Lexi Capital Review
Founded in 2010 by UCLA graduates, Lexi Capital was founded on the concept that purchasing gold, silver, and other precious metals for an IRA or 401k should be a simpler, more secure process. This organization sought to become one of the best gold IRA companies around and in the 4 years of their existence, they have made an impact in this industry.
<span “font-size:12.0pt;font-family:”times=”” roman”;mso-fareast-font-family:=”” “arial=”” ms”;mso-bidi-font-family:”arial=”” ms”;mso-font-kerning:=”” .5pt;mso-ansi-language:en-us;mso-fareast-language:hi;mso-bidi-language:hi”=””>Claiming that they make money by saving you money and proclaiming themselves as the #1 specialist for converting rollover assets into gold and silver, does Lexi Capital have the ability to back up these claims for you?
What Is the Cost of Starting a Gold IRA?
At Lexi Capital, there is a limited supply of rare and bullion coins that can be immediately added to your portfolio for a 5% upcharge on the current market price of gold or silver. The same is likely true for a commission that is placed for a market order, although the pressure is to purchase from held inventory because of the increased speed of that transaction. For silver coins that are at least 1 ounce, the upcharge may be as low as $0.50 and that includes the shipping charges.
Lexi Capital also offers a six month return policy on the qualified gold coins it sells in case the product isn’t to your liking and each purchase is covered by a minimum $500 guarantee, limiting investment risk. There’s a 3% cash discount. New IRA accounts may qualify for a bonus award of up to $1,000.
What Are the Precious Metals That Are Offered?
Lexi Capital works primarily with gold and silver in metals trading. The organization claims that their portfolios have gained 18% annually each year, but actual gold IRA accounts of other investors are protected by privacy laws. There really is no way to verify it.
Their gold products involve coins from the United States, Australia, Canada, and South Africa. Lexi Capital also has gold bars available from Credit Suisse or Sunshine Minting Inc [SMI]. Never heard of SMI? They are based in Nevada, Idaho, and Shanghai and offer branded bullion that can be used for IRA investments. They product custom minting items that are not national currencies.
Lexi Capital has a similar selection of silver coins for sale as well. Palladium and platinum coins are also available on a limited basis with 1 oz Maple Leafs that are printed in Canada. Some products may require a phone call to make a direct order. The phone line is not always picked up by someone, so Lexi Capital allows for a message to be left. They say that messages are returned “usually within 24-48 hours.”
How Is the Buying and Selling Process Handled?
You work directly with a representative of the Lexi Capital Group to place your orders for held inventory or for a market based order. Inventory shipments that are going to your gold IRA will then be immediately sent to your independent custodian, while direct purchases will be shipped to your home. There is a minimum order amount of $1,500, but you do have a 72 hour window to return a purchase for full price once received and not satisfied. Orders under $15,000 have a $14.95 shipping fee.
You have the option of placing an online order if you wish as well. Prices are based on recent spot prices, so they may vary somewhat from what the current market spot price happens to be. New IRA accounts can setup a self-directed IRA and Lexi Capital will help to administrate and even serve as the custodian for any precious metals purchased or other traditional assets. All IRAs are available as well, including the tax-advantaged Roth IRA which grows money with post-tax dollars.
The online shopping experience is very simple. Just add the preferred coins to the cart, apply a coupon code if you have one, and then pay for the purchase. The markup is automatically applied. For a platinum Canadian Maple Leaf, with a retail value of $1,084.67 at the time of writing, had a final total of $1,120.53. Paying with a check, wire transfer, or automatic checking withdrawal gave us a 3.2% discount to eliminate the markup.
All of the paperwork to begin an IRA rollover is available online. It may take up to 60 days for the new gold IRA to become available for new investments.
What Timeframes Can Be Expected?
Lexi Capital ships orders by insured USPS or by FedEx, which means it takes up to 10 business days from the time your order is processed to receive it. Shipments that take over 30 days to receive can then also be tracked. Although these packages produce tracking numbers, Lexi Capital does not give them to customers because of their insurance restrictions. All orders must reach a minimum of $1,500 before they are processed. Orders may be canceled before they ship, but are subjected to a $45 fee in addition to any market losses that are suffered from order placement to order cancellation.
There is a 3 day return policy in place for all products that Lexi Capital sells. All orders below $15,000 in value are subjected to a $14.95 shipping and handling fee.
Is Lexi Capital Group the Right Organization To Use?
Would you like to have your $15,000 order of gold or other precious metals sent through the mail by standard post? Most organizations will at least give you the courtesy of requiring a signature or sending your order of gold or silver through a certification process. Imagine having five figures worth of gold just sitting in your mailbox one day, waiting for you. If that thought makes you uncomfortable, then FedEx is a possibility, but switching to that option requires a conversation with one of their qualified customer service representatives. If this is how Lexi Capital Group sends packages for private purchases, then how our shipments to a custodian are handled?
Because of the potential for uncertainty, if you’re looking for qualified gold IRA companies with a reliable reputation that won’t leave your shipment to fate, we recommend Regal Assets. Professional, dependable, and competitively priced for commissions, you’ll discover that this agency takes service to a whole new level in this industry.