Lear Capital Reviews: Ratings, Settlements and Alternatives

Lear Capital is one of the oldest names in retail gold and silver. Founded in Los Angeles in 1997, it sells coins and bars for delivery and for gold IRAs, and it advertises widely, with commentator Judge Andrew Napolitano among its endorsers. It also has a more complicated public record than most of its peers: a lawsuit and settlement with the New York Attorney General, and a Chapter 11 reorganization that ended with a multi-state settlement for customers.

This review sets out both sides from primary sources: what Lear says about itself, and what regulators have said and agreed with it. We are not paid by Lear Capital and have not been its customer. Facts were read on Lear's website and the regulators' own press releases on November 5, 2026.

The short version: Lear Capital is an established, operating dealer with an A+ BBB rating, a named custodian and depositories, and a 24-hour cancellation period on every purchase. Its record also includes regulator allegations about undisclosed commissions and sales practices, resolved through settlements that required clearer disclosures. If you deal with Lear, get every price and the buyback price in writing and favor standard bullion. If you are moving $50,000 or more, Augusta Precious Metals, our first-ranked company, is the one we would call first.

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Lear Capital at a glance

Reputation and ratings

BBB. Lear's site displays an A+ BBB rating and says the company has been accredited since 1997. It also shows Trustpilot, Google and ConsumerAffairs badges and publishes customer reviews on its own site. Check current scores on each platform directly; any number quoted secondhand goes out of date quickly.

Industry credentials. Lear lists itself as a PCGS Authorized Dealer and a member of the National Coin & Bullion Association. These relate to coin grading and trade membership; they are not ratings of prices or service.

Endorsements. Lear features Judge Andrew Napolitano in its advertising. An endorsement is paid marketing, not a review.

The regulatory record

This is the part of Lear's history most reviews leave out or skip past. Here it is from the regulators' own announcements.

New York lawsuit (June 2021). The New York Attorney General sued Lear Capital and its founder, alleging that the company charged undisclosed commissions of up to 33 percent on more than $43 million in sales to nearly 1,000 New Yorkers, many of them elderly, and that it sold without registering as a commodity broker-dealer and telemarketer as New York law requires. These were allegations in a lawsuit.

New York settlement (January 2022). The Attorney General announced that Lear would pay $6 million under a consent order, with the money distributed to eligible New York customers. Lear also agreed to give New York customers clear disclosures of its charges, a 24-hour cancellation period for retirement and certain other transactions, better complaint tracking and staff training.

Chapter 11 and the multi-state settlement (2022 to 2023). Lear filed for Chapter 11 reorganization in 2022 while securities regulators in a number of states were investigating it. In August 2023, the Michigan Attorney General announced that, under Lear's bankruptcy plan, Lear would provide $5.5 million for customers who bought precious metals from it between January 1, 2016, and March 3, 2022, with refunds for those who filed claims and a pro rata distribution for others. As part of the plan, Lear agreed to improve its sales practices and disclosures, including not misrepresenting what it charges and not presenting itself as an adviser. The Michigan release says the regulators' allegations were resolved as part of that settlement.

Lear's position today. Lear's reputation FAQ says the company exited its bankruptcy reorganization and that its services continued unchanged during and after it. It remains in business.

What this means for you as a buyer: the issues regulators raised were about how much customers paid and how clearly that was disclosed, especially on coins. Those are exactly the things you can protect yourself against with written quotes.

Products and the bonus offers

Lear sells standard bullion as well as limited-mintage and rare coins, in gold, silver, platinum and palladium.

Lear advertises promotions such as cash added to your account when you request its free kit, and bonus coins on qualifying purchases. Read the terms: the bonus-coin offer on its site says it is not for bullion sales, so it applies only to the kinds of coins that usually carry higher markups. Compare the total you pay and the total metal you receive, not the size of the bonus.

Lear's own disclosures also state that its buyback (bid) prices are lower than its selling (ask) prices, so metals must rise in value before a buyer comes out ahead. That is true of every dealer; Lear's disclosure is commendably plain about it.

Gold IRA: custodian and storage

Lear names Equity Trust Company as its preferred IRA custodian, and says the custodian provides online access and quarterly statements. For storage it uses Delaware Depository, with a choice of segregated or non-segregated storage, and lists Brink's Global Services as well. Lear's IRA FAQ also describes a 24-hour risk-free purchase guarantee and a price-match offer on metals.

