Miles Franklin Precious Metals Review

Miles Franklin Precious Metals Review

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Miles Franklin is a precious metals merchant established in 1989. The company's primary focus is on providing precious metals to investors as a means of hedging against market volatility. David and Andrew Schectman are the founders of the business.

In contrast to conventional precious metals dealers, Miles Franklin acts as a service provider and a bargain broker with low operating costs.

To provide superior service, the organization believes that fair pricing, adequate client education and friendly staff should all work together.

  • Products: Precious Metals
  • Owner: Andy Schectman
  • Rating: 4.0/5

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Important Details About This Company:

  • Over 1,000+ 5 star ratings online
  • They protect over $1 BILLION dollars in retirement savings
  • AAA customer rated
  • A+ BBB Rating
  • 5x Inc 500 winner
  • 2021 company of the year

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    Or continue below with this review

    About Miles Franklin Precious Metals

    Miles Franklin Precious Metals Review

    Miles Franklin Background Information

    Andrew Schectman and David Schectman founded Miles Franklin. Their mission was to provide a full variety of precious metal items backed by knowledgeable broker assistance and competitive prices.

    The services offered by Miles Franklin are unlike any others: In case you haven't heard, they have the most out-there corporate name ever. They provide both full service and low-cost alternatives to traditional brokers.

    The company focuses on developing customized assets made of precious metals as an innovative means of boosting revenue. Since 1989, Miles Franklin has successfully used this method for his customers all around the United States.

    Their Wayzata, Minnesota branch is their original, but they have just opened a Delray Beach, Florida, outpost as well.

    The Company Philosophy

    On its website, Miles Franklin claims a set of qualities it employs as a cornerstone.

    Honesty, standing, reputation, expertise, service, wares, contacts and resources.

    As a whole, they reveal the inspiration for the guiding principles of the Miles Franklin enterprise.

    Miles Franklin Custodian and Storage

    Miles Franklin Precious Metals Review

    Your name and account number are displayed on the box and your precious metals are stored in a secure, segregated area. When looking for a great storage solution, transparency is crucial.

    Mile's Franklin is mindful of this fact, so customers are welcome to deliver, pick up, or leave their Silver, Gold, Platinum, or Palladium anytime. In all likelihood, you may sell your possessions and get payment in a few days.

    Precious metals purchased from Miles Franklin may be securely stored at Brinks in a private, climate-controlled vault. Salt Lake City, Miami, New York, Vancouver, Los Angeles and Toronto are just a few cities offering a wide range of options for accommodation.

    New Direction Trust Company has contracted Miles Franklin to handle its custodial needs.

    How Does Miles Franklin Operate?

    Unfortunately, Miles Franklin does not enable its consumers to conduct business online, unlike other organizations. However, they have a website and you can discover some information about their services and rules.

    If you have any questions regarding their products or want to make an order, you can reach them at 1-800-822-8080 or 1-952-929-7006.

    You may contact them by phone or email and they will answer any inquiries you have. They will handle the situation and address your issues when you contact them.

    In What Way Is Shipping Handled?

    UPS or the US Postal Service sends all packages. In addition to requiring a signature upon delivery, they insure each package at no additional cost to you.

    Free domestic shipping and insurance are included with every purchase of 10 ounces of gold, platinum, or palladium. Orders of 500 ounces of silver or more include free domestic shipping and insurance.

    If your total order price is less than $150, shipping and insurance will cost you around $15.

    Contacting a broker for extra international shipping issues is highly suggested if you have any questions or need more information on the shipment.

    Miles Franklin Products and Services

    Miles Franklin Precious Metals Review

    Miles Franklin deals in silver, gold, palladium and platinum in the form of bars and coins. It also offers gold substitutes and other precious metals that may be held in an IRA.

    The company helps its customers sell products and is looking to buy their precious metals. The custodial and warehousing services of Miles Franklin are also available to clients.

    New Direction Trust Company is in charge of the custodial duties.

