Before we get into the review of the Lear Capital Inc, a precious metal brokerage company, we’re going to preface this article with reasons on why you should care.
The stock market is going on a losing streak, we’re full-on shutting down schools, travel, and seeing mass unemployment all around us.
There is no doubt that we’re heading right into a recession as we speak.
A decade ago, during the financial crisis of 2009, silver prices dropped to a low of $12.01 and hit a peak of $48.70 just 2 years after the recession.
Recently, on 17/03/2020 - silver prices dropped to a low of $12.27 USD/ounce as seen from the chart below.
All we’re trying to say here is to: “never let a good crisis go to waste.”
So How does Lear Capital play into this equation?
Lear Capital Inc. (Lear Capital) is a precious metals brokerage, founded in 1997 by Kevin DeMeritt and based out of Los Angeles.
This company offers 3 main services:
- Establishing precious metals IRAs for its clients
- Direct retail of precious metals
- Purchasing gold and silver coins from interested retail sellers.
Lear Capital Scam? What You Need To Know
The company stores its customers’ precious metals in the Brink’s Depository in Salt Lake City which dates all the way back to 1859.
And their precious metals are fully insured by a comprehensive policy underwritten by Lloyds of London.
Yes, there are people out there who use people’s fears of the current market turmoil (Caused by COVID-19) to convince them to invest in an asset like gold or silver coins.
These sellers price their coins at double their actual value, and that can leave the investor poorer with their “investment.”
Ultimately, Lear Capital is not one of those scammers.
The company promises a 3-step Price Advantage Guarantee in all of their transactions. As a customer, you will receive a written account agreement, followed by a phone confirmation and finally a written confirmation.
Lear Capital’s site contains a comprehensive consumer education section, with direct links to an economic news blog section, as well as informational articles and videos. Keeping you fully updated on the status of the precious metals economy.
Lear Capital also maintains an ‘Ask Scott’ section, where people are able to post questions directly to the CEO, Scott Carter; answered questions are posted on this section. You can find a high amount of information and frequently asked questions there.
Overall, the company maintains a solid 4.7 star rating on Consumer Affairs which really speaks for itself in terms of the company's customer satisfaction.
Lear Capital Silver Prices
You can find the current silver prices on Lear capitals website here
Unfortunately Due to COVID-19 the online store has been temporarily suspended until at least April 17th. Metals prices are changing rapidly and suppliers are sold out of many coins; certain coins may not be available and the prices listed on their website may not be up to date at this stage.
You can call the company direct line on 1-800-251-8122 for current price quotes and availability.
The company also provides real-time Silver Price charts on the company website here.
Their silver price chart shows you the real-time spot price in the silver bullion market. You can then purchase coins at those exact prices. The Lear Capital chart also gives you the ability to search historical data, so you can see the long-term trend.
Lear Capital Gold IRA
Lear Capital charges $160 to set up a precious metals IRA, which is much lower than the industry average of $250.
When the global economy suffers, the value of many IRA accounts begins to plunge and gold tends to move opposite the market.
Historically, gold has been the ultimate hedge against economic crises - and we are experiencing one helluva crisis right now.
According to Lear Capital, gold has actually outperformed the Dow over certain time spans, which is why so many investors are turning to gold and putting a portion of their retirement in gold.
By having gold, clients may potentially preserve wealth and may even maintain IRA dollars by increasing the store of value of physical gold to their retirement plans.
The gold experts at Lear Capital can help you buy gold for your gold IRA rollover.”
Do consider diversifying your portfolio with gold.
Gold IRAs allow you to hold assets that are rarely found in employer-sponsored 401(k)s and conventional IRAs. In addition, you experience the same tax benefits as conventional IRA, while reaping all the other benefits of purchasing precious metals.
What is The Best Gold IRA Company?
After extensive research into best practices, company reviews, and customer testimonials, we concluded that the best Gold IRA custodian currently on the market is Advantage Gold.
Here are more details for why we chose this company:
#1. Advantage Gold – Overall Best Company
- BBB Rating: A+ (highest possible rating)
- Trustlink Rating: 5 Stars (Over 280 5-star customer reviews)
- Featured in: CNBC, Fox Business, Bloomberg, Nobleman Magazine, BNN
- Setup Fees: Low, Flat Fee
- Storage Safety: Choice of approved facilities including Brinks and the Delaware Depository
- Customer Service: 100% customer satisfaction
- Years in Business: 6
- Delivery of Metals: Expedited within 24 hours of funds clearing
- Buyback Policy: Absolutely! (One of the best in the industry)
Advantage Gold provides a safe, secure way for customers to protect their retirement investment. They are one of very few companies in the industry that use Brinks depositories—widely considered among the safest in the world.
With a history of delivering customer satisfaction and a stellar reputation, the bottom line is that Advantage Gold is an excellent choice to safeguard your retirement holdings.
Get a Free Gold IRA Guide by visiting the link below.
But regardless of whether you choose Advantage Gold or not, it’s important to know what makes a good, trustworthy company.
Various companies have emerged in the industry and it is important to know which one you can trust since you are going to invest your cash.
We review a few other precious metal brokerages on the Personal Income website. Feel free to browse through the links below for more information:
- Advantage Gold Review: Gold IRA Leader Analysis
- Gold Trust Financial Review
- Best Places To Buy Silver Bars In The US (Top 5 Picks of Online Dealers)
- Dallas Gold and Silver Exchange Reviews, Ratings, Complaints
Regardless of which precious metal brokerage you choose to go with, you can verify the integrity of the company with this simple question:
“If I buy these coins you are trying to sell me today at the current spot price, what will you give me for them if I sell them back to you at the same spot price?”
And if the brokerage seems to struggle with answering this, that’s your red flag, and it’s time to move on.