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Lear Financial Informative - Do Your Homework Before You Invest With Lear Financial

Review by deepwoods on 2007-02-05
I saw a TV commercial about investing in gold and gold coins with Lear Financial. I got excited as they made it sound like a good investment for me. I was convinced by their portfolio manager that coins would be the better for me than gold bullion. When I recieved the coins I took them to 5 coin shops in my area. It appeared I paid inflated prices as well as a $325.00 "service fee" per coin. The information was given in a round about way in the contract I signed so I do not think they did anything illegal I just want others to do their homework and not to make the same mistake I made. Other coin dealers offer a buy back guarantee for a period of apx. 15 days where Lear Financial offers no chance to return your coins if you are not satisfied. I believe the only retirement that will benefit from my investment was the owner and salesman from Lear Financial. I paid $975.00 per coin for 1904 Liberty $20.00 gold coins. I can buy the same coin with the same rating for $800.00 and not have to pay a service fee of another $325.00 per coin! I also believe they sold me the coins as the service fee for 1 ounce of gold bullion is $35.00 where the service fee for coins is $325.00 per coin. Know what they are going to sell you and do your homework. If you do not you too will be unhappy!
Comments:3 Replies - Latest reply on 2007-02-05
Posted by Justusryan on 2007-02-05:
Any real investment analyst will tell you to never be dumb enough to invest in gold, or coins.
Posted by rnick821 on 2007-02-05:
$325.00 service fee per coin? So you paid $975.00 + $325.00 for a total of $1300.00 per coin?

Wow!

Sorry for your loss, but it will take a long time for the coins to appreciate enough for you to get your money out of that investment. Good luck...but next time look into something safer. Investing is scary stuff.

Posted by Anonymous on 2007-02-05:
Thanks for the warning. Good review!

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