Scott R. Hillford
Author & Founder Gold Is Money 2
Disclaimer: Some or all of the companies reported here may provide compensation to us, at no cost to our readers. This is how we keep our reporting free for readers. Compensation and detailed analysis are what determines how companies appear on this website.
Investment strategies show that buying precious metals and starting a gold IRA diversifies investment portfolios and offers safer choices.
Adding precious metals to an investment portfolio increases its value and protects against riskier options such as buying stocks.
Prior reading further, it is important to acknowledge that investing your savings is a not easy. When it comes to incorporating precious metals into your investment portfolio, how can you tell which companies are reliable?
After devoting extensive time and effort, we have conducted thorough research within the precious metals industry and compiled a selection of the most trustworthy companies.
Take a moment to read our list and determine if Blanchard Gold has what it takes to make the list this year!
This lets you to quickly compare the leading companies in this field and select the one that aligns with your specific requirements and investment objectives.
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About Blanchard Gold
While many investors haven’t bought precious metals before, today’s market prices show why it’s a great time to start. Before an investor purchases precious metals, they must find a trusted gold company.
Since it is an endeavor that requires careful planning, investors can read more about Blanchard Gold and determine if the gold seller is the best choice.
Company History and Ratings
Blanchard Gold opened its doors in 1975 in New Orleans, Louisiana. The company offers precious metals at its physical location and online.
They became accredited with the Better Business Bureau in 1982 and have maintained a 4.53-star rating. Most customer reviews on the BBB website are positive, and there aren’t any legal complaints against Blanchard Gold.
Blanchard Gold’s Product Inventory
Blanchard Gold offers various gold, silver, and platinum products, including coins, bullion, and bars.
Their gold selections include American Gold Eagles, Gold Buffalos, British Gold Sovereign, 20 Franc, Swiss Gold 20 Franc, Australian Gold Kangaroos, Canadian Maple Leaf, South African Gold Krugerrand, and Austrian Philharmonic.
Their silver choices include American Silver Eagle, one-ounce Austrian Silver Philharmonic, Canadian Silver Maple Leaf, and American Buffalo. They also offer platinum choices, including Canadian Maple Leaf, and American Eagles.
Buying Precious Metals
To buy precious metals from Blanchard Gold, browse their inventory by clicking on the tab for the preferred metal on the navigation bar. Under each tab is a complete page of coins, bars, and bullion. Next to each product is a list and a button to add the product in the preferred quantity to the online shopping cart.
If purchasing precious metals online, customers add all the products they want to their shopping cart after signing up for a user account. At the checkout, customers choose their preferred payment method and shipping options.
They can later store these details in their account to speed up their precious metals purchases. The company ships the precious metals once Blanchard Gold receives the total payment.
Select precious metals don’t have a listed price, and customers must call a customer representative to get a price quote. Customers can call and place an order with a customer representative or visit the company’s physical property if they are local to New Orleans. Any purchases over $100,000 require phone orders and payment via wire transfer.
All shipments arrive in discreet packaging to prevent outsiders from knowing what is inside the parcel. In addition, Blanchard Gold provides insurance coverage for shipments and completes a claim if the precious metals are lost, stolen, or damaged during transport.
Market Loss and Cancellation
Customers must commit to buying from Blanchard Gold to start an order, and if, for any reason, the Blanchard Gold customer cancels their order or experience payment failures, there are fees.
In addition, if Blanchard Gold incurs a market loss because of a cancellation, the customer must pay the difference. For example, if the market price decreases, Blanchard Group recoups its financial losses from the client after a failed payment or order cancellation.
Requesting a price lock is the same as a commitment to buy the precious metals and pay Blanchard Gold. Customers should understand these requirements and commit to the purchase if they are ready to follow through.
Sell Your Precious Metals
Contact a customer service representative to sell precious metals through a buyback opportunity to get a price quote. Please provide a complete list of all precious metals, their current condition, and the quantity to get a price quote.
While most customers receive the total amount quoted to them, if the precious metals don’t pass the inspection, Blanchard Gold adjusts the price or returns the shipment to the customer.
Understanding Mark-Ups and Profits
Like other gold companies, Blanchard Gold does add a markup on their precious metals products. The difference between the market price and their listed prices shows what percentage they apply. When buying precious metals, calculating this markup and comparing it to Blanchard Gold’s prices helps investors avoid excessively inflated prices.
Investors won’t receive the exact market price when selling their metals through a buyback. However, careful accounting helps determine if Blanchard Group offers a fair price compared to other gold providers.
When shipping items to Blanchard Gold, customers must add a document with their physical address, name, and contact information. The document should list everything inside the package. In addition, there’s a shipping address for Blanchard Gold for all buyback orders on their website.
Customers should use discreet packaging for their precious metals and get insurance coverage for these shipments. After the precious metals arrive, they undergo an inspection, and then Blanchard Gold sends the payment according to the customer’s preferences.
Set Up an IRA
All investors who want to open a precious metals IRA through Blanchard Gold can start by hiring a custodian. An IRS-approved custodian manages the entire process. They create all documents and file paperwork to open the IRA. Customers must pay service fees to their custodians, but Blanchard Gold has minimal costs for creating the account.
Next, the investor chooses to use expendable capital they have or transfer funds from an existing IRA. Clients can transfer funds from any existing IRA, whether an employer-matched 401(k) or a ROTH IRA account they created through a service provider. The custodian contacts the IRA provider and files documents to transfer or roll over the funds into the new account.
