Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:01/22/2025

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On November 7, 2024, I agreed to transfer $ ********* of my *** retirement money to Lear Capital, "LCI" for the purchase of gold bullion and the establishment of a gold ***. During the sales pitch, I was informed of their "upfront spread" in the transaction ranging from 2-35%. While this was provided in a written document, it was poorly explained. I was shocked to discover on December 24th, that of my initial investment of $ ********* nearly 1/2 was gone, with an actual account value of a little more than $ *********. I have since discovered that even given their procurement of my bullion at over-valued wholesale prices, "over-spot", simple mathematic forensic analysis cannot explain the nearly 50% loss in my initial investment. And, even given that they are taking a 34% upfront spread, that math doesn't add up. To date, they have not been willing to go on a recorded phone conversation with me to explain the nearly 50% loss. I have read similar other complaints about **** on the BBB site and all seem to be identical and have the same flow. Their corporate firefighter always responds with the same cookbook response stating that they are trying to reach out to the client and resolve the issue. This is a total scam. There is no way I would have agreed to such a transaction if I had known about ****** business practices and murky hidden fees, (which I'm still trying to discover).

  Business Response

  Date: 01/31/2025

  The account value that ********* is basing his calculations on seems to be coming from the *** custodian (Equity).  ************* would call Equity and ask them if those values are correct, Equity should disclose to him that they may not be correct and that he should call Lear Capital to get Lear Capitals buyback numbers, which would be what he would actually receive (excluding Equitys liquidation fees)if he sold his metals back to Lear Capital at that time.

  Also, Mr. ****** seems to believe that he was charged a higher fee than what Lear Capital quoted him.

  Mr. ****** was not charged a higher fee than what he agreed to when he placed his Lear Capital order on a recorded verbal confirmation.

  As a matter of fact, ********* was quoted a slightly higher fee on the recording than he was actually charged for his Lear Capital purchase.

  ************* was to call Lear Capital, we could walk him through the calculation process, and he could look at those numbers and see for himself that they are accurate.

• Initial Complaint

  Date:12/19/2024

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I purchased $100,000 in gold coins from Lear Capital in November 2024 via an ***. I believe they breached the conditions of the following lawsuit because they offered financial advice and withheld information that would have helped me make a more informed financial decision. *********************************************************************************************************************** This lawsuit states:As a part of Lears bankruptcy plan, the company has also agreed to improve its sales practices and disclosures, including agreeing not to misrepresent its fees, offer portfolio assessments of securities holdings, hold itself out as an investment adviser in any way, and provide investment advice or commit securities or commodities fraud.I worked with *** ******* where he provided investment advice on buying a particular gold coin that was $445 but the market value was really $270. He never discussed alternative gold options that they offer which are more in line with market value so I lost 40k as soon as the sell posted in the account. He also instructed me on how I should answer the questions when on the recording with the equity company. All of these actions clearly violated the lawsuit agreement. I contacted **** and they refuse to buy back the coins at the price they are currently selling them. I have also filed a complaint with the **************************** who, among with multiple other states, filed this original lawsuit against ****.

  Business Response

  Date: 12/24/2024

  It seems that Ms. ******* is claiming that Lear Capital recommending coins to her constitutes providing her financial advice. Merely suggesting certain coins is not considered financial advice.  Lear Capital has a right to do that as a company that sells coins, and coins are not considered a security.  This distinction was disclosed to Mr. ******** and she did not bring up any further concerns regarding that disclosure when this information was presented to her.

  However, Ms. ******* has other concerns, and Lear Capital is engaging in direct conversation with her in order to address those concerns.

  We appreciate Ms. ******* working with us to try to ideally get things to a better place.

  Customer Answer

  Date: 01/02/2025

   
  Complaint: 22708299
  
  I am rejecting this response because:

  I only have 10 calendar days to respond and due to the holidays, ****** from **** has been out of the office so we have not been able to agree on a solution.  I am also working with an attorney who is also out of the office until next week.  So this is an ongoing issue that may not be resolved in a timely manner.
  
