Customer Reviews & Ratings
Complaint Posted 6/26/2023
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Be very careful...
This review is for Lear Capital but I have had another identical experience with GoldLine. Basically this is a generalized warning against all precious metal companies. I have noticed that most of the reviews on here that are positive are regarding the company at the time the purchase was made. I received the same experience. However, wait until you try to sell your metals back. In 2008 and 2013 I bought gold coins from Lear. In 2008 when I purchased the price of gold was around $875/oz. In 2013 it was around $1350/oz. Now I understand that the price of these coins doesn't move exactly proportional to the spot price of gold. However, I attempted to sell them back about a month ago since the price of gold was nearing $2000/oz. To my bewilderment Lear offered me only slightly more for my coins that what I had purchased them for. I did a little digging and realized that the way they get you is this. When they sell you the coins they will attach some arbitrary 'collectible' value to the coins and then jack up the price to 2 or 3x the actual value of the coins based on the amount of gold or silver contained within the coin. Then when they buy them back they will only pay you for the value of the gold and silver that the coin contains and tell you that the coin has lost it's collectible value. That is what they told me. But when they sell you the coins they tell you that they are better than just buying bullion because the coins not only have the value from the gold or silver but that they also have collectible value. They don't. If you want to diversify into gold and silver you are better off purchasing bullion or investing in a fund that proportionately tracks the price of gold and silver on the market. Had I put the money I put into that gold and silver into the stock market over the same period I would have more than tripled my money.
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Hours   7:30am to 6:00pm Pacific time Phone   (800) 576-9355 Address   1990 South Bundy Drive Suite 600
Los Angeles, CA 90025
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Contact   Kevin Demeritt Other  
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