Beware of buying gold/silver from Lear Capitol

Pirron68 wrote:ok

STILL NOT HAPPY WITH LEAR THEY DECIEVED ME IN THE DEAL AND TOOK ADVANTAGE OF NEW BUYERS,
28% FEE ....

APMEX or Gainesville Coins (Fl) and that is the total mail order list.Get ready for that 38% capital gains tax on selling. However, if you buy locally with cash......... Also remember 1933.... Next to more coal and hoarding bathroom tissue, the best investment out there.

CecilMemory wrote:I have dealt with Lear and yes they do wait 10 to 12 days after they receive the check to send the metals but my problem with them came after I referred 4 different people to buy from them. If you refer one person you get a 1/0 oz gold coin. 2 people = 1/4th oz gold. 3 = 1/2 oz gold. 4 = 1oz gold coin.

On the day the the 4th person was confirmed they called me to say they no longer offer this program. Funny how they waited to receive money from the 4 referrals and when I couldn't refer anymore or go to a higher level they say it ended so they don't have to make good on their promise.

Ouch....not the kind of people to handle the thousands in my IRA, then.

CecilMemory wrote:I have dealt with Lear and yes they do wait 10 to 12 days after they receive the check to send the metals but my problem with them came after I referred 4 different people to buy from them. If you refer one person you get a 1/0 oz gold coin. 2 people = 1/4th oz gold. 3 = 1/2 oz gold. 4 = 1oz gold coin.

On the day the the 4th person was confirmed they called me to say they no longer offer this program. Funny how they waited to receive money from the 4 referrals and when I couldn't refer anymore or go to a higher level they say it ended so they don't have to make good on their promise.

Ouch....not the kind of people to handle the thousands in my IRA, then.

enbeuu wrote:

samhill wrote:I tried to warn you smokey, the best deal isn`t always the cheapest but don`t give up hope you may get your coins yet. Did you ever check with the B.B.B. for the # of complaints? That what I mean by wanting to see & touch what I buy & its always nice to be able to reach out & touch the seller if you know what I mean. While they are waiting for enough orders they are making money on yours & everyone elses they are holding.

Agreed; I bought silver, today: SLW, using silverWheaton and it's credited to my account as of today. and will clear the account in 3 days...SEC period.

Right, and I believe Silver Wheaton even pays a dividend, too.
I smile when I see the likes of Carter come into the screen and pitch his company's products as if....

My ignorance is Lear Capital's gain. Last year (10/2012) I bought silver coins for the first time ever. I explained to Lear Capital whore Richard Hershey that I was new to buying silver. He took advantage of me, which was great for him, but sucks for me.

I was told by a local dealer in my city that they overcharged me, which I am finding out that is true. I was charged $16.17 per coin and I am seeing that most sellers don't charge that much. More like $12.00 per coin. My 10,000.00 investment gave their sales whore Richard Hershey a nice bump of over $2,000.00 in commission pay.

I will never again buy from Lear Capital, as I feel they were dishonest, as far as the price. Their Customer Relations Manager (another whore) actually had the nerve to tell me that I should have done my homework before buying from them. I bought from them because I thought they were honest and reputable and since I hear them advertise on Fox News.

Buyers beware of over priced Lear Capital and if you are new to buying silver, make sure to take their advice and do your homework since their own representatives will use your lack of knowledge to make the most profit they can off of you. I thought calling them would provide me with answers and expertise that I didn't have.

Tommy T, Aurora CO

Yup, I agree. They are a complete an utter rip off! I am still pissed with them whores!

Pirron68 wrote:

Pirron68 wrote:ok

STILL NOT HAPPY WITH LEAR THEY DECIEVED ME IN THE DEAL AND TOOK ADVANTAGE OF NEW BUYERS,
28% FEE ....

TommyTUSA wrote:... I explained to Lear Capital whore Richard Hershey that I was new to buying silver ... I thought they were honest and reputable and since I hear them advertise on Fox News ...

Thought they were honest because they advertise on Fox? That's like digging a well in the middle of the manure pile, and expecting to get clean water.
Sorry, I don't mean to make fun of your misfortune, but remember the whore and the pimp are known to associate with each other.

I bought 10 silver maple leafs from West Edmonton Coin in Edmonton, Ab. last fall At the time the spot price was around $34.50 I paid $39.00CAD for them. I'm not sure the percentage was because it wasn't 35%

The best part, NO I.D. REQUIRED!!!!!!! Give them the cash, they give you the silver, no questions asked!!! And if Obama tries to confiscate it like Roosevelt did, it is foreign money!!!!

