The best, most archival, and richest black inkjet printer are the Epson pigment printers using the the K3 Ultrachrome inks, which come in either matte or glossy black, plus a light black, plus six colors to back them up and add density. I think the $50 Harrington Quadtone RIP is better than the Epson driver for B&W, you get complete control. Zero metarism too.
Unfortunately the smallest current printer that uses this technology is the Epson R2880, which is a $500 13x19 inch printer. The inks are pretty expensive too. The newer Epson R3000 is $650, same size, uses larger cartridges and prints a little finer using a smaller ink drop size. Then it's the 3880 for 17x22, etc. They get more expensive and larger but the ink cost goes down with size and capacity as you go up the product chain.
Nothing says you can't use Third-party inks, or a Canon, HP, or even the Epson R1400 printers ($200) to make decent prints but it's good to know what the best is.
If you want to save a few bucks, the image quality from the prior K3 Ultrachrome printers, when used with the Harrington RIP, is still superior. Look for a used or refurb Epson 2400 for $200, get the RIP and a bunch of ink and go at it.
If you use the newer Baryta papers, like Harman By Hahnemuhle Gloss Baryta Inkjet Paper, they are really nice and can fool many photographers into thinking they are darkroom prints.
Like Bob said, you have to know how to adjust your images, hit a black and white point, have some decent imaging chops.