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Blanchard And Company Review – The Quick And Easy Way

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Blanchard and Company reviewThinking about investing in precious metals and have heard about Blanchard and Company? Great, with this Blanchard and Company review we will go through all you need to know to make an educated decision if this is a company you want to do business with or not.

Do you find it hard to get the big picture when researching a company online because there are a lot of different sources to get information from?

This post should serve as a solution to that problem. We have gathered all the important information into one, simple to read, post.

We will look at the most important factors when reviewing a company such as a quick about the company section, what products and services they provide, customer reviews and much more.

Once you have read this article you should have enough information to decide if you want to purchase precious metals from Blanchard and Company or not.

Sounds good? Great, let’s start by looking at some quick facts about the company

About Blanchard and Company – some quick facts to get to know who they are

Blanchard and Company is a company that specializes in the physical precious metals market. They help their customers buy physical precious metals and also to help their customers add physical precious metals to their retirement accounts.

They are operating out of New-Orleans.

It was founded in 1975 by James Blanchard which makes them one of the oldest precious metals companies that I have been reviewing.

James Blanchard is a very interesting and famous person within the gold community. He was one of the persons helping the movement to legalize gold possession.

In fact, he challenged the authorities to arrest him for owning physical gold.

In 1933 president Roosevelt signed a law to forbid individuals, associations and corporations to own physical gold. The reason was to stop the hoarding of gold that occurred during the great depression. (just another example to why gold is a safe haven)

Back then we were actually on a gold standard and we stayed on the gold standard all the way up til 1971. In 1975 Blanchard and his partners had gotten their will through and it was once again legal to own physical gold.

That’s when Blanchard created his company that is still operating today.

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Blanchard and Company’s products and services – what do they offer?

Blanchard offers a wide range of products and services for people wanting to invest into precious metals. They offer both gold and silver in coins, bars or rare collector coins.

Blanchard also help people to add physical precious metals to their IRA and are holding a lot of metals that you are allowed to hold in your IRA under the rules of a self-directed precious metals IRA.

They also provide a lot of educational material on their website. There will be something to learn even if you are a little bit more experienced gold investor.

Blanchard also offers a lot of rare numismatic coins. This is also where they seam to put their focus. This is a little bit troubling because investing in rare coins is not the way I recommend that you should invest in precious metals.

When companies try to push you into buying rare collector coins it’s often because it’s easier for them to make a bigger profit then.

When you buy just regular bullion there is an easy way to see if the gold you want to buy is overpriced. You can just look at the current market price for gold that day and quickly see if the bullion you want to buy is close to the market price.

When you buy collector coins there is also a collectible value in the coin. This value is hard to put a price on which is why it’s easier for a dealer to sell you a rare coin at a higher mark up.

Stay away from numismatic collector coins if you’re not totally sure of what you are doing.

Blanchard and Company’s IRA fees – how competitive are their fees?

As we were talking about Blanchard and Company also help people to add precious metals to their IRAs. This is where there has been reviews online of their sales staff trying to push people into collector coins where they can make a bigger profit.

If you do decide to go with Blanchard and Company when converting your IRA to physical precious metals these are their fees:

  • Initial Setup Fee: $25
  • Annual admin fees: $60-$250 (scaled rate*)
  • Annual storage fees: $100 (scaled rate*)
  • Minimum investment amount: $10,000

What does scaled rate mean? Scaled rate is that it depends on how much you have invested. If you invest say for example the minimum amount of $10,000 your fee would be the lowest. If you instead invested $100,000 the administrative fee and storage fees would be more (scale up).

This isn’t the best because you never really know how much your fees will be. It’s better to have a flat fee for administration and storage which some companies have. That way you know how much your IRA will cost every year.

I will go through some companies that have a flat fee later on but for now, let’s have a look at their customer reviews.

Blanchard and Company customer reviews – what do their former customers have to say?

This is probably the most important factor when you decide if a precious metals dealer is good or not. Listen to what their customers have to say.

cbbb-badge-horzBlanchard and Company has a A+ rating with the Better Business Bureau (BBB). This is the highest rating that they give out. But when we have a look at their customer complaints it doesn’t look so good.

For the full review click here

blanchard and company customer complaints BBB
As we can see there is only one customer complaint that’s been filed at the BBB but that one is negative, complaining about the product/service.
The customer reviews doesn’t paint a much better picture with one customer review, and that review is negative.
blanchard and company customer reviews

 

Truslink logoTrustlink is another website where a lot of people usually leave reviews on a company. Again there is only one review filed for Blanchard and Company.

