- Report: #713833
Complaint Review: Blanchard and Company, Inc.
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| Blanchard and Company, Inc. 909 Poydras Street
New Orleans, Louisiana United States of America |
|
Blanchard and Company, Inc. Blanchard Gold Coins Beware high gold coin prices. New Orleans, Louisiana
*General Comment: Satisfied customer
*UPDATE Employee: From Blanchard and Company, Inc.
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Blanchard charged me a premium over spot of $136 for each Liberty Head Double Eagle $20 VF random date when spot was $850 on May 1, 2008. That's a huge 16% premium, much more than the fairdealing competition's prevalent average of 6% to 7% at that time.
Yes, I was new to the gold coin market and, yes, I believe Blanchard took full advantage of my ignorance. The salesman asked, "Have you ever purchased gold coins before?". To which I answered, "No". I was lazy in believing that such a competitive market would keep prices roughly equal among competitors. I was wrong. I wrote several letters of complaint to Blanchard's management hierarchy from the top down, but they never responded.
I will never deal with Blanchard again. I made subsequent online purchases from Tulving, APMEX, and Gainesville Coin, and I have no complaints with those firms' prices and performance.
I have noticed that Blanchard now, 3 years after my dealings with them, appears to offer online webstore purchasing for some of their coins at fixed prices quoted on their webstore page. However, the fine print I've seen throughout their website states that your order is not complete until Blanchard calls you back to "confirm" your order and "lock in" your price. I would exercise extreme caution during that call-back against the possibility of attempts to change the webstore prices or "up-selling" to other higher priced "investment grade" coins.
Yes, I was new to the gold coin market and, yes, I believe Blanchard took full advantage of my ignorance. The salesman asked, "Have you ever purchased gold coins before?". To which I answered, "No". I was lazy in believing that such a competitive market would keep prices roughly equal among competitors. I was wrong. I wrote several letters of complaint to Blanchard's management hierarchy from the top down, but they never responded.
I will never deal with Blanchard again. I made subsequent online purchases from Tulving, APMEX, and Gainesville Coin, and I have no complaints with those firms' prices and performance.
I have noticed that Blanchard now, 3 years after my dealings with them, appears to offer online webstore purchasing for some of their coins at fixed prices quoted on their webstore page. However, the fine print I've seen throughout their website states that your order is not complete until Blanchard calls you back to "confirm" your order and "lock in" your price. I would exercise extreme caution during that call-back against the possibility of attempts to change the webstore prices or "up-selling" to other higher priced "investment grade" coins.
This report was posted on Ripoff Report on 04/04/2011 06:23 PM and is a permanent record located here: http://www.ripoffreport.com/r/Blanchard-and-Company-Inc/New-Orleans-Louisiana-70112/Blanchard-and-Company-Inc-Blanchard-Gold-Coins-Beware-high-gold-coin-prices-New-Orleans-713833. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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Search Tips#1 General Comment
Satisfied customer
AUTHOR: Scott - (United States of America)
SUBMITTED: Friday, September 07, 2012
I came across this site after recommending Blanchard and Company to a friend of mine and having him send me this complaint. Because I have invested close to 7 figures with Blanchard, and have had a 15 year, extremely positive relationship with this company, I felt compelled to offer my experiences. First of all, Blanchard and Company is not the absolute "cheapest" in the industry. However, they are not the most expensive either. I have been purchasing precious metals for over 15 years, and have done business with about 6 of the major companies out there.
It has been my experience that Blanchard is, by far, the best company to do business with. Their professionalism, prompt attention to my needs, and portfolio recommendations have been outstanding. Their willingness and capacity to liquidate metals when I have needed to, has been one of the key reasons why I continue to use them above the competition. I have never been misled, misguided, or lied to.
I have always been treated with respect and honestly feel as though the company has my best interest at heart. I have actually formed a friendship with my Account Executive, to the point of us knowing the names of each others' children. I am of the firm belief that you get what you pay for. I am happy to pay a small premium over the competition to have the peace of mind of dealing with a reputable company that charges fair prices for their high-quality products, and that has the ability to buy my metals back at a moment's notice. I have recommended many of my friends and family to Blanchard and will continue to do so.
It has been my experience that Blanchard is, by far, the best company to do business with. Their professionalism, prompt attention to my needs, and portfolio recommendations have been outstanding. Their willingness and capacity to liquidate metals when I have needed to, has been one of the key reasons why I continue to use them above the competition. I have never been misled, misguided, or lied to.
I have always been treated with respect and honestly feel as though the company has my best interest at heart. I have actually formed a friendship with my Account Executive, to the point of us knowing the names of each others' children. I am of the firm belief that you get what you pay for. I am happy to pay a small premium over the competition to have the peace of mind of dealing with a reputable company that charges fair prices for their high-quality products, and that has the ability to buy my metals back at a moment's notice. I have recommended many of my friends and family to Blanchard and will continue to do so.
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What's this? #2 UPDATE Employee
From Blanchard and Company, Inc.
AUTHOR: David Beahm - (United States of America)
SUBMITTED: Tuesday, April 05, 2011
Dear Burned,
I am sorry that you did not have a pleasurable experience with our company. I can assure you that our number one concern is customer satisfaction.
Since I do not know the specific details of your order, other than what you provided, the only thing I can conclude is that the coins you purchased from Blanchard are now up over 55% since you purchased the coins. Not bad for a 3 year hold.
As for the lack of response from upper management, I am not sure what happened and I apologize for that.
If you would like to discuss your situation or additional concerns, please do not hesitate to call me directly - 800-880-4653.
Sincerely,
David Beahm
I am sorry that you did not have a pleasurable experience with our company. I can assure you that our number one concern is customer satisfaction.
Since I do not know the specific details of your order, other than what you provided, the only thing I can conclude is that the coins you purchased from Blanchard are now up over 55% since you purchased the coins. Not bad for a 3 year hold.
As for the lack of response from upper management, I am not sure what happened and I apologize for that.
If you would like to discuss your situation or additional concerns, please do not hesitate to call me directly - 800-880-4653.
Sincerely,
David Beahm
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