Bottom line
Lear is a real operating dealer, but its pricing deserves unusually careful written verification. New York, Los Angeles, and multiple states pursued or resolved matters involving allegations about pricing, fee disclosure, or sales practices. At the same time, Lear remains in business and currently publishes a fee schedule, a 24-hour cancellation policy, and transaction terms that disclose a spread range.
Our editorial approach is therefore simple: no numeric “rating,” no “not a scam” verdict, and no paid Lear CTA. Compare the exact written quote against at least one other dealer.
Current Lear Capital Gold IRA Minimum and Account Fees
Lear's current published Gold IRA fee guide states a $10,000 minimum contribution for a Gold IRA. Direct-purchase minimums vary by product. Lear's current fee pages also publish the following account-cost example.
| Cost | Current published amount | Notes |
|---|---|---|
| Gold IRA minimum | $10,000 | Direct-purchase minimums vary by product. |
| Application/setup | $50 one time | Lear's current fee guide. |
| Wire | $30 one time | Included in year-one example. |
| Annual maintenance | $125 | Recurring account administration. |
| Non-segregated storage | $110/year | Published storage example. |
| Segregated storage | $160/year | Higher-cost storage option. |
| Year one total | $315 or $365 | Before the dealer spread in the metals price. |
| Later annual total | $235 or $285 | Depends on storage choice. |
Lear also publishes tiered fee-coverage promotions. Its IRA FAQ says certain fee reimbursements depend on purchase size and are tied to limited-mintage coins. Treat any “free fees” offer as part of the whole quote: ask whether the promotion changes the product mix or premium.
The Bigger Cost: Lear's Published Spread Range
Lear's current online transaction terms define its “spread” as the difference between the retail price quoted to the customer and Lear's cost to acquire the metals. The terms say spreads generally range from 2% to 35% of the quoted purchase price, varying by metal, customer, transaction type, and time.
Lear's terms also say future buyback is not guaranteed. The company says it will provide current buyback pricing and, for metals bought from Lear, uses a wholesaler bid. The same terms warn that the bid can be lower than the original retail price and that metals must appreciate enough to overcome the original purchase-to-buyback gap.
Custodian, Storage and the 24-Hour Window
Lear currently identifies Equity Trust Company as its primary Gold IRA custodian and Delaware Depository as a storage facility. Some current Lear educational material also references Brink's Global Services, so confirm the actual custodian and depository on your own account paperwork.
Lear's current FAQ markets a 24-hour risk-free purchase guarantee. That policy should be read in context: earlier New York and Los Angeles settlements required 24-hour cancellation protections for covered transactions. The Los Angeles stipulated judgment also required clearer written invoices and fee disclosures for covered transactions.
Current Public Ratings — Checked November 4, 2026
| Platform | Current signal | Context |
|---|---|---|
| BBB | A+; 4.81/5 from 151 customer reviews | 33 complaints in the last 3 years; 12 in the last 12 months. |
| Trustpilot | 4.7/5 from 3,304 reviews | 1-star share shown as 2%; company invites reviews. |
| ConsumerAffairs | 4.8/5 from 1,678 reviews | Current page also discusses pricing-transparency complaints. |
Ratings are useful signals, not regulatory endorsements. Read the complaint text and company response, not only the average score.
Three Regulatory / Enforcement Resolutions Readers Should Know
New York
In June 2021, the New York Attorney General sued Lear and founder Kevin DeMeritt, alleging hidden commissions up to 33% on more than $43 million in sales to nearly 1,000 New Yorkers. In January 2022, the office announced a $6 million consent order plus clearer fee disclosures, complaint tracking, personnel training, and a 24-hour cancellation period for retirement and certain higher-fee transactions.
Los Angeles
A 2019 City Attorney enforcement case alleged unfair and deceptive practices concerning fees and transaction disclosures. A stipulated judgment entered in February 2022 provided $2.75 million in monetary relief, including up to $2.475 million for customer compensation. The judgment states it is not an admission of fault or liability by Lear.
Multistate / Chapter 11 plan
State regulators investigating deceptive securities/commodities activity and misleading marketing reached a resolution embodied in Lear's Chapter 11 plan. The confirmed plan provided a $5.5 million customer fund for qualifying investors and required sales-practice and disclosure changes.
For the multistate distribution, regulator notices describe customers who transacted between January 1, 2016 and March 3, 2022. The settlement resolved past disputes but regulator notices said it did not prevent future enforcement for future violations.
We also searched major federal regulator sites for a newer 2024–2026 action naming Lear Capital and did not surface one in this check. That is not proof that no complaint, inquiry, or action exists.
