Opinions about Lear Capital?

[EMP]

I've been doing a bit of research on different bullion companies and am looking for one that allows me to pay by check through the mail. The best one I've come up with yet is Lear Capital and wanted to know what others here think of it.

I also ran across a site that reviews bullion companies http://inflation.us/reviews/bulliondirect.html but wanted to know about personal experiences of members here.

Lear seems to have the best prices on what I want, which is silver rounds. There's even a couple of coupon codes available for free shipping, which is nice.

So, is there any reason not to go with Lear?

[~BS]

most will take checks through the mail for purchases, most actually prefer that, money order, or wire since credit cards incur fees...

But most will also put your shipment on a 14 day hold while the check clears.

Apmex is an example of a dealer that takes checks. Almost all of them do.
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bulliondirect is set up like an stock market exchange. You can buy from their catalog at a higher fixed price or you can buy from their market "directly" from other buyer and sellers.

[EMP]

most will take checks through the mail for purchases, most actually prefer that, money order, or wire since credit cards incur fees...

But most will also put your shipment on a 14 day hold while the check clears.

Apmex is an example of a dealer that takes checks. Almost all of them do.
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bulliondirect is set up like an stock market exchange. You can buy from their catalog at a higher fixed price or you can buy from their market "directly" from other buyer and sellers.

I tried ordering from Apmex. After placing my order and giving them all my information, I was told they needed a credit card number even though I was paying by check. They say it's so they can charge me $35 if I cancel. Since I don't have a credit card, I had to start thinking about who else I can do business with.

About Lear Capital--has anyone done business with them that they'd like to share their experience with me about? They have the lowest price for what I want and no credit card is needed to order with a check.

[Ragnarok]

You might try googling "Lear Capital Reviews" - Compliants", etc.

If you decide to do business with them please be sure to tell us what your results/experience was.

R.

[bing]

from time to time I've bought stuff, by check, from Paul Sims. However, he is only advertised in the coin magazines and not online. 5 dollar flat shipping no matter what the order, competitive prices, my order is usually in the mailbox two days after ordering, no wait for the check to clear.

Paul Sims
1-800-368-3039

PO Box 29249
Richmond Virginia 23242

the little old lady that answers the phone made it clear that they don't care much about bullion (they sell it but are primarily numismatics) so won't take orders on weekends, because the market is so volatile. However, their prices are very competitive. I suppose over the years I've bought 10 or twelve rolls of ASE and many, many rolls of junk. Junk used to be really cheap.

[curmudgeonista]

I'd do a little more research on Lear. It's one of the many hard-sell operations out there with advertizing primarily aimed at people new to investing in PM's.

Personally, I would choose a stocking dealer known for quick shipping and good customer service instead. Among those that come to mind are Provident, APMEX and Gainesville. I have no affiliation with any of them, but have bought from all three at various times with happy results from each.

Easy way around the credit card issue is to send payment by wire or ACH.

[mrdennis]

I've been doing a bit of research on different bullion companies and am looking for one that allows me to pay by check through the mail. The best one I've come up with yet is Lear Capital and wanted to know what others here think of it.

I also ran across a site that reviews bullion companies http://inflation.us/reviews/bulliondirect.html but wanted to know about personal experiences of members here.

Lear seems to have the best prices on what I want, which is silver rounds. There's even a couple of coupon codes available for free shipping, which is nice.

So, is there any reason not to go with Lear?

Yes you can purchase direct from Lear's website and their prices are very, very competitive on the listed products. In fact there are also coupon deals out there that can lower your price even more ($1500 minimum purchase). At the end of the day there are a few advantages from buying from a larger reputable dealer.

As of right now:
1 ounce Gold American Eagle, non credit card pricing shows:

Lear Capital: $1640.90
Merit Financial: $1641.98
GainsvilleCoin: $1652.04
Apmex.com: $1662.11

Benefits
1. Your coins will be authentic and if you have a dispute they will exchange them to get it right.
2. For bullion orders, larger companies have to compete very hard for their bullion business, as profits are made on massive volume, think 0.5-2% premium over cost on average. But because of this, paying American Express 2.9% to swipe a credit card makes no sense. They make 2% profit but American Express/Visa/MC eats it all up with their fees? Thats why many add the credit card processing fees for credit card buyers. Would you sell a product for a loss?
3. Finally the larger companies are aware of competition and price that in.

For the most popular gold and silver coins large companies are usually the way to go. 14 days is standard for a company that deals with real money and real fraudsters on a daily basis. Even well meaning Mrs. Smith can bounce a check every now and then, but once the coins are shipped, there is no going back. "A $1700 gold coin 'aint' no pre-owned $3 Gladiator DVD sold on eBay."

I've purchased from Lear before and recommend them for what its worth.

[j-son]

lear is great.
they sent me buffalo rounds.
i bought from them half dozen times. all good.
fedex shipping too.

[EMP]

Yes you can purchase direct from Lear's website and their prices are very, very competitive on the listed products. In fact there are also coupon deals out there that can lower your price even more ($1500 minimum purchase). At the end of the day there are a few advantages from buying from a larger reputable dealer.

