Lear Capital: The Short Answer
Lear Capital is a long-running precious metals dealer that publishes its fee schedule. It has also faced significant regulatory scrutiny: a $6 million settlement with the New York Attorney General in 2022 over undisclosed commissions, and a Chapter 11 reorganization plan confirmed in 2023 that included settlements with several states. We rank Augusta Precious Metals and Noble Gold well ahead.
Lear Capital at a Glance
| Reported minimum | $10,000 |
|---|---|
| Reported fees | $50 application; $235–$285/yr |
| Fee waivers | Require buying limited-mintage coins (Yahoo Finance) |
| Fees posted online | Yes |
| New York settlement | $6 million, January 2022 (NY Attorney General) |
| Bankruptcy | Chapter 11 plan confirmed June 12, 2023 (Vermont DFR) |
Sources: Yahoo Finance 2026; New York Attorney General; Vermont Department of Financial Regulation.
Lear Capital Fees
Yahoo Finance reports a $50 application fee and annual fees of $235 for non-segregated storage or $285 for segregated, and notes Lear publishes its full fee schedule online. It also notes that fee-free storage requires a large investment in limited-mintage coins, which often carry higher premiums. That trade-off is exactly the kind of promotion to evaluate carefully; see free silver and fee promotions explained.
The New York Attorney General Settlement
In January 2022, New York Attorney General Letitia James announced that Lear Capital would pay $6 million to resolve a June 2021 lawsuit. The lawsuit alleged undisclosed commissions of up to 33 percent and targeting of elderly investors. Under the consent order, Lear agreed to clearly disclose fees, offer a 24-hour cancellation period for retirement and certain higher-fee transactions, improve complaint tracking, and train staff.
The 2023 Chapter 11 Plan and State Settlements
According to a July 2023 alert from the Vermont Department of Financial Regulation, Lear was in Chapter 11, with a reorganization plan confirmed on June 12, 2023. Vermont and other participating states settled with Lear over alleged unregistered activity and misleading marketing as part of that plan, including a $5.5 million contribution from Lear's principal. Eligible customers were to receive the difference between a hypothetical 12 percent fee and the fee Lear charged.
Lear Capital Pros and Cons
Pros
- Publishes its fee schedule
- Long operating history
- Agreed to clearer fee disclosure and a cancellation period under the NY consent order
Cons
- $6M NY settlement over undisclosed commissions
- Chapter 11 reorganization in 2023
- Fee waivers tied to limited-mintage coins
- Higher annual fees than several competitors
How Lear Capital Compares With Our Top Picks
| Augusta Precious Metals | Noble Gold | Lear Capital | |
|---|---|---|---|
| Reported minimum | $50,000 | $20,000 | $10,000 |
| Reported fees | ~$225/yr; zero fees up to 10 years (qualifying) | $80 application; $275/yr | $50 application; $235–$285/yr |
| Metals | Gold, silver | All four | Gold, silver, others |
| Support / buyback | Lifetime; salaried educators (company-stated) | Assigned specialists; stated buyback | Buyback at market rates (Yahoo) |
Augusta and Noble Gold figures from Yahoo Finance and independent reviews; see our Augusta review and Noble Gold review.
Who Should Consider Lear Capital?
Lear may appeal to buyers who value a published fee schedule. Given its regulatory history, we suggest comparing written quotes with our top picks before committing.
Questions to Ask Before You Sign
- What are the setup, custodian, and storage fees, in writing?
- What is the price per ounce and the spot price for each product you recommend?
- What would the order cost without any bonus or promotion?
- Which custodian and depository will hold my account?
- How is your buyback price calculated?
Augusta's company comparison checklist and our 10-point checklist cover these in more depth.
Our Verdict
We rank Lear Capital #6 of 8 in our best gold IRA companies list. For balances of $50,000 or more, start with Augusta Precious Metals, which publicly warns against premium-heavy products. For smaller balances, Noble Gold publishes flat fees with segregated storage included.
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Frequently Asked Questions
Is Lear Capital Legit?
It's an established dealer, but it paid $6 million to settle New York allegations of undisclosed commissions and went through Chapter 11 in 2023.
Did Lear Capital Go Bankrupt?
It filed for Chapter 11 reorganization; the plan was confirmed in June 2023, per the Vermont DFR.
What Are Lear Capital's Fees?
Yahoo Finance reports $50 to apply and $235–$285 a year.
What's a Good Lear Capital Alternative?
Augusta Precious Metals for $50,000+; Noble Gold for smaller balances.
Compare With Our #1 Pick
Augusta Precious Metals' free kit explains costs, risks, and what to ask any gold IRA company.
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