Lear Capital Review 2026: Complaints, Lawsuits, Bankruptcy, Fees and Buyback

Lear Capital is an operating gold IRA seller in Los Angeles that paid $14.25 million to settle three government cases about its markups (as of September 29, 2026). It settled without admitting wrongdoing, went through Chapter 11 bankruptcy in 2022-2023 and kept selling. A gold IRA is an individual retirement account that holds physical metal through a custodian. The spread is the share of your price that is not metal, and Lear now publishes a spread range of 2% to 35% and its yearly account fees. So the question is not whether Lear exists, but what you pay and what you sign away.

Lear Capital is one of the gold IRA companies SafeOunce checks with the same records, contract and cost questions. This Lear Capital review covers its legal names and owner, the three cases and the 2022 Chapter 11. Chapter 11 is a court-supervised reorganization that lets a company keep operating while it settles debts. It then reads Lear's December 2025 contract, its spread and its fees, and prices a $100,000 account. It ends with the promotions, the buyback wording and who Lear suits. This review covers Lear Capital (learcapital.com), the precious metals seller founded by Kevin DeMeritt, not Lear Corporation or other firms with "Lear" in their name.

The 13 facts below come from Lear's contract and website, its bankruptcy plan, state regulators, the BBB and Trustpilot, each dated. The last row links to Lear's own site.

Company website links in this table: SafeOunce earns nothing from these links.

Is Lear Capital Legit? Our Verdict on a Real Company With a Costly Record#

Yes, Lear Capital is a legitimate, operating company, but it has the heaviest public record of the large gold IRA sellers: $14.25 million in markup settlements and a 2022 bankruptcy. The cases were about hidden markups: New York's petition alleged hidden commissions of up to 33%.

Is Lear Capital legit in the sense of a real business that is still selling? Yes. Is it reputable on price? Its record says to check every number. A settlement is an agreement that ends a case, usually with a payment and without a court finding.

Since the settlements, Lear puts more in writing than most rivals. Its contract prints a 2%-35% spread range, its IRA FAQ lists yearly account fees, and you get 24 hours to cancel after the invoice. Part of this came from the cases: the Los Angeles agreement required clearer fee lines and the 24-hour window, and the New York consent decree added a break-even disclosure.

What should a careful buyer get from Lear before the 24-hour window starts? Get three things in writing before the invoice. First, the exact spread on each coin, in dollars and in percent. Second, whether each coin is plain bullion or a "Limited Mintage" coin. Third, the signed contract.

Is Lear Capital still in business after its bankruptcy?#

Yes: Lear Capital is still in business; its Chapter 11 plan was confirmed on June 12, 2023, and it now operates as Lear Capital, LLC. Lear Capital, Inc. filed on March 2, 2022, in the US Bankruptcy Court for the District of Delaware (No. 22-10165). The court confirmed the plan on June 12, 2023, according to Vermont's Department of Financial Regulation. Lear's own bankruptcy page says the reorganization was "completed ... in early 2024". SafeOunce has not verified the date the case closed.

Is Lear Capital going out of business? SafeOunce saw no sign of it as of September 29, 2026. Lear's contract (updated December 2025), its IRA FAQ and its homepage were all live on that date.

Who Owns Lear Capital? Legal Names, Founder and How It Works#

Lear Capital is a Los Angeles precious metals dealer that sells gold, silver and platinum coins and bars by phone and online, and arranges self-directed IRAs that hold them. Most of its sales are outside IRAs. In 2022, direct sales to consumers were 63.6% of revenue and the IRA channel was 36.4%, according to Lear's 2023 Chapter 11 plan. That is about $53.4 million of the plan's $146,581,414 (SafeOunce computation). Lear's homepage claims "28 years in business" and "$5 billion in trusted transactions"; SafeOunce has not checked either claim.

Why does the legal name matter? The contract, the court cases and the complaints each use a different Lear name.

Lear Capital, LLC, Lear Capital, Inc. and the other names to check#

Lear Capital has used at least four legal names, and the one on your contract today is Lear Capital, LLC. The four names, and where each appears, are listed below.

• Lear Capital, LLC: the seller named in Lear's terms, last updated December 2025.
• Lear Capital, Inc.: the company that filed Chapter 11 in 2022; still the name on the BBB profile.
• Lear Financial, Inc.: the name until 2007, per a 2012 federal court opinion (Ireland v. Lear Capital).
• Lear Capital Holdings, Inc.: the defendant named in a 2024 federal texting lawsuit.

SafeOunce has not found a public record of when the Inc. became an LLC. The contract now names Lear Capital, LLC, and that is the name to use on any complaint. Search every name when you check court and regulator records. The step-by-step way to check a gold IRA company by its legal names is on our verification guide.

Who owns and runs Lear Capital?#

Kevin DeMeritt founded Lear Capital and owned 100% of Lear Capital, Inc. when it filed for bankruptcy, according to the company's 2023 plan. John Ohanesian is CEO, per the BBB on September 29, 2026. DeMeritt also helped fund the refunds: the plan says he "will contribute an amount sufficient, when combined with the Cash on hand, to provide a total of $5.5 million". He was a named respondent in the New York Attorney General's 2021 case. Who owns Lear Capital, LLC today is not published.