  Sincerely,
  
  ****** *******

  Business Response

  Date: 02/26/2025

  Ms. ******* and Lear Capital have worked out a satisfactory resolution.

• Initial Complaint

  Date:12/12/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I purchased gold from Lear Capital with an investment of gold coins for 48k and was charged over 10k for the purchase with NO explanation of charges prior to transaction. I spoke to them re: this issue with NO resolve other tan the request to buy it back at a MUCH lower amount. They talk you into the purchase, with NO suggestion of charges, say they need to record the transaction using terms that you don't understand, as I told them, had I not completely trusted them I would have questioned the charges and then would've cancelled it immediately instead of paying over 10 k simply to buy gold?!?! That's like paying my bank an extra 10k just for carrying the note on my truck!!! I simply want at least 75% of my charges back from them as I know they have a company and need to have fees, that's not the issue. I just don't think it takes over 10k to send me precious metals, ESPECIALLY without stating what they're charging!!!

  Business Response

  Date: 12/24/2024

  Mr. ***** was told the spread fee on the recording used to place his order, and he approved of the fee being charged on that recording.  Also, in his complaint, Mr. ***** underreported the fee that was charged.  In addition to that, the contract that he signed and returned to Lear Capital had a spread-fee range on it, and the spread fee that Mr. ***** paid falls within the range that appears on his signed contract.

  We are in talks with Mr. ***** to directly address all of his concerns, and we hope to make progress on that front.

  Customer Answer

  Date: 12/25/2024

   
  Complaint: 22680295
  
   I am rejecting this response because:
  As I reported to the company,  it is VERY simple to explain what the chargers are with the use of ******** terms instead of these technical terms, which is EXACTLY why they do thus. I HIGHLY trusted the person that I was working with as we had spoken several times. I did not expect even a remotely close possibility of 30 (PLUS) % charges, or Would have IMMEDIATELY topped the transaction, as who in their right mind would EVER pay that amount to by a precious metal?!! Certainly NOT me, and I will NEVER ever again do business with this **** nor ANY other that would try to charge me such a rate 

  The ONLY "restitution" that I have been offered is a possible reimbursement of a small % of these specific funds, which will never be enough in my opinion. I do not mind a reasonable amount, as that is a business expense, but not this huge amount.
  Sincerely,
  
  **** *****

  Business Response

  Date: 01/31/2025

  Mr. ***** will not call Lear Capital back.

  We had a productive conversation with Mr. ***** on December 13, 2024, and it was agreed that we were going to conjunctively work together on a solution.

  Since then, we have left 5 messages on the phone numbers listed on Mr. ***** account, and he has not call us back.  Lear Capital would very much like to still work with Mr. ***** in order to potentially improve this situation, and we are absolutely open to hearing anything that he has to say.

  In response to Mr. ***** complaint, on the 9/10/24 order,Mr. ***** was told what he was buying, what he was paying for each like-kind item, any Lear Capital fees that he was being charged for his purchase, and Mr. ***** agreed to all of this on the recording that was used to place his order.  This recording is available for Mr. ***** to hear for himself.

  Again, we would like to reconnect with Mr. ***** in an attempt to help the situation.

  We genuinely hope that he calls us back so that we can hopefully do that.

  Customer Answer

  Date: 01/31/2025

   
  Complaint: 22680295
  
  I am rejecting this response because: 'To my knowledge I have not received contact from them after being told I would over a month go
  
  Sincerely,
  
  **** *****

   

  Business Response

  Date: 02/19/2025

  Unfortunately, Mr. ***** does not seem to be receiving our messages, because we have left him several on the phone number that we have reached him at previously.
  
  We would very much like to reconnect with Mr. ****** and we ask that he calls Lear Capital at ************** at his earliest convenience.

