Blanchard Gold Complaints and BBB Rating Explained

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In this blog, we’ll discuss Blanchard Gold and see if there have been any notable complaints from customers. Join us as we uncover insights to help you make your investment decisions wisely.

What is Blanchard Gold?

Blanchard Gold serves as the online platform for Blanchard and Company, Inc., a renowned entity in the field of gold investment. 

It traces its roots back to Jim Blanchard, who advocated for gold investing in 1971, eventually establishing the National Committee to Legalize Gold. Subsequently, Blanchard founded Blanchard and Company, Inc. in Louisiana to facilitate investment in this emerging market.

Following Jim Blanchard’s departure in 1988, Donald Doyle assumed the role of CEO. Under his leadership, Blanchard and Company, Inc. flourished, celebrating its 45th anniversary and expanding its client base to over 400,000 individuals.

Donald Doyle’s tenure saw significant growth, with the company’s client roster reaching 200,000 within a short span. He also played a pivotal role in legislative initiatives that facilitated gold purchasing and investment, including the incorporation of gold into IRAs.

Today, Blanchard Gold operates from offices in four U.S. cities and holds exclusive contracts for the sale of specific coins and metals.

Are there any Blanchard Gold Complaints?

The number of Blanchard Gold complaints is extremely low in comparison to their positive reviews. Most of their reviews highlight the following points:

1. Exceptional Customer Service:
Blanchard Gold is frequently praised for its outstanding customer service. Clients appreciate the knowledgeable and professional staff who provide clear, thorough explanations and guidance throughout the purchasing process. The team’s expertise helps customers feel confident in their investment decisions, as highlighted in multiple reviews across platforms like TrustPilot and Better Business Bureau (BBB).

2. Wide Range of Products:
Customers value the extensive selection of precious metals offered by Blanchard Gold. The company provides a variety of gold, silver, platinum, and palladium products, including coins and bars from reputable mints worldwide. This diverse inventory caters to both novice and seasoned investors, allowing them to find products that suit their investment goals.

3. Educational Resources:
Blanchard Gold is well-regarded for its commitment to educating customers. The company offers a wealth of resources, including investment guides, market analysis, and informative articles. These materials help investors make informed decisions and understand the benefits and risks associated with precious metals investments.

4. Reputation and Trustworthiness:
Blanchard Gold has built a strong reputation over its decades of operation. Clients trust the company for its transparency, reliability, and ethical business practices. Positive reviews on sites like Consumer Affairs and TrustLink reflect the company’s dedication to maintaining high standards and fostering long-term customer relationships.

5. Competitive Pricing:
Many customers commend Blanchard Gold for its competitive pricing and transparent fee structures. The company’s commitment to offering fair prices without hidden fees is a significant advantage for investors looking to maximize their returns.

**6. *Secure Storage Options:*
Blanchard Gold offers secure storage solutions for precious metals, providing peace of mind to investors. The company partners with reputable storage facilities that offer high levels of security and insurance coverage, ensuring the safety of clients’ investments.

**7. *Smooth Transaction Process:*
Clients appreciate the seamless and efficient transaction process at Blanchard Gold. From account setup to purchasing and delivery, the company’s streamlined procedures make investing in precious metals straightforward and stress-free.

Summary of Customer Feedback:

• TrustPilot: Many reviews highlight the professionalism and helpfulness of the Blanchard Gold team, praising their customer service and investment guidance.
• BBB: Blanchard Gold holds a high rating with the Better Business Bureau, reflecting its commitment to resolving customer issues and maintaining ethical business practices.
• Consumer Affairs: Positive feedback on Consumer Affairs underscores the company’s dedication to customer satisfaction, transparent pricing, and quality products.

Some Blanchard Gold Complaints and Reviews:

Blanchard Gold is highly regarded for its exceptional customer service, diverse product range, educational resources, competitive pricing, and secure storage options. The company’s strong reputation and commitment to transparency make it a trusted choice for investors looking to diversify their portfolios with precious metals.

Although the company maintains an A+ rating from the BBB, it has encountered some discontent from customers, particularly regarding sales practices and the perceived risks associated with investing in rare coins.

Here are the complaints filed against Blanchard Gold by customers:

A customer on Yelp has raised concerns about Blanchard Gold’s buyback policy. They allege that while the company claims to repurchase any coins bought from them, they only do so if a buyer is already lined up, shifting the risk entirely to the customer. 

They also suggest that the company might exploit elderly individuals who appreciate the attention received from sales representatives.

Another complaint revolves around the promotion of “rare” coins as a secure investment. One customer recounts their family’s experience, where their late father invested a substantial sum in rare coins back in the mid-1990s, expecting them to appreciate alongside gold prices. 

However, upon attempting to sell the coins 25 years later, they discovered that their value had depreciated significantly, with some coins losing up to 70% of their value. 

