Blanchard Gold Reviews: Pros, Cons, Is it Legit?

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Last Updated: June 11, 2024

As you become interested in diversifying your investment portfolio with gold, there are many things to consider, including finding the right precious metals dealer.

You have likely at least heard of Blanchard Gold if you have begun doing any research at all. If you haven't, may we suggest you get started before plunging headfirst into investing in gold?

Blanchard Gold is seen in many gold industry circuits, but are they as world-renowned as all their carefully timed advertisements suggest? With the precious metals market booming, now is an excellent time to check out Blanchard Gold and see what they offer.

Our Blanchard Gold reviews are written based on our careful research. In this Blanchard Gold review, you can count on receiving honest information.

We will offer you the facts and then give you an opinion on whether we think this company is worth your time or if you should find a more reputable company to handle your gold assets.

We have written an extensive Blanchard Gold review to help our readers understand what this company is all about. You will not find a more detailed Blanchard Gold review on the Net.

What Is Blanchard Gold?

Blanchard Gold, as it is most commonly known, is officially called Blanchard and Company. They are a precious metals dealer that has been in business since 1975.

After so many years in the industry, we must say there is no doubt they are a legitimate business, but are they the best for your needs?

We will dive deep into this company and discover what they are about. Do they provide accurate and reliable information, or should the Blanchard Gold Company be one of those gold firms you should avoid?

What Do Customer Reviews Say?

People are quick to tell others when they are unhappy about a company, primarily when investing in gold. After all, your financial future is serious, and any company that jeopardizes it needs to be stopped.

When buying precious metals, you need to choose a gold company with as many positive reviews as possible.

As usual, our first stop was the Better Business Bureau. We wanted to know what this authoritative site says about the company.

The company has been accredited since 1982 and has been in business for 48 years at the time of this writing. There are some positive customer reviews here from people who buy gold. Some people seem happy with the fair market price and investment-grade gold they purchased.

The website currently shows a 4.74 out of 5 rating based on 35 customer reviews. There have been no complaints filed on the BBB.

We searched high and low on Business Consumer Alliance and found no profiles matching the company. One would think such a long-standing investment company would have a profile on the BCA website.

We also searched for them on Trustpilot but could not find a profile for Blanchard. We are not sure what this means, but we are concerned. Why would they have no profile on one of the top consumer watchdog sites?

The company also does not have a profile on Trustlink. Next, we checked the company on the RipOff Report site.

We found a lot of complaints lodged against Blanchard. Some of these date back as far as 2012. The RipOff Report has been in operation since 1998.

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Are There Any Major Customer Complaints?

It took a little digging, but we were able to uncover a lot of complaints lodged against the company. After carefully researching, we discovered there were many complaints on the BBB, but these seem to be wiped out.

Because we cannot confirm this information, we will mention it and let our readers research its validity.

The following are some of the topics of discussion in these negative reviews:

Unfortunately, the positive reviews do not outweigh the bad ones. Many people are unhappy with the investment process they experienced with Blanchard.

These customer complaints concern us, and they should worry you, too. If these complaints are valid, and we have no reason to doubt them, then Blanchard is over-valuing its rare coins and making investors think they are worth much more than they are.

Should these negative reviews halt you from doing business with this family-owned company?

As we researched the company, we found one common issue. It appears the organization works primarily with seniors, perhaps because of the company's age.

Seniors are more likely to fall for scams as they grow older, which is why so many precious metals dealer services will prey on this age group.

Could Blanchard be one of these companies? As we delved deeper into the company, we discovered past lawsuits filed.

One was filed on April 4, 2004. This lawsuit was filed against the company by a competing company called Barrick Gold Group. The lawsuit was settled outside of court.

Blanchard Gold Services

Blanchard specializes in selling rare coins to their clients. They offer gold, silver, platinum, and palladium investment products. The company also helps customers roll over their existing retirement accounts to a gold IRA.

Blanchard helps its customers choose a custodian and depository for storing their precious metals. A self-directed IRA is the best way to get started.

This gold IRA company promotes its services and will help you every step of the way. You can consider them gold IRA distributors.

We are concerned about their IRA services because of the various complaints against them. Seeking a precious metals investment is significant and should not be taken lightly.

