Investing in precious metals, particularly gold, has long been considered a prudent strategy for diversifying portfolios and safeguarding wealth against economic uncertainties. One avenue that has gained prominence is the Gold Individual Retirement Account (IRA), which allows investors to include physical gold and other precious metals in their retirement planning. Blanchard and Company, Inc., commonly known as Blanchard Gold, is a notable firm in this sector, offering a range of services tailored to investors interested in Gold IRAs.
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What is a Gold IRA Offered by Blanchard Gold?
A Gold IRA is a self-directed individual retirement account that permits the inclusion of physical gold and other approved precious metals. Unlike traditional IRAs, which typically hold paper assets like stocks and bonds, Gold IRAs provide the advantage of owning tangible assets. This tangible ownership can serve as a hedge against inflation and currency fluctuations, offering a layer of security in volatile economic climates.
About Blanchard Gold
Founded in 1975 by James U. Blanchard III, Blanchard, and Company, Inc. has established itself as a significant player in the precious metals market. The company is headquartered in New Orleans, Louisiana, and has been instrumental in advocating for the private ownership of gold in the United States. Over the years, Blanchard Gold has expanded its offerings to include a wide range of precious metals products and services, catering to both individual investors and institutions.
Services Offered by Blanchard Gold
- Precious Metals Sales
Blanchard Gold offers a comprehensive selection of precious metals, including:- Gold Coins and Bars: Products such as American Gold Eagles, Canadian Gold Maple Leafs, and various gold bars.
- Silver Coins and Bars: Including American Silver Eagles, Canadian Silver Maple Leafs, and silver bars of different weights.
- Platinum and Palladium Products: For investors interested in diversifying beyond gold and silver.
- Gold IRAs
Recognizing the growing interest in precious metals for retirement planning, Blanchard Gold facilitates the establishment of self-directed IRAs that include physical gold and other approved metals. They guide clients through the process, ensuring compliance with IRS regulations and helping select appropriate products for their retirement accounts. - Market Insights and Education
Blanchard Gold places a strong emphasis on educating their clients. Their website features a wealth of resources, including articles, market analyses, and guides on investing in precious metals. This commitment to education empowers investors to make informed decisions aligned with their financial goals.
Setting Up a Gold IRA with Blanchard Gold
Establishing a Gold IRA involves several key steps, and Blanchard Gold assists in the process:
- Choosing a Custodian
IRS regulations require that physical gold within an IRA be held by an approved custodian. Blanchard Gold collaborates with reputable custodians, such as GoldStar Trust Company, to ensure secure storage and compliance with all legal requirements. - Funding the Account
Investors can fund their Gold IRA through various methods:- Transfers: Moving funds from an existing IRA to the new self-directed IRA.
- Rollovers: Transferring assets from a 401(k) or other retirement accounts.
- Contributions: Making new contributions, subject to annual limits set by the IRS.
- Selecting Precious Metals
Not all gold products are eligible for inclusion in a Gold IRA. Blanchard Gold assists clients in selecting IRS-approved products, which typically include:- Gold: Minimum fineness of .995.
- Silver: Minimum fineness of .999.
- Platinum and Palladium: Minimum fineness of .9995.
- Examples of eligible products include American Gold Eagles, Canadian Gold Maple Leafs, and certain gold bars.
- Storage Arrangements
The IRS mandates that precious metals in an IRA be stored in an approved depository. Blanchard Gold coordinates with custodians to arrange secure storage at facilities like the Delaware Depository, ensuring that clients’ investments are protected.
Advantages of Choosing Blanchard Gold for Your Gold IRA
- Experience and Reputation
With nearly five decades in the industry, Blanchard Gold has built a solid reputation for reliability and customer service. Their longevity speaks to their expertise and commitment to client satisfaction. - Comprehensive Product Selection
Offering a wide range of IRA-eligible products, Blanchard Gold caters to diverse investor preferences, allowing for tailored investment strategies. - Educational Resources
The company’s dedication to client education ensures that investors are well-informed about their options, the market, and the intricacies of investing in precious metals. - Transparent Pricing
Blanchard Gold is known for competitive pricing and transparency. It provides clients with clear information about premiums and fees associated with their investments.
