Delving into the realm of precious metals investment requires careful consideration and informed decision-making. In this comprehensive review, we explore Blanchard Gold, also known as Blanchard and Company, Inc., a venerable bullion dealer based in New Orleans with a rich history dating back to 1975.
With an examination of their background, leadership team, product offerings, fees, and customer feedback, we aim to provide you with valuable insights to help you navigate your investment journey in the world of precious metals.
What is Blanchard Gold?
Blanchard Gold aka Blanchard and Company, Inc is a precious metals dealer based in New Orleans. Their headquarters is located at 909 Poydras Street, Suite 1900 New Orleans, LA 70112.
Founded in 1975 by James U. Blanchard III, the company is one of the most experienced bullion dealers in the industry. It played a huge role in making gold ownership legal for individual citizens.
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Since its legalization, Blanchard Gold has been an influential firm in the industry.
They have achieved some great feats in their 40+ years of business. For example, they were one of the only two bullion dealers to get a hold of the excavated Spanish Treasure of 1715.
Although the company is highly prominent and popular, they don’t have much to offer in terms of precious metals IRAs. Their product selection mainly consists of rare and collectable coins. The bullion dealer puts a lot of emphasis on client education and provides consumers with tons of free resources.
Blanchard is a family-owned business and claims to specialize in customer research and relationships.
People Behind Blanchard Gold
Donald W. Doyle, Jr. (Chairman)
Mr Doyle Jr. has been the Chairman, CEO and sole shareholder of Blanchard and Company, Inc. since October 1991. He bought the company from Allegiance Capital Partners in 1991.
Before the acquisition, he was the company’s CEO.
From 1993 to 1995, Mr Doyle Jr. was the Chairman of the Industry Council for Tangible Assets. He has also served in the US Marine Corps and has been in Vietnam.
Donald W. Doyle, Jr. has a J.D. from Tulane University Law School. He was a prominent member of an organization which advocated for legislation that allows people to hold gold in their IRAs.
David Beahm (President and CEO)
David Beahm joined Blanchard Gold as Director of Marketing and Client Information. Afterwards, he became the Secretary of the Board of Directors and has now become the company’s CEO.
As the CEO, Mr Beahm focuses on strategy, innovation and leadership. Mr Beahm is responsible for the company’s branding and overall reputation in the industry.
The Blanchard CEO is a thought leader in the precious metals industry. His work has been featured in many notable publications including Wall Street Journal and the New York Times.
Mr. Beahm earned his MBA from Ellis College in New York and is a graduate of the University of New Orleans.
Debbie Cash (Chief Financial Officer)
Debbie Cash has a Bachelor of Science from the University of New Orleans and is a Certified Public Accountant. She began her career in 1978 with KPMG and has come a long way since then.
Debbie joined Blanchard and Company in 1985 as the controller and became the firm’s Chief Financial Officer in 2003.
Moreover, she is a member of the American Institute of Certified Public Accountants.
L. Craig Baudot (Executive VP of Sales)
Mr. Baudot joined Blanchard Gold as a Portfolio Manager in 1986. Through his dedication and work, he was able to get promoted and become a Sales Manager in 1991.
Afterwards, he became the firm’s Executive Vice President of Sales in 2001 and has been at the position since.
How to Open a Precious Metals IRA with Blanchard Gold
While Blanchard Gold is a prominent firm in precious metals, its product selection doesn’t have many IRA-eligible products.
A limited product selection can hinder your portfolio’s effectiveness and diversification.
However, if you’re interested in opening a gold IRA with Blanchard and Company, you can do so by following the following 3 steps:
Step #1:
First, you would need ot get in touch with the company. Blanchard Gold has partnered with GoldStar Trust Company to set up precious metals IRAs.
Once you get in touch with the firm, they would help you fill out the necessary paperwork and applications.
Step #2:
After submitting the required paperwork, you can start adding funds to a self-directed IRA. You can do this by either adding funds directly or rollover funds from an existing IRA.
The representatives at GoldStar Trust Company will assist you in the process.
Step #3:
Once you have added funds to your new self-directed IRA, you can start adding your desired precious metals to it.
Keep in mind that you would only be able to add IRA-eligible products available in Blanchard’s collection.
It’s always best to go with a precious metals IRA provider which offers you a vast product selection.
Blanchard Gold Products
While Blanchard Gold offers an extensive selection of rare and collectable coins, its range of IRA-eligible products is relatively limited.
This restriction can pose challenges for investors seeking diverse options for their Individual Retirement Accounts, potentially hindering the effectiveness of their portfolios.
Here’s a more detailed overview of their products:
Gold IRA Products:
For those interested in adding gold coins to their IRAs, Blanchard and Company offer the following options:
- American Gold Buffalo
- Australian Gold Kangaroo
- American Gold Eagle
- Canadian Gold Maple Leaf
- Austrian Gold Philharmonic
Also, they offer 1 oz gold bars and 1kg gold bars for precious metals IRAs. The presence of popular bullion coins such as American Gold Buffalo and Austrian Philharmonic certainly enhances their collection even if it’s small.
