanans invested over $3 million with Lear, and that under the plan Lear agreed not to misrepresent its fees, offer portfolio assessments of securities holdings, or hold itself out as an investment adviser (Montana, August 1, 2023). No admission of wrongdoing is stated on that page.

We did not read the bankruptcy docket, the claims deadline or any later regulatory records, so we cannot say how current Lear practices compare. These records are why we suggest getting every fee, markup and cancellation term in writing.

Key Features & Services

Gold & Silver IRA Services

This is clearly their bread and butter. Lear Capital specializes in helping people set up self-directed IRAs backed by physical precious metals. The process involves opening an account with a custodian (Lear does not name which one), funding it through a rollover or transfer, and then buying IRA-eligible metals. For background, see our Gold IRA investing guide.

Precious Metals Purchases

Not interested in an IRA? You can buy gold and silver directly for personal storage. They offer:

• American Gold Eagles and Silver Eagles
• Canadian Maple Leafs
• Gold and silver bars
• Rare and collectible coins

Storage & Custody Options

For an IRA, the IRS ties the bullion exception to custody: certain bullion is excluded from the collectibles rule only if a bank or approved non-bank trustee keeps physical possession of it (IRS Issue Snapshot, reviewed July 3, 2026). Lear’s homepage names no depository and does not describe storage terms, insurance or segregation (checked November 1, 2026). Finder (updated May 22, 2026) and Better Bullion (October 26, 2026) both report Delaware Depository, but neither traces that to a Lear document, so treat it as unconfirmed. Ask in writing who holds the metal, whether storage is segregated, and how it is insured. Keeping IRA coins at home is not a workaround: in McNulty, 157 T.C. No. 10 (2021), home custody of IRA coins produced taxable distributions and upheld penalties, as reported by the Journal of Accountancy.

For direct purchases outside an IRA, Lear’s shipping policy page describes FedEx shipments and says not to add FedEx insurance; it publishes no delivery timeline (checked November 1, 2026).

IRA Rollovers & Transfers

Rollover steps depend on your current plan and on the custodian Lear works with, which Lear does not name. Lear does not publish a rollover timeline. The IRS says you have 60 days to roll over a distribution paid to you; an employer-plan distribution paid to you is subject to mandatory 20% withholding even if you intend to roll it over, and that withholding does not apply to direct rollovers. You generally cannot make more than one IRA-to-IRA rollover in a 12-month period, a limit that does not apply to trustee-to-trustee transfers (IRS rollover rules, reviewed May 31, 2026). Ask for a direct trustee-to-trustee transfer.

Buyback Program

Lear’s homepage, as of November 1, 2026, describes no buyback policy. It links a Cancellation Refund Policy and advertises a Price Match Guarantee and a 24-Hour Risk-Free Purchase Guarantee without stating terms (Lear Capital). The CFTC and FINRA note that a dealer will always buy metal back below the spot price and advise asking how much you would receive if you sold it back tomorrow. Get Lear’s buyback terms and a sample sell-back price in writing. We cannot confirm a ‘buyback guarantee’.

Fees & Pricing

Pricing is the hardest part of this review to pin down, because Lear’s own pages disagree with each other.

IRA Setup & Maintenance Fees

Lear’s homepage lists no fee amounts, and the figures we found disagree. As of November 1, 2026:

• Lear’s knowledgebase page (dated August 28, 2026, company claim): $50 one-time application fee, $125 annual maintenance, storage $160 segregated or $110 non-segregated. That is about $235–$285 a year. It also lists fee reimbursement for purchases of $25,000–$50,000 (first year), $50,000–$75,000 (first two years) and over $75,000 (first three years).
• Lear’s homepage (November 1, 2026): says IRA setup and storage are free, and that a $500 account credit after requesting the Precious Metals Investor Kit can be used for shipping, insurance or IRA custodial fees.
• Finder (updated May 22, 2026, third party): $305 the first year, then $225; $50 setup waived at $10,000 or more.

Note what the knowledgebase page is: Lear’s own announcement that ConsumerAffairs named it a best gold IRA company. It states Lear scored 4.9 stars from 1,589 ConsumerAffairs reviews and describes the award as based on verified reviews submitted January 2023 to December 2025 plus company factors, without publishing the weightings. Treat both the award and the fee figures on that page as company claims.