As of right now:
1 ounce Gold American Eagle, non credit card pricing shows:

Lear Capital: $1640.90
Merit Financial: $1641.98
GainsvilleCoin: $1652.04
Apmex.com: $1662.11

Benefits
1. Your coins will be authentic and if you have a dispute they will exchange them to get it right.
2. For bullion orders, larger companies have to compete very hard for their bullion business, as profits are made on massive volume, think 0.5-2% premium over cost on average. But because of this, paying American Express 2.9% to swipe a credit card makes no sense. They make 2% profit but American Express/Visa/MC eats it all up with their fees? Thats why many add the credit card processing fees for credit card buyers. Would you sell a product for a loss?
3. Finally the larger companies are aware of competition and price that in.

For the most popular gold and silver coins large companies are usually the way to go. 14 days is standard for a company that deals with real money and real fraudsters on a daily basis. Even well meaning Mrs. Smith can bounce a check every now and then, but once the coins are shipped, there is no going back. "A $1700 gold coin 'aint' no pre-owned $3 Gladiator DVD sold on eBay."

I've purchased from Lear before and recommend them for what its worth.

I did see that coupon code for orders over $1500 (free shipping). That, along with their very low prices on silver rounds (which is what I'd be ordering) is what got me thinking about them.

As for company reputation and options, I guess all I'm concerned about is being able to order them and then receive what I ordered. Buy-back and so forth wouldn't be an issue since I'd be leary of selling something back through the mail like that. I'd deal locally if I were to sell.

Is Lear one of the companies you were referring to when you mentioned the advantages of a "larger and more reputable dealer"?

[mrdennis]

I did see that coupon code for orders over $1500 (free shipping). That, along with their very low prices on silver rounds (which is what I'd be ordering) is what got me thinking about them.

As for company reputation and options, I guess all I'm concerned about is being able to order them and then receive what I ordered. Buy-back and so forth wouldn't be an issue since I'd be leary of selling something back through the mail like that. I'd deal locally if I were to sell.

Is Lear one of the companies you were referring to when you mentioned the advantages of a "larger and more reputable dealer"?

Yes, Lear is a large national retailer, I believe they are #2 or #3 in total gross sales nationally. Additionally the 2nd largest Gold Individual Retirement Account dealer, according to their president.

You would be surprised about buy-backs of national dealers vs Cash4 or local dealers/pawnshops. Why? They turnover their products very fast and can afford to pay good rates for their buys. Additionally they usually insure your products after you pay for the minimum insurance or arrange a FedEx pickup on their dime if your order is large enough. My advice get 3 quotes before you sell anything and never sell any precious metal coin for anything less than 5-7% under spot or melt value on bullion sales.

[Aurumag]

My first Ag/Au purchase was from Lear back in 1998; all Canadian coins.

The individual I spoke with on the phone seemed quite surprised that I wanted to take physical delivery, and tried to talk me out of it.

I received that order in about one month.

I placed one last order with them in 1999, with a very similar reaction from the salesperson, because apparently most of their customers, at least back then, did not consider physical delivery.

I trust that has changed now.

[mrdennis]

My first Ag/Au purchase was from Lear back in 1998; all Canadian coins.

The individual I spoke with on the phone seemed quite surprised that I wanted to take physical delivery, and tried to talk me out of it.

I received that order in about one month.

I placed one last order with them in 1999, with a very similar reaction from the salesperson, because apparently most of their customers, at least back then, did not consider physical delivery.

I trust that has changed now.

I can not speak on issues from 13-14 years ago. In fact 14 years ago I could fill the tank on my Toyota Corolla for $10 and when my wife needed to contact me for an emergency she would send a message to my beeper with a 911 on the end.

But what I can say is that if you kept those same coins from 1998 you are sitting pretty and that is what counts!

[Fatboy]

You might try googling "Lear Capital Reviews" - Compliants", etc.



R.

http://www.la.bbb.org/business-revie...es-CA-13059407

[EMP]

I'd do a little more research on Lear. It's one of the many hard-sell operations out there with advertizing primarily aimed at people new to investing in PM's.

.

What exactly is meant by "hard-sell operation"?

[zhen]

What dealers actually ship within a day or two of good wire transfer? Please reply from recent experience, not six months or two years ago.

[Gcubed]

What dealers actually ship within a day or two of good wire transfer? Please reply from recent experience, not six months or two years ago.

Tulving has ALWAYS given me exceptional service. Check the shipping policies on his web site.

[zhen]

He always gave me rapid service too, with top quality goods quickly dispatched. But now I read complaints after late 2011 of delivery being iffy, taking weeks sometimes. This doesn't seem to be all transactions, just some that don't get sorted out - could be a personality clash.

I had a bad experience with SCPM years ago that required involving the States Atty to get my coins, so I'm humorless when paid for goods don't show up soon after payment is good. I was reading here of someone weeks into "my check is cleared" with another dealer but nothing is shipped. This is not a deal I would find acceptable. That's weeks for a business to go insolvent while you struggle with lack of communications.

Reviews need to report recent transactions because as the metals market becomes more stressed, actual inventory becomes iffy as some delers. This turns into risk of default for the buyer. Excellent experiences one years or three years ago isn't aren't as helpful anymore because things are changing quickly. Relating good experiences of others is useless unless it's a transaction you have specific news on. Repeating another forum here as xyz is good based on hearsay isn't helpful.

Thanks all for understanding.