• Initial Complaint

  Date:12/11/2024

  Type:Product Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  BUYER BEWARE: Wish I could give them a minus 5!! In 2014, I made the biggest investment mistake ever with Lear Capital. I bought $10K worth of silver (2015 Polar Bear 1.5 ounce) for approximate $17.40 per ounce - so I thought it was $10K worth of silver. When my orange container arrived with the silver coins, it read 'Quantity 300' coins. However, there were only 229 coins in the orange box. Not 300. So I paid $10K, but really received $5,976.90 of silver at that the $17.40 per ounce price point. Yes, that's *****% of silver I received for the $10K spent. Suspicious yet? It gets better...A few months ago, I called **** thinking maybe I could sell them back this horrible 'investment' given that the silver market was in the low $30's per ounce now. I first spoke with a nice woman who looked up my account and admitted they did indeed send me 229 coins. I asked her why the box said 300 yet I was only sent 229. She wouldn't answer and deferred me to my account ********** the **** *** who claimed to be my account manager said, "I'm glad to see you are loyal to silver." I had so stop him midway through his nonstop upsell to let him know I wasn't loyal to silver, I was held hostage to it based on what I paid for v. what I received. Remember, even if they gave me the 300 coins, that would have been 450 ounces x $17.40 = $7,830. That's still $2,170 **** would have taken from me on a $10K sales of silver. But because they shortened me 71 coins, the value of my $10K purchase was really the $5,976.90 mentioned above. So, during my conversation with my so-called account manager, I asked him where the 71 coins were of the 300 I supposedly go. He admitted as well I received 229 coins, but was eerily silent on where the 71 other coins were. In my opinion, Lear Capital is a HUGE scam. I would urge all people interested in buying from **** to check other competitors first. If they've done this to me, who else has been had by these pirates?

  Business Response

  Date: 12/24/2024

  Lear Capital has a recording on which Mr. ******* agreed to purchase 225 coins.  That recording was used to secure pricing on his order.  The additional 4 coins, which brings the total coins sent to Mr. ******* to 229,were redeemed as a promotion.

  We have been trying to reach Mr. ******** and he did call us back.

  Lear Capital would like to directly address all of Mr.Johnsons concerns, therefore we look forward to speaking with him after the holidays.

  Customer Answer

  Date: 12/30/2024

   
  Complaint: 22674160
  
  I am rejecting this response because:

  I would like to take the opportunity to get to the heart of the issue with ****....  Though **** would love to make this complaint about 225, 229 or even 300 coins purchased, it continues to fail to address the heart of the issue.  The stench in the air is prolific.  When I began to dig deeper into the bigger question of WHY did it cost so much to get so little... something never addressed by ****, what I found literally blew me away.  It didn't take long to find the reasons - perhaps at least about ***** million reasons!  This is why I will tell the world to BEWARE of **** and will likely continue to do so!  In a shocking discovery, one of which **** will not want to discuss openly lies deep in the government/regulatory lawsuits & settlement **** acquiesced to over the last few years. At last count, **** settled a $2.75M, $5.5M multi-state class action, and a whopping $6M with *****************'s office!!  The NY case is of particular interest to me givien **** was supposed to disclose just how much in exorbitant commissions and fees **** was (are they still?) charging the common folk, per the Court order.  I made the ill-fated purchase in ***  ****, please disclosed in your response how much commission and fees were charged to me and let's see if there is a big problem with that...  The world is waiting.....
  
  Sincerely,
  
  **** *******

  Business Response

  Date: 01/31/2025

  Mr. ******* has expressed that he is now satisfied with his dealings with Lear Capital, and we really appreciate him working with us to find a solution.

  Customer Answer

  Date: 01/31/2025

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.  They were very professional in their response and it was a pleasure to work with Lear Capital's ****** ***** through the process.  Very pleased and I wish **** the very best.
  