Once the funds are accessible, investors request a price quote from Blanchard Gold for all precious metals they want for their IRA. Then, the custodian releases the funds to Blanchard Gold to pay for the precious metals. Before the customer transfers any funds or purchases precious metals, they must calculate their total contributions for the year minus the funds they are transferring.
According to IRS regulations and guidelines, the investor’s age defines how much they can contribute to all IRAs annually. For example, if they are under 59, the investor can access up to $6,000 to contribute to all IRAs yearly, and investors 60 or older can contribute up to $7,000. The custodian tracks investment contributions for the account holder to help avoid costly mistakes.
Storage and Custodians
As of 2023, Blanchard Gold doesn’t have a preferred custodian or depository. Instead, investors can hire custodians and set up storage through an IRS-approved depository. Careful planning helps investors ensure they have the capital for their IRA investment.
They face custodian fees, management and maintenance expenses, and storage costs. Working with an IRS-approved custodian helps them generate adequate funds for these endeavors.
Add More Precious Metals Over Time
Blanchard Gold offers many IRS-approved products for IRAs, and the investor’s custodian can set up new purchases later to add to the precious metals IRA. The custodian ensures the investor complies with the IRS regulations.
There aren’t restrictions on what precious metals they add to their IRA, and they can diversify their investment portfolio further by adding platinum and silver to a gold IRA. Careful planning can help investors add enough value to their gold IRA to sustain their preferred lifestyle during their golden years.
Since precious metals aren’t impacted by inflation or the value of the US dollar, they could sustain a more profound lifestyle and even travel more during retirement. Creating a gold IRA earlier could help investors save more for retirement, and a gold IRA could provide a safer and risk-free investment choice.
Setting Up Distributions from the IRA
After the investor reaches 65, they contact their custodian to set up distributions from the gold IRA. How much they receive each year determines their tax implications. Wise investors don’t liquidate the entire IRA at once and save on taxes.
Working with their custodian can help investors plan these distributions without high tax penalties. Since the IRA funds are tax-deferred, the investor must pay taxes based on the total distributions they receive each tax year.
Investors aren’t restricted to transferring IRA funds to pay for precious metals included in a gold IRA. Because there aren’t limitations or restrictions, they could use their post-tax income to buy precious metals and reduce tax implications later.
Estate Planning Advice for Gold IRA Owners
Estate planning helps investors protect their gold IRA if they don’t use the entire account during retirement. They have several options to safeguard their investment.
First, they can set up an inherited IRA for their heirs, and their heir can roll over the remaining balance of the gold IRA into the new account. First, however, the investor must choose a beneficiary and set up the distributions through their estate plan.
Heirs must remember that if they fail to receive distributions within five years, the custodian has no choice but to liquidate the entire gold IRA. Under the circumstances, the heirs must pay the tax implications for the total balance of the IRA, and these tax implications could prove costly if the IRA’s value is on the high end of the spectrum.
Their alternative action for the gold IRA is to transfer it out of their estate and into a trust. Moving the gold IRA out of the estate decreases the total estate value. Once the IRA is no longer part of the estate, heirs don’t have to worry about losing the funds through probate.
The estate owner chooses a successor for the trust who uses the gold IRA and all assets included in the trust after the owner dies. With a trust, family members avoid inheritance taxes and lower their overall tax implications when taking over the estate and receiving their inheritance.
In addition, since a gold IRA increases in value and isn’t affected by inflation, a transfer into a trust gives heirs a more significant source of financial support over time.
Resources for Investors
Investors find information under the “Resources” tab, including a complete list of US National Mints, growth portfolio advice, a glossary of precious metals terminology, and an FAQ section for Blanchard Gold. At the bottom of the tab, visitors can sign up for the Blanchard Gold newsletter to get updates about the company and its products, and they may receive a discount for their first order.
The “Rare Coins” tab offers customers a complete inventory of rare coins to review and advice on building coin sets. As a result, coin sets could provide a higher resell value for investors and collectors.
In addition, under the tab is information about coin grading and classification to help customers make sound decisions about their rare coin investments.
On the Blanchard Gold website, visitors find news articles and updates about the precious metals market. They can find valuable information to help them invest and avoid mistakes. Blanchard Gold updates the articles to keep visitors well-informed about new investments and trends in the market.
Gold Price Charts
Gold price charts are helpful for buyers and sellers, and they can review the updated charts to track the price of their precious metals. Then, when a customer is ready to sell their precious metals or liquidate an IRA, these price charts help investors ensure they receive a fair and reasonable price. The price charts are updated according to the most recent market data released by the NASDAQ.
Under the “Why Invest” tab, visitors find Blanchard Gold’s investment guide, which helps investors get started and learn more about diversifying their investments and getting the greatest return.
They’ll also find customer reviews and recommendations for the company. Reviewing these details helps first-time investors determine how to get started and read about precious metals recommendations.
Blanchard Gold buys and sells precious metals, and the company has a steady history of high ratings and is accredited by the Better Business Bureau. They sell products online, in-person, and via phone, but customers must call to inquire about pricing for select products and cannot complete fast orders every time.
The company offers a vast inventory of precious metals products, including bullion, bars, and coins, and there are many positive reviews about the gold seller on the BBB.
Overall, they seem like a sound choice, but investors should compare the company’s products, prices, and services to other gold companies before committing to a Blanchard Gold purchase.
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