Considerations and Potential Drawbacks
While Blanchard Gold offers numerous benefits, it’s essential to consider potential drawbacks:
- Pricing Concerns
Some customers have raised concerns about the pricing of rare coins, alleging significant markups. Blanchard Gold has refuted these claims, stating that they have never exceeded a 50% markup on their rare coins.
- Customer Service
There have been mixed reviews regarding customer service, with some clients praising the company’s expertise and others expressing dissatisfaction with delivery and billing issues. Potential investors should verify the current market price to ensure the actual market value of the coins they are interested in before making a purchase.
- Storage Fees
As with all Gold IRAs, there are storage fees associated with holding physical metals. Clients should be aware of these costs and factor them into their investment decisions.
Blanchard Gold’s Approach to Managing a Gold IRA
Blanchard Gold takes a structured approach to setting up and managing Gold IRAs, guiding clients through IRS compliance, asset selection, and long-term management. Here’s how they handle the various aspects of managing a Gold IRA:
- IRS Compliance and Eligible Assets: Blanchard Gold ensures that clients understand IRS requirements for IRAs, such as only including metals with the required purity levels (0.995 for gold, 0.999 for silver, etc.). This prevents potential penalties for including ineligible assets and helps maintain the IRA’s tax-advantaged status.
- Dedicated Custodians and Secure Storage: Blanchard Gold collaborates with leading custodians, like GoldStar Trust Company, who specialize in self-directed IRAs. For secure storage, Blanchard’s partnerships with well-established depositories, including Delaware Depository and Brinks, offer clients peace of mind by ensuring their assets are stored safely in IRS-approved facilities.
- Transparency and Fee Structure: One of Blanchard Gold’s strengths lies in its transparent pricing. This means clients are fully informed of any premiums, administrative costs, and storage fees. These fees are critical to consider, as they impact the overall performance of a Gold IRA. Blanchard Gold provides an itemized breakdown, so clients can evaluate their investment’s true cost and potential return.
- Ongoing Account Management and Required Minimum Distributions (RMDs): Blanchard Gold offers ongoing support for Gold IRA account management, which is especially beneficial as clients approach the age of 72 and need to start taking RMDs. Blanchard Gold’s advisors work closely with clients to decide how best to meet these requirements, potentially by selling a portion of the metals or finding alternative solutions to comply with IRS mandates.
- Investment Strategy and Market Insights: Blanchard Gold frequently provides clients with insights on how global economic factors like inflation, currency changes, and geopolitical events might impact gold prices. By offering access to regular market analyses and research reports, Blanchard helps clients develop a more nuanced understanding of the precious metals market and how it interacts with broader economic trends.
Blanchard Gold’s Historical Significance in the Precious Metals Market
Blanchard Gold’s founder, James U. Blanchard III, played a pivotal role in the U.S. gold market. In the early 1970s, he advocated for the legalization of private gold ownership in the U.S., which had been restricted since the 1930s. Blanchard’s efforts helped pave the way for individual investors to own gold freely, making it an accessible asset for wealth preservation and portfolio diversification. This historical background positions Blanchard Gold not only as a company with deep industry roots but also as an institution that understands the importance of gold ownership for Americans.
Blanchard Reviews and Ratings on Different Platforms
Blanchard Gold, a well-established company in the precious metals industry, has received various reviews across multiple platforms. Here’s a detailed breakdown of their ratings and what these mean for potential customers:
Better Business Bureau (BBB) Rating
- Rating: A+
- Details: Blanchard Gold maintains an A+ rating with the BBB, indicating a high level of trustworthiness and commitment to resolving customer issues. The BBB rating reflects the company’s business practices and their interaction with customers over the years. This high standard suggests that Blanchard Gold is reliable in its business operations.
