FAQs
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The first step is establishing your new Precious Metals IRA account. Your dedicated Account team member will walk you through the simple application. It's only a few pages long and takes about 10 minutes to complete. We will help you send that back to our offices via fax, email, or mail. Upon receipt, we will process the application and have your new IRA account completely set up within 24 hours! Lear Capital will then immediately reach out to your current IRA custodian to arrange for the tax-free rollover of your retirement monies. Transferring the funds may take up to 5 business days, depending on your current IRA custodian. The funds are transferred usually via bank wire, and once they have been deposited into your Precious Metals IRA account, you are ready to get invested!
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Lear Capital, which has been in business for more than 25 years, is a reputable physical precious metal asset market organization. The Business Consumer Alliance AAA-rated company facilitates bullion and rare coin purchases, and helps investors diversify their portfolios through these purchases and by adding physical gold or silver assets to existing self-directed individual retirement accounts.
Since its 1997 founding, Lear Capital has successfully served more than 90,000 satisfied customers and processed more than $1 billion IRA-related transactions.
Lear Capital’s highly personalized approach to customer service includes providing each investor a dedicated account representative, who can help guide them through the steps involved in the precious metals investment process, and offering additional assistance via an 800 number investors can call during daytime hours to have any questions answered by a qualified customer service professional.
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Kevin DeMeritt is. After receiving a bachelor’s degree with a focus in business and economics from the University of Montana, DeMeritt worked in the international banking sector before founding Lear Capital in 1997.
DeMeritt also founded Wilshire Finance Partners, a private lending company specializing in real estate, in 2008.
DeMeritt, who is the author of The Bulls, the Bears and the Bust, has utilized his knowledge of financial trends and economic cycles to help investors purchase bullion, acquire premium rare coins, or add gold or silver to a self-directed individual retirement account to help safeguard their retirement savings during economic downturns.
With 20 years of experience working with investment-quality gold and other precious metals, DeMeritt has helped investors take advantage of periods of economic expansion and safeguard their savings against downturns. DeMeritt has also appeared in more than 1,000 interviews on talk radio programs, speaking about timely topics such as stock market volatility, the ramifications of U.S. debt, and ways investors can protect their retirement savings through diversification.
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Lear Capital will pay for your set-up and storage account fees* based on the invoice purchase amount. The tiered coverage is as follows:
$25K - $50K First year fees free. Reimbursement check sent after first month in storage.
$50K - $75K First/Second year fees free
$75K + First/Second/Third year fees free
> $10K $50 set-up fee covered*Limited Mintage coins only
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Lear always sends out your order invoice immediately after your purchase for you to review. You have 24 hours to take your time and find if you could purchase the metals at a better price. If you find a metal at a lower price we will beat or match that price. If we cannot match or beat the price, you can cancel your transaction with us at NO cost to you.
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In addition to being a Business Consumer Alliance AAA-rated company, Lear Capital has been appointed as an authorized dealer by the Professional Coin Grading Service, a key industry appraisal and certification provider. Lear also abides by the third-party Numismatic Guaranty Corporation coin-grading service’s standard of integrity, guaranteeing coin-grading accuracy and authenticity. In addition, Lear is accredited as an authorized dealer by the Industry Council for Tangible Assets.
The company believes in complete pricing and process transparency. To ensure that investors don’t receive any unexpected fees, the company clearly outlines every step of the precious metal acquisition process — and also offers a Price Advantage Guarantee policy. Investors receive a written account agreement and confirmation of the purchase details in writing and by phone.
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Some of the more than 90,000 customers Lear Capital has worked with in the past two-and-a-half decades have called the precious metals company “the best in the business” and a “very professional and knowledgeable” organization.
A number of investors posted reviews on the ConsumerAffairs website, such as Michele from Bangor, Pennsylvania, who said the silver purchases she made through the company were “smooth and easy.
“The representative gave me confidence in the company and was pleasant while doing it,” she said. “I would not hesitate to recommend this company and the representative I dealt with to my family and friends.”
Noel Roque, an investor who posted a review of his experience with Lear Capital on Trustpilot, said that his interaction with the company was so positive that he ultimately made two precious metal asset purchases.
