Blanchard Gold Company is not only listed in the top ten companies in the gold-selling field by numerous reviewers, but it is also often mentioned as the gold standard of the market. The company is a pioneer in the field, having been founded by James U. Blanchard III, the man who spearheaded the drive for Americans to have the right to own gold once again. Many people forget, or perhaps never knew, that Americans had not been allowed to own gold since 1933. In 1974, following years of effort by Blanchard and other like-minded citizens, President Gerald Ford signed the legislation that allowed private citizens to once more own gold.
The next year, Blanchard founded the company that sells gold bullion and investment-grade gold. Since that time, almost half a million investors have consulted with the staff at Blanchard and developed their individual strategies for managing their wealth and building their portfolios. The company is physically located in New Orleans, Louisiana, but has an accessible online business. In Blanchard reviews, one of the company’s most often cited benefits is its guarantee to buy back anything the company has sold to the client.
Better Business Bureau Rankings
The BBB gives Blanchard its coveted A+ rating and says it has been accredited with BBB since September 13, 1982. It describes the company as the U.S.A.’s largest and more respected retail investment firm, specializing in precious metals and coins. The BBB further states that the company meets its accreditation standards that include handing any consumer complaints by seeking to make a good faith effort to resolve the issues.
The BBB lists 14 complaints that have been filed against Blanchard in the last three years. BBB shows two resolved complaints in the last year. Of the 14 registered complaints, four were regarding products and services, three complaints were lodged in each of the following: advertising/sales issues, billing/collection issues and delivery issues, and one complaint was in the guarantee/warranty area. All these complaints are listed as closed.
If a potential investor wishes to read the exact details of each complaint, that is available at the BBB website to allow customers to completely research Blanchard and any other company with which they are considering doing business. The BBB provides a comparison chart for the field, and there are only two companies listed of relative size to Blanchard in the BBB database.
Unfortunately, Blanchard does not appear to be listed with TrustLink, an online community service watchdog firm that rates companies in an attempt to build trust in online purchasing. The online Ripoff Report shows one complaint, a strong rebuttal by a satisfied client and a reply from Blanchard.
For someone opening a gold IRA, a $75-a-month purchase of either Blanchard gold bullion or other investment-quality metal is required. The purchases accumulate and are held in an IRS-approved custodian bank until the client reaches the age of at least 59.5, as required by law. According to the Blanchard website, the company normally deals with GoldStar Trust Company for storage of its IRA tangible assets but the company is willing to assist clients in choosing their own IRS-approved storage facility.
Storage fees are based upon the amount the client has invested. The smaller the investment, the higher the percentage charged each month. However, as the investment amount increases, the percentage charged decreases. The maximum percentage charged is 3.9 percent for a $75 to $99 investment, 2.5 percent when the investment is $100 to $799, 2 percent for $800 to $3,999, and down to 1 percent for accounts of $4,000 and above.
It is easy to be attracted to a company that has earned the reputation Blanchard enjoys and not do any homework before opening an account. However, gold IRAs are intended to be their owners’ future. Therefore, always, no matter with whom a client is dealing, investors should do their homework and research, research, research before deciding where to invest.