Miles Franklin Precious Metals Review: Your Trusted Guide to Investing?

Navigating the precious metals market requires a trustworthy partner—Is Miles Franklin that dealer? This no-nonsense Miles Franklin precious metals review examines their three-decade track record, customer service, and the authenticity of their gold, silver, and platinum offerings, to help you decide if they fit your investment strategy.

Key Takeaways

Miles Franklin Overview

Miles Franklin logo on a storefront

Founded in 1989 by the father-son duo, David and Andrew Schectman, Miles Franklin started with a mission to prioritize customer service and education. The Schectmans believed that precious metals represented wealth rather than just an investment – a philosophy that continues to shape the company’s ethos. Today, Miles Franklin has amassed over $9 billion in sales and maintains an A+ Better Business Bureau rating, demonstrating its strong market presence and the trust it has earned from its customers.

The company’s commitment to customer service isn’t limited to managing orders attentively; it also involves providing a wealth of educational resources. Reports, articles, Q&A sessions – all available at no charge, ensuring that Miles Franklin customers are well-informed and confident in their investment decisions.

With over three decades in the business, Miles Franklin Ltd has built a reputation as a reliable investment partner for a diverse range of clients. Whether you’re a seasoned investor or a novice dipping your toes into the world of precious metals, Miles Franklin works with you, guiding you every step of the way.

Precious Metals Offered

Assortment of gold, silver, and platinum bars and coins

The variety of precious metals offered by a dealer plays a significant role when selecting one. Miles Franklin doesn’t disappoint in this regard, providing a selection of gold, silver, and platinum for investment. These aren’t just any metals, though. Every piece of precious metal you invest in through Miles Franklin comes with a guarantee of purity and authenticity. This assurance not only provides peace of mind but also ensures the value of your investment.

In addition to its wide range of offerings, Miles Franklin offers:

This unique status underscores the company’s trustworthiness and adds another layer of security and flexibility to your investment strategy.

Pricing and Purchase Process

Miles Franklin, a reputable precious metals dealer, has a unique approach to providing pricing for precious metals products when compared to other precious metals dealers. Instead of online ordering, customers must call the company directly. This might seem inconvenient in the digital age, but it ensures that each order is handled with personal attention and care. For those considering this option, it’s essential to check out a franklin precious metals review to get a better understanding of their services.

Once a trade is agreed upon, a confirmation process kicks in. Customers receive a confirmation from Miles Franklin, which must be reviewed and confirmed within 72 hours. This process is designed to ensure order accuracy, minimizing the potential for mistakes or misunderstandings.

Miles Franklin strives to offer accurate pricing consistently. However, they retain the right to rectify prices on orders if inaccuracies occur due to technical glitches. This policy underscores the company’s commitment to fair pricing. However, it’s important to note that orders constitute a firm commitment from the customer, and if they’re unable to complete the purchase, they may incur a liability towards Miles Franklin.

Precious Metals IRA Services

Person filling out an online IRA application form

If you’re aiming to diversify your retirement savings, Miles Franklin collaborates with New Direction Trust Company to help clients establish precious metals IRAs for investing in precious metals. The process is made easy with a quick online application that typically takes less than 15 minutes. However, if you prefer more personalized assistance, you can also call Miles Franklin directly.

Funding a self-directed IRA with New Direction Trust Company is quite flexible. You can make contributions, transfer funds from existing retirement accounts, or roll over funds. Once funded, the company supports clients with coordinating and executing transactions to invest in precious metals, with customer support readily available for those who need assistance.

Beyond helping you set up and manage your IRA, New Direction Trust Company also offers a digital client portal that simplifies the management of your investment portfolio. They also provide valuable educational resources, including webinars, to help you understand self-directed IRAs and formulate effective investment strategies.

Storage Solutions

Secure storage facility with safety deposit boxes

After acquiring your precious metals, determining where to store them is the next step. Miles Franklin has you covered with a variety of storage options, thanks to their partnership with Brink’s Canada, a leading provider of secure logistics. Whether you’re investing through an IRA or purchasing precious metals directly, you can store them in IRS-approved facilities provided through the partnership with Brink’s.

For those seeking extra security, Miles Franklin offers a Private Safe Deposit Box program at Brink’s Toronto and Vancouver facilities. This program is geared towards investors who wish to store gold and platinum securely, with a monthly minimum storage fee starting at $39.00 and a one-time $99 setup fee.

If you prefer fully segregated storage, you’re in luck. Brink’s facilities located in:

offer this option. With transparent storage rates that include insurance, Miles Franklin ensures you know exactly what you’re paying for and where your precious metals are stored.