  Sincerely,
  
  **** *******

• Initial Complaint

  Date:11/26/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I purchased Silver from Lear Capital on 1/20/22. I recently became aware that **** has been found guilty of over charging commissions on such transactions and they are settling with the consumers affected by this practice. I receive no notification of this action until recently and I am trying to ascertain if can still receive damages from ****.

  Business Response

  Date: 12/17/2024

  Ms. ***** specific situation was discussed with her on the phone, and the concerns about Lear Capital that she expressed in her complaint - some of which seem to be radically different in reality than the way she described them - were addressed.

  If Ms. ***** has any other questions or concerns, we encourage her to call Lear Capital, and we are happy to directly address any other aspects of her account that she would like to discuss.

• Initial Complaint

  Date:10/01/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  on 4/22/22 I invested my 401 k with Lear capital of ********* into precious metals and unaware that they would take 33% from me, I did not understand their charges or language that they said they did explain it to me, I would of never have done this if they would of been upfront , I have called them and basically they say just wait it out and my money will increase but how would I recoup the 33% , now I see they have filed bankruptcy and other people have had the same problem,I have worked very hard as RN and this is how people steal your money with fast talking sales people I am just at my wits end

  Business Response

  Date: 10/21/2024

   Lear Capital is working with Ms. ****** on a potential solution.

• Initial Complaint

  Date:09/03/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I moved $186k of *** funds to purchase their metals in May of 2023. I was told by their expert that their minted coins would be a much better investment because they dont fall in price as badly as bullion when markets are down and they go exceptionally higher when markets are up. I trusted their expert and went with the coins. In April 2024, I request a valuation of my account, since gold and silver were both up at that time. Even when metals being up, my account was at a 46% loss! My $186k had dwindled to $100k (Im excluding the $2k of silver coins they gave as a bonus). When I called in a panick, they couldnt explain why the rare minted coins went down in value, as metal prices were going up. Fast forward to today, gold is up 27% since I purchased and silver is up 24%. My account is still at a 35% loss. They tried to blame the spread which is 34%, but that would only make sense if the metal values remained at the same price as when I purchased. A 35% loss, while the actual assets are going up 27/24% respectively, puts the spread closer to 50-55%. This company is not being genuine. How do I know? The spot price for gold is $2,503/oz. The sell out price they gave me for .25oz queens beast Yale coins was $619/.25oz, which comes out to $2,476/oz. Less than ***** just want my original investment back. They scammed me of my retirement. I would have seen my account go to about $200k, had I stayed where I was before this purchase. I know Ive been scammed. You cant lose 35% while the markets are up 27% without being robbed of that money.

  Business Response

  Date: 09/04/2024

  On the recorded verbal confirmation used to place Ms. McDonough’s order, she was told a slightly higher spread fee (34%) than she was actually charged (33.71% including the promotional coins) - which means that she was charged a fee less than what she agreed to on that recording - and she consented to this fee as an isolated question on the recording.
  
  Ms. McDonough has heard that recording played back to her, and the fee that she was charged for her purchase is nowhere near the “50 - 55%” that she is claiming in her complaint.
  
  In addition to that, the recording encouraged a hold period of at least 3 to 5 years, which Ms. McDonough agreed to.  She, also, heard this suggested hold period and her consenting to such a suggestion when the recording was played back for her.
  
  Ms. McDonough made her purchase less than a year and a half ago.
  
  With patience, Ms. McDonough might experience results that she feels much better about, and she is encouraged to call Lear Capital to further address any other questions or concerns.