Silver IRA Products:
The selection of silver IRA products is much smaller in comparison to their gold selection. Here, you only get to choose from the IRA-eligible products:
- Austrian Silver Philharmonic Coin
- 10 oz Silver Bars
- 100 oz Silver Bars
That’s it.
Apart from these silver products, you can find American Platinum Eagle coins in their collection for IRAs.
There are no palladium IRA products as well, which can be a huge downside for many investors. Palladium is an increasingly popular precious metal as it enables investors to make their portfolios more risk-averse and diverse.
Non-IRA Products:
While their catalogue might not be great for IRA investors, it is excellent for those who like investing in collectible and rare coins.
Rare coins are not eligible for IRAs because the IRS views them as collectibles (such as fine art). Regardless, they can be a good fit for your personal investments.
However, investing in rare and non-IRA coins requires a lot of research. Hence, be sure to read up on them before investing your hard-earned money into them.
Some of the rare coins you can find in their collection include:
- Half Dimes
- Small Cents
- Half Eagles
- Eagles
- Two Cents
- Nickels
And plenty more.
Again, I must emphasize that you should be extremely cautious when investing in rare coins.
Blanchard Gold Fees and Cost
Blanchard Gold share a shipping cost of $23 for orders of $299 or below.
For gold IRA fees, you would need to look at the fee structure of their custodial partner.
GoldStar Trust Company charges a one-time set-up fee of $25 and a transaction fee of $40 on every purchase or sale from your IRA.
Similarly, there’s an annual administrative fee of 0.8% of your assets’ total fair market value. It can go as high as $250 and the minimum fee is $50.
| Initial Setup Fee | $25 |
| Annual Administrative Fee | 0.8% of your assets’ fair market value ($50 min. and $250 max) |
| Annual Storage Fee | 1% of your assets’ fair market value ($40 min.) |
Additional Highlights of Blanchard Gold
Apart from having over 45 years of industry experience, there are plenty of qualities which make Blanchard Gold stand out from its competition. Here are those highlights:
Buyback Program:
A notable quality of Blanchard Gold is its buyback program. According to the company, their customers can get a quote for both bullion or rare coins from the firm.
Then, the firm will perform a physical inspection of the products. On the other hand, if a customer wants to sell back investment-grade gold to the company, they can contact the firm directly for a quote and start the process.
Buyback programs give customers access to quick liquidity which is why they are quite popular among investors.
Free Resources:
Blanchard Gold has put in a lot of effort in client education. Its leadership consists of many industry experts whose work has been featured in numerous publications.
However, the company’s own collection of free resources is highly impressive. You will find charts, guides and the latest news about the precious metals industry on their website.
Their guides provide an excellent starting point for any beginner while the charts allow you to get daily updates on the prices of gold, silver, platinum and palladium.
The company has provided several helpful resources on sales tax and other crucial topics.
Blanchard Gold Reviews and Complaints
Blanchard Gold’s online reputation presents a mixed picture.
While the company has an A+ rating from BBB, it has received a few negative reviews, primarily concerning sales tactics and the risks associated with investing in rare coins.
The limited number of reviews raises concerns among potential investors.
However, their customer rating is 1 out of 5 stars based on 3 reviews.
On BCA, the company has received a BBB rating, an average rating for the platform. There are no reviews or complaints against Blanchard Gold there.
Similarly, they have received 3 reviews on Yelp and their average customer rating on that platform is 2.5 out of 5 stars.
Most complaints against Blanchard Gold are about the sales tactics of the firm and how rare coins are extremely risky investments.
For example, this user shares that the company claims to buy back products but they only do so if they have a buyer lined up.
Is Blanchard Gold Legit?
Pros:
- Over 45 years of experience
- Large collection of free resources
- Experienced leadership
Cons:
- Limited selection of IRA-eligible products
Yes, Blanchard Gold is a legitimate precious metals dealer.
Blanchard Gold is one of the oldest bullion dealers in the industry. Their leadership consists of thought leaders and is highly specialized. Furthermore, the company has a vast collection of rare and collectible coins for consumers.
They provide consumers with many free resources including charts, guides and the latest insights.
Opening a precious metals IRA can help you safeguard your wealth against inflation and an economic downturn. However, the gold IRA provider you choose will impact your returns and overall experience.
That’s why I recommend checking out multiple gold IRA providers before choosing one. This way, you can get an idea of what the industry has to offer and what you can expect from it.
Also, it’s helpful to consult a retirement advisor before making such decisions.
You can learn about the best gold IRA companies of this year on IRAEmpire.
Have you dealt with Blanchard Gold before? How was your experience? Let us know below!