Disclosure: Our content isn't financial advice. Do your due diligence and speak to your financial advisor before making any investment decision. We may earn money from products reviewed. (Learn more)
Lear Capital is one of the oldest names in precious metals IRAs, and also one of the most litigated. I first reviewed it years ago, when its TV ads were everywhere and its paperwork was full of fine print. Since then it has paid a $6 million settlement to New York, gone through a Chapter 11 bankruptcy, refunded investors in more than 40 states and changed how it discloses fees. This 2026 update covers where Lear stands today, what it actually charges, and who should still consider it.
Lear today: strong customer reviews and clearer disclosures since its 2022 settlements, but its markups have historically been high. If you call, ask for the price per ounce over spot in writing.
Want plain bullion pricing and a cleaner record? Noble Gold is the company I recommend first for most gold and silver IRAs.
| Lear Capital at a glance (October 2026) | |
|---|---|
| Founded | 1997 by Kevin DeMeritt |
| Headquarters | Los Angeles, California |
| Products | Gold, silver and platinum coins and bars; precious metals IRAs and cash purchases |
| Minimum | No published minimum |
| IRA fees | $50 setup (covered on deposits of $10,000+); $305 the first year, then $225 a year including storage |
| Storage | Delaware Depository |
| Ratings | Trustpilot 4.7/5 (3,288 reviews), BBB A+, BCA AAA |
| Legal history | $6M New York AG settlement (2022), Chapter 11 bankruptcy (2022), $5.5M multistate refund plan (2023) |
← Swipe sideways on mobile to see the full table.
Lear Capital: the short answers
Is Lear Capital legit?
Yes, Lear Capital is a real precious metals dealer that has operated since 1997 and delivers the metal it sells. But it has a serious regulatory history: in 2022 it paid New York $6 million over undisclosed commissions of about 33%, and a 2023 bankruptcy plan returned $5.5 million to investors after investigations by more than 40 state regulators.
What was the Lear Capital lawsuit about?
New York’s attorney general sued Lear in 2021, alleging it pushed retirees to move savings into metals without clearly disclosing that roughly a third of each investment went to commissions and markups. Lear settled for $6 million in January 2022, then filed Chapter 11, and agreed to a $5.5 million refund plan with state regulators in 2023.
How much does a Lear Capital IRA cost?
Finder lists a $50 setup fee, covered on deposits of $10,000 or more, and annual fees of $305 the first year and $225 after that, including storage. Larger deposits can get one to three years of fees waived. The bigger cost is the markup on the metal, which you should get in writing.
Is Lear Capital a good choice in 2026?
It can be, for investors who value its long track record and strong reviews and who insist on written pricing. Readers who want the lowest markups on plain bullion usually do better comparing at least one other company first.
Lear Capital’s lawsuits and bankruptcy, explained
This is the part most Lear reviews skip, so I will lay it out plainly. These are the official records, not rumors from forums.
| Date | What happened |
|---|---|
| June 2021 | New York Attorney General Letitia James sued Lear Capital and its founder, alleging it did not disclose that about 33% of customers’ investments went to commissions and that it overstated the value of the metals it sold. |
| January 2022 | Lear settled with New York for $6 million and agreed to disclose its commissions on calls and invoices, give customers a 24-hour cancellation window and keep a searchable complaint database. |
| 2022 | Facing further actions, including from the City of Los Angeles, Lear filed for Chapter 11 bankruptcy. |
| August 2023 | A $5.5 million bankruptcy plan, negotiated with at least 42 state and territory regulators, refunded investors who bought metals between January 1, 2016 and March 3, 2022. Lear agreed not to misrepresent fees or act as an investment adviser. |
← Swipe sideways on mobile to see the full table.
You can read the New York Attorney General’s settlement announcement and the South Carolina Attorney General’s summary of the multistate refund plan for the full details.