Google Reviews
- Rating: 4.9 out of 5 stars
- Feedback: The near-perfect rating on Google Reviews suggests that the majority of Blanchard Gold’s customers have had positive experiences. Customers often praise the quality of products and customer service, suggesting Blanchard Gold fulfills its promises and delivers a high level of customer satisfaction.
Trustlink
- Rating: 1 star
- Insight: The starkly low rating on Trustlink, based on only one review, indicates a particular customer’s dissatisfaction but does not provide a comprehensive view of the company. This rating should be interpreted with caution due to the limited data.
Yelp Reviews
- Rating: 2.5 out of 5 stars
- Analysis: On Yelp, Blanchard Gold has a moderate rating based on three reviews. The mixed reviews here highlight that some customers might have had less favorable experiences, particularly with aspects like pricing and customer support.
Findings from Customer Feedback
Positive Aspects
- Customer Service: Many reviews commend Blanchard Gold for excellent customer service, noting that staff are knowledgeable and helpful, which enhances the buying and selling experience.
- Product Quality: Positive reviews frequently mention the high quality of precious metals and rare coins offered by Blanchard Gold, aligning with the company’s reputation in the market.
Areas of Concern
- Pricing and Transparency: Some negative reviews point to concerns over pricing, where customers feel that they were charged excessively, especially for rare coins. Complaints about transparency suggest a need for clearer communication regarding pricing and fees.
Blanchard Gold has established a solid reputation in the precious metals market, supported by decades of experience and generally positive reviews. However, potential investors should be aware of the mixed feedback and varying experiences reported across different platforms. It is advisable for prospective clients to conduct thorough research, including direct inquiries with the company, to ensure that their investment needs align with the services Blanchard Gold offers. The discrepancy in reviews also underscores the importance of understanding all aspects of their service, including pricing and customer support, to make an informed decision.
For those considering Blanchard Gold, weighing the pros and cons of their services against other market competitors will help ensure a well-rounded decision that best suits their financial goals and needs.
Some Examples of Blanchard Gold Reviews and Feedback
#1. Unmatched service. Consultants who are knowledgeable and experts. We discretely deliver packages. Superior products in every way.
#2. As a business partner, Blanchard & Company is an excellent organization to work with. They are warm and welcoming, trustworthy, competent, and compassionate, and they are aware of how to assist their customers in achieving their objectives by assisting them in investing in gold and silver. The Blanchard & Company comes highly recommended from me.
#3. If there is a problem, dealing with this company is quite difficult. They initially sent me the incorrect order, and then they implied that I had stolen from them at some point. I exerted a great deal of effort in an effort to resolve the issue such that I could receive my correct order and return their other order. In the end, I was forced to submit a claim with my credit card company. This was the only way that the matter could be resolved.
I made numerous attempts to get them to provide me return shipping materials, but they refused to do so. They anticipated that I would mail it on my own dime, and I subsequently received a refund from my credit card provider rather than Blanchard. Never again will I have to interact with them.
#4. Blanchard is something that can be relied upon. That is reliable. Has been operating for a considerable amount of time. Friend of mine who had worked with Blanchard for a considerable amount of time suggested that I do business with him.
Advantages of Choosing Blanchard Gold for Gold IRAs
- Experience and Expertise: With nearly five decades in the precious metals industry, Blanchard Gold offers a level of experience and institutional knowledge that newer companies may lack. Their commitment to precious metals, along with their active role in educating the public on gold ownership, makes them a reputable choice.
- Client Education and Market Guidance: Blanchard Gold’s commitment to educating clients is a distinguishing factor. By providing access to in-depth resources, market insights, and personalized consultations, Blanchard empowers clients to make well-informed investment decisions tailored to their financial goals.
- Specialized Focus on IRA-Approved Metals: Blanchard Gold has developed a product line exclusively focused on IRA-eligible metals, making it easy for clients to choose products that meet IRS guidelines. This specialization helps clients avoid potential compliance issues and keeps their investments aligned with tax-advantaged regulations.