With your retirement savings, you deserve the best services when investing in precious metals. We are uncertain if Blanchard and Company is the most suitable business to handle your retirement savings.

The company website includes a helpful Market Price Tracker. This tracker gives visitors the latest gold, silver, platinum, and palladium market prices. They also show a chart with the latest gold bullion retail prices.

What Products Does This Precious Metals Dealer Sell?

Blanchard offers a range of precious metals for collectors and investors alike. Although the company shows a constantly updated chart with the current market price of gold, they do not show the cost of their rare coins and ask you to call in and speak to one of their rare coin specialists.

This phone call was mentioned in many customer complaints because it includes high-pressure sales tactics. The following are some of the most common groups of rare coins for sale on the Blanchard website:

Blanchard and Company seems to have quite a large selection of rare collectible coins, many from the 1700s and 1800s.

At the time of this writing, they also had at least one ancient coin for sale and various gold coins for collectors.

CAC Coins

Blanchard Gold also offers CAC coins, certified by the Certified Acceptance Corporation in Far Hills, New Jersey. The firm evaluates specific numismatic coins of great value, ensuring their worth and condition. The CAC coins do have a price listed.

Platinum

Blanchard has a limited selection of platinum products. There are only three, though we are sure their precious metals inventory changes often.

We will update this Blanchard Gold review if we learn about more platinum inventory on the website.

These coins were all priced on the website. You can order online or by phone if you require specialist assistance. The company accepts Visa, Mastercard, and American Express. They do not accept Discover cards.

Depending on the services you seek, you may need to put in a card for automatic credit card payments. You will put in a single card for just this one transaction for most outright purchases.

If you want to purchase platinum, you may be hard-pressed to find a wide selection here. Based on your investment strategies, you may need to look elsewhere or get help from your account custodian.

You should also be careful about any hidden fees. Read the terms and conditions carefully.

Silver

Their silver selection is much more vast than their platinum. You can browse many options, including 10 oz, 100 oz, and 1 Kilo bars. The following are some of the silver coins offered on the website:

Gold

Generally speaking, gold is not a risky investment. The company also offers many gold products, including bars and coins. The following are some of the gold coins we observed for sale on the website:

We would advise checking back often if you want to purchase precious metals from Blanchard. We were not overly impressed with their selection, though they do have an expansive offering of rare coins.

Remember that rare coins are not allowed for gold IRA investments.

What Are the Company's Policies?

Many people are curious about Blanchard Gold's company policies. They want to know how this company operates before getting on board. Before you allow them to handle your retirement account, there are several things to note.

Blanchard Gold offers a ten-day satisfaction guarantee. You may return the coins you purchase within ten days of receiving them, but you must contact the company and inform them of your decision.

The coins must return to the company safely and in the same sound condition as they were sent. You may be responsible for return shipping and insurance, depending on the reason for the return.

Most people will not receive their gold shipments for at least two weeks. International shipments can take much longer.
Blanchard ships via many shipping providers, including USPS, FedEx, and UPS. Depending on your state, you may owe a shipping tax. You will also receive a tracking number as soon as your precious metals order ships.


It is essential to note that you will need to be home for delivery because you must sign for your gold bullion package. If you are not home, the shipping provider will leave a note asking you to call to reschedule delivery.


You will only have a few days to schedule redelivery, or your pure precious metals will be returned to the company. This is the policy of the shipping provider and not Blanchard.


Blanchard Gold discreetly wraps all their rare coins and precious metals so you will not have to worry about others knowing about your order. Because of the total insurance coverage of your package, you will receive a refund if your order gets lost or stolen.

You should also know the company requires a $23 fee to cover insurance and shipping if your order total is under $300. Shipping and insurance are always free for a precious metals investment of over $300.

What Are the Advantages of Investing in Precious Metals?

Many people are worried about the economy. Inflation is growing, and our 401k and other retirement accounts are shrinking. Investing in precious metals is a sound way to combat market volatility.

Throughout history, precious metals, especially gold, have retained their value, even during economic uncertainty.

Gold and other precious metals tend to increase in value during economic declines. Consider the following advantages of a precious metals investment:

  1. People often flock to the security of gold investments when the dollar falls. Historically, we saw this happen between 1998 to 2008. During this time, the price of gold practically tripled. Large budgets and trade deficits often cause the dollar to devalue.

