Consumer reviews and reports on scam companies, bad products and services
Lear Capital Inc.
Bait & switch. Charge different prices and 1 month for delivery
28th of Sep, 2012 by nld1960
Lear Capital told me they are the best for prices and delivery time for IRA rollover.

I have been buying and selling gold and silver for about 3 years, but wanted to roll my IRA over into a Self Directed Precious Metals IRA.
David of Lear Capital assured me that his company is the most honest, best priced, fastest delivery, IRA rollover service.
As soon as you hear David speak, you just know this man is honest, truthful and knows metals, banking, rollovers and more.
While researching different companies, David was the only one who responded and just kept calling my house. He is so tenacious and I got to know him personally. When I then chose Lear, David rolled over my IRA within hours. He talked me into making out the forms over the phone and after signing, a special Fedex man was knocking on my door. So very smooth, I was impressed.
My money was transferred into the Directed IRA Company and now was ready to buy. David was aware I have a mental disability and record everything so I can go over it later.
I knew what I wanted, mostly straight gold and some silver. I am 66 and retired, all I wanted is mostly gold and a sealed monster box with 500 ounces of silver. David suggested the newer 5oz series of the US mint. That was fine. I checked the price of these and they were just over a dollar over spot. I did not care which of the new series it was, but I wanted a sealed box from the US mint.
At this time, for some reason all gold dealers were giving special rates for Canadian Maple Leafs and Lear had the best price listed, somewhere around $40 over spot per oz.

When it came time to buy and spend the entire amount of my IRA, suddenly David became as a used car salesman, wheeling and dealing over prices. At the time I had a hard time taking all this in because of my disability but I listened to the entire thing over and over, later on.
Now, instead of giving me their LISTED price, he went way up over that price for 1oz gold Maple Leafs. I ended up paying almost 3X the listed spot price of $117 over spot for simple Maple Leafs. Not only that, but I bought quantity and all dealers will give a better price for quantity.
Then he talked me into getting fractional gold. Right up front I told him I did not want to buy fractional coins because the over spot price is too high. But in the end, I bought 11 fractional coins at somewhere around $400 over spot per oz.
Later on I found that I did not even get the sealed box of silver and paid $7 over spot per oz. An approximate difference of $3000 at most listed prices because it was an outdated type.

Ok, so now I check my account a couple of weeks later and find out the metal which were all in stock were not there. An Email to David about this, because it should have been there within days. Lear Capital prides itself as the fastest delivery company. His reply was that he had nothing to do with mail. Really? He would never have said that before making this deal, comparable to buying 3 SUVs or a small house in Georgia.
The lady at the Self Directed IRA place was kind enough to help me. She told me to check daily. I finally received it, I hope, in One Month.

David is probably the best there is, but he has to abide by Lear Capital protocol. He does that. I hope he will find another company to work for. So, if this is the way you like to purchase gold and silver, fine, but you do not need a gold dealer to roll over and set up a self directed IRA account. Had I done so, I would have saved close to $5000. I think David made out on my sale, but I will admit, he put in the time.
Comments
4196 days ago by Nld1960
For some reason one report showed up as four separate reports. I would like to report that since filing this report, Mr. Jeremy J. of Lear Capital called me and advised me of some issues of which I was not aware and therefore would like to say that this issue has been resolved. I do appreciate the fact that they responded quickly to make sure that the client is satisfied.

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