How a Lear Capital gold IRA works, step by step#

A Lear Capital gold IRA works in 6 steps, from opening an account at the custodian Lear works with to metal arriving at the Delaware Depository. A self-directed IRA is an IRA that can hold assets other than funds, such as metal. A custodian is the trust company that legally holds the IRA and sends your statements. A depository is the vault. The six steps are listed below.

1. Open a self-directed IRA with the custodian Lear names; its FAQ lists "Self Directed IRA Services, Inc."
2. Move money by direct transfer or rollover; Lear's FAQ says funds move "within 5 business days" on average.
3. Choose coins or bars, and ask the spread on each item in dollars and percent.
4. Answer the recorded voice confirmation call, where Lear states your spread (terms, section 1.3).
5. Receive the written invoice; your 24-hour cancellation window starts then.
6. Check that the metal appears on your custodian statement, held at the Delaware Depository.

A voice confirmation is a recorded call where you answer yes or no to the order terms. The law requires IRA bullion to stay in the physical possession of a trustee (26 U.S.C. 408(m)(3)(B)), which is why the metal goes to a vault. For step 2, ask for a transfer, not a rollover: a gold IRA transfer between custodians has no 60-day clock and no once-a-year limit.

Is Lear Capital a custodian, an adviser or a fiduciary?#

No to all three: Lear's contract says it "is not an investment or financial advisor, or retirement account fiduciary", and its salespeople "are commissioned salespersons". The same clause says they "are not licensed". A fiduciary is someone legally bound to act in your best interest. Lear's 2023 plan adds that Lear "shall not hold itself out as an investment advisor in any way".

The custodian does not check the deal either. The SEC warns that self-directed IRA custodians "generally do not evaluate the quality or legitimacy of any investment" (SEC investor alert).

Why most gold IRA salespeople are not your fiduciary is explained in our glossary.

Lear Capital Lawsuits and Settlements: $14.25 Million Paid, No Admission#

The Lear Capital controversy is about markups: Lear paid $14.25 million in 2021-2023 to settle three government cases over fees of up to 33%, without admitting wrongdoing. The Los Angeles City Attorney, New York's Attorney General and at least 42 regulators said Lear did not properly disclose its fees. The money splits into $2.75 million, $6 million and a $5.5 million refund fund. Each Lear Capital lawsuit below has its own section, with the court, the number and the dates.

Three legal terms come up. California's Unfair Competition Law is the state's main consumer-protection law. A consent decree is a court-approved settlement. Subchapter V is a faster Chapter 11 track for small businesses.

The table lists every government and court case SafeOunce found that names Lear, from primary documents read on September 29, 2026.

Los Angeles City Attorney case: $2.75 million (2019-2021)#

The Los Angeles City Attorney sued Lear Capital, Inc. on June 5, 2019, and Lear paid $2.75 million under a Binding Agreement dated December 30, 2021. The suit was brought under California's Unfair Competition Law in Los Angeles Superior Court (No. 19STCV19362). Lear's 2023 plan says it agreed to changes, including "revising its invoices to include more prominent disclosure of the Debtor's fee structure". Lear also agreed to provide "(to most buyers) a 24-hour, no risk cancellation policy".

The plan adds: "There was no admission of wrongdoing." The plan also says the Los Angeles terms apply to Lear's sales nationwide, except in New York.

New York Attorney General case: $6 million and the "ask to cost fee" (2021)#

New York's Attorney General sued Lear Capital, Inc. and Kevin DeMeritt on June 17, 2021, alleging hidden commissions of up to 33%. The petition covered more than $43 million of sales to nearly 1,000 New York investors since 2014. Its five main allegations are listed below, with paragraph numbers.

• Recorded confirmation question: "Do you understand that the ask to cost fee is 33 percent, yes or no," buried "among a series of innocuous questions" (¶5).
• Break-even receipt: sent after payment, "in tiny, faint font", with a break-even "often approaching 50%" (¶6).
• First-statement shock: customers "shocked to see in their first statement from their new IRA custodian that the value of their retirement holdings had declined by a third" (¶6).
• Sales script: a script saying the fee covers mining and minting, which the petition calls "false" (¶84-85).
• Fee promises: customers told the fee "would be approximately 2-3%", then charged 25% or 33% (affidavits, ¶70-71).

Why "approaching 50%"? At a 33% spread, 67 cents of each dollar buys metal. Metal must rise 49.3% just to get back to the price paid. The petition also says 2015 IRA deals averaged $52,100, against $13,200 for cash deals. IRA sales were 21% of Lear's New York transactions but 53% of the dollars (¶48).

Lear settled on or about December 30, 2021, paying $6 million without admitting wrongdoing. The Attorney General announced it on January 3, 2022. The $6 million equals about 14% of the $43 million in New York sales alleged (SafeOunce computation). Lear's plan describes the payment as being "for engaging in unregistered sales". It adds a duty to disclose "how much the customer's metals need to appreciate in order to recoup the gross profit and break even". All the points above are allegations, not court findings.