“They gave me a fair and much appreciated discounted price,” Roque wrote. “Everyone, from the account executive, office staff [to the] CFO, were very personable and helpful. They made it an easy and enjoyable experience!”
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We give all customers on all orders 24 hours to review your order. You have 24 hours to take your time and make sure the purchase is exactly for you, if not, you can cancel your transaction with us at NO cost to you in that 24-hour time period. No questions asked. Your satisfaction is #1 at Lear.
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If you have a list of metals that you have purchased from other metals dealers or have inherited, Lear will conduct a Free Price Evaluation for you. The price evaluation includes individual pricing of each unique metal you own. If you would like us to track your portfolio (even if you didn't purchase it from Lear), we offer that as a free service on a quarterly or monthly basis as well.
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Lear Capital was founded 25 years ago by Kevin DeMeritt, who has a background in investing and currently is the chairman of the company, which has become a leader in the gold, silver and precious metals industry.
Since the late 1990s, Lear Capital has provided portfolio diversification services to tens of thousands of investors who were looking to realign their asset allocation, offset future market volatility or otherwise help safeguard their savings through precious metals-based investments.
Specifically, Lear Capital offers assistance with the purchase of bullions, limited mintage coins and rare coins — and helps investors add physical gold and silver assets to an existing IRA account.
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While the Lear Corporation, an automotive technology company, is publicly traded under the stock symbol NYSE: LEA, precious metals provider Lear Capital is a completely different business that is a private corporation, and thus does not have a stock symbol.
Founded more than 25 years ago by investment professional Kevin DeMeritt, Lear Capital has become one of the most recognized names in physical precious metal asset-based investing.
The company, which is based in Los Angeles, provides portfolio diversification services such as facilitating bullion and rare coin purchases and helping investors add physical gold and silver assets to existing IRA accounts.
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When you open a Precious Metals IRA with Lear Capital, you will be the proud owner of the actual physical metals you purchased. All of your hard assets are securely stored at a state-of-the-art, IRS-approved, insured private storage facility. Once you are age-eligible to take a mandatory distribution, you can choose to either take physical possession of your metals or liquidate your assets (in the appropriate amount, as determined by the IRS rules).
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Lear Capital ships (insured) all metals directly to the Delaware Depository IRS-approved depository vault. The Delaware Depository has been the industry leading IRS-approved depository for the safeguarding of precious metals since 1999. DDSC backs it storage services with an impressive, comprehensive insurance policy, underwritten by London Underwriters, one of world's oldest insurance providers. The Delaware Depository's state-of-the-art facility is the ideal solution for safe, secure, private storage of your precious metals.
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John Ohanesian is the CEO of Lear Capital. Prior to joining Lear Capital, he transformed the Bosley Inc. hair brand from a small startup to a global enterprise and leader in hair restoration services. Today, he leads Lear in offering a diverse array of investment resources, including real-time pricing information, email pricing alerts, and detailed descriptions of U.S. and internally produced gold, silver, and platinum coins.
In tandem with materials that can help investors understand and remain updated about the precious metals investment category, Lear Capital also provides portfolio diversification-related services.
Physical precious metal asset-based investments can provide reassurance to buyers that they have complete control of a tangible item, such as gold coins. This may present fewer third-party risks than gold-related stocks and exchange-traded funds, which can be affected by leadership decisions and other factors that could potentially impact their value.
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Lear Capital makes money from the precious metals-related services it provides. The company, which has earned an AAA rating with the Business Consumer Alliance, has been authorized as a dealer by the Professional Coin Grading Service, which has positioned it to provide customers with coin grading accuracy and authenticity.
Fees can be involved in establishing an IRA with a custodian. Investors will also pay insurance and storage fees if their precious metals are kept in a secure IRS-approved depository vault — such as the Delaware Depository, which backs its storage services with a comprehensive insurance policy that’s underwritten by Lloyd’s of London, one of the world’s oldest insurance providers. If physical loss or damage happens to occur because of fire, flooding, or another issue, the precious metal assets that are held at the depository are insured for their full value.