Lear Capital fees and pricing
Lear’s account fees are in line with the industry. The figures below come from Finder’s May 2026 review of Lear Capital; confirm current numbers with Lear before you fund an account.
| Fee | Amount | Notes |
|---|---|---|
| IRA setup | $50 | Covered on deposits of $10,000 or more |
| Annual account fee, year one | $305 | Includes storage |
| Annual account fee, after year one | $225 | Includes storage |
| Fee waivers | 1 to 3 years | First-year fees waived at $25,000 to $50,000; two years at $50,000 to $75,000; three years at $75,000+ |
| Shipping and insurance | $24 plus $1 per $1,000 (gold), $13 per $1,000 (silver) | On deliveries |
| Dealer markup | Not published | The cost that matters most; ask for it per ounce |
← Swipe sideways on mobile to see the full table.
The fee waivers look generous, but a waived $225 storage fee is small next to a markup of several percent on a $50,000 purchase. When I compare dealers for readers, I always put the price per ounce over spot side by side first, then the fees.
Lear Capital products
Lear sells IRA-eligible gold, silver and platinum, plus non-IRA coins for cash buyers. Popular IRA choices include American Gold Eagles, American Gold Buffalos, Austrian Philharmonics, American Silver Eagles, Canadian Silver Maple Leafs, Platinum American Eagles and gold and silver bars in several sizes. It does not offer palladium.
One correction to older versions of this review: South African Krugerrands are only .9167 fine, so they cannot go in an IRA even though Lear sells them for cash purchases. My silver IRA guide explains the fineness rules if you are adding silver.
How a Lear Capital IRA works
Lear acts as the dealer and coordinates the account with a self-directed IRA custodian; historically that has been STRATA Trust Company, so confirm the current custodian on your application. You can read my STRATA Trust review for how that custodian handles fees and service. Metals are stored at the Delaware Depository, one of the largest IRS-approved vaults in the country, with segregated or commingled storage available.
Lear also offers a 24-hour window to cancel an IRA purchase without fees, which came out of its New York settlement. Use it: if the invoice shows a different price than you were quoted, cancel and start over. If you are moving money from a 401(k), my gold IRA rollover guide shows how to keep the transfer tax-free.
Lear Capital reviews and ratings
Customer reviews are where Lear looks strongest, which is a big change from the years when its complaint file was growing.
| Platform | Rating | Detail |
|---|---|---|
| Trustpilot | ★★★★★ 4.7/5 | 3,288 reviews; 89% five-star, 1% one-star |
| Better Business Bureau | A+ (accredited) | Customer reviews average about 4.75/5 |
| Business Consumer Alliance | AAA | Highest BCA rating |
← Swipe sideways on mobile to see the full table.
Reading through recent reviews, praise centers on patient account reps, fast IRA setup and on-time delivery. The complaints that remain are mostly about pricing: customers who later discovered how far above spot they paid, or who received a lower buyback offer than they expected. That pattern matches what I see across the industry, and it is why written pricing matters.
- Phone : (800) 576-9355
- URL :
- Global Rating
- Good
User Rating
- 0 No reviews yet!
Founded in 1997, Lear Capital is well-known within the precious metals investment industry. The company offers an array of popular IRA-approved gold and silver coins. In addition, it offers premium gold and silver coins for collectors. Unfortunately, the company does not offer any palladium products. Lear Capital has a comprehensive Investor Resource section on its website, and offers plenty of information to keep clients informed about all aspects of precious metals investment.
Pros:
- Lear Capital offers a selection of popular gold and silver IRA-eligible coins- The company's partnered custodian is renowned STRATA Trust Company
- Storage is provided through the revered Delaware Depository, which is fully insured through Llyod’s of London
Cons:
- Lear Capital does not offer any palladium products at this time
Lear Capital management team
Founder and Chairman Kevin DeMeritt
Kevin DeMeritt founded Lear Capital in 1997 and remains its public face. He has given more than a thousand media interviews on the economy, market volatility, the national debt and diversification. He was also named personally in New York’s 2021 lawsuit, and the 2022 settlement required Lear and DeMeritt to disclose commissions on every sale.