  Customer Answer

  Date: 09/05/2024

   
  Complaint: 22222232
  
  I am rejecting this response because:

  The recording holds no contractual value. A written contract supersedes any “audio confirmation”. An audio confirmation is exactly as it sounds- a confirmation of already contractually agreed upon terms. The terms of the spread for my specific transaction was NOT PUT INTO THE SIGNED CONTRACT; therefore I was “confirming” a term that I had never previously reviewed, which leaves room for the consumer to misunderstand what was said, which is what happened in my case. I thought I heard something very different from what was said. As I said on the phone with you. I clearly did not hear 34%. What I probably heard and internalized was 4%, because that would be a reasonable commission on a $186k purchase. Never, would I ever think a company would lack the ethics and take a 34% fee on $186k. It’s predatory. You can claim all day that I agreed to 34%, but clearly I did not. Clearly, I misheard the representative, WHICH IS THE PROBLEM WITH ORAL AGREEMENTS and would not hold up in court.
  
  you claim verbatim:
  “the fee that she was charged for her purchase is nowhere near the “50 - 55%” that she is claiming in her complaint.”
  
  
  Also incorrect and I can prove it through simple math. On the phone Jeremy Jason gave me the wholesale ask price for the Gold .25oz that I purchased, which was $544.71. The prices I bought each coin for was $837.98. Simple math will tell you, that I purchased each coin with a 35% spread! So they charged me EVEN MORE than the predatory amount they claim! What LEAR is trying to do, is dilute that charge by saying they gave promotional coins in addition to my purchase. Those coins were marketed as FREE coins for a qualifying purchase. You can’t charge me more on my purchase in order to cover your “free” coins, as that no longer makes them free. In addition there was nothing in the contract stating that the free coins weren’t free and that I was going to be charged an extra 1% on $186k to pay for the free coins. 
  
  Now, let’s look at where the additional 15-20% comes into play,  this part is significantly more sinister. When I purchased the coins, they were 9.2% more valuable than spot (wholesale ask was 544.71 and spot was $494.76). This 9.2% is the value-add over and above bullion spot (or the melt price) of the metal. This would assume a 0% wholesale bid spread, if we added back in the spread (avg 9%), the over and above value is closer to 18%. This would reflect the added value due to the “rarity” of the coin. 
  
  10 months later, on April 30th, the market for these particular metals rose 13.4% (from $493.76 up to $571.62). This rise in the spot, would be considered the metals’ intrinsic value, which would mean, anything with gold in it, would rise in the same value proportionally. My representative at the time of purchase told me that these coins would rise HIGHER in value, beyond the intrinsic value appreciation, due to their limited edition rarity. Think a collector car, like a vintage mustang vs a regular car. The vintage mustang holds a stronger value because of its collectibility. 
  
  When I requested a buyout, my supposed collectible coins LOST their collectors value entirely! They offered me $570.83, which was LESS THAN SPOT PRICE ($571.62 spot on 4/30/24). Somehow these rare collectors coins LOST their collectible 18% value and were worth LESS than their melt price, all the while, the market for this metal rose by 13.4%.  Again, imagine a vintage mustang is pristine condition being worth less than its scrap metal (melt down) value. It’s literally not possible, unless what you were sold was NOT a vintage mustang. What you were sold was a FAKE.

  So now let’s put it all together to see how much total these coins lost- 4/30/2024 (10 months)- purchased at $544.71 and quoted at $570.83 by LEAR capital as the buyout in the same day. This means these coins only went up 4.5% in total. HOW IS THAT POSSIBLE WHEN THE MARKET IS UP 13.4%?
  
  If these coins were what was marketed, they should have risen 13.4% with the intrinsic value (the worth of the scrap metal in our analogy) and at the very least held on their 9.2% collectors value over and above spot. When the market is hot and demand is HIGH, this would at the very least keep the value stable. That would be a total value of 22.6% that we should see reflected in the coin buyout price, if LEAR was being honest. The buyout would look closer to $667.81.
  
  Now let’s look at the buyout quote from LEAR on 8/30/24, which was $619.87. This is an increase of 12.12%. The market However had done up by 21.3%, so we are again, somehow not even keeping up with the rise of the melt down value, let alone the supposed collectors premium. This again is LESS THAN SPOT value, as the spot on 8/30 was $2,513.35/oz, which would be $628.34/.25oz. My collectors coins are 1.3% less than spot? So let’s total up the loss again: 22.3%+9.2%= 31.5%. 
  