- Comprehensive Support for Long-Term Investors: Gold IRAs are often best suited for long-term investment strategies. Blanchard Gold’s emphasis on portfolio diversification, periodic market reassessment, and a strong focus on education aligns well with the needs of long-term investors.
Potential Drawbacks and Risks
While Blanchard Gold offers many advantages, potential clients should also be aware of some considerations and drawbacks:
- Pricing on Rare Coins: Some clients have noted higher markups on rare coins, a product that Blanchard Gold also offers in addition to IRA-eligible metals. Rare coins are not suitable for IRAs but are often marketed for collectors. Therefore, clients should differentiate between investment-grade IRA metals and collectible coins.
- Market Volatility and Economic Sensitivity: Gold’s value is historically more stable than paper assets, yet it is not completely insulated from market fluctuations. Economic conditions such as interest rate changes or periods of economic growth may temporarily affect the value of gold, and investors should prepare for possible short-term volatility.
- Storage and Custodian Fees: Like all Gold IRAs, a Blanchard Gold IRA incurs annual storage and custodian fees, which add to the overall cost of holding physical gold. These fees are essential for protecting assets but should be carefully considered in any investment plan.
Customer Experience and Testimonials
Blanchard Gold has received positive feedback from clients, particularly those who value the company’s educational approach and personalized support. Key points from client testimonials include:
- Knowledgeable Advisors: Clients appreciate the expertise of Blanchard Gold’s representatives, who take the time to understand individual financial goals and retirement plans. This personalized approach allows clients to feel more secure in their investment decisions.
- Smooth Transaction Process: The process of purchasing precious metals and setting up a Gold IRA is generally smooth and well-organized. Many clients report that the transition and setup are seamless, thanks to clear communication from Blanchard’s team.
- Reliable Storage Options: Blanchard Gold’s partnerships with respected depositories ensure that assets are stored securely and in compliance with IRS requirements. This reliability in storage is a crucial factor in the positive experience reported by many clients.
- Long-Term Value: Many long-term clients have highlighted the benefits of having a portion of their retirement in precious metals, noting the security it provides during times of economic stress. While some investments may have short-term gains, gold’s stable and consistent performance over time has proven valuable for many investors.
Blanchard Gold’s Educational Resources
Blanchard Gold has built a reputation for providing extensive educational resources, enabling clients to deepen their knowledge of the precious metals market. Resources available include:
- Precious Metals Investment Guides: Blanchard offers detailed guides explaining the basics of precious metals investing, including the historical role of gold, why it’s valuable, and how it functions as a hedge against inflation.
- Market Analysis Reports: Regular market updates and analyses help clients understand global economic trends and how they may impact the value of gold and other precious metals. These insights are especially useful for clients who want to stay informed about how broader economic conditions could influence their Gold IRA.
- Consultations with Financial Experts: For clients who want personalized advice, Blanchard offers one-on-one consultations with their financial experts, helping clients align their investment strategies with long-term financial goals.
Is Blanchard Gold Legit? Can You Trust Them?
Yes.
They are a legit gold dealer with many years of industry experience.
However, you should always do thorough research before doing business with any precious metals company.
Here are some tips on how to check the legal history of any gold IRA provider:
Tip #1: Check Their Regulatory Compliance and Accreditation
Check for proper licensing and registration with relevant financial regulatory bodies such as the Securities and Exchange Commission (SEC) or Financial Industry Regulatory Authority (FINRA).
Verify the company’s accreditation with industry organizations like the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC).
It will help you check how credible they are.
Tip #2: Look into The Company’s Background
- Research the company’s history, including years in business and any name changes.
- Examine the Better Business Bureau (BBB) rating and accreditation status.
- Review customer feedback on reputable third-party review sites like Trustpilot or Consumer Affairs.
Tip #3: Does the Company Offer Good Resources?
- Assess the clarity of information provided about fees, storage options, and buyback policies.