Lear Capital bankruptcy: why it filed Chapter 11 and what customers got (2022-2023)#

Lear Capital, Inc. filed for Chapter 11 on March 2, 2022, and its plan, confirmed June 12, 2023, set up a $5.5 million fund for overcharged customers. The case is No. 22-10165 (BLS) in the US Bankruptcy Court for the District of Delaware, under Subchapter V. The fund covered purchases from January 1, 2016, to March 3, 2022. South Carolina's Attorney General counted at least 42 regulators in the settlement.

The Customer Fund is the pot of money set aside for refunds: Lear's cash on hand plus Kevin DeMeritt's contribution. A proof of claim is the form a customer filed to ask for a refund. In the plan (Doc 694, filed June 5, 2023), Lear "neither admits nor denies" the regulators' claims. Lear's own bankruptcy page says the process was "undertaken to address financial obligations from a 2021 settlement".

A multistate release was published on October 19, 2023, by DC's Department of Insurance, Securities and Banking (DISB). It says "Lear Capital urged investors to liquidate their traditional retirement savings and buy precious metals without proper fee disclosures." The plan's "Legal Compliance" section lists six conduct promises, shown below.

• No "ask-to-cost" term: the charge must be called a "fee" or "spread".
• Recorded confirmation: recorded continuously, "at a reasonable, ordinary conversational pace".
• Complaint records: kept for seven years instead of two.
• Fee statements: no misrepresenting the fee.
• Securities: no "portfolio assessments of securities holdings".
• Adviser status: never holding itself out "as an investment advisor in any way".

How did the 12% refund formula work?#

Each customer who filed a claim received the spread they paid minus a 12% spread, so the plan treated 12% as the reference line. The plan's Class 3 defines the refund as "the difference between the total spread charged on the transaction ... and a hypothetical 12% spread". The table shows the refund on a $100,000 purchase at four spreads, under the plan formula.

Can you still get money from the Lear Capital settlement?#

Probably not: the refunds came from the 2023 plan's fixed $5.5 million fund, and SafeOunce found no open claims process as of September 29, 2026. The Lear Capital settlement covered purchases from January 1, 2016, to March 3, 2022. Did you buy from Lear then and never receive a payment? Contact your state securities regulator. Vermont's regulator, for example, asked eligible residents to email dfrsecuritiesinfo@vermont.gov (June 29, 2023). The same alert said it "does not believe that any Vermont investors filed proofs of claim", so some eligible buyers never asked.

Cancellation, arbitration and restitution are the three ways money comes back. What each can do today is explained on how to get your money back from a gold IRA company.

Private lawsuits: arbitration, a platinum swap and a texting case#

Three private federal lawsuits against Lear show a pattern: courts sent the two fraud cases to private arbitration, and the texting case was dropped within two months. Arbitration is a private hearing before an arbitrator instead of a judge, and its results are usually not public.

Ireland v. Lear Capital, Inc., D. Minn. Civ. No. 12-2467, order of December 4, 2012. A customer's claims over "numismatic" gold coins bought in 2005 were stayed for arbitration. The court relied on the American Arbitration Association (AAA) clause in a 2005 "Shipping Insurance and Account Agreement"; today's contract uses JAMS instead. As recited by the court, two Lear employees valued the coins at $180,000 and $190,000 in the same chain of calls.

Patterson v. Lear Capital, Inc., D. Utah No. 2:20-cv-251, order of October 15, 2020. Patterson alleged he used $377,375 of retirement savings for Lear coins in October 2017. He alleged he swapped them for platinum bars valued at about $197,000 on September 14, 2018, worth about $141,527 by December 31, 2018. That is a drop of 62.5% in 14 months, computed from the allegations. He said he was told the key contract was "just a shipping agreement". The court sent his claims to JAMS arbitration in Los Angeles.

Cheung v. Lear Capital Holdings, Inc., C.D. Cal. No. 2:24-cv-08490, filed October 2, 2024. The claim was under the Telephone Consumer Protection Act, the federal law on sales calls and texts. It was voluntarily dismissed with prejudice on December 2, 2024, per docket summaries.

Regulator actions: state cases yes, CFTC and SEC actions none found#

All of Lear's regulator actions came from states and cities; SafeOunce found no CFTC or SEC action against Lear in searches on September 29, 2026. The CFTC is the federal commodities regulator and the SEC is the federal securities regulator. The Los Angeles case used California's Unfair Competition Law, and at least 42 regulators joined through the bankruptcy settlement. "None found" is limited to that search date.

SafeOunce tracks every precious metals IRA enforcement action it finds, federal and state. Lear's three cases sit in our list of precious metals IRA enforcement actions.

What Lear's own complaints and bankruptcy pages say, and leave out#

Lear's own complaints page, which ranks for "lear capital complaints", mentions a single 2019 case and gives no settlement amounts, as of September 29, 2026. The table compares four statements on Lear's complaints and bankruptcy pages with the documents behind them.