  2. Gold acts as a hedge of protection against inflation. The price of gold rises when the cost of living increases. High inflation years cause gold prices to soar while the stock market plunges. Investment experts recommend investing up to 20% of your retirement account into precious metals to hedge against fluctuations in the market caused by inflation.

  3. Gold also protects against deflation. Deflation occurs when the inflation rate falls below 0%. During this period, prices decrease, and business activity decreases. After the financial crisis of 2008, deflation became a genuine problem. Gold prices typically soar during periods of deflation.

  4. When world tensions rise, people pursue gold investments and the safety they provide. Investors often refer to gold as a crisis commodity because people flock to it during times of uncertainty. Gold provides excellent protection against geopolitical uncertainty.

  5. Gold has always been in demand, but it is even more sought after now. India, surprisingly, is the second largest gold-consuming country, with China being number one. With demands higher than ever, now is an excellent time to consider investing in precious metals like gold coins. Consider the current market price before buying from a gold dealer to ensure you are treated fairly.

  6. Gold also helps you diversify your investment portfolio. To diversify, you need to invest in things that are not close to one another so you do not lose it all in one economic downturn. Seeking a reputable company to help you with investment advisory services is critical. Does Blanchard Gold have the technical expertise to help its customers buy precious metals?

  7. Gold can serve as liquid cash in times of financial upset. You can sell gold in any country and get its value in money.

What Determines the Spot Price of Gold?

Although gold suffers short-term volatility from time to time, in the long term, it remains stable. A few factors go into determining the price of gold, including the following:

Differences Between Spot Price, Market Value, and Retail Price

Many new investors become confused about the differences in spot price, retail price, and market value. We hope the information below will help you distinguish between the three so you will understand what drives the prices of metals in the precious metals industry.

These three will impact what you pay for different gold coins:

Spot Price: Spot price is the current market value of precious metals and collectible coins. The spot price is the amount people can buy commodities on the market.

Actual Market Value: The actual market value is the price at which precious metals trade.

Retail Value: Retail is the price retailers set for precious metals and is often based on competitiveness.

FAQ About Blanchard Gold

Although we try to be as thorough as possible in our reviews, we realize our readers still have many questions. The following are some of the top questions submitted by readers like you.

Blanchard Gold has its headquarters in New Orleans, Louisiana. The company opened one year after President Ford legalized the private ownership of gold for American citizens in 1975.

The company reports following through with over $1 billion in client sales and helping them store their IRA gold in a secure facility.

Jim Blanchard is the founder of Blanchard Gold. He and his partner, Donald Doyle, helped usher in investment options for a fledgling industry.

The company's founder began working towards a nationwide push to allow for legal gold ownership. He was the founding member of the National Committee to Legalize Gold.

A precious metals investment is a wise option for those who want to diversify their investment portfolio. Diversification means not putting all your investment eggs in one basket.

Precious metals tend to protect against inflation and deflation and rise in value during periods of economic uncertainty.

The forecast for the precious metals market has consistently risen over the years. Precious metals prices are expected to rise 8% or more in the coming years.

With this upward trajectory, now is an ideal time to find the right gold companies to help you invest in bullion form and purchase metals and other tangible assets.

Blanchard Gold offers a buyback program for clients who decide to sell their purchased gold coins and other precious metals.
Blanchard Gold company policies suggest this process is meant to be relatively straightforward and favorable to the customer.

Our Final Thoughts on Blanchard Gold

Although Blanchard Gold has been around since 1975, this gold dealer seems to have a few skeletons in its proverbial closet.

They tout themselves as tops in the precious metals industry, but this precious metals business may not serve its customers effectively.

We do not feel the company is a scam, but we continue to question their trustworthiness and honesty. Unfortunately, we cannot recommend this company for these reasons and the many poor reviews we have found.

There are far better options, including American Hartford Gold, Goldco, and others. We hope this Blanchard Gold review has given you great insight into the company.

Should you contact the company and work with them, we urge you to proceed cautiously, whether you purchase or sell precious metals or collectible coins to this industry leader.

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