As far as I know, for children, at least, the upper end for lead in the blood is 10 mcg/dL.
Lead can depress thyroid function at various levels. The level of effect on thyroid hormone signaling depends on the level and duration of exposure to lead. The higher the blood level and the longer the exposure, the more significant a decrease in thyroid signaling is found.
Lead is neurotoxic. It can impair brain TSH production.
Lead can also impair thyroid hormone metabolism – leading to lower thyroid hormone levels and higher TSH.
Sources of lead are many, including: Ash, auto exhaust, cigarette smoke, coal combustion, colored inks, pesticides, rainwater, food cans with lead solder sealing, toothpaste, wine, manufacturing batteries, cosmetics, hair dyes, lead pipes, liver, glazed ceramics, pencils, lead-based paint, industrial emissions, etc.
Excessive thyroid hormone signaling – at least in some case studies of Graves Disease – lead to excessive lead accumulation in bone, and lead poisoning. Lowering thyroid signaling in the involved patients resolved the lead toxicity without need for chelation therapy. http://www.eje-online.org/cgi/content/abstract/138/2/185