The complaints page also lists ratings, such as a ConsumerAffairs score of 4.9 from 1,664 reviews, which SafeOunce could not open to check.

Lear Capital Complaints: BBB, Trustpilot and What Customers Report#

Lear has 33 BBB complaints in three years against 149 BBB reviews, the highest complaint rate of the ten largest gold IRA sellers (September 29, 2026). It still keeps an A+ Lear Capital BBB grade and a 4.7 Trustpilot score. Lear Capital complaints fall into two groups: the public counts, and the patterns in court and regulator records. Both are covered below.

BBB and Trustpilot numbers, and their limits#

Lear's 33 BBB complaints on 149 reviews equal 22.1 complaints per 100 reviews, as of September 29, 2026. That is the highest complaint rate among the ten largest sellers SafeOunce tracks. The table ranks the ten largest gold IRA sellers by BBB complaints per 100 BBB reviews (September 29, 2026).

The A+ grade needs context. BBB accreditation is a paid membership. According to the BBB's rating overview, 90 of the 100 positive points in a grade relate to complaints, and reviews are not used. That is how Lear kept an A+ through $14.25 million in settlements. On Trustpilot, 89% of Lear's reviews are five-star and 1% are one-star; across the top ten sellers, five-star shares run from 89% to 99%.

Lear invites customers to review it on Trustpilot and replied to 100% of negative reviews there, typically within 48 hours, as of September 29, 2026. Trustpilot's score formula also adds seven 3.5-star reviews to every profile as a starting weight. Lear's complaints page also cites a "AAA" rating from the BCA, another business-rating group.

Why BBB, BCA and Trustpilot ratings cannot tell you the price is explained on our ratings guide.

What customers report: fee shock, first statements and swaps#

Court and regulator records show five repeated complaints about Lear: fee shock, low first statements, yes/no confirmations, costly swaps and contracts described as "just a shipping agreement". These are allegations about conduct from 2014 to 2020, before the 2021 settlements. Lear agreed to change these practices in 2021-2023. The five patterns are listed below.

• Fee shock: "2-3%" promised, 25% or 33% charged (see the New York case above).
• First-statement drop: a third lower on the first statement (see the New York case above).
• Recorded confirmation: a 33% fee inside yes/no questions (see the New York case above).
• Swaps: "underperforming" coins sold back "below spot price", with "an additional 14%" charged on platinum despite a no-fees promise (NY AG petition, ¶62). Patterson alleged a 62.5% drop after a platinum swap.
• Contract framing: the key contract described as "just a shipping agreement" (Patterson, 2020).

Recent reviews show smaller issues. Trustpilot's summary of recent reviews mentions "delayed communication and unusually slow follow-up responses" and disappointment with "buyback policies", as of September 29, 2026.

Each pattern has one defense. Get the spread per coin in writing before the call. Expect your statement to show metal value, not your price. Answer "no" if a number on the confirmation call differs from what you were told. Refuse swaps, and read the contract as the purchase contract it is.

A low first statement is the shock New York customers described. Why a gold IRA statement shows less than you paid is explained on our statement guide.

Lear Capital's Contract Terms (December 2025): What You Sign#

Lear publishes its full contract online (last updated December 2025): it gives you 24 hours to cancel and sends disputes to private arbitration in Los Angeles. You have one year and one day to bring a claim. Not every seller publishes its contract (Goldco, for example, does not), and Lear's is one of the more complete ones SafeOunce has read. The table compares four sellers' contract terms, from documents read on September 29, 2026.

All ten sellers are compared on gold IRA company contracts.

24-hour cancellation: when the clock starts and how to use it#

Lear's terms give you 24 hours to cancel after it delivers the written invoice: "Customer then has 24 hours to cancel the transaction without penalty". The terms add: "Certain states require longer cancellation periods, which LC honors." This right came from the 2021 Los Angeles agreement.

Arbitration, the 30-day opt-out and the one-year claim deadline#

Lear's contract sends every dispute to one arbitrator in Los Angeles, run by JAMS, and lets you opt out within 30 days. The catch: after an opt-out, Lear "shall have the right to rescind Customer's purchase transaction for a full refund". JAMS is a private company that runs arbitrations.

The clause reads "FINAL, BINDING ARBITRATION IN LOS ANGELES, CALIFORNIA, BEFORE ONE ARBITRATOR". The hearing may move to your county if travel is a hardship. You also give up class actions, the lawsuits where customers sue together as one group. The opt-out must come "within 30 days of the date on which Customer first accepts this Agreement". Claims must be brought "within 1 year plus 1 day".

Courts have enforced Lear's arbitration clauses before, in Ireland (2012) and Patterson (2020). The cost to start is modest: JAMS caps the consumer filing fee at $250 where its consumer standards apply.

Do-Not-Call waiver, payment, delivery and liability terms#

Four more clauses matter: a Do-Not-Call waiver, payment within 5 business days, delivery of non-IRA orders within 28 days, and a cap on what you can recover. Each is quoted briefly below.

