The US-based Blanchard & Company, or simply Blanchard Gold, is a trusted source for buying and selling precious metals. Currently, it ranks among the industry’s biggest and most well-liked gold companies. However, it still has its share of negative reviews.
Blanchard Gold was established in 1975 after the founder Jim Blanchard’s marketing campaign to persuade the government to legalize private ownership of gold was successful.
This business, run by a family, advises and assists its clientele in employing the time-tested method of diversifying their money holdings into high-quality physical assets.
Rare numismatic coins are another option for investors who diversify their portfolios away from the traditional precious metals investment market. Due to the high risk associated with these investments, they are not eligible for use in a self-directed individual retirement account.
However, such discoveries might be good for gold coins enthusiasts. According to the firm representatives, honesty and transparency are two of its greatest strengths.
All employees are highly trained specialists in the precious metals industry. Among the topics you might discuss with them is the rise and fall in the price of precious metals throughout time. All the questions you have will be answered by those with the information you need.
The company’s specialists are well-versed in more than just the precious metals they deal in; they also understand financial principles and can foresee economic trends. You may learn about a well-balanced portfolio with experts’ help.
As an alternative to the stock market, a precious metals investment is a popular option. In times of market turmoil, they tend to rise in price, whereas in times of market prosperity, they tend to depress the value of such assets. In this Blanchard Gold review, you will learn the different aspects of the Blanchard Gold Company.
Background of Blanchard Gold
Blanchard Gold is a precious metal and rare coin investing firm. You can purchase platinum and palladium as bullion, whereas gold can be purchased in coins or bullion. Moreover, the organization provides a diverse selection in terms of gold coins like the Gold American Eagle and many more.
Individuals with preexisting retirement accounts interested in investing in precious metals can do it in several ways. As a retirement asset, precious metals are highly recommended due to their differential reaction to economic risk factors compared to stocks.
You may rest easy knowing you have a safety net in case the market crashes. This ensures you’ll have a valuable retirement account and enough money to get by in a financial emergency.
Gold and silver are safe havens and should account for 10-20% of your retirement portfolio. The Internal Revenue Service (IRS) has issued rules for investing in precious metals, including needing a custodian and storing precious metals in a secure location.
History of Blanchard Gold
Its role in developing the market for pure precious metals investment is one of the company’s most intriguing features. The company’s namesake was instrumental in getting the right for Americans to acquire rare coins. However, the Blanchard gold investment was previously unavailable to individual Americans in the United States.
Several pivotal events marked this revolution. One of the most memorable events was when a banner plane was flown over Nixon’s second inauguration.
In 1974, the movement finally started to produce results. After hearing from the American people, President Ford restored the constitutional right to acquire gold.
Following this, in 1984, the company’s namesake, Jim Blanchard, was honored as the Man of the Year by the World Gold Association for his unending service as a precious metals dealer.
The Blanchard gold company has been dealing in gold for over 40 years. Furthermore, the organization provides you with a broader range of investment options than its rivals. To reiterate, everyone here is well-versed in the various financial options available and can provide advice tailored to your needs.
Services and Goods Offered by Blanchard Gold
Blanchard Gold deals with the sales of collectible coins and rare coins. It sells platinum, palladium, gold, and silver in the form of bars and coins. Additionally, the company meets the standards necessary for use in retirement accounts.
Scope for a Precious Metals Investment
The company has promised to repurchase all outstanding shares. You may easily resell your collectible coins and other belongings if you are financially bound. In general, you can count on being provided with a competitive rate with the current market norm. Moreover, you will lose money if you pay more than the usual rate, but you shouldn’t feel cheated.
This is a service that a precious metals dealer offers because it brings in more customers and increases revenue. It can be difficult to turn your gold holdings into actual cash. You may relax knowing that you have already found a buyer for your investment and will not suffer any financial loss due to the sale.
Blanchard Gold is also a place to go if you want to sell gold you already possess. Moreover, it has to be noted that not all gold vendors offer this. It will instead only repurchase items that it has already sold.