Costs: Lear publishes its IRA charges online. We do not reproduce cost figures on this site, because they change and depend on the options you choose, such as segregated storage. Ask for every charge in writing before you sign.

How Lear sells

Lear's disclosures state that its sales representatives are commissioned, with pay based at least in part on the amount and profit margin of what they sell. Lear also says it does not give financial advice. Treat any product recommendation as a sales recommendation, and ask why a particular coin is being suggested over standard bullion.

Lear Capital vs Augusta Precious Metals

Lear may suit you if you want a long-established dealer with four metals, named storage options and a short cancellation window, and you are comfortable insisting on written quotes.

Augusta Precious Metals may suit you if you are moving $50,000 or more, want the account explained in detail before any sale, and prefer a company whose process is built around education. Augusta is our first-ranked company; our Augusta Precious Metals review covers it in full.

Other alternatives we rank

• Goldco sells gold and silver for IRAs and direct purchase and has the most specific written buyback policy of the three companies we rank. See our Goldco review.
• American Hartford Gold states a $10,000 minimum order for its gold IRA and lets you choose a depository. See our American Hartford Gold review.

The full comparison is in our ranking and our guide to the best gold IRA companies.

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Claim Goldco's Free Gold IRA Kit

Claim American Hartford Gold's Free Guide

Questions to ask Lear Capital, or any dealer

• What is the price of each item, what is the spot value of the metal in it, and what would you pay to buy the same items back today?
• Is this standard bullion, or a limited-mintage or rare coin? Why are you recommending it?
• Does any bonus or promotion depend on buying non-bullion coins?
• How is my representative paid on this order?
• What does the custodian charge, and what does storage cost each year? Please put it in writing.
• How do I use the 24-hour cancellation period, and from when does it run?

Our gold scammer list shows what regulators have found across the industry, and our guide to gold IRA fees explains how to compare quotes.

FAQ

Is Lear Capital legit?

Lear Capital is an established dealer, operating since 1997, with an A+ rating displayed on its site. It has also settled regulator allegations: a $6 million settlement with the New York Attorney General in 2022 and a $5.5 million multi-state settlement through its bankruptcy plan in 2023. Get written quotes before you buy.

Did Lear Capital go bankrupt?

Lear filed for Chapter 11 reorganization in 2022 and exited it after its plan, which included a $5.5 million settlement for customers, was approved. The company is still in business.

What was the Lear Capital lawsuit about?

The New York Attorney General alleged in 2021 that Lear charged undisclosed commissions of up to 33 percent and was not registered as New York law requires. The case was resolved in 2022 with a $6 million consent order and changes to Lear's disclosures and practices in New York.

Who is Lear Capital's IRA custodian?

Equity Trust Company, which Lear has named its preferred IRA custodian since 2019.

Where does Lear Capital store IRA metals?

Lear says it ships IRA metals to Delaware Depository, with segregated or non-segregated storage, and also lists Brink's Global Services.

Does Lear Capital have a cancellation policy?

Yes. Lear says it offers a 24-hour cancellation period on purchases, with longer cancellation rights in some states under state law.

Is Lear Capital or Augusta better?

For larger rollovers, Augusta Precious Metals is our first-ranked company, with an education-first process. Lear offers four metals and a long history, but go in with written questions.

Is a gold IRA right for me?

That depends on your circumstances, which a website cannot judge. Gold pays no income and its price can fall. Speak with a licensed financial professional who is not paid on the sale.

The bottom line

Lear Capital has nearly three decades in business, an A+ BBB rating, a named custodian, a choice of storage and a 24-hour cancellation period. It also has a regulatory record centered on undisclosed commissions and sales practices, resolved through settlements that required it to disclose more clearly. If you deal with Lear, insist on written prices and buyback prices, favor standard bullion over special coins, and compare with at least one other company. For a larger rollover, start with Augusta Precious Metals.

Sources

• New York Attorney General: lawsuit against Lear Capital, June 17, 2021
• New York Attorney General: $6 million settlement with Lear Capital, January 3, 2022
• Michigan Attorney General: states recoup overcharges in Lear Capital bankruptcy, August 4, 2023
• Lear Capital: about us, IRA FAQ, reputation FAQ and refund policy, read November 5, 2026
• Augusta Precious Metals and American Hartford Gold websites, read in November 2026

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