Fees and Charges

Investing in precious metals can be beneficial, but understanding the related costs is equally essential, especially when looking to store precious metals. Miles Franklin, one of the leading precious metals companies, strives to keep these costs as low as possible, maintaining competitive precious metals prices and limiting the number of associated fees to ensure a cost-effective service for clients. To help you get started, they offer a free gold investing kit.

Some of the fees you can expect include a future purchase fee of $139.00, an in-person appointment fee of $65.00, and a withdrawal fee of $40.00. These charges are in addition to storage fees, which include a monthly minimum of $39.00 and a one-time setup cost of $89.00. However, the setup fee is waived for purchases over $15,000.

As with any investment, it’s crucial to understand all associated fees before committing. By keeping their fee structure transparent and competitive, Miles Franklin ensures that clients can make informed decisions about their precious metals investments.

Selling Your Precious Metals

If you ever decide to sell your precious metals, Miles Franklin offers an uncomplicated procedure for it. Here’s how it works:

  1. Contact the company to initiate the selling process.

  2. Package your metals securely for delivery.

  3. Once the metals are received by Miles Franklin, the settlement process begins.

  4. The settlement process typically takes between 2 to 7 business days.

During the settlement process, Miles Franklin ensures that clients deliver the agreed-upon precious metals products. Payments are then made to sellers, usually within three to five business days following the sale of the precious metals. Sellers can opt to receive their payment through checks for free or wire transfers, which come with a $25 fee.

However, it’s essential to note that if you’re unable to fulfill the sale of precious metals, Miles Franklin may initiate a Trade Liquidation, potentially leading to a net balance owed to the company. They also have provisions to address a Delivery Default, where precious metals or currency are not delivered within 10 days.

Customer Support and Satisfaction

Friendly customer support representative assisting a client

Miles Franklin, a service company, is dedicated to customer service, highlighted by their team of seasoned brokers, each boasting an average of 30 years of industry experience. This wealth of knowledge ensures that clients receive personalized solutions tailored to their individual needs.

In addition to their experienced brokers, Miles Franklin also boasts an attentive customer support team that ensures accessible service and order management from start to finish. This commitment to customer satisfaction has yielded positive results, with many customers sharing experiences of trust, consistent and safe transactions, and competitive pricing through their low overhead discount broker services.

Despite the predominantly positive feedback, Miles Franklin isn’t without its share of customer complaints. While these are relatively few, they are worth noting as part of a balanced review. However, the company’s A+ rating with the Better Business Bureau and a record free from material customer complaints over three decades speak volumes about their commitment to customer satisfaction].

Pros and Cons of Investing with Miles Franklin

Having explored the different facets of investing with Miles Franklin, it’s time to evaluate the advantages and disadvantages. On the positive side, Miles Franklin is widely recognized as a reliable dealer in the precious metals industry. With over three decades of experience, they bring a wealth of knowledge and expertise to the table.

However, there are a few drawbacks. One significant disadvantage is the lack of online purchasing and pricing information. In today’s digital age, this can be a major inconvenience for clients who are accustomed to conducting transactions online.

Another point to note is that despite their reputable track record, Miles Franklin is not specifically recommended for gold investments or IRAs. Therefore, if these are your primary areas of interest, it might be worth exploring other dealers in the precious metals industry.


In conclusion, Miles Franklin presents a solid choice for investors looking to delve into the world of precious metals. With their long-standing reputation, extensive range of offerings, and commitment to customer service, they offer a reliable platform for your investment journey. However, the lack of online purchasing and specific recommendations for gold investments or IRAs may pose a disadvantage for some. Ultimately, the decision rests on your individual needs and investment goals. Remember, in the world of precious metals, knowledge is your most precious asset!

Frequently Asked Questions

Is Miles Franklin a reputable company?

Yes, Miles Franklin is a reputable company with an A-plus rating from the Better Business Bureau and no material customer complaints.

Who owns Miles Franklin?

Miles Franklin is owned by Andy Schectman and his father, who founded the company in 1989 with a focus on customer service and education in precious metals.

What is the average rate of return on precious metals?

The average rate of return for gold over the past century has been around 4.5% to 7.78%, but it can vary significantly from year to year.

How was Miles Franklin established?

Miles Franklin was established in 1989 by David and Andrew Schectman with a focus on customer service and education, providing a strong foundation for their business.

What precious metals does Miles Franklin offer?

Miles Franklin offers gold, silver, and platinum precious metals for investment purposes.