Lear Capital Review

Is Lear Capital trustworthy?

Lear has the longest history on our list and the most serious regulatory record. It has sold precious metals since 1997 and has been BBB-accredited since that year. It uses Equity Trust, publishes the fee schedule and has a $10,000 IRA minimum.

In 2022 it paid $6 million to settle a New York Attorney General lawsuit. The suit alleged undisclosed commissions of up to 33%. Lear also agreed to $5.5 million in restitution through its Chapter 11 case. If you consider Lear, get the markup on every product in writing. Compare it with at least one other dealer.

Lear Capital at a glance

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All figures checked October 29, 2026.

Fees

Lear’s fee page lists:

• Application (setup): $50, one time
• Annual admin: $125
• Annual storage: $110 non-segregated or $160 segregated

That’s $235 or $285 a year. Lear states first-year totals of $315 or $365, which is about $80 more than the $50 setup fee would explain on its own. A $30 wire fee may be part of it; Lear doesn’t itemize the rest. Ask for a line-by-line first-year breakdown.

Lear says storage is flat, with no extra charge as you add metal.

Fee waivers (from Lear’s IRA FAQ), by invoice amount:

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Separately, Lear offers a $500 account credit when you request its investor kit, usable for shipping, insurance or custodial fees.

Lear doesn’t publish its markup. Compare on our fees page.

The New York Attorney General order

On January 3, 2022, the New York Attorney General announced that Lear Capital, Inc. would pay $6 million to resolve a lawsuit filed in June 2021 against Lear and its founder, Kevin DeMeritt. The lawsuit alleged that Lear:

• charged undisclosed commissions of up to 33% on millions of dollars in sales, and
• didn’t register in New York as a commodity broker-dealer and telemarketer as state law required.

Many of the investors were elderly residents of Western New York saving for retirement, according to the Attorney General.

Under the consent order, Lear agreed to give New York customers clear disclosure of its fees, a 24-hour cancellation period for retirement and certain higher-fee transactions, better complaint tracking, and staff training. The money went to eligible New York customers.

The multistate restitution

Lear filed for Chapter 11 in 2022. Through that case, a group of state regulators including California’s DFPI and the District of Columbia’s DISB reached a settlement for $5.5 million to go to investors who bought from Lear between January 1, 2016 and March 3, 2022.

These are allegations Lear settled. The New York Attorney General’s announcement describes the claims as allegations and does not say Lear admitted them. We didn’t find the consent order text itself, so we can’t say whether it contains an admission or a denial.

Minimum investment

$10,000 for a gold IRA. For cash purchases, Lear says minimums vary by product.

Custodian and storage

Equity Trust Company is custodian, and metal is stored at Delaware Depository Service Company. Lear’s page also mentions a Texas location without detail.

Products

Lear sells gold and silver, including its own exclusive coins (for example a 2026 Gold and Silver Lincoln coin, and a 1.5 oz Silver Eagle it describes as IRA-eligible). We didn’t confirm platinum or palladium, and Lear didn’t publish an IRA product list on the pages we checked. Exclusive coins typically carry higher markups than standard bullion. Ask for both prices side by side.

Buyback and cancellation

• Buyback: Lear says it can help you liquidate IRA metal for cash or ship it to you. It doesn’t publish a buyback guarantee or pricing.
• Cancellation: You can cancel within 3 business days of delivery without penalty. Lear offers a full refund or replacement within 30 days if goods are defective or not as represented. Its fee page also mentions a 24-hour risk-free purchase guarantee.

Promotions

• $500 account credit with the free investor kit
• Up to $15,000 in bonus coins; a $5,000 purchase qualifies for $100 in promo coins. The offer excludes bullion sales and runs until November 12, 2026.

Because the bonus excludes bullion, it pushes you toward non-bullion coins, which usually carry higher markups.

Ratings and complaints

• BBB: A+, accredited since September 18, 1997. 33 complaints in three years, 12 closed in the last 12 months.
• BCA: AAA, 2 complaints, member since September 1997.
• Trustpilot: 4.7 from 3,300 reviews, the most reviews of any company on our list.

Pros and cons

Pros

• In business since 1997; BBB-accredited since 1997
• Named custodian and depository
• Published Equity Trust fee schedule
• $10,000 IRA minimum
• Fee waivers of up to three years

Cons

• $6 million New York Attorney General settlement (2022) over alleged undisclosed commissions
• $5.5 million multistate restitution through Chapter 11
• No published markup
• First-year fees not fully itemized
• 3-business-day cancellation, shorter than American Hartford Gold’s 7 days
• Bonus coins exclude bullion

Who Lear suits

• Buyers with $25,000 or more who would use the multi-year fee waiver and will insist on written markups

Look elsewhere if a regulatory record matters to you. Augusta has 1 BBB complaint in three years, American Hartford Gold publishes its markups, and Priority Gold uses the same custodian and fee schedule.

How we reviewed Lear Capital

We read Lear’s fee page, IRA FAQ, rollover page, cancellation policy, about page and affiliate page; the New York Attorney General’s press release; the California DFPI and DC DISB releases; and its BBB, BCA and Trustpilot profiles on October 29, 2026. We didn’t open an account. See our methodology.