Because these sources conflict, treat none of them as a quote. Lear is a dealer, so do not assume it sets the custodian’s fees, and we have not ranked its fees against competitors. Ask for an itemized written schedule (setup, annual custodian, storage, wire, shipping, and any liquidation fees) before you sign.

Minimums: Lear’s homepage states no account minimum (November 1, 2026). Better Bullion (October 26, 2026) reports a $10,000 IRA and $5,000 direct minimum in its text but also says the minimum is not publicly disclosed, and Finder (May 22, 2026) shows $0 in its header but ‘not disclosed’ in its fee table. Ask what the practical minimum is for the products you are quoted.

Product Markups

Dealers earn on the spread between what they pay for metal and what they charge, and a dealer will always sell above spot and buy back below it (CFTC and FINRA). Whether Lear discloses that clearly has been contested. The New York Attorney General alleged that Lear failed to disclose millions in commissions of up to 33 percent on millions in sales; see the regulatory section above. We found no published markup schedule for Lear in the sources we reviewed.

No markup schedule for Lear appears in any source we checked. Before buying, ask for the spot price at the time of the quote, the price per ounce, the premium in dollars and percent, and the buyback price that same day. FINRA notes that collectible coins are likely less liquid, and harder to sell, than bullion (FINRA investor bulletin, March 20, 2024).

Shipping & Insurance

Lear’s shipping policy page, read November 1, 2026, states no purchase shipping cost and no free-shipping threshold. It addresses return shipments (ground packages capped at 50 pounds or $25,000 in value, express at 30 pounds or $75,000, and an instruction not to insure the package with FedEx) and says the $500 kit credit can be applied to shipping, insurance or IRA custodial fees. Finder (May 22, 2026) and Better Bullion (October 26, 2026) both report a per-order formula of about $24 plus $1 per $1,000 for gold and platinum and $24 plus $13 per $1,000 for silver, which neither traces to a Lear document. Get the shipping and insurance charge for your exact order in writing.

Ten things to get in writing before you fund an IRA

1. The spot price at the moment of the quote
2. The price per ounce and the premium, in dollars and percent
3. The buyback price for the same product that same day
4. Setup, annual custodian and storage fees, itemized, and who charges each
5. Whether storage is segregated or pooled
6. The names of the custodian and the depository
7. The wire and shipping charge for your order
8. Whether each product is bullion, semi-numismatic or numismatic
9. The cancellation window, and whether it applies to your product and state
10. The liquidation process and timeline

These come from the questions in the CFTC/FINRA advisory and the gaps in Lear’s published terms.

How They Compare

Lear publishes no fee amounts on its homepage, and a knowledgebase page lists numbers that conflict with the homepage’s ‘free setup and storage’ promotion. In the table below, Augusta’s figures come from its own FAQ as we read it on October 7, 2026. For another company to compare, see our review of competitors like Goldco; we have not re-verified Goldco’s current fee schedule for this update.

Trustworthiness & Reputation

BBB Rating

BBB’s search listing (checked November 1, 2026) shows Lear Capital, Inc. at 1990 S Bundy Dr #650, Los Angeles, as BBB Accredited with an A+ rating (BBB search result; profile). BBB does not endorse businesses or verify third-party information.

BBB’s profile, read November 1, 2026, showed an A+ rating, accreditation since September 19, 1997, a business start date of June 3, 1997, 33 complaints filed in the last three years (12 in the last 12 months) and 150 customer reviews, with no alerts.

Trustpilot Reviews

On Trustpilot, Lear has a 4.7 TrustScore (‘Excellent’) from 3,303 reviews as of November 1, 2026. About 89% are five-star and 2% are one-star, and 372 were posted in the last 12 months. Trustpilot shows that the company invites customers to review and has claimed its profile (since March 2015), so the score may not represent all customers. We did not analyze the text of individual reviews.

Lear also promotes a ConsumerAffairs rating and award on its own site (4.9 stars from 1,589 reviews, per Lear’s page). We did not read the ConsumerAffairs page ourselves, so treat that rating as a company claim.