This is a little bit troubling because most of the other companies that I have been reviewing have a lot of customer reviews so that you can get an idea of how the company operates.

The only customer review that they have right now is a one star review. This is the review:

“BLANCHARD AND COMPANY CHARGES EXCESSIVE FEES AND COMMISsions. DO NOT BUY INTO THEIR SALES TO PURCHASE RARE COINS. ITS REALLY A WAY TO CHARGE EXCESSIVE FEES AND COMMISIONS. IF YOU ARE PLANNING TO PURCHASE GOLD, STICK TO BUYING BULLION AND DO YOUR HOMEWORK
AND CHECK OTHER SITES. DO NOT BUY THEIR GOLD COINS!THE COINS WILL HAVE A HUGE MARKUP OVER SPOT BUT THEY REALLY HAVE VERY LITTLE VALUE OVER THE SPOT PRICE. BUYER BEWARE. THEY ARE ON THE BORDER OF FRAUDULENT.”

For the full review page you can click here

 

logoAnother place is Ripoff Report where there has been two complaints filed against Blanchard and Company

If you are still considering doing business with Blanchard and Company you should read the reviews and see what you think.

What is good with Blanchard and Company?

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What’s good with Blanchard and Company?

A great thing about Blanchard is their wide variety of products. No matter what you want to invest in they most certainly got the product for you. They offer both gold and silver in coins, bars or rare collector coins.

For example, they have around 30 different types of gold coins to choose from.

People also like the fact that it’s James Blanchard’s company and everything that he has fought for and stands for. He’s a famous person within the gold community and people are often drawn to famous people.

He’s much more than just a gold advocate which most gold bugs are. Also believing in a free market and regulated government. These values and thoughts sounds very good to a gold investor that has read the history of gold.

Another great thing that Blanchard offers is their buyback guarantee. This is something that a lot of gold IRA companies doesn’t provide. Blanchard will buy back your gold or silver whenever you want to sell it for the current market price.

You can also sell your current gold and silver to the company, even if you didn’t purchase it from Blanchard and Company.

They will of course not pay you more than the current spot price. So if you just bought a gold bar and held it for say 6 months it will be hard to make a profit selling it back to Blanchard. But the fact still remains, if you really need to sell your precious metals fast and easy, they will buy it from you.

What’s bad with Blanchard and Company?

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What’s bad with Blanchard and Company?

Personally I don’t like that there aren’t a lot of customer reviews on the company. This could be a good thing because most people that are satisfied won’t leave a positive review.

But if you look at other gold IRA companies they have a lot of customer reviews making it easier to gain a better picture of how honest and good the company is.

There were a few negative reviews that I could find and they showed that people were not happy about the slow delivery of their precious metals and even some problem with the billing.

It also shows that Blanchard and Company didn’t do much to try and resolve these customers issues raising a red flag about their customer support.

The biggest red flag for me when reviewing Blanchard and Company was the fact that people said that their sales staff had tried to convince them into buying numismatic collector coins.

This is usually the way that people get scammed when they first start to invest in precious metals. By buying a “rare” collector coin that the dealer said was very rare and would gain a lot in value. Just to realize a few months later that this coin wasn’t that rare and you have paid a huge premium for your gold.

Stay away from collector coins and invest in gold bullion bars instead.

Conclusion – based on this Blanchard and Company review, should you do business with them?

To me there are a lot of red flags for Blanchard and Company and not that many customer reviews to recommend you to do business with them.

Investing in gold is a big decision and you should make sure that you find a great dealer that a lot of people have recommended and that are not trying to push their customers into buying rare collector coins.

After this review, do you feel secure by doing business with Blanchard? Please answer that question in the comments below.

Do you want to know about a gold IRA company that has 0 customer complaints?

Regal Assets Review - Logo, Inc 500 and Forbes InvestmentIf you are looking for a company that can help you to add physical precious metals to your IRA I would recommend Regal Assets.

They have 0 customer complaints since 2003 and have a 5 out of 5 start rating on Trustlink out of 950 reviews.

Regal Assets have also been featured on Frobes Investment guide and were ranked number 20 in Inc. 500 under financial services.

Make sure you read the full review of Regal Assets before you choose any dealer to know more. You will see that there is only good reviews about them.

Click Here To Read The Full Review Of Regal Assets

Regal Assets Review


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