Despite the considerable increase in gold prices over the years, the customer felt misled by Blanchard Gold’s sales pitch and advised others to seek alternative investment options for better returns.

Additionally, it’s important to note that aside from the 3 Blanchard Gold complaints, there haven’t been any significant issues reported that undermine the overall commitment of Blanchard Gold to support its customers. 

While these complaints raise valid concerns, they represent only a fraction of the feedback received by the company. As with any investment decision, individuals are encouraged to carefully consider all available information and conduct due diligence before proceeding.

What Blanchard Gold’s Customer Reviews Suggest

Blanchard Gold’s customer reviews paint a varied picture of the company’s reputation.

On BBB, Blanchard Gold has a customer rating of 4.89 out of 5 stars based on 79 reviews. The company has also been BBB-accredited for over 49 years and holds an A+ rating.

Similarly, on Yelp, with 3 reviews, Blanchard Gold has an average rating of 2.3 out of 5 stars, suggesting mixed experiences among customers.

What Products & Services Blanchard Gold Offer 

Blanchard Gold offers a diverse range of products and services to cater to its clients’ needs:

Gold Coins:

Blanchard Gold presents an extensive collection of one-ounce gold coins, featuring designs such as American Eagle and American Buffalo. These coins are available for approximately $30 each.

Fractional Gold Bullion Coins:

Clients have access to fractional gold bullion coins, weighing less than a full ounce. Modern coins from recent years are available at lower prices, while larger fractional coins may cost $1,000 or more.

Gold Bullion Bars:

The platform also offers gold bullion bars in various sizes, up to one kilo. These bars come in protective cases suitable for display and protection.

Investment Gold:

Blanchard Gold provides a selection of investment-grade gold suitable for collectors, including $20 Liberty VF, AU, and XF coins.

Mint State Gold:

All mint-state gold coins on the site originate from reputable mints in the United States. These coins, with face values ranging from $1 to $10 or more, are priced based on their value and condition.

Silver:

Blanchard Gold offers certified silver bullion coins, circulated silver coins, and silver bars. Silver investment coins are typically in mint or near-mint condition and come with display boxes. Prices may not be listed on the site, requiring clients to inquire directly.

Palladium and Platinum:

Clients seeking palladium and platinum can explore one-ounce bars and Canadian Platinum Maple Leaf coins, priced slightly above $1,000 each.

Rare Coins:

Blanchard Gold is renowned for its selection of rare coins, appealing to both investors and collectors. Clients can utilize the site’s detailed guide to explore available coins, including ancient and commemorative varieties, with face values of up to $4.

Blanchard Gold Fees and Cost

Regarding gold IRA fees, customers should refer to the fee structure of their custodial partner, GoldStar Trust Company. GoldStar Trust Company imposes a one-time setup fee of $25 and a transaction fee of $40 for each purchase or sale within the IRA.

Additionally, an annual administrative fee of 0.8% of the total fair market value of assets applies, with a minimum fee of $50 and a maximum of $250.

There is also an annual storage fee equivalent to 1% of the assets’ fair market value, with a minimum fee of $40.

If you’re serious about investing in precious metals, you should start with this free gold IRA scam checklist. It will help you identify potential scams and invest safely.

Additional Highlights of Blanchard Gold

In addition to boasting over 45 years of industry experience, Blanchard Gold offers several distinguishing features that set it apart from competitors:

Buyback Program:

Blanchard Gold offers a notable buyback program, providing customers with the opportunity to receive quotes for both bullion and rare coins. 

After obtaining a quote, the company conducts a physical inspection of the products. Customers wishing to sell back investment-grade gold can directly contact the firm to initiate the process. 

Such buyback programs offer investors quick liquidity, making them popular among investors.

Free Resources:

Blanchard Gold prioritizes client education by providing a wealth of free resources. The company’s leadership includes numerous industry experts whose work has been recognized in various publications.

 Additionally, Blanchard Gold’s website offers a comprehensive collection of free resources, including charts, guides, and the latest news on the precious metals industry. 

These resources serve as valuable tools for beginners, offering insights into the market trends and daily updates on the prices of gold, silver, platinum, and palladium. Furthermore, the company provides helpful information on sales tax and other crucial topics.

Should you be Concerned about Blanchard Gold’s Complaints?

While Blanchard Gold has received two negative reviews on Yelp, indicating some dissatisfaction among customers, there have been no significant complaints or issues reported that would raise serious concerns about the company’s integrity or commitment to customer satisfaction.

Despite the limited number of reviews on platforms like Yelp and BCA, Blanchard Gold’s long-standing presence in the industry and its A+ BBB rating suggest a level of trustworthiness and reliability among its clientele.

It’s important to note that negative reviews can sometimes be isolated incidents or subjective experiences that may not accurately reflect the overall quality of service provided by Blanchard Gold.