• Do-Not-Call waiver: Lear may call you "regardless of whether or not the telephone numbers appear in the 'National Do Not Call Registry'".
• Payment: due "within five (5) business days"; late payment lets Lear resell and charge you any loss.
• Delivery: non-IRA orders ship "no more than twenty-eight (28) days" after funds clear, the same 28-day line the CFTC uses for "actual delivery" (release 8215-20, 2020).
• Liability: limited to what you paid "(LESS THE VALUE OF THE PRECIOUS METALS RECEIVED)", except for California buyers; complaints about the quality of non-bullion items are due within 15 days of delivery.

Signing the contract means Lear may keep making cold calls to you. How to stop gold IRA cold calls and what the Do-Not-Call rules allow is on our calls guide.

The 15-day limit on non-bullion quality complaints means you should check a home delivery of such coins at once. For IRA metal, the check is your custodian statement and the depository record.

The steps to check delivery of IRA metal are on our delivery checklist.

What Lear's own contract says about risk#

Lear's own contract tells customers to keep precious metals under 20% of their investable money and to hold them at least 3 to 5 years, preferably 5 to 10. Section 1.6 says a customer "should not invest more than twenty percent (20%) of Customer's available investment funds in Precious Metals". Lear's bankruptcy page adds that "Lear Capital, LLC cannot guarantee, and makes no representation, that any metals purchased will appreciate at all."

Lear Capital Spread: 2% to 35%, and 23.4% on Average in 2022#

Lear's contract says its spreads "generally range between 2% and 35% of the quoted purchase price", and its own 2022 average was 23.4%. That average, with a maximum of 33%, is Lear's own figure, stated in its court-filed Chapter 11 plan. The spread is the share of your price that is not metal: Lear defines it as its price minus its cost. The ask is the price Lear sells at; the bid is the price Lear pays you back.

The plan says "the Debtor's spread can be as much as 33% (in 2022, the average spread was 23.4%) of the retail, ask price". The plan also says "The Debtor contends its spreads are consistent with its competitors". The contract says the spread "covers LC's operating expenses (for example, insurance, rent, salaries, marketing) and LC's profit". Every published spread range is compared on gold IRA markups and spreads.

For scale, the CFTC says legitimate dealers' spreads are often under 20% (10 Things, 2024). It puts bullion at 5% to 10% over spot (release 8215-20, 2020). Lear shows coin prices online but not the spread per coin, which appears only on the voice confirmation and the invoice. The range is wide, so ask for your number.

How much gold must rise before you break even with Lear#

At Lear's 2022 average spread of 23.4%, gold must rise about 37% before a customer who sells back to Lear gets back to even. The extra rise is needed because Lear's buyback bid sits below its own cost. The table shows the rise needed at five spreads from Lear's own documents.

A break-even calculator runs the same math for any spread. Test your own spread in the gold IRA break-even calculator.

Where Lear's spread goes: 2.5% to 2.8% profit#

Lear kept only 2.51% of revenue as net profit in 2020 and 2.77% in 2021, so most of its spread paid for selling costs, according to its own bankruptcy plan. In 2020, Lear reported $178,403,458 of revenue and $4,482,313 of net profit. In 2021, it reported $221,724,775 of revenue and $6,132,781 of net profit. In 2022, the year it filed Chapter 11, revenue fell to $146,581,414, about 34% below 2021 (SafeOunce computation from the plan).

These are company-wide ratios, so the split on any single order can differ.

Lear Capital Fees in 2026: Setup, Annual and Storage#

Lear's IRA FAQ lists $315 for the first year and $235 for each later year, with electronic statements and non-segregated storage, as of September 29, 2026. Those account fees are the small part of the cost; the spread on the coins, covered above, is the large part. The FAQ says: "The fee for the first year is $315 and $235 each subsequent year." The table lists Lear Capital fees and their conditions.

Segregated storage keeps your own coins apart and returns the same pieces. Non-segregated storage is shared: you get back the same type and amount, maybe not the same pieces. Both are allocated to you. Lear is one of the few sellers that publish both yearly account fees and a spread range (September 29, 2026).

Account fees are only one of the gold IRA fees you pay. Lear's $235 a year is near the low end of the later-year fees other large sellers publish: Goldco $225 or $275, Augusta $235, Birch about $235 and Noble $275 or $285 (September 29, 2026). Every custodian and seller is compared on gold IRA fees.

Fee figures on Lear's FAQ vs review sites#

Review sites still print older Lear fees: $280 and $200 (LendEDU, WallStreetZen) or $305 and $225 (Finder), while Lear's FAQ shows $315 and $235 as of September 29, 2026. The table shows each source, its figures and its date.

LendEDU's and WallStreetZen's $280 / $200 are $35 a year too low, which understates ten years of fees by $350. Finder's $305 / $225 is $10 a year too low. WallStreetZen also puts the total paid at "over $8 million", which leaves out the $5.5 million refund fund.

The custodian Lear names, and its own fee schedule#

Lear's FAQ names its IRA custodian as "Self Directed IRA Services, Inc.", the former name of STRATA Trust Company, a Texas trust company in Waco that rebranded in 2017. Lear's FAQ uses STRATA's pre-2017 name, and SafeOunce has not confirmed with Lear which fee schedule applies. The table sets Lear's published fees against STRATA's current public schedule.

