What to know about Blanchard and Company, Inc.
The list of dealers in the precious metals industry keeps growing larger. And this makes it hard to identify the dealers with any real experience.
I understand this. I also know that a certain amount of peace comes with working with someone who has the right amount of experience. And that’s why I will be introducing you to one of the few experienced companies out there.
Yes, I will be introducing Blanchard to you. And to start with will be to announce that Blanchard (registered as Blanchard and Company, Inc.) is a family-owned company that is well-established in the precious metals industry.
They exist to provide their clients with a tangible-assets portfolio, which I’m sure you know to be a proven strategy for enhancing and protecting wealth. And this they have done for over 40 years since they started in 1975.
They have, so far, helped clients to invest in precious metals bullion, and also in American numismatic rarities. Blanchard takes it as an honor to serve both collectors and investors in their bid to meet individual financial goals.
At Blanchard, you get to employ years of expertise in the formation of your investment portfolios. Blanchard works by assigning each client to a portfolio manager.
Your portfolio manager will listen to you while taking the time to understand your objectives, investment time horizon, and how much risk you are willing to take. And with this understanding, your portfolio manager will be able to provide you with recommendations that suit your objectives.
This business approach helps give each client enough purchasing power while reducing the risk of making expensive purchases.
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Blanchard also takes time to assist its clients on matters such as IRAs, inheritance, diversification, and storage of precious metals.
About the Founder
Blanchard and Company, Inc. takes its name after its founder, Jim Blanchard. If you are well versed in the history of the legalization of private gold ownership, you should already know who Jim is.
Why? Well, Jim Blanchard is one of those men who helped pave the way for Americans today, who now leverage precious metals and numismatics to protect and enhance their wealth.
Jim has always believed that owning gold should be a core right, as it is a key to individual prosperity. And with his belief, he led the nationwide movement to legalize gold ownership. Of important historical note was when he arranged a biplane to fly over President Nixon’s second inauguration with a banner that had ‘Legalize Gold’ written on it.
In 1974, his wishes finally came true. And in 1975, he started the investment firm of Blanchard and Company, Inc.
In 1999, Blanchard, in its goal of providing clients with experts’ help, partnered with John Albanese -the world’s most renowned numismatist. And when you are looking to invest in a numismatic rarity, John tops the list of those you want to help you out.
John has experience in numismatics that exceeds 35 years. And he is widely known for being the man who created both of America’s leading independent coin grading services. He started with the Professional Coin Grading Service (PCGS) as a co-founder, before launching the Numismatic Guaranty Corporation (NGC).
Blanchard has experienced exceptional growth over the years. And they owe this to their leadership team that is composed of highly experienced professionals. The members of this team include:
- Donald W. Doyle, Jr.:
Chairman. He replaced Jim Blanchard as CEO in 1988 and acquired Blanchard itself from Allegiance Capital Partners in 1991.
- David Beahm:
President & CEO. Since joining Blanchard, David has held other leadership positions, such as the Executive Vice President of Operations.
He also remains the Secretary of the Board of Directors today. And as CEO, he focuses on strategy, innovation, leadership, and customers. David is also responsible for all aspects of Blanchard’s brand and reputation.
- Debbie Cash:
Chief Financial Officer. She joined Blanchard in 1985 and became the Chief Financial Officer in 2003.
- L. Craig Baudot:
Executive Vice President of Sales. He started working at Blanchard in 1986 as a portfolio manager. In 1991, he got promoted to the post of Sales Manager. And in 2001, he got promoted again to being the Vice President of Sales.
So if you are looking to pay a visit to Blanchard’s trading office, you can reach them at 909 Poydras Street, Suite 1900 New Orleans, Louisiana.
Services at Blanchard
Purchase of Precious Metals and Rare Coins
Blanchard offers clients a flexible process of placing orders. And this can be done via the phone, or by using the website’s e-commerce service. While the phone option is only available from Monday to Friday, you can place an order online.
So if you are looking to purchase bullion, investment-grade gold, or numismatic rarities, you have Blanchard ready to serve you.
Sales of Precious Metals
Blanchard offers clients a 100% guaranteed buy-back program to former clients interested in selling their metals. Blanchard also buys both rare coins and bullion from the public, and the process is quite simple.