- Evaluate the quality and depth of educational resources offered to investors.
- Verify that the company provides clear information about IRS regulations regarding precious metals IRAs.
Tip #4: What are Their Product Offerings and Pricing?
- Ensure the company offers IRS-approved precious metals for IRA investments.
- Compare pricing with other reputable dealers to ensure competitiveness.
- Be wary of companies pushing numismatic or collectible coins over bullion for IRA investments.
Tip #5: Confirm the Storage and Custodian Partnerships
Verify that the company works with IRS-approved custodians and secure storage facilities. According to IRS’ regulations, you cannot store your gold IRA’s precious metals at your home.
You’ll need a certified third-party storage provider.
Check the company’s storage and custodian partner to ensure you’re working with a reliable firm. Moreover, ensure they offer segregated storage options for your precious metals.
Segregated storage means your owned precious metals products will be stored separately from other investors’ possessions. Similarly, non-segregated storage means your products will be stored along with others.
Keep in mind that storage providers charge extra for segregated storage.
Some popular custodians include Equity Trust and Goldstar Trust.
Red Flags to Watch For in Gold IRA Companies
- Promises of guaranteed returns or claims of “secret” investment strategies.
- Pressure to act immediately or make large investments without proper consideration.
- Lack of physical address or unclear company ownership structure.
- Unwillingness to provide detailed information about fees or policies in writing.
By thoroughly evaluating these aspects, investors can make an informed decision about the legitimacy and reliability of a gold IRA company. It’s crucial to conduct due diligence and, if necessary, consult with a financial advisor before making any investment decisions.
Comparing Blanchard Gold to Other Precious Metals IRA Providers
When evaluating precious metals IRA providers, there are several factors where Blanchard Gold stands out:
- Reputation and Longevity: Blanchard Gold’s longstanding presence in the market, along with its historical role in advocating for private gold ownership, makes it a trustworthy choice. This background gives clients confidence in their decision to work with an experienced, reputable provider.
- Focus on Client Education: Blanchard’s dedication to client education is a significant advantage. Their in-depth resources, market insights, and personalized consultations are valuable tools for first-time and seasoned investors alike.
- Customer Support: Blanchard Gold has a reputation for responsive and helpful customer service. However, as with any company, some clients have reported varying experiences, and potential investors are encouraged to reach out and gauge customer support firsthand.
- Fee Transparency: Compared to some competitors, Blanchard Gold emphasizes transparent pricing, providing clients with clear, itemized fee structures. However, clients should also compare fees with other providers to ensure they are receiving a competitive rate.
Gold IRA Performance and Long-Term Strategy
Gold IRAs are often most effective as a component of a diversified portfolio. Here are strategies for optimizing a Gold IRA with Blanchard Gold:
- Diversification Across Precious Metals: While gold is a primary focus, adding other metals like silver, platinum, and palladium can further diversify a portfolio. Blanchard Gold offers products across these categories, allowing clients to create a balanced mix within their IRA.
- Holding for Long-Term Stability: Gold IRAs are generally not suited for short-term trading. Instead, they provide a hedge against inflation and market downturns over a longer horizon. Blanchard Gold’s advisors encourage a long-term mindset, helping clients manage expectations and focus on stability rather than rapid gains.
- Regular Portfolio Reviews: Blanchard Gold supports clients in reviewing their portfolios periodically. This allows investors to adjust holdings based on changes in the economy or in personal financial situations. Blanchard’s insights on global economic shifts can be especially valuable in making informed adjustments.
- Gold’s Role as a Safe-Haven Asset: Gold is known for maintaining value during times of economic crisis. This quality makes it an appealing asset for retirement, as it can provide reassurance to investors during uncertain periods.