    Some of the most popular products offered are:

    • Gold American Buffalo one ounce
    • Pamp Suisse one-ounce Platinum bar
    • Royal Canadian Mint one-ounce Platinum Maple Leaf
    • Royal Canadian Gold Mint one ounce
    • Gold Australian Kangaroo one ounce

    Miles Franklin Precious Metals IRA Info

    Investing in precious metals via an IRA is possible through various options provided by Miles Franklin. There are flat costs included in the variable yearly price. They have teamed up with Brinks, a supplier of secure storage vaults and New Direction Trust Company, an independent provider of custody services.

    They have been in business since 1989 and carry precious metals including silver, gold, palladium and platinum.

    With New Direction IRA, Miles Franklin provides clients easy and fast methods for opening self-directed individual retirement accounts (IRAs). As a result of the company's efforts, the following are streamlined for customers:

    • Money can be moved from existing retirement accounts.
    • Transfer funds or make deposits online.
    • You can use your self-directed IRA to buy and sell precious metals.
    • Collect your precious metals and deposit them in a secure location.
    • Your gold and silver holdings are available around-the-clock.

    Creating an account is a quick and easy process. However, you can always contact Miles Franklin for assistance if you have trouble registering online.

    Miles Franklin Management Team

    In 1989, father and son duo David Schectman and Andy Schectman founded the band, Miles Franklin. Andy is the company's owner and president, while David is the chief executive officer.

    Is Miles Franklin a Scam?

    Miles Franklin Precious Metals Review

    This whole Miles Franklin business is not a scam. Undoubtedly, it is a legitimate company selling first-rate goods and services.

    In addition, it has been around for quite some time. The company's lack of customer ratings and reviews makes it difficult for customers to purchase on the web, where most of its sales occur.

    To be clear, you are under no obligation to cooperate with Miles Franklin in any way whatsoever.

    Private Safe Deposit Boxes

    Most buyers are worried about the security of their precious metals after placing an order.

    Miles Franklin fully appreciates these concerns and has made substantial investments in cutting-edge bulletproof technology to safeguard your gold, silver, or other precious metals. For such an occasion, individual safety deposit boxes are recommended.

    One of the most secure places to keep valuables is in a private safety deposit box. Personal safety deposit boxes are typically linked to an existing bank account but do not include insurance.

    On the other hand, Miles Franklin offers private safety deposit boxes that are both secure and insured. The vaults can only be accessed by authorized personnel and are situated in a highly secure area of one of the world's most secure nations.

    Customers of Miles Franklin can store their purchased precious metals (silver, gold, or platinum) in a secure, fireproof safe. That means nobody, but you can access your precious metals while in storage.

    Procedure for Setting Up an Account with Miles Franklin

    • To sign up: You first need to create an account with the company, either online or by filling out some paperwork and bringing it to their physical location.
    • Make a deposit: The next thing to do is to put money into your IRA that you will manage yourself. There are several ways to pay for items from Miles Franklin. Depending on your preferences, one of the following two options may be more or less suitable for you.
    • After the money has been deposited into your IRA account, you can instruct your Miles Franklin broker to purchase the precious metals of your choosing.
    • Permission to transfer funds from your New Direction IRA to your Miles Franklin IRA.
    • They will ship precious metals to your chosen depository or storage company as soon as the funds are received from the self-directed IRA.

    Pros & Cons of Miles Franklin Precious Metals


    • An Extensive Selection of Rare Coins and Precious Metals.
    • The company's silver and gold goods are highly sought after and approved for use in IRA accounts.
    • Outstanding attention to the needs of customers.
    • Positive feedback from satisfied customers.
    • Highly dependable and trustworthy.


    • Customer feedback is scarce on the web.
    • There is no mention of pricing on the company's website.
    • The inability to place an online order.

    Key Takeaway

    Miles Franklin is a trustworthy trader of precious metals. It has been in operation for almost 30 years, demonstrating a commitment to success in the precious metals sector.

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