First, you will have to contact Blanchard to get an appraisal to determine the value and get a price quote. And as a point of note, Blanchard only buys rare coins that have been graded and ‘slabbed’ by the Professional Coins Grading Service (PCGS).
The next thing will be to ship your product to Blanchard for physical inspection. You will have to send the package through a Registered and Insured U.S. Mail. And don’t forget to send the tracking details to Blanchard.
Once Blanchard gets your shipment and confirms its grade and condition, they will send you a check for the agreed amount via regular U.S. Mail.
Adding Precious Metals to your IRA
To be sure we are on the same page here, I’m sure you understand that only a self-directed IRA allows you to acquire precious metals. And for further education, the self-directed IRA not only enables you to invest in precious metals.
It still has all the benefits of a traditional IRA, and it also gives you full control over your portfolio.
Now, to get started with adding precious metals to your IRA, you need to open a self-directed IRA. Blanchard partners with the Goldstar Trust Company as custodians of precious metals IRA. But if you decide to open an account with another custodian, you are, of course, free.
Only, you may want to consider the transaction ease that already exists between Blanchard and Goldstar Trust Company.
Once you have an account, the next thing will be to fund it. The funding can be done by you transferring funds directly, or by a rollover of your funds in a former IRA or 401K. But while their website claims that a specialist will help you through the process, there is no specific mention that Blanchard helps with rollovers.
Finally, once your account is set up and fully funded, Blanchard will help you choose from their catalog the type and quantity of metals that best suit your needs and investment goals.
After the order’s confirmation, you can leave the rest to Blanchard and your custodian to sort out the payments and shipping. And just so you know, you cannot add a precious metal that you own to your precious metals IRA. You always buy anew and add them directly.
Payments and Shipping
Paying for orders at Blanchard comes with the convenience of having several payment options. These options include:
- Wire Transfer
- Credit Cards with a maximum of $5,000 per order
Something to note here is that online purchases from Blanchard require that you open an account, and fund it ahead of your purchase, to ensure ready -payments.
Payments sometimes include shipping cost, which depends on the products and the quantity of the product. The shipping cost is usually displayed in your cart, and at checkout when purchasing the product online. Blanchard ships every product by Registered and Insured USPS Mail or UPS.
Regarding storage, you will have to figure that out yourself. You can reach out to your portfolio manager at Blanchard to help you make a storage choice.
So far, I have introduced about all you should know of Blanchard and Company, Inc. It’s time we go on now to check their current ratings from trusted consumer advocacy website.
From the above, I must state my disappointment in the not-so-perfect rating that Blanchard received from BCA. But then they have an excellent rating of A+ with BBB, which is still something.
Generally, Blanchard doesn’t seem to have a good rapport with their customers judging from the low number of reviews of which most turned out to be complaints.
Are There Complaints?
Yes! There were three complaints of four reviews on the Better Bureau Business’ website. And it is also evident that the TrustLink review that gave Blanchard a 1-star rating was also a complaint.
Upon further investigation, I figured the issue was expected when dealing with numismatics given their high premium value, and thus the expensive cost of purchase. What remains the question is if Blanchard is guilty of hard-selling these numismatic coins to clients, or not.
⚠️Is Blanchard a Legit Company?
Well, Yes! They are! The BBB and BCA recognize them as a legitimate company. Also, their website is one that clearly shows the pricing of products and the Blanchard staff. There is nothing shady about them. You readily know who you are buying from, and the price you are buying from them.
Pros and Cons
Lastly, as a safe practice, we will be comparing Blanchard’s positives and negatives to help you decide if they are the dealer for you.
- They have proven themselves as experts in the precious metals industry.
- You get to work with a portfolio manager that sees you the whole process.
- They offer a wide selection of products.
- They offer you a chance to add precious metals to your IRA.
- They offer a buy-back program.
- Their products tend towards being with high premiums.
- There are accusations of being pressured towards buying numismatics.
Blanchard has that team of experts that can help you have a smooth ride in the precious metals industry. However, Blanchard seems to prefer numismatics, which is generally not considered smart investment assets. So to play safe and not be a victim of ‘hard-selling’.
I will advise you to check out other dealers that can offer you a balanced view of both bullion and numismatics.
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