Lear's $235 is lower than STRATA's public $265 for non-segregated storage. That does not make either figure wrong: dealer channels can carry negotiated schedules. STRATA's full schedule is explained on our page about STRATA Trust fees.

Fees Lear does not list: selling, moving and closing#

Lear's FAQ lists no exit costs, but custodians charge to sell metal, move it or close the account. The three items below come from STRATA's public schedule (August 31, 2026) and matter if your custodian is STRATA.

• Sale: $75 per sale ($40 + $35 depository handling).
• Closure: $250 to close the account.
• Re-registration: the schedule lists a $100 asset re-registration fee; it does not say whether this applies to metal moved in kind, so ask STRATA.

Lear itself charges no spread when it buys back metal it sold you (terms, section 1.3). Exit charges, also called termination fees, differ by custodian, so ask for them before you open the account. Every custodian's exit charges are compared on gold IRA termination fees.

Lear Capital Minimum Investment: Not Published#

Lear does not publish a minimum investment for a gold IRA, as of September 29, 2026. Its offers start at set amounts: $50 of setup covered above $10,000, and fee waivers from $25,000. Lear's affiliate contract counts a sales lead only when a person shows more than $10,000 of interest.

The IRS sets no minimum either. The 2026 IRA contribution limit is $7,500, plus $1,100 catch-up at age 50 or older (IRS Notice 2025-67). So most gold IRAs start with a transfer or rollover of old savings.

Small accounts pay more in percentage terms. At $25,000, $235 a year is 0.94% of the balance every year, before any spread; at $100,000 it is 0.235%.

Other sellers publish minimums from $5,000 (Birch) to $50,000 (Augusta, per its FAQ updated September 23, 2026), as of September 29, 2026. Every published figure is compared on gold IRA minimums by company.

What a $100,000 Lear Capital Gold IRA Costs: Year 1 and 10 Years#

A $100,000 Lear Capital gold IRA costs $315 in account fees in year one and $2,430 over ten years, before the spread. At Lear's 2022 average spread of 23.4%, the spread and buyback gap add $26,991 if you sell back. The first table shows the fixed fees from Lear's IRA FAQ (September 29, 2026).

The table adds the spread and buyback gap to Lear's published fees, with the metal price held flat.

The spread decides the total cost, not the fees. At 2%, fees and spread take about 9% of $100,000 over ten years; at 23.4%, about 29%. At Lear's average, the spread loss is about 11 times ten years of fees.

Your first custodian statement values the metal at market value, not at what you paid. Custodians value holdings at spot or bid, without the dealer's markup. At 23.4%, $100,000 shows as about $76,600 of metal before any buyback gap. At 33%, it shows about $67,000: the "declined by a third" that New York customers described.

For comparison, buying and selling a 1-ounce Gold Eagle the same day at a large online dealer cost about 5%-7% on September 29, 2026 (SD Bullion snapshot: 5.39%). A gold IRA fee calculator lets you change the amount, the spread and the years. Run your own amount in the gold IRA fee calculator.

Lear Capital Promotions, Costed: Free Coins, the $500 Credit and Fee Waivers#

Lear advertises free coins, a $500 credit, a price match and free IRA fees, but the fee waiver covers only "Limited Mintage coins" (September 29, 2026). The free-coin offer reaches up to $15,000. Limited Mintage coins are the category with the highest spreads. The four offers and their conditions are listed below.

• Free coins: "Up to $15,000 in Free Coins" with a qualifying purchase (homepage; terms not published).
• $500 credit: "Get $500 and your FREE investor kit!"; the $500 "can be used for shipping, insurance charges or IRA custodial fees" (terms page header).
• Price match: Lear's homepage calls it a "Price Match Guarantee"; its terms are not published.
• Free IRA fees: year one from $25,000; years one and two from $50,000; years one to three from $75,000. The IRA FAQ adds "*Limited Mintage coins only", with reimbursement "after first month in storage".

Free silver and bonus coins are common gold IRA promotions, and someone pays for them. How other sellers fund free silver gold IRA promotions is explained on our promotions guide.

The three-year waiver is worth $785 ($315 + $235 + $235). One percentage point of spread on $100,000 costs $1,000, so the whole waiver is worth less than one point of spread. SafeOunce did not find a $2,000 free-silver offer on Lear's pages on September 29, 2026; the current offer is "up to $15,000 in free coins".

Lear's affiliate contract shows where the bonuses come from. Before paying review sites, it subtracts "the cost of any giveaways provided to induce the sale (e.g., reimbursed IRA custodial fees, bonus precious metals)" from gross profit.

If the coins you buy carry a low spread, a credit or free coins are real value. Ask for the spread first, then the bonus. Most offers start with a free kit. What happens after you request one of the free gold IRA kits (usually a sales call) is on our kits guide.

