Way back when the price of gold was in the $600 per ounce range, I purchased five
22 Karat Gold American Eagles from Blanchard
and Company, one of the oldest and most respected gold dealers in the US and the world. I'm a relatively small gold investor so this was one
of the largest purchases I have made in gold bullion coins. As a result, I carefully researched my purchase and decided to buy from Blanchard
instead of their competitors for a variety of reasons. The topic of today's article is my thought process in deciding to buy gold from
Blanchard and Company and my personal experience ordering bullion from them.
©iStockphoto.com – JerryPDX
Why I Decided To Buy From Blanchard?
When I started investigating my gold purchase, I noticed that there are many options when buying gold bullion coins. Following are the
primary reasons I decided to go with Blanchard and Company instead of their competitors:
- It's very important to buy gold from reputable gold
dealers. Rather than turn to a no name shop, I went straight for the largest name in gold. Blanchard is well known and respected. This
gave me peace of mind. I don't need to worry about the authenticity of my gold purchase with Blanchard. They invented the industry.
- 5 Gold coins is a large purchase for me but not in the grand scheme of things. Some of Blanchard's main competitors require a higher
minimum purchase. There is no way I wanted to buy more than five coins. Blanchard was a perfect fit because they give all of their
customers great service, even with "smaller" bullion orders.
- Blanchard has a great website. Their site is very clean, visually appealing, and offers
concise yet insightful articles and information about investing in gold bullion and numismatics. Some of the competitors have more confusing
websites. I was at home when I first found the Blanchard website and it helped sell me.
You Get Your Own Dedicated Salesperson
At this point, I decided to go for it and give Blanchard a call to place my order. I was already sold. Here's what has sold me for life:
You get assigned your own salesperson who is dedicated to your account. When you make your first purchase with Blanchard, you will
meet your salesperson. They will answer all of your questions and "hold your hand" through your gold purchases. I find this level
of personal attention rare in today's world as more and more businesses reduce costs and try to automate sales. Blanchard has invested in
the human side of things. You're spending a lot of money in your gold investment, why not go with the dealer that goes the extra length to
provide you personalized service? What really blows me away is I'm a relatively small investor (I ordered 5 gold coins) and I still
got my own rep.
Placing My Gold Bullion Order
Ordering gold bullion coins your first time can seem intimidating. Don't worry, It's really easy and fun. Once you are on the phone
with your rep, you let them know your order. They will quote you a price which is the
spot price of gold plus a premium equaling the dealer's profit and also the price
over spot it cost to mint the coins. Once you accept the price, you are locked in and are making a verbal contract to hold your end of the
bargain and pay for the bullion you agreed to. At this point, all you have to do is give them your shipping address and mail them a check
with your payment.
Receiving Your Gold Bullion Shipment
Once Blanchard receives your check, they will deposit it and wait 10 days or so for it to settle. Gold is a very valuable asset and they
only ship the gold once they are confident the check is legit and will not bounce. This is very standard in ordering gold. After 10 days
or so, your order will ship and your rep will give you a call to let you know the status of your order (again, great personal service).
They are absolute pros in packaging your gold. They will place it in a small box that is taped shut like no
box you have seen before. It's hard to get the box open when you receive it but that's a good thing. Bullion is shipped via USPS
certified and insured mail, the best and safest way to mail valuables. When you open your box, it will contain your invoice and the
coins in a small pouch labeled with the Blanchard logo. Within the pouch are the coins each individually wrapped in nice plastic holder
that also contains a small card with the Blanchard logo. This makes storage very easy. Once you have received your coins and enjoy their
luster and weight, make sure to go straight to your
safe deposit box. You don't want several thousand
dollars worth of gold sitting unprotected! Another tip: You will be excited about your purchase but keep it a secret. You don't want others
to know about your personal finances and gold wealth.
My Personal Review and Experience With Blanchard and Company
I was very happy with my purchase and level of service. Next time I'm looking to buy a larger order of gold bullion coins, I will
definitely go back to Blanchard. The 2006 Gold American Eagles I bought
arrived in absolutely perfect condition. I really like the storage pouch and plastic sleeves protecting the coins. Also, I like that I
have an invoice from Blanchard that proves I bought the coins there. Should I ever want to sell my coins, there will be no doubt about
their authenticity and value.
A few closing points and tips:
Overall, I had a very good experience and I recommend Blanchard as a proven and honest gold bullion and numismatics dealer.
- During my own purchase, I was presented with two options for my Gold Eagles. I could buy Eagles from the
present year in factory new condition. Or, for a slight discount, I could get Eagles of various dates. I highly recommend buying
coins from the current year. They will arrive in mint quality and only cost a very small premium over the various dates option. The
various dates option could be coins bought by Blanchard from collectors meaning they will not always be in mint condition.
- As another tip, I requested that I receive no promotional mail from Blanchard. They have honored my request and I really appreciate it.
Even though I store all of my gold in my safe deposit box, I don't want people to know I'm doing business with Blanchard. If I'm getting
mail, it clues others in that I have a relationship with Blanchard. The easy solution is to request no promotional mail from them.
- Last item to note is that there will be a paper record of your purchase. One of the big benefits of going to your local coin dealer is
that you can pay cash and have no record of your purchase at all. Considering this versus all of the above benefits, the paper trail is not
a big deal in my opinion. I'm willing to live with the paper trail but I know some investors are not so it's worth pointing this out.
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