What Recent Customers Criticize
This is not a prevalence study. We reviewed current BBB complaint material and accessible recent low-star review material to identify issues worth asking about. Themes visible in the current record include:
- Premium and spread disputes: customers alleging that the retail price or embedded spread was much larger than they understood.
- Product-selection disputes: customers saying they expected standard bullion or a specific metal quantity but received specialty or differently sized products.
- Buyback / liquidation value: frustration when later bids were materially below the original retail price or expected value.
- Distribution or liquidation delays: complaints involving delays in receiving proceeds or completing IRA-related transactions.
- Communication and written-detail disputes: customers asking for clearer written itemization rather than resolving questions only by phone.
These are customer allegations and experiences, not findings that each complaint is correct. Lear often disputes the customer's interpretation and points to recorded confirmations or transaction documents.
Rolling a 401(k) or IRA to a Lear Gold IRA
The federal rollover mechanics do not change because Lear is the dealer. For an eligible employer-plan distribution, a direct rollover payable to the receiving custodian generally avoids mandatory 20% federal withholding. If the taxable distribution is paid to you, the plan generally withholds 20% and the 60-day rollover clock starts.
See direct vs. indirect rollovers, rollover withholding, our rollover tax guide, and common rollover mistakes.
Seven Questions to Put in Writing
- What exact coin or bar, weight, purity, year/mint, and quantity am I buying?
- What spot-price reference are you using right now?
- What is Lear's spread percentage on each product in this quote?
- What would Lear bid today to buy the exact same products back?
- What are the custodian, storage, wire, shipping, liquidation, and account-closing fees?
- Does any fee-waiver promotion require limited-mintage or higher-premium products?
- When does my 24-hour cancellation window start, and how do I cancel in writing?
Use the copy-and-paste quote request in How to Choose a Gold IRA Company and compare the answers with Gold IRA fees explained.
Why Lear is not a sponsored recommendation here
The alleged harm in the regulatory record centers on pricing and disclosure—the same issues our Gold IRA scams guide tells readers to investigate. We therefore keep this page as due-diligence content rather than using the enforcement history as a lead-in to a paid referral.
Frequently Asked Questions
Is Lear Capital legitimate?
Lear Capital is a real precious-metals dealer operating since 1997. Its record also includes settlements with New York, Los Angeles, and a multistate resolution embodied in its Chapter 11 plan. Evaluate the company using current written pricing, complaint history, and regulatory records rather than a one-word verdict.
What is Lear Capital's current Gold IRA minimum?
Lear Capital's current published fee guide states a $10,000 minimum contribution for a Gold IRA. Direct-purchase minimums vary by product. Terms can change, so verify the minimum in writing before transferring funds.
What are Lear Capital's current IRA fees?
Lear's current published schedule lists a $50 application fee, $30 wire fee, $125 annual maintenance fee, and storage of $110 for non-segregated or $160 for segregated storage. That is $315 or $365 in year one and $235 or $285 in later years, before dealer spreads.
How large can Lear Capital's dealer spread be?
Lear's current online terms say spreads generally range from 2% to 35% of the quoted purchase price and vary by metal, customer, transaction type, and time. The exact spread is supposed to be confirmed during the transaction and shown on the invoice.
Does Lear Capital guarantee it will buy metals back?
No. Lear's current terms say it does not guarantee a future buyback. Lear says customers can request a current quote and that its offer is based on a wholesaler bid, which can be below the original retail purchase price.
What enforcement actions should I know about?
New York resolved a 2021 case with a $6 million consent order in 2022. Los Angeles resolved a 2019 enforcement case through a 2022 stipulated judgment providing $2.75 million in monetary relief. A multistate settlement was later embodied in Lear's Chapter 11 plan with a $5.5 million customer fund.
What should I ask for before buying?
Ask for the exact product, weight, purity, spot reference, retail price, spread percentage, same-day buyback quote, all custodian and storage fees, promotion conditions, and cancellation terms in writing before approving the transaction.
- New York Attorney General — 2021 Lear complaint announcement
- New York Attorney General — $6 million resolution
- Los Angeles stipulated judgment
- Georgia Secretary of State — multistate bankruptcy-plan settlement
- Lear Capital — current minimum and fee guide
- Lear Capital — current spread and buyback terms
- Lear Capital — IRA FAQ and 24-hour cancellation language
- BBB profile, Trustpilot, and ConsumerAffairs
This page is educational and is not personalized financial, tax, legal, or investment advice.
Related: Lear Capital complaints, lawsuits and settlements · Gold IRA fee database · Best Gold IRA companies.