According to this Blanchard Gold review, keeping an eye on the going rate might provide you with a ballpark figure to use as a starting point in negotiations with the company. All prices are based on the current gold price.
No Gold IRA Services
A gold Individual Retirement Account (IRA) is a common method for gold investing. You can invest in rare coins without worrying about paying taxes until you cash off the dividends. It’s a common option for retirees looking to spread their investment risk in a market downturn.
However, Blanchard Gold does not offer dedicated IRA support. You cannot rely on it to handle your IRA investments. There are several financial services providers to choose from if you are looking for an IRA.
An expert should be consulted if an individual retirement account (IRA) is something you are considering. By enlisting the aid of experts, you can shorten the procedure significantly and avoid interacting with any other parties. They will assist you in filling out the necessary forms, assigning a custodian, and explaining the procedure.
That’s not something you will find in Blanchard Gold. Anyone looking to make purchases for their own portfolio should look no further than this firm.
Customer Feedback
According to this Blanchard Gold review, the company has received much criticism from its patrons over the years it has been operating.
Those who have had negative experiences are far more numerous than those who have had positive ones. The company’s clientele tends to be of an older demographic, which may be one of the causes.
This pioneering company from the 1970s and 1980s invested in the fledgling precious metals industry. Blanchard places a premium on establishing lasting partnerships with his customers.
As opposed to the various customer complaints, the company has also received praise from satisfied clients. Some customers have commented that they have been loyal customers for many years.
Customers have reported receiving their collectible coins, metals, and rare coins promptly and having a positive overall experience. They have verified that the company is one they would recommend to others.
Unfortunately, it seems that Blanchard has fallen behind the times. Although it formerly dominated its field, competition from newer, more innovative enterprises has forced it to drop to second place.
We may conclude that the company’s satisfied customers are just naive newbies with no idea what they are missing out on. What they are lacking in awareness is currently being overlooked.
It’s also possible that the corporation tried to bury any unfavorable feedback by artificially inflating the number of positive comments. This might further point to the fact that the company’s leadership may lack the technical expertise necessary to keep up with the times.
Policies of Blanchard Gold
The company’s policies are generic and straightforward. Clients can feel safe in their purchases thanks to a 10-day money-back guarantee. If you’re unhappy with the gold bullion, you can return it and get a full refund.
This policy governs the handling of negative reviews from the consumer about receiving the incorrect item. Remember that your coins are covered by a 10-day money-back guarantee beginning when you get them, not when they are shipped.
In the United States, shipping can take up to two weeks. International shipments add considerably more time to this process.
When you’re ready to sell your rare metals, you can take advantage of the buy-back offer. At the current market price, the business will buy back your metals.
You run the danger of losing money if the actual market value of your precious metals drops below what you paid for them, as is the case with any investment.
Still, in times of economic uncertainty, trusting rare coins and precious metals dealers can be a reliable choice if accurate and reliable information is provided. When the value of the dollar falls, the value of precious metals usually rises. Precious metals investments are the ideal hedge against inflation, a big issue for those investing for retirement.
It is worth noting that there are alternative gold IRA distributors you can work with to convert your holdings into cash. You are not obligated to accept Blanchard’s offer; feel free to negotiate with any interested party.
Blanchard Gold Shipping Policies
After placing your order, it will be dispatched via FedEx, USPS, or UPS. Normal order verification occurs at the time of shipment. You will be provided with a tracking number to monitor the delivery process.
Depending on your state, a shipping tax may be applicable. Additionally, you must sign for the delivery. If the carrier cannot obtain your signature, you will receive a notification that delivery was attempted.
They may attempt delivery once or twice more, and if you are unavailable to sign for the box after the third attempt, the right precious metals dealer will return it to Blanchard. In such a circumstance, the company may arrange for your package to be sent to a secure location until you can get it.
Typically, the package is packaged discretely and does not reveal its contents or sender. In addition, the contents of your delivery are fully insured, ensuring that you will receive a refund if the metals are lost during shipment.