Lear Capital may charge separate fees that relate to the type of metal that is purchased, which start at 1%. As part of its commitment to ensuring that investors thoroughly understand all aspects of the precious metals investment process, including any related costs, Lear Capital sends a printed confirmation of the purchase details and follows up by phone to confirm that the information has been received. The company also provides a risk-free guarantee, which allows buyers to review their purchase and cancel their transaction at no cost, should they desire, within 24 hours.
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Each and every client account at the Delaware Depository is 100% insured for the full value of the metals stored. In addition, every package shipped from the Delaware Depository depository also carries full insurance coverage. The Delaware Depository provides an impressive, comprehensive insurance policy, underwritten by London Underwriters, one of the world's oldest insurance providers. The Delaware Depository's insurance policy protects your assets against physical loss or damage arising from any cause, even Acts of God (fire, flood, etc.).
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There are two safe, tax-free and penalty-free methods used to transfer money between retirement accounts: the direct trustee-to-trustee transfer and the 60-day rollover option.
- The trustee-to-trustee process moves your retirement monies from your current IRA provider directly into the hands of your new Precious Metals IRA provider.
- If the 60-day rollover method is used, your current IRA account provider mails a check to your home address; you will then simply mail that check directly to your new Precious Metals IRA provider. As long as this check is provided to the new IRA custodian and deposited into your new IRA account within 60-days, there are no taxes or penalties incurred.
We know this rollover process can seem complicated and we urge our clients to let us do the heavy lifting! With your consent, your IRA team member will assess which method would work best for your portfolio and will handle the entire process on your behalf, filling out the paperwork or making any necessary phone calls. Lear's IRA Department has successfully processed over $1 Billion of these types of transactions and you can rest assured your IRA team member will assist you step-by-step through the entire process.
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Lear Capital is headquartered in Los Angeles — however, the company serves investors across the U.S. In fact, Lear Capital has helped tens of thousands of consumers purchase physical precious metal assets over the years, such as gold bars and coins.
Because only a limited quantity of gold, silver, and platinum exists in the world, the precious metals have retained value over time, historically experiencing fewer severe price drops than some of the generally more volatile investment vehicles, like stocks, even during economic downturns.
In the 2009 recession, for example, gold prices rose — approximately 2.6% in 2008 and 13% in 2009. Similarly, premium rare coins have performed well during all 15 recessions the U.S. has experienced since 1919, according to Lear Capital data.
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Lear Capital’s executive leadership team includes founder and Chairman Kevin DeMeritt, who previously worked in international banking before launching Lear Capital in 1997, and CEO John Ohanesian.
DeMeritt is also known as the author of the book The Bulls, the Bears and the Bust and remains dedicated to helping investors capitalize on economic growth and proactively protect their savings against potential financial downturns.
In addition to Lear Capital’s chairman and CEO, the company employs an extensive staff of sales and customer service professionals to assist investors with purchasing items such as bullions, limited mintage coins and rare coins — and adding physical precious metal assets to self-directed IRA accounts.
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No. If you follow the procedures specified in Question No. 4, there are not taxes or penalties. And your dedicated IRA team member will work directly with you to ensure that the proper procedure is followed to ensure that we safely and securely rollover money between retirement accounts in such a way that does not incur any type of taxes or penalties.
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Opening or rolling over into Precious Metals IRA is a very easy process, thanks to the assistance provided by your IRA team member. We will assist you with filling out a simple IRA application to open your Precious Metals IRA account. You only need to provide your basic contact information and the contact information for one other beneficiary you'd like to list on your account. We accept forms via mail, fax, or email—whichever is easiest for you. In addition, we also use DocuSign to capture electronic signatures making the application process even easier; this means that you don't have to print anything out. Lear's IRA Department has successfully processed over $1 Billion of IRA transactions and you can rest assured your IRA team member will assist you step-by-step through the entire process.
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Lear Capital actually exited bankruptcy reorganization earlier this year. The services it offers remained unchanged during that period and after. Throughout 2023, the company has seen a robust interest in physical precious metal asset-based purchases. The number of Americans who view gold as the best long-term investment nearly doubled between 2022 and 2023, according to a Gallup poll published in May.
