- Report: #713833
Report - Rebuttal - Arbitrate
Complaint Review: Blanchard and Company, Inc.
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
*Consumer Comment: Collection Values Vary Greatly between Asks and Bids
*Consumer Comment: No Details to contradict original complain
*General Comment: Satisfied customer
*UPDATE Employee: From Blanchard and Company, Inc.
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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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