I think Roosevelt still allowed a certain amount of gold to be legally owned & it was more a matter of hoarding gold that was the target & it wasn't just confiscated the people were paid for it at the value at that time. It's much like the present times with some hoarding money off shore or in other venues & holding the economy back, for whatever the reason may be but the money now will never increase much in value if any at all.

samhill wrote:I think Roosevelt still allowed a certain amount of gold to be legally owned & it was more a matter of hoarding gold that was the target & it wasn't just confiscated the people were paid for it at the value at that time. It's much like the present times with some hoarding money off shore or in other venues & holding the economy back, for whatever the reason may be but the money now will never increase much in value if any at all.

All gold currency was confiscated, but gold jewelry and the like was not. Roosevelt duly gave everyone $20 in paper for their ounces of gold (the going rate). The short term tragedy though was that as soon as he had all of the gold currency he declared its official value to be $35 per ounce, effectively devaluing the paper dollar by 43% overnight, not to mention rubbing it in the noses of the American people. It's OK though, as they were functionally illiterate of financial matters and didn't seem to notice or care, re-electing him over and over, because the gold heist was advertised as a measure against greedy money hoarding (meaning against the rich), which in turn was blamed as the root cause of the depression. The longer term tragedy is that while the $20 paper notes from 1934 are still worth $20 today (though it would take about $346 today to purchase what $20 purchased back then), gold is now in the vicinity of $1,600 per ounce.

That the depression went on for another decade is a clear indicator that greedy gold hoarding had nothing to do with the depression.

See what it takes now to equal $20 from 1934 at this website: http://www.usinflationcalculator.com/ (hint, the answer is $346)
Same here, and this is a government run website: http://data.bls.gov/cgi-bin/cpicalc.pl? ... year2=2013

The real reason for the great depression is that the Federal Reserve intentionally contracted the money supply big time. Ben Bernanke himself openly admitted that Milton Freedman had gotten this assessment of the cause of the depression 100% correct when he attended one of Miltons final birthday parties and said so in his tribute speech. Since post 1913 only FRN's were legal tender, and since they were being massively removed from circulation post the roaring 20's, businesses were forced to close, people starved, etc..., all thanks to the Federal Reserve and the lack of money in cirulation to pay for anything. I believe Ben's quote to Milton in regard to the start of the great depression was "You're right, we did it!" (from memory, but you can look it up).

That is precisely the reason why Ben is pumping money from nothing like there is no tomorrow. He is convinced that doing the exact opposite of what was done to cause the first great depression will facilitate a proper cure to the current depression.

But what if the problem is not the amount of money, but the nature and perceived real value of the FRN money itself? Or alternately, what if the cure must be tailored to the specific cause, and the cause of the depression this time around has absolutely nothing to do with the Fed contracting the money supply????

As an aside, what if it was the massive fabrication of money leading up to our involvement in WWII that finally pulled us out of the great depression, and not the actual war itself.

Here is Ben's exact quote from his speech given at Milton Friedman's 90th birthday party per Wikepedia:

"Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna [Schwartz, Friedman's coauthor]: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again."

The true implications of this are staggering. How many Americans needlesly starved to death and suffered and toiled and struggled through better than 12 years of great depression, because the Federal Reserve caused it?

edited to correct a minor typo

lsayre wrote:Here is Ben's exact quote ...

The true implications of this are staggering. How many Americans needlessly starved to death and suffered and toiled and struggled through better than 12 years of great depression, because the Federal Reserve caused it?

So, it sounds like you are with Ben on this one -- in spite of the idiots in Congress effectively trying to reproduce the causes of the Great Depression, Ben is doing the right thing by boosting the money supply. It's not the BEST thing the government could be doing, but it's the only tool left as long as the GOP (motto: I've got mine, screw you) controls the House.

Actually I believe that money backed by nothing and fractional reserve banking gone wild (with somewhere in the vicinity of 30:1 leveraging) and too big to fail are the root problems. Time will tell.

but it's the only tool left as long as the GOP (motto: I've got mine, screw you) controls the House.

... and where Alice In Wonderland controls the Senate and the WH. We can't spend an additional $2.2T over the next ten years Alice...dream on. We are broke NOW.