Lear Capital remains an active participant in the precious metals industry, having received authorized dealer accreditation from the Precious Metals Association and the Professional Coin Grading Service. Lear Capital is also a member of the International Council for Tangible Assets, which helps set precious metals industry standards, and received a five-star rating, indicating excellent customer satisfaction, from the consumer review website Trustpilot — in addition to an AAA rating from the Business Consumer Alliance.
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You may only rollover IRAs or other qualified retirement accounts into a Precious Metals IRA. Qualified retirement accounts include: Roth, SEP or a SIMPLE IRA, 401k, 403b, 457b, Pension plans, or Thrift Savings accounts. If you would like to know which account(s) you have that can be rolled over into a Precious Metals IRA account, our IRA team member is happy to help you. You can go over your options with our IRA team member over the phone prior to making any decisions or starting the process.
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It takes about 1 business day to open your new Precious Metals IRA and to receive your new IRA account number. The time is takes to transfer funds from one retirement account to another varies, depending on your current IRA custodian. On average, funds can be transferred within 5 business days.
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There is one payment of $280 for the first year for set up and maintenance and $200 annually thereafter. This includes the payment for storage, the cost of insurance to protect your metals, quarterly financial statements, and 24/7 access to view your account online. Compare this to the often expensive and complicated fee structure of many traditional IRAs and 401ks. Consider this: AARP recently conducted a survey on 401k participants' awareness of the features of their retirement plans. They found that 65% of participants thought they paid no fees at all, and only 17% stated that they do pay fees; 18% stated that they just don't know. It's no wonder! 401ks usually charge plan administration fees, individual service fees, and investment fees — a fact many people do not understand. Don't think you're necessarily safe with an IRA either! According to Mercer Bullard, a law professor at the University Of Mississippi School Of Law, “IRAs, where 401k assets unfortunately end up, have as high if not even higher fees on average.” One of the beauties of the self-directed Precious Metals IRA is a simple, transparent fee schedule that allows you to be in complete control of your assets against harmful hidden costs.
(Sources: http://www.cnbc.com/id/101019926 & http://www.marketwatch.com/story/9-things-you-need-to-know-about-401k-fees-2014-07-08)
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The IRA custodian, Self Directed IRA Services, Inc., offers 24/7 online access to your portfolio's performance as well as quarterly statements that can be mailed directly to your home address. The secure website is easy to navigate and makes it simple to track the performance of your precious metals.
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It's simple! First, you let your Lear IRA team member know whether or not you want the physical metals shipped straight to your front door, or if you'd like to receive cash instead. We can arrange for the metals to be securely shipped from The Delaware Depository's depository, or we can help you liquidate your metals in exchange for cash. Once liquidated, the distribution can be wired into your desired bank account or mailed to you via check. The choice is yours. It takes only 1 business day to process your distribution and the funds will be sent out immediately!
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Yes! If you are still making annual contributions to your retirement account, we can arrange to have those contributions automatically transferred into your Precious Metals IRA account on a recurring schedule. The contributions can sit in your account in a cash position earning a low rate of interest, or you can invest in more precious metals.
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Unfortunately, if your IRA account is invested in stocks, mutual funds, ETFs, bonds (or other traditional investment vehicles), then it is highly unlikely that your current IRA provider is able or willing to manage a physical asset such as precious metals. The brokerage firms that most people utilize to manage their IRAs are only equipped to buy and sell shares in the stock market and store information digitally. In order to invest your IRA in physical precious metals, you have to open a special type of IRA called a “Self-Directed IRA” and you should work with a company who contracts with an IRS-approved storage facility with experience managing physical assets. We will help you open one of these versatile Self-Directed IRAs so that you may invest in physical precious metals.
The statements made on this website are opinions only. Past results are no guarantee of future performance or returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same depending on a variety of factors. Lear Capital, Inc. cannot guarantee, and makes no representation, that any metals purchased will appreciate at all or appreciate sufficiently to make customers a profit. Lear is a retail seller of precious metals and its buyback (or bid) prices are lower than its sell (or ask) prices. Metals must appreciate enough to account for this difference in order for customer to make a profit when liquidating the metals. Lear does not provide financial advice or retirement planning services. The decision to purchase or sell precious metals, and which precious metals to purchase or sell, are the customer’s decision alone, and purchases and sales should be made subject to the customer’s own research, prudence and judgment.