Blanchard & Company, Inc.

In response to [redacted] Complaint:  The accusations of [redacted] are simply not true.  Blanchard did not and has never sold a product with a 100% markup nor a 50% mark up. Our clients receive a sales confirmation on each sale with our risk and disclosures, which addresses...

the mark up for awareness. The “nationally known coin dealer” he referenced was simply trying to purchase a rare coin - of which there are less than a handful that are known – at a steep discount by suggesting he grossly overpaid. By trying to take advantage of [redacted] the coin deal was simply looking to buy the coin for a cheap as he could while dragging Blanchard, who has been in business for over 40 years and has helped over 450,000 clients, through the mud.  The coin referenced in the complaint and in the email exchange between [redacted] and Blanchard, was purchase from a Blanchard client in a private sale.  There would be no way for [redacted]
[redacted] or the “national-known coin dealer” to know what Blanchard bought the coin for.  In 40 years, Blanchard has only sold two of these coins.  Prior to [redacted] buying this coin in 2010, another one of our clients had held the coin since 1999.  That being said, the coin in question – 1866 $20 - is a great coin and we would be willing to offer a full refund to [redacted]

Aggressive pushy salesmanship.

30-40% markup on numismatic coins. Not honest about price of coins.

Review: Some time ago, I attempted to purchase gold coins from Blanchard and Company, Inc. I gave the salesman a shipping address, and he wrote it down, but then shipped the coins to a different address, resulting in a several week delay of my even finding out that the coins had been returned to the Blanchard company in New Orleans. At that point, I discussed the matter with the salesman, who immediately repeated the correct shipping addres to me, but said that he had had the coins shipped to a different address because of company policy. Much later, on one of many phone calls, he told me that an email clearly stated that the coins were going to be shipped to this alternate address. The email that he referred to was an email from him *to the banker that handled the wire transfer of funds*, and a copy was sent to me. That email stated NOTHING about his decision to ship the coins to the wrong address, and even if it had, the email was ostensibly only about the wire transfer to Blanchard's bank, not about the shipping address. Again much later (now we are 2 weeks later) he did email to me a "ship-to" form, which he at that late date told me had to be printed (I don't have a printer) and notarized (involving going to a bank again, I would suppose) and then mailed back to him at the New Orleans office before the coins could be delivered. Unfortunately, the coins no longer exist. Let me explain. I ordered 40 coins of a certain value, and now 40 coins no longer hold that value, or anything close to it. If I somehow could manage to get 40 coins delivered to me accurately now, they would be worth very little compared to the money taken from me through the wire transfer. I have asked that the coins be returned to stock, and that my money be refunded (wire transferred back into my account at Chase Bank). They refuse.Desired Settlement: I require that the money which was wire-transferred to Blanchard simply be wire-transferred back into my account, and the coins returned to stock.

Business

Response: