One best method of maintaining wealth despite world uncertainties is investing in metals.
Precious metals have been popular among investors worldwide. This is because it can maintain its value despite any uncertain circumstances affecting the market economy. The popularity of metals opens a new door among certified entrepreneurs.
Today, you can find numerous metals dealers in different states. One of these is the Blanchard Gold, also called the Blanchard and Company. This company is considered the leading precious metals dealers in the market.
It is also believed that Blanchard company has spent more than half of its income on advertising. But the question is, are they reputable and reliable?
In this post, we have thoroughly investigated the things offered by Blanchard Gold. We will help you weigh the pros and cons of investing in precious metals to help you determine whether working with Blanchard Gold is a good idea. This Blanchard gold review will help you better understand how the company works and the feedback of its customers.
All in all, while you read this Blanchard Gold review, know that we’ve compiled a list of vetted gold investment companies.
This list is updated for 2022! See which companies made the list, because investing in gold is not a decision to take lightly.
About Blanchard Gold
Blanchard Gold has been working as a metals dealer for over 45 years. This is one of the factors that contribute to the legitimacy of the company. But despite these years in the service, Blanchard company also received a few complaints from their clients. This is the number one factor that you must consider when selecting a legit and reliable metals dealer.
When choosing a precious metals dealer, you should look for the one that offers a fair price. Beyond that, select the one that accommodates your queries and has an active customer service representative who will guide you throughout the process.
Unfortunately, the company did not perform well in these areas. Although they offer legit precious metals, it is not guaranteed that you can get them at the most valuable price.
Aside from that, many individuals also have their complaints regarding the collectible coins of the company. If you compare precious metals and collectible coins, you may notice that the latter has a more flexible rate.
According to some clients, the company purposely overprices its products and takes advantage of investment opportunities.
What To Keep In Mind?
Before we proceed to the succeeding sections of this review, it is important to consider your financial status when selecting a company to invest in. That is why we ensure to provide you with accurate and reliable information from reputable sources.
Blanchard Gold As A Company
As we mentioned earlier, Blanchard company is an agency that specializes in precious metals, such as gold, platinum, palladium, and collectible coins. You can purchase platinum and palladium in bullion. On the other hand, you can buy gold in either coins or gold bullion. What made the company popular in the market is that they offer gold coins in a wide array of variations.
Aside from that, Blanchard Gold also offers services that you can use to convert your 401 (k) or IRA gold into precious metals. Those individuals who have plans for early retirement are recommended to buy precious metals for one reason: it is a safer form of investment than the stock market.
This will future-proof and crash-proof your money. For example, if the market economy becomes highly volatile, you will have peace of mind knowing that your retirement account is secured from inflation.
If you are planning to invest in precious metals, it is highly recommended to use at least 10 percent of your retirement funds. Before the company approves your investment application, you should follow all the IRS regulations, such as having an IRS-approved storage vault and an account custodian. This will require you to pay annual fees for account maintenance.
The good thing about Blanchard is that they made the investment process as streamlined as possible. This means that they will prepare your paperwork and provide you with a custodian you can contact anytime.
But you can still find other gold self-directed IRA dealers that also offer streamlined investment processes plus offer lower annual fees. In line with that, one may notice that Blanchard seems to struggle in handling their rare silver coins.
According to the BBB (Better Business Bureau), Blanchard Gold has been in the industry since 1975. During their initial years, the company is known for its investment advisory services with the goal of educating individuals about gold. The Better Business Bureau and the Business Consumer Alliance accredited Blanchard Gold in 1982, which shows that the company has been on the lookout for BBB.
Being in the precious metals market for more than 40 years is a great accomplishment. During the 1970s, the founder also helped individuals to possess metals as a form of investment.
What Do Customers Say?
For several years in the service, the company has dealt with some negative feedback and complaints from their customers. This might be a red flag considering that the establishment focuses on online advertising to keep in touch with its customers. This seems that many of its customers share their bad experiences with the company online while others prefer not to leave only one review.
This has a reason behind this. One includes the fact that Blanchard’s main market is the older individuals. These are the groups of individuals who have been investing in precious metals since the 1970s.
According to the company’s official website, one of its primary goals is to establish a good and long-lasting relationship with its customers.
The positive company gold reviews about the company may seem related to this. The BBB feedback claims that some of the Blanchard Gold’s customers who shared their positive reviews stated that they have been working with the company for several decades.
They also added that the reason behind them staying with the company is Blanchard’s good services and high-quality metals.
On the other hand, it seems like the company has been left behind by innovations in the industry. No one can deny how impressive the company was 40 years ago.
But this has changed today as more gold companies are modernized and use new technologies to show off their expertise and provide excellent customer assistance.
That is why we are wondering if these ‘satisfied’ customers would be much happier and more satisfied if they worked with other modern precious metals industry dealers. Part of us thinks that many investors don’t realize yet the amount of money they are missing.
There is also a high chance that the company tries to cover up the negative feedback of their customers by making their ‘own’ positive reviews. This is not an effective strategy to make other people think that their company is prestigious.
Customer Complaints: Blanchard Company
The Blanchard Gold company has its BBB web page where many customers have complaints filed. But the company has handled those negative reviews by deleting them. Most of its users experience problems with almost everything about them, specifically the following topics:
• They have issues about the company overpricing their precious metals. Aside from that, most people also have problems with the company having hidden fees or charging their customers with credit card payments without asking for their consent.
• Another problem pertains to product delivery. Some have issues with the product not being properly packaged or the package being delivered longer than the expected delivery date.
• The Blanchard Gold has a very hollow promise since they usually decline to assist their clients whenever there are problems or complaints.
• Customers receive products they are not expected to receive, including receiving the wrong bullion or gold coins.
The most recent complaints about the company lie in the rare coins they offer. According to some clients, Blanchard uses high commission rates to mark them up. In other words, they sell rare coins with double or even triple the price of the actual value.
But Blanchard Gold also shared their response to these complaints, and according to them that they do not use a full markup rate for their coins. They also added that they never sell their precious metals and gold with more than 50 percent markup.
With that in mind, we can say that the company is trying to save its reputation, especially in terms of the value of its rare coins. Unfortunately, their response to these complaints does not seem to satisfy the issue with their market.
They also said that all the accusations of their customers are merely accusations, and they responded to it by leaving it as is.
In other words, your decision will depend on whether you believe the company or its clients. But with the complaints we have read, we became more suspicious with the company’s reputability and reliability.
You can still find other precious metals dealers with only a few complaints but offer exceptional customer service. In addition, a reputable company that specializes in precious metals will deal with unsatisfied clients by resolving the issues.
It is no doubt that the company has easy-to-understand and simple policies. One ideal policy that the company offers is its 10-day satisfaction guarantee. This means that you have ten days to get a refund or exchange if you have any issues with the coins you received. This policy is used as a resolution to deal with customers having issues with the products they receive.
In line with that, it is worth noting that the 10-day satisfaction guarantee policy will work once they ship your orders. An average shipping time for different states in the US continent would take around 14 days. This may take a little longer if you live in international countries.
The company also offers a buy-back program, especially if you plan on trading your purchase of precious metals in exchange for liquid cash. In line with that, the company will take back the precious metals and sell them again at their actual cost. When it comes to investments, there is always an associated risk. This is because there is a high chance that the value of your purchased precious metals may decrease.
With that in mind, precious metals have a barrier between them and market inflation. In much simpler words, precious metals’ value increases while there is a depreciation in dollars. Considering that many individuals, especially those close to their retirement, have a major issue in inflation. That is why investing in precious metals is a great advantage.
But take note that there are other selling gold firms in the market that offers a buy-back promise aside from Blanchard. You can still find more reputable gold IRA services and distributors who will be interested in purchasing your precious metals if you need liquid cash. Liquidation is an easy and straightforward way of transferring your tangible assets without settling with a subpar buyer.
Blanchard uses USPS, UPS, and FedEx to ship your orders. They will send you an order confirmation after they ship your precious metals. Beyond that, they will also give customers a tracking number to monitor the exact location of their package. Some states may require you to pay a shipping fee.
Like most online transactions, you also need to sign to show your approval for the delivery. If the package dealer did not receive your signature, they are more likely to give you the slip showing their attempts at delivery. Most couriers will try three delivery attempts. On the third time, if you are still unable to sign the slip, they will return your purchase metals to Blanchard.
For customers who failed to sign their packages, you may ask a favor from Blanchard Gold to store your precious metals investment in a secure facility. Take note that you need to pay storage fees. After that, you can pick up your orders during your leisure time.
Each order is packed properly and does not indicate the sender’s information and the package to ensure confidentiality. The company also offers a full insurance policy that protects the products wrapped in a package. This will allow you to ask for a refund or money back if the package is stolen or lost during the delivery.
If your order costs less than 300 US Dollars, you need to add additional 23 bucks for shipping and insurance. This cost is applicable no matter where you are in the United States. If your order exceeds 300 US Dollars, the company may reward you with a free insurance policy and shipping fee.
Trustlink and Ripoff Report
Ripoff Report and Trustlink are the most popular websites that monitor customer reviews regarding certain services. Consumers who have a bad experience in dealing with various businesses may share their feedback with Ripoff Report. On the other hand, Trustlink is a website that collects reviews from customers who already experienced working with the company.
Currently, you can find any trace of Blanchard in Trustlink. You can see any positive or negative reviews about the company. This could be a red flag as it shows that the company has not worked with customers before to leave them feedback. Aside from that, this may also show their inefficiency in technical enhancements.
On the other hand, two customers filed a complaint against Blanchard, shown on Ripoff Report. The first report talks about the best price of the company’s rare numismatic coins than its actual market value. Considering that most business consumers have experienced problems like this, it only shows that the company did not do anything to fix the issue.
On the other hand, it would be hard to determine the level of marked-up price. Another issue customers usually experience with Blanchard is that the current market price value of bullion and rare coins are widely different. These investment strategies should be appraised first. After that, the market rate will depend on how much money interested customers can bid.
Since the demand for rare coins changes rapidly, their value may reduce or increase in just a matter of hours. If a person prefers to keep their coins stored in their home, the value for that certain coin will increase. This is the main reason investing in rare coins is risky. But if handled properly, this could help you make a good income in the future.
Another issue you may see in the Ripoff Report tackles the pricing transparency of the company. Blanchard usually changes its product’s market price without even talking their clients about it. Aside from that, they don’t also allow their clients to choose at a much lower cost. This has caused many consumers to pay more.
This has made other investors feel frustrated. If the company told you the exact amount you need to pay, you are expecting that they will charge you with the exact cost they told you. In addition, if the precious metals dealer needs to change their product’s value, they must promote transparency.
Final Thoughts: Blanchard Gold Company Review
Considering that the company has been serving the industry council since 1975, it is considered one of the oldest precious metals companies in the United States. Aside from that, the company’s founder was also a part of a group of Americans to open the door to purchase precious metals investment to people during the 1970s.
Unfortunately, it may seem that Blanchard Gold failed to adapt to the technological advances in the industry. You can only find a few positive comments about the company on the internet. But, the complaints are more than the company’s good feedback.
Most of its customers claimed that the company has misleading purchase price policies. Beyond that, they also found that the company is overcharging them for rare coins. Furthermore, Blanchard does not have IRA planning specialists like other better companies specializing in precious metals dealerships.
With that in mind, we don’t highly recommend investing in precious metals offered by Blanchard Gold. Working with a precious metals dealer that offers excellent policies and superb customer service would be best. We recommend you check out our analysis of GoldCo to find out why they are the most fit to assist you in your gold investing endeavors.
We hope that this Blanchard Gold review has helped you weigh the pros and cons of investing in gold assets and other metals.