Lear Capital Buyback: What the Contract Promises#

Lear's contract does not guarantee a buyback: "The law prohibits LC from guaranteeing to buyback the Precious Metals LC sells". It pays the wholesaler's "highest list bid price", with no spread on buybacks of metal it sold you. The same section adds that "as of the date of the transmission of this Agreement, LC has never refused the opportunity to buyback". Lear's 2023 plan states the same policy: "The Debtor's policy is not to charge anything or make any profit when a customer (who purchased from the Debtor) liquidates."

The bid is the wholesaler's price, which sits below what Lear paid for the metal. So even with no buyback spread, you sell back below Lear's cost. The Lear Capital buyback wording matches the contracts of American Hartford Gold, Preserve Gold, Goldline and American Bullion, which carry the same "law prohibits" line.

Lear's buyback wording is more honest than "guaranteed buyback" marketing elsewhere. What each contract says is on gold IRA buyback programs compared.

Lear Capital Products: Bullion, Limited Mintage and Numismatic Coins#

Lear sells plain bullion coins and bars, "Limited Mintage" coins and numismatic coins, and the fee waiver applies only to Limited Mintage coins. Lear Capital gold and silver coins sit in all three groups, next to platinum. The CFTC calls "semi-numismatic" "a made-up industry term" and puts numismatic premiums at 40% to 200% over spot (release 8215-20, 2020). How numismatic coin upsells work, and the cases behind them, is on our upsells guide.

The three product types, and the IRA rule for each, are listed below.

• Bullion coins and bars: for example the American Gold Eagle, IRA-eligible by name under 26 U.S.C. 408(m)(3)(A). Bars must be at least .995 gold, .999 silver or .9995 platinum (408(m)(3)(B)).
• Limited Mintage and proof coins: a Limited Mintage coin comes from a small production run sold at a higher price. Eligibility depends on the coin, custodians decide what they accept, and spreads are higher.
• Numismatic coins: coins priced for rarity, not metal. Most are collectibles; if an IRA buys one, 26 U.S.C. 408(m) treats the cost as a taxable distribution.

The NY petition shows how product mix drives cost. It says Canadian wildlife coins called "underperforming" to one customer were sold to others at up to 33% (¶63). Bullion sold outside IRAs typically carried up to 10% (¶53). For an IRA, ask for 1-ounce bullion coins or bars and the spread per item. What custodians accept for proof coins in an IRA is on our proof coin page.

Lear Capital Custodian and Depository#

Lear names both: its FAQ lists "Self Directed IRA Services, Inc." (STRATA Trust Company's former name) as custodian and the Delaware Depository as the vault, as of September 29, 2026. Lear's FAQ calls the Delaware Depository an "IRS-approved depository". The IRS approves no depository: the law requires IRA bullion to be in the physical possession of a trustee (26 U.S.C. 408(m)(3)(B)). Every custodian's charter and fees are compared on gold IRA custodians.

The Delaware Depository carries $1 billion of all-risk insurance plus $100 million of contingent cover. Its insurance pays metal value, not the premiums you paid, and excludes war, terrorism, cyber events and confiscation. FDIC and SIPC insurance never cover IRA metal. The three questions to ask Lear about custody are listed below.

• Custodian: which custodian today, under which legal name, and which fee schedule applies?
• Title: is the depository account titled to my IRA, not to Lear?
• Storage: segregated or non-segregated, and at what yearly price?

Fees, insurance and audits are on our Delaware Depository profile.

Lear Capital Pros and Cons#

Lear's six strengths are about what it now puts in writing; its six weaknesses are about its record and the size of its spreads. The table sets six of each side by side, as of September 29, 2026.

Every gold IRA carries its own pros and cons beyond Lear's. The general case for and against metal is on gold IRA pros and cons.

Risks of Investing With Lear Capital, and Who It Suits#

The main risk with Lear is the spread: at its own 2022 average of 23.4%, gold must rise about 37% before you are even. You also have only 24 hours to cancel. Lear suits a buyer who wants bullion only and gets the spread per coin in writing first. One average IRA customer was worth about $12,191 in gross profit to Lear, as an illustration ($52,100 average IRA deal in 2015 x 23.4%). That explains the phone calls and the offers.

The table gives a verdict for eight reader situations, as of September 29, 2026.

You should ask Lear the 6 questions below before the invoice. For sales by phone, the FTC's Telemarketing Sales Rule requires the seller to disclose the total cost before you pay (16 CFR 310.3(a)(1)(i)). Question 1 then shows how much of that cost is not metal.

1. Ask the spread per coin in dollars and percent.
2. Ask whether each item is bullion or Limited Mintage.
3. Ask what Lear would pay for the same coins tomorrow.
4. Ask for the contract and invoice by email before the voice confirmation.
5. Ask when the 24-hour window starts and how to cancel.
6. Ask which custodian (current legal name) and which fee schedule applies.

These six come from a longer checklist on how to choose a gold IRA company. The full list of 12 questions is on how to choose a gold IRA company.

How SafeOunce Rates Lear Capital#

SafeOunce rates Lear Capital on 7 criteria worth 100 points, from documents and a written price quote, and any item Lear does not disclose scores zero. SafeOunce's rating card for Lear is computed at build from methodology version 1.0, not written by hand. Until a written quote arrives, the card shows the rating as pending. The measured bullion premium (A1, 15 points) and sales pressure (F, 10 points) wait on a written quote and a test call.

