Lexi Capital Gold IRAs Review

Reputation

Lexi Capital earns an A+ rating from the Better Business Bureau. There are no customer reviews for the company on the BBB site, but there are no complaints either. The company is listed, but not rated on Trustpilot. So it's a little difficult to glean how customers feel about working with Lexi Capital. 

Flexibility

Lexi Capital's website is pretty light on information. The company appears to offer both IRA-eligible coins and bullion for purchase, but the variety of products offered isn't discussed in any detailed way. You can't purchase precious metals directly from the website. That's pretty unusual in this industry. Some customers may find that inconvenient, particularly when they wish to add additional precious metals to their portfolios periodically.

Customers can open either a new IRA or rollover funds from an existing IRA to open an account with Lexi Capital. They can elect to have Lexi Capital store their precious metals for them in their secure, IRS-approved facilities. The company partners with Horizon Bank, N.A. to provide storage services. Customers can also choose to have their precious metals delivered to another IRS-approved custodian for safekeeping. One thing we read on Lexi Capital's website did concern us. The company mentions that customers have a choice of purchasing precious metals for placement in an IRA under a "personal storage" arrangement. Customers should understand that doesn't mean you can place precious metals in your home vault and expect to automatically reap the tax and other benefits offered by IRA investment. You can't. The IRS frowns on that. It's not impossible, but there is a lengthy approval process and strict compliance guidelines individuals must meet to self-store precious metals as part of an IRA. 

Fees, Promotional Offers and Transparency

Lexi Capital charges no fee to open a new account with an initial purchase of $15,000. The company's website does not provide any information on the cost of storage or fees assessed for managing your account. The minimum purchase required to open a precious metals IRA is $1500 which makes Lexi Capital a good choice for people who want to start small as they seek to diversify their retirement portfolios. All purchases thereafter must also meet that minimum requirement.

Lexi Gold offers a Gold Assurance Plan to help customers hedge against declining precious metal prices. Coins purchased from the company are eligible for six months of price protection up to $500 per ounce. The price protection plan is also available on gold bullion for an additional fee.

Customer Service and Education Resources

Unlike some precious metal IRA companies, Lexi Capital doesn't publish a blog, report gold market news, offer current or historic gold pricing charts, or otherwise offer much by way of educational information on its website. However, the company does cite customer education as one of the benefits it offers. Presumably, the education comes in the form of staff expertise and personalized service, which you can access by calling the company directly. The company encourage you to request a Gold IRA kit, like many of its competitors, but it isn't downloadable and you must provide your phone number to request one via email.