  So the total spread on actual value versus what’s been sold and quoted to me is right around 50-55% LOSS in actual value. 
  
  LEAR has not been able to explain why these collectors coins have been unable to keep up with the intrinsic value rise. They also have not been able to explain why the collectors value of 18.2% magically disappeared as soon as I purchased them. They were also supposedly unable to provide me with the wholesale bid vs offer spread (which makes no sense because they of course have access to that information). 
  
  your next claim: 
  “In addition to that, the recording encouraged a hold period of at least 3 to 5 years, which Ms. McDonough agreed to.  She, also, heard this suggested hold period and her consenting to such a suggestion when the recording was played back for her.”
  
  
  You continue to use this same script with all the complaints above. As if somehow 3-5 years magically raises the value. The amount of time is irrelevant and you know this. If the market is up 30% in 12 months versus 5 years, the length of time is not changing the outcome of that investment. It’s the rate of appreciation, not length of time. Again, if the markets has gone up 22.3%, but somehow my account is down 35%, this isn’t making sense for the appreciation rate we’ve experienced. Whether this happened over 12 months vs 3-5 years is irrelevant. This is a throw away excuse that doesn’t reflect the reality of the hard numbers. 
  
  Your next claim: 
  “With patience, Ms. McDonough might experience results that she feels much better about, and she is encouraged to call Lear Capital to further address any other questions or concerns.”

  
  Patience is not going to change the fact that you took 35% of my investment funds. It’s not going to change the fact that you guys are also taking nearly 15-20% on the back end. Something is happening here and someone needs to force you to open your books and see what it is. You’re either selling people junk coins that aren’t worth the values you claim, yet charging them on the front end for thus fake value, or there are additional fees not being disclosed. 
  
  
  On 9/3/2024 Jeremy Jason left me a VM at 7:42pm EST. He ended the message with “I wouldn’t take any further actions if I were you”. Which is incredibly vague and feels threatening. Of course I intend to take every action necessary to get my investment back. If I purchased what I thought I purchased- collectors coins with an 18% value above spot at a 4% spread, my account would reflect a 15-17% appreciation in total value at this point. I would have $213k in the account, not $121k. 
  This company needs to no longer exist. Even after the multi-state class action lawsuit, they continue to operate in the gray. These kinds of unethical business schemes only last for so long. 

  
  
  Sincerely,
  
  Andrea Mcdonough

  Business Response

  Date: 10/07/2024

  Ms. McDonough and Lear Capital are in talks to potentially resolve this situation.

• Initial Complaint

  Date:04/05/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I rolled over $30,000 from my retirement account on 9/13/23 to purchase gold, but I was never told about how much or the percent that **** would take from me as a fee. I specifically asked multiple times what the fees would be in terms of a dollar amount but they always defer to an explanation of a spread across a period of time, and never answer the question specifically. At no point did I ever consent to lyric taking over $10,000 in fees and now the value of my investment has declined drastically. I want my money back, and I did not consent to such a high fee. Based on other customer complaints here on the ********************, it is clear that their capitals practices are misleading customers regarding their fee structure. We need to start a Class Action Lawsuit because of Lear Capitals misleading practices.

  Business Response

  Date: 04/11/2024

  ************** secured her Lear Capital order via a recorded Verbal Confirmation.  On that recording, she was told the ask-to-cost spread fee that she was paying.  As a response to that, she agreed to the fee that was stated on that recording.

  Also, on that same recording, ************** was told what she was buying and what she was paying for each similar coin, and she agreed to make the very purchase of the coins that she received.

  With patience, and provided the precious metals market moves up enough, ************** will hopefully find the results of her purchase to be ultimately satisfactory.