Setting Up a Gold IRA with Blanchard Gold
Blanchard Gold makes the process of setting up a Gold IRA straightforward, with dedicated support to guide investors through each step. Here’s a comprehensive look at the setup process:
- Initial Consultation and Goal Assessment
Blanchard’s advisors begin by discussing the investor’s financial objectives, retirement timeline, and risk tolerance. This consultation helps determine if a Gold IRA aligns with the investor’s goals, such as protecting against inflation, diversifying assets, or seeking a safe haven during economic downturns. - Choosing a Custodian
Since IRS regulations require that IRA assets, including precious metals, be held by an approved custodian, Blanchard Gold has partnerships with reputable custodians who specialize in self-directed IRAs, including GoldStar Trust Company. Custodians handle administrative aspects of the IRA, ensuring compliance with IRS rules. - Funding the IRA
Once a custodian is selected, the next step is to fund the IRA. Funding options include:- Direct Contributions: Clients can contribute new funds to their Gold IRA, up to annual IRS contribution limits.
- Transfers: Investors may transfer funds from an existing IRA to the new self-directed IRA without incurring tax penalties.
- Rollovers: Assets can also be rolled over from other retirement accounts, such as 401(k)s or 403(b)s. This process is typically tax-free when done within IRS guidelines.
- Selecting Precious Metals
After funding the account, clients work with Blanchard advisors to select eligible precious metals. Blanchard Gold ensures that clients choose assets that meet IRS purity standards for inclusion in IRAs, such as gold coins with .995 fineness or higher and silver coins with .999 purity. Common choices include American Gold Eagles, Canadian Maple Leafs, and various bars. - Arranging Secure Storage
The IRS requires that precious metals within IRAs be stored in approved depositories. Blanchard Gold arranges for storage through trusted facilities, such as the Delaware Depository and Brinks, which offer state-of-the-art security, insurance coverage, and compliance with IRS guidelines. - Ongoing Account Management
Blanchard Gold provides ongoing support for account management, including assistance with Required Minimum Distributions (RMDs) once clients reach age 72. Their advisors work with clients to determine how best to meet these requirements, either by liquidating part of their holdings or through other financial arrangements that comply with tax rules.
Portfolio Management Strategies for a Blanchard Gold IRA
Investors working with Blanchard Gold for a Gold IRA can benefit from various strategies to manage and maximize their retirement investment:
- Regular Portfolio Review and Rebalancing
Market conditions, economic factors, and personal financial goals can change over time. Blanchard Gold encourages clients to review their Gold IRA periodically. Rebalancing can involve adjusting the mix of metals or considering additional investments to better align with the investor’s long-term goals. - Monitoring Economic Trends and Adjusting Holdings
Blanchard Gold’s market reports and economic insights provide clients with updates on trends affecting precious metals prices. Investors can use this information to make informed decisions, such as increasing holdings during periods of economic uncertainty or diversifying with other metals like silver or platinum. - Diversifying Across Metals
Blanchard Gold offers IRA-approved gold, silver, platinum, and palladium products. By holding a mix of metals, investors can further mitigate risk, as different metals respond uniquely to market pressures. For example, platinum is often influenced by industrial demand, while gold typically acts as a safe-haven asset. - Long-Term Holding Approach
Gold IRAs are generally not suited for quick turnover. Instead, they’re most effective as part of a long-term wealth preservation strategy. Blanchard Gold encourages clients to maintain a longer view, recognizing that gold and precious metals often hold or appreciate in value over extended periods, especially during times of inflation or market volatility.
Blanchard Gold Review: Conclusion
Blanchard Gold stands out as a leading precious metals IRA provider, with a strong legacy in the gold market and a reputation for customer-centric services.
A Gold IRA with Blanchard Gold is well-suited for investors who value long-term stability and diversification. Gold and other precious metals provide a hedge against inflation and economic volatility, making them an excellent choice for individuals looking to protect their retirement assets.
However, prospective investors should carefully assess Blanchard’s fee structure, and storage costs, and consult with Blanchard’s advisors to ensure that a Gold IRA fits within their broader retirement and investment strategies. While Blanchard Gold has established itself as a top choice for precious metals IRAs, each investor’s unique financial situation and goals will determine the suitability of a Gold IRA.