Our Read on Trust

Lear is an operating precious metals dealer with an A+ BBB listing and a large Trustpilot profile. It also has a documented regulatory and bankruptcy-plan history over undisclosed fees, summarized above. We do not label companies scams or non-scams; we report what the records show. The pages we read describe allegations and settlements, not a verdict on every customer’s experience, and whether Lear fits you is a personal decision. If you are considering a rollover, a fee-based fiduciary adviser or tax professional can help.

Pros & Cons

Pros:

• BBB search listing shows an A+ rating and BBB Accredited status (checked November 1, 2026)
• Trustpilot score of 4.7 from 3,303 reviews, though Lear invites customers to review
• Publishes IRA fee figures and fee-reimbursement tiers in a knowledgebase page dated August 28, 2026
• Lists memberships in the National Coin & Bullion Association and PCGS Authorized Dealer status (company claims)

Cons:

• Documented regulatory and bankruptcy-plan history alleging undisclosed fees (2022–2023)
• Fee figures conflict across Lear’s homepage, its knowledgebase and third parties
• Homepage names no custodian or depository, states no fee amounts and describes no buyback policy (as of November 1, 2026)
• Guarantees such as Price Match and 24-Hour Risk-Free Purchase are advertised without terms on the homepage
• Purchase-linked promotions, such as ‘Up to $15,000 in Free Coins’ with a qualifying purchase, add complexity to comparing real costs

Lear Capital compared with Augusta Precious Metals

We compare Augusta here because it is the company whose current figures we verified this run, and we may earn compensation if you use our Augusta links. Goldco is covered separately and its fee schedule was not re-verified for this update.

How to Get Started

If you decide Lear Capital is right for you, here’s what the process looks like:

Step 1: Request Information

Requesting the kit puts your phone number and email in a dealer’s sales system. The CFTC and FINRA advise caution with unsolicited precious metals offers and suggest asking whether the salesperson is a registered commodity trading advisor or investment professional. If you want the kit, ask at the outset how often you will be contacted and how to opt out.

Step 2: Consultation Call

You’ll get assigned an account representative who’ll walk through your investment goals, current retirement situation, and options. This is where you need to be careful – ask specifically about fees, markups, and stick to bullion if you’re just looking to preserve wealth. Don’t let them upsell you on rare coins unless you understand exactly what you’re paying for.

Step 3: Fund Your Account

For an IRA, you will sign paperwork to authorize the rollover or transfer; ask who the custodian is and request a direct trustee-to-trustee transfer. For direct purchases, ask in writing how payment is accepted.

Step 4: Select Your Metals

Work with your rep to choose products. Standard bullion is easier to price against spot, and FINRA notes collectible coins are likely less liquid than bullion, so ask for the premium on every item quoted.

Step 5: Storage or Delivery

For an IRA, a bank or approved non-bank trustee must keep physical possession of the metal, so confirm in writing who holds it and where. For direct purchases, ask for the shipping and insurance terms for your order.

Pro Tips:

• Get everything in writing before you commit
• Ask for a complete fee breakdown upfront
• Don’t rush – legitimate companies won’t pressure you to decide today
• If buying bullion, compare their price to current spot price plus a reasonable premium
• Keep your account rep’s direct number – you’ll want it for questions later

Frequently Asked Questions

Is Lear Capital legit?

Lear is an operating precious metals dealer with an A+ BBB listing (checked November 1, 2026) and a 4.7 Trustpilot score from 3,303 reviews. It also has a regulatory history: a 2022 New York Attorney General settlement ($6 million), a reported $2.75 million Los Angeles settlement and a $5.5 million multistate bankruptcy plan, all over alleged undisclosed fees. The pages we read do not say Lear admitted wrongdoing. Retail metal dealers are not regulated at the federal level, so get fees, markups and cancellation terms in writing.

How much does a Gold IRA with Lear Capital cost?

Lear’s homepage lists no fee amounts and says IRA setup and storage are free. A Lear knowledgebase page dated August 28, 2026 lists a $50 application fee, $125 annual maintenance and $160 (segregated) or $110 (non-segregated) storage, and Finder (May 22, 2026) reports $305 the first year then $225. These conflict, so confirm an itemized schedule in writing. Metals are priced at a spread above spot, and we could not verify Lear’s markups.

Can I rollover my existing IRA to Lear Capital?