Lear Capital pros and cons
Pros
- Nearly 30 years in business
- Strong recent reviews: Trustpilot 4.7, BBB A+, BCA AAA
- Published account fees with multi-year waivers on larger deposits
- 24-hour no-fee cancellation window on IRA purchases
- Gold, silver and platinum available
Cons
- $6 million New York settlement over undisclosed commissions of about 33%
- 2022 Chapter 11 bankruptcy and a $5.5 million multistate refund plan
- Markups on metal are not published
- No palladium
Lear Capital alternatives worth comparing
If Lear’s history gives you pause, or you simply want a second quote, these are the companies I would compare it with. My full ranking of the best gold IRA companies covers each in more depth.
- Noble Gold: my first pick for plain bullion pricing and a low-pressure process. See my Noble Gold review.
- Goldco: a large rollover specialist with a $25,000 minimum. See my Goldco review.
- Augusta Precious Metals: strong ratings and an education-first approach for accounts of $50,000 or more. See my Augusta review.
Get Lear’s quote in writing, then compare it against Noble Gold’s price per ounce on the same coins. Ten minutes of comparison can save thousands on a large rollover.
Get Noble Gold’s Free Investor Kit→
Get a Lear Capital Quote→
Lear Capital contact information
- Phone: (800) 576-9355
- Address: 1990 South Bundy Drive, Suite 600, Los Angeles, CA 90025
- Email: customercare@learcapital.com
Lear Capital reviews: frequently asked questions
Is Lear Capital legit?
Yes. Lear Capital is a real precious metals dealer founded in 1997 that sells and delivers gold, silver and platinum and sets up precious metals IRAs. It also has a significant regulatory history, including a $6 million New York settlement in 2022 over undisclosed commissions and a $5.5 million multistate refund plan in 2023, so buyers should get pricing in writing.
Did Lear Capital go bankrupt?
Lear Capital filed for Chapter 11 bankruptcy in 2022 while facing actions from New York, the City of Los Angeles and other regulators. It continued operating, and its 2023 bankruptcy plan included $5.5 million in refunds for investors who bought metals between January 1, 2016 and March 3, 2022.
What is the Lear Capital lawsuit settlement?
In January 2022, Lear Capital agreed to pay New York $6 million to settle claims that it hid commissions of about 33% from customers and overstated the value of the metals it sold. The settlement requires Lear to disclose commissions on calls and invoices and to offer a 24-hour cancellation window.
What are Lear Capital’s IRA fees?
According to Finder, Lear charges a $50 setup fee, covered on deposits of $10,000 or more, plus annual fees of $305 in the first year and $225 afterward, including storage at the Delaware Depository. Deposits of $25,000 or more can qualify for one to three years of waived fees.
What is the minimum investment at Lear Capital?
Lear Capital does not publish a minimum investment, and several reviews list it as $0. In practice, fixed annual IRA fees make a precious metals IRA hard to justify for balances under about $10,000.
Is Lear Capital better than Noble Gold or Goldco?
Lear has strong recent customer reviews and a long history, but a heavier regulatory record. Noble Gold is my first pick for plain bullion pricing, and Goldco suits larger rollovers. Compare written price-per-ounce quotes from at least two companies before choosing.
My verdict on Lear Capital
Lear Capital in 2026 is a better company to deal with than the Lear of a decade ago. The settlements forced clearer disclosures, its customer reviews are strong and its account fees are reasonable. But its history centers on exactly the issue that costs gold buyers the most money: markups that are hard to see. If you use Lear, get the price per ounce over spot in writing, use the 24-hour cancellation window if anything changes, and compare at least one other quote first. For most readers, I would start with Noble Gold and use Lear as the comparison.
- Phone : (800) 576-9355
- URL :
- Global Rating
- Good
User Rating
- 0 No reviews yet!
Founded in 1997, Lear Capital is well-known within the precious metals investment industry. The company offers an array of popular IRA-approved gold and silver coins. In addition, it offers premium gold and silver coins for collectors. Unfortunately, the company does not offer any palladium products. Lear Capital has a comprehensive Investor Resource section on its website, and offers plenty of information to keep clients informed about all aspects of precious metals investment.
Sarah Bauder is a financial writer with over a decade of experience at numerous online publications, writing about alternative investments, retirement, US politics, world economy and more.