If your order is valued at less than $300, you will be charged a fixed rate of $23 for shipping and insurance. This cost will be the same regardless of your location in the United States. The company offers free delivery and insurance on orders over $300.
Positive Outlook of Blanchard Gold in the Precious Metals Market
Important good aspects of the company should be considered, especially in light of the bad assessments:
In the past three years, no BCA complaints have been received.
The buy-back program permits you to sell your metals at market value.
Numerous varieties of coins and bars containing precious metals are available on the market.
The buyback program is the biggest motivation to deal with it. Many other companies will not buy back your metals or pay you less than the market price to generate a profit.
The buyback program has several restrictions. One of the most significant restrictions is that collector coins can only be sold within 10 days of acquisition. Blanchard will no longer accept them after that.
If you are unsure whether your future purchases will be covered, you can call the company to inquire about coverage. Representatives can clarify any additional program details that you need to know.
However, some established corporations do have effective buyback programs. Additionally, they have superior customer support and more credible ratings than Blanchard. Before wasting money on a potentially unsatisfactory encounter, it is advisable to choose a reputable company.
According to the organization, trust is one of the most crucial aspects of client interactions. It desires to cultivate long-term connections with room for expansion. Despite its emphasis on trust, it is surprising how tough it is to locate good user evaluations online.
Staff knowledge is a major selling point. Perhaps even more so than any other facet of the business, it is crucial to the company’s success.
The company’s founder has spent his whole life serving the precious metals trade. He feels strongly that people should be able to invest in gold and other precious metals in the United States.
Blanchard advises his readers to diversify their holdings and put some of their money into precious metals. Gold’s long-term worth varies depending on the metal’s kind and purity.
Diversifying your gold holdings across various asset classes will help you build a more robust and diverse portfolio. Bullion is the ideal investment if you desire the opportunity for short-term gains, which is one of their rules of thumb.
Rare numismatic collectibles have a higher level of risk than other types of investments but can generate substantial returns over the long run. Among gold investments, mint state gold offers the most financial assurance.
Involvement of Blanchard Gold with Non-profit Organizations
The group is also involved with several different non-profits. Included among these groups are:
Cato Institution
Tangible Assets Industry Group
The Group for Fair Taxation and Regulation
These groups always know what’s happening in the world of precious metals and the economy. Additionally, the Coalition for Equitable Taxation is active in the effort to standardize financial regulation. They also push for clearer tax regulations that benefit individuals with diversified holdings.
Is Blanchard Gold Legit?
Blanchard and Company have been around for many years, so you know the goods are real. In other words, they are honest about the attributes of their wares. This disproves the accusation that they are a fraud.
While the quality of their products is generally high, the company’s track record with regard to shipping has been less than stellar, and numerous customers have lodged complaints with the Better Business Bureau.
Putting money into a company you know will safeguard your investments is preferable. A reputable business will have well-informed salespeople, a healthy market, a solid buy-back policy, and friendly support staff. Doing business with them should make you feel good.
It would appear that a large number of Blanchard’s clients have had negative experiences with the company. This company is a great option if you want to invest in precious metals but don’t want to commit to long-term storage costs. You should look elsewhere to invest in building a long-term relationship with your customers.
Conclusion
Regarding precious metals investments, Blanchard and Company isn’t the worst option, but it’s also not the finest.
Many customers have raised problems with customer support, shipping, and pricing. Some users have also complained that their deliveries have taken too long. Therefore, it’s not the greatest business to establish a long-term partnership with.
However, there are reasonably priced choices in its precious metals market. This makes it a great option for those who only wish to buy a small number of precious metals once rather than investing in a permanent storage solution. In the future, working with a company specializing in setting up a self-directed IRA with precious metals will yield greater outcomes.
About Tim Schmidt
Tim Schmidt is an Entrepreneur who has covered retirement investing since 2012. He started this website to share his expertise in using his Self-Directed IRA. Most recently he's been advising individuals to diversify into precious metals ahead of a certain recession. He invested with Goldco.