Lear markets IRA rollovers and transfers, but it does not publish the custodian it uses or how long the process takes, so ask for both in writing. The IRS rules that govern the move: you have 60 days to roll over a distribution paid to you; an employer-plan distribution paid to you is subject to mandatory 20% withholding even if you intend to roll it over, and that withholding does not apply to a direct rollover; and you generally cannot make more than one IRA-to-IRA rollover in a 12-month period, a limit that does not apply to trustee-to-trustee transfers (IRS, reviewed May 31, 2026). Request a direct trustee-to-trustee transfer, and confirm the tax treatment of your specific move with a tax professional.

How does storage work?

Lear’s homepage names no depository and describes no storage terms, insurance or segregation (checked November 1, 2026). Finder (May 22, 2026) and Better Bullion (October 26, 2026) both report Delaware Depository, with commingled or segregated options, but neither traces that to a Lear document. The IRS requirement is that a bank or approved non-bank trustee keep physical possession of the metal, not that a particular vault be ‘IRS-approved’. Before funding, get the custodian and depository named in writing, along with whether your metal is segregated or pooled, what the insurance actually covers, and how long a sale and a distribution take. One custodian, STRATA Trust, publishes a typical liquidation timeline of about 5 to 13 business days, with the cash distribution as a separate step.

What metals can I invest in?

Ask Lear which products it offers and whether each one is IRA-eligible. For an IRA, the IRS treats metals as collectibles unless they fall inside narrow exceptions: certain coins described in 31 U.S.C. 5112 or issued by a state, and gold, silver, platinum or palladium bullion meeting the minimum fineness required for a commodity futures contract market’s deliverable metal, held in the physical possession of a bank or approved non-bank trustee (IRC 408(m)(3); IRS Issue Snapshot, reviewed July 3, 2026). The IRS publishes no purity percentage, so ask Lear to confirm in writing that each product you are quoted is IRA-eligible and why.

Does Lear Capital buy back metals?

Lear’s homepage describes no buyback policy as of November 1, 2026; it links a Cancellation Refund Policy and advertises a Price Match Guarantee and a 24-Hour Risk-Free Purchase Guarantee without stating terms, and we found no published sell-back page (learcapital.com/sell-to-us returned a 404 on November 1, 2026). The CFTC and FINRA say a dealer will always buy metal back below spot and advise asking how much you would receive if you sold back tomorrow. Ask for the buyback terms, any minimum, and a same-day sell-back quote in writing before you buy.

Conclusion & Recommendation

Lear is an operating dealer with an A+ BBB listing and a large, company-solicited Trustpilot profile. It also resolved a $6 million New York Attorney General matter in 2022, a reported $2.75 million Los Angeles City Attorney matter, and a $5.5 million multistate bankruptcy-plan distribution in 2023, all involving allegations about undisclosed fees and commissions; none of the pages we read records an admission of wrongdoing. Its own pages still disagree about what an IRA costs. That combination is why we will not score it or call it the cheapest or the most reliable option: whether it suits you depends on whether you can get an itemized fee schedule, the custodian and depository names, the markup on each product and the buyback terms in writing before you fund anything. Suitability is personal, and a fee-based fiduciary or tax professional is worth a call first.

Who should consider Lear Capital:

• First-time precious metals investors who want guidance and personal service
• Anyone looking to rollover an existing retirement account into a Gold or Silver IRA
• Investors who prefer talking to a real person over managing everything online
• People who value relationship-based service and don’t mind phone calls

Who should look elsewhere:

• Readers who need published, comparable pricing before they talk to anyone
• DIY investors who want complete online account management
• Anyone who does not want to negotiate a phone sale: regulators alleged Lear did not disclose commissions of up to 33 percent on millions in sales before its 2022 settlement, and Lear publishes no markup schedule today

Bottom-line advice: If you go with Lear Capital, be firm about what you want. Stick to standard bullion products unless you understand the collectible coin market. Get all fees in writing before committing. And don’t rush: pressure to “act now” is a red flag with any precious metals dealer.

Next step: if Lear will not put the fee schedule, custodian, depository, markup and buyback terms in writing, compare it against companies that will; see our gold IRA company comparisons. You are under no obligation, and no company on this site pays us to change what we report.