• Initial Complaint

  Date:03/27/2024

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I invested 2 iras with lear capital and now that i want to change my metal portfolio they wont answer my calls! They are the ones who say they will buy back what they sold me and also change it as well. Now they won't answer my calls and I cant deal with them if they don't answer. They are not in compliance with their agreement to me about buying back the metals they sold me or about exhanging the silver to gold. What can I do now that this company is not doing what they agreed to do? Please advise

  Business Response

  Date: 04/03/2024

  We maintain tight phone records at Lear Capital.  With rare exception, it appears that when ***************** has reached out to us, and no one was available to speak with her, she has received a return phone call from someone at Lear Capital shortly thereafter.

  If ****************** has called ** from another phone number that we do not have on file, and she did not leave a message for someone to call her back, we suggest that she leaves a message in the future anytime she phones Lear Capital.

  Also, we have reached out recently to ****************** and have not received a response.

  Lear Capital encourages ****************** to try to call us again, and we would be happy to speak with her regarding any questions or concerns that she has.

• Initial Complaint

  Date:03/04/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Lear Capital is a scam company that will promise you big profits within three years but will skim so much off the top during the initial purchase youll never be able to make it up. Do not do business with these crooks. Ive lost about half my initial investment over a 3 year period. Everything they told me was a big web of lies. They told me if inflation went up so would my investment. Well inflation has skyrocketed and my investment continues to dwindle. **** misrepresented themselves to me in every way possible.

  Business Response

  Date: 03/14/2024

  At the time of his purchase, ****************** was told what he was buying and what he was paying for each like-kind item being purchased from Lear Capital,and ****************** approved of that exact order on a recorded verbal confirmation.

  ****************** was told that the recommended hold period for his precious metals is at least 3 to 5 years," and he agreed to this suggested hold period on the recorded verbal confirmation used to place his order.  We have not reached the 3-year **** since ***************** made his purchase.

  If ****************** was to give his coins the recommended hold period of at least 3 to 5 years, he might be surprised by the results of his precious metals purchase.

  Customer Answer

  Date: 03/17/2024

   
  Complaint: 21378174
  
  I am rejecting this response because:  I made the investment on April 27, of 2021, so I have almost reached my 3-year anniversary of purchasing precious medals and I've lost over $30,000 of my investment.  While I agreed to those term on the closing day, I was urged to act fast because inflation was coming which would increase the value of my investment almost immediately.  I was also told by *************************** that investments hardly ever lose more than 10% of their values after the time of purchase.  To say I was misled is an understatement.  100% of the times I check the value of my investment, it declines in value.  **** uses a high pressure sales tactic on the front end to make the investment look attractive.   This is by far the worst investment I've ever made!  Shame on Lear Capital.  They skimmed so much off my initial investment, I'll never get it back. 

  
  
  Sincerely,
  
  ***************************

  Business Response

  Date: 04/10/2024

  Our typical time recommendation is a hold period of at least 3 to 5 years, which means that the minimum hold period is 3 years, and the maximum hold period could potentially exceed 5 years.

  We are not at even at the 3-year **** at this point when it comes to ****************** purchase.

  With patience, ****************** will hopefully see results that he is ultimately satisfied with.

  Customer Answer

  Date: 04/11/2024

   
  Complaint: 21378174
  
  I am rejecting this response because:  I am within two weeks of the 'magical' three year anniversary of purchasing my precious medals and my investment has lost approximately $30,000.  Do your homework if you are considering investing with ****.  I cannot find a single investor that had made a dime with **** *******.  
  
  Sincerely,
  
  ***************************

  Business Response

  Date: 04/11/2024

  Lear Capital set the expectations - expectations that ***************** agreed to on the recording used to place his order that the suggested hold period was at least 3 to 5 years for ****************** precious metals purchase.  The minimum hold period that was recommended was 3 years, however this does not indicate that only 3 years was enough time to see results.  Any sort of potential results could take up to 5 years or longer.

  Lear Capital asks ****************** to be willing to invest the hold period of at least 3 to 5 years that he agreed to at the time that he made his precious metals purchase.