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Report: #1468286

Complaint Review: Blanchard and Company, Inc - New Orleans Louisiana

  • Submitted:
  • Updated:
  • Reported By: Bob — Miami Florida United States
  • Blanchard and Company, Inc 909 Poydras Street, Suite 1900 New Orleans, Louisiana United States

Blanchard and Company, Inc Blanchard Gold BLANCHARD AND COMPANY INC. OVERVALUE THEIR COINS -- DON'T BUY New Orleans Louisiana

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In the 1990's,  I purchased fifteen coins from Blanchard and Company, Inc. based on their claims that the coins would greatly increase in value over time.  I interacted with 3 different account managers on multiple occasions, all of whom took advantage of my inexperience in rare coins and intentionally misrepresented the growth potential, while consistently overcharging me for the items I purchased.  

Although this experience took place over 20 years ago, it continues to cause me great emotional distress, given that I entrusted several thousand dollars of my savings to these supposed professionals who turned out to be opportunistic, scam-artists. Indeed, I have only just discovered that the values of nearly all of the coins, as listed in the Numismatic Guaranty Corporation (NGC) and Professional Coin Grading Service (PCGS) price guides, are a mere fraction of Blanchard's original sales price. 

At the time of purchase, the account managers represented that gains of 20% were expected for these coins. In reality, after 20 years, I am lucky if the coins are valued at 20% of the purchase prices I paid for them!  In other words, instead of a 20% gain, I ended up with coins that are worth 80% LESS than what I paid for them! 

This report was posted on Ripoff Report on 11/27/2018 04:34 PM and is a permanent record located here: https://www.ripoffreport.com/reports/blanchard-and-company-inc/new-orleans-louisiana-70112/blanchard-and-company-inc-blanchard-gold-blanchard-and-company-inc-overvalue-their-coin-1468286. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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