The table lists each criterion, its points and Lear's inputs as of September 29, 2026.

Lear's 2021-2023 settlements are scored under the methodology's legal-record criterion; whether they also exclude Lear from best-of lists is set out on our methodology page. Weights and evidence rules are on how SafeOunce rates gold IRA companies.

How Does Lear Capital Compare With Other Gold IRA Companies?#

Lear publishes more about its prices and fees than most rivals, but it has the heaviest public record and the highest complaint rate of the large sellers. The table compares Lear Capital with five rivals on the same four fields, as of September 29, 2026.

The best gold IRA companies are ranked on the same records, with the spread counted. Rankings by real cost and legal record are on best gold IRA companies.

Lear Capital vs Goldco, Goldline and other pairs#

Against Goldco, Lear publishes a spread range while Goldco does not, but Goldco has a lower complaint rate: 4.2 per 100 BBB reviews against Lear's 22.1 (September 29, 2026). Goldco also sets a $25,000 minimum, while Lear publishes none (same date). The side-by-side table is on Goldco vs Lear Capital.

Lear appears in six other pairs. The first three are Lear Capital vs Goldline, Birch Gold Group vs Lear Capital and American Hartford Gold vs Lear Capital. The other three are Augusta Precious Metals vs Lear Capital, Noble Gold Investments vs Lear Capital and Lear Capital vs Priority Gold.

Lear Capital vs Rosland Capital: one survived, one failed#

Lear and Rosland used the same contract template and similar spread ranges, but Lear survived its 2022 Chapter 11 while Rosland filed a liquidating Chapter 11 on July 2, 2026. Both contracts use the identical $40 / 20% / $32 / about $30.50 buyback example. Lear's December 2025 terms give 2%-35%; Rosland's 2024 agreement gave 4%-33%. Rosland's filing lists about $60.8 million owed to about 617 customers (Bankr. C.D. Cal. 2:26-bk-16650-BB). What Rosland's customers are owed is on our Rosland Capital bankruptcy page.

What happens to your account when a seller fails is on failed gold IRA companies.

Lear Capital's spokespeople: Judge Napolitano and Glenn Beck#

Lear's homepage features Judge Andrew P. Napolitano, whom Lear itself describes as a paid spokesman, and Lear's site has a page announcing an endorsement by radio host Glenn Beck. A celebrity name tells you nothing about the spread. The CFTC warns in general that fraudulent dealers "target their ads to political or religious programming just to gain your trust" (CFTC release 8881-24). This is a regulator's general warning, not an allegation against Lear. Who endorses which seller is tracked on celebrity gold IRA endorsements.

Does Lear Capital pay review sites?#

Yes: Lear's affiliate contract (updated August 1, 2025) pays review sites $175 to $225 per qualified lead plus a share of its gross profit. It also requires them to tell readers their reviews "are not neutral or independent". The share is not established: the contract's words say five, six and seven percent, while its figures say 8%, 9% and 10%. A lead counts only after "a Lear Capital sales representative" has spoken with you, and New York leads do not count.

The contract even names "Lear Capital Reviews" as its example of a branded keyword affiliates may not use without approval. Best-of lists show the same pattern. Forbes Advisor labels Lear "Best for Longstanding Experience" (June 26, 2026; earlier "Free IRA Setup") and Yahoo Finance calls it "Best value" (May 1, 2026), with no mention of the settlements. Money.com lists Lear only in its paid "Our Partner Company Highlight" block, not among its 8 editorial picks (September 29, 2026).

How gold IRA review sites are paid, including under Lear's contract, is explained on our reviews guide.

SafeOunce takes no money from any company named on this page. Many review pages are paid when you contact a company; see who pays SafeOunce.

Does Lear Capital sell gold and silver outside an IRA?#

Yes: 63.6% of Lear's 2022 revenue came from direct sales to consumers, and its terms promise delivery of non-IRA orders within 28 days after funds clear. Outside an IRA, the metal is yours to keep where you like.

Can you keep Lear Capital IRA gold at home?#

No: IRA bullion must be in the physical possession of a trustee, and Lear ships IRA metal to the Delaware Depository. The Tax Court applied this rule in McNulty v. Commissioner, 157 T.C. No. 10 (2021), where coins kept at home counted as a taxable distribution. The court case is covered on home storage gold IRA.

Is Lear Capital a publicly traded company?#

No: Lear Capital is privately held; its bankruptcy plan describes Lear Capital, Inc. as an S corporation owned 100% by Kevin DeMeritt, and today's seller is an LLC. Searches for "lear capital stock" can surface Lear Corporation, an unrelated company that files with the SEC.

How do you report a problem with Lear Capital?#

Report it to your state securities regulator and attorney general first: every government action against Lear so far came from states and cities. The CFTC tip line is 866-366-2382, and the FINRA Senior Helpline is 844-574-3577. Lear's plan requires it to keep complaint records for seven years. Which agency handles what is on how to report a gold IRA company.