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April 5, 2022

Miles Franklin 2022 Review: Just Another Precious Metals Dealer?

Welcome to my 2022 Miles Franklin Review!

Are you interested in buying or investing in precious metals?

So, are you looking for a premier precious metals dealer?

If so, let's get to know Miles Franklin!

Are they able to live up to their motto of becoming a premier precious metals dealer?

2022 Miles Franklin

Summary Review

  • Name: Miles Franklin
  • Website: https://www.milesfranklin.com/
  • Founder: David and Andrew Schectman
  • Cash Minimum: Not Indicated
  • IRA Minimum: Not Indicated
  • Fees: Not Indicated
  • Rating: 3.7/5.0
Miles Franklin Review

What is Miles Franklin?

Miles Franklin Review

Miles Franklin was founded by David and Andrew Schectman in 1989.

Unlike traditional coin dealers, Miles Franklin is both a full-service company and a low overhead discount broker.

They are a precious metals investment firm and assist clients in establishing Precious Metals IRAs. The company is located in Wayzata, Minnesota.

More so, their inventory includes gold, silver, platinum, and palladium coins and bars. For retirement savers, there is an excellent selection of IRA-approved bullion products.

Products of Miles Franklin

Here are some of the products that Miles Franklin offers:

Gold Products

Miles Franklin Review
Miles Franklin Review

1 Kilo Gold Bar - various mints

This is one of the lowest premium ways to hold gold. More so, this bar is minted by various London Bullion Manufacturing Association suppliers these gold bars weigh 32.15 oz and they are also the largest standard size bar commonly traded.

  • Composition: .9999 Fine
  • Packaging: N/A
  • Manufacturer: ISO 9000 Mints
  • Metal Content: 32.15 Troy Ounce
  • Denomination: N/A
  • IRA Eligibility: Yes

1 Ounce Gold American Eagle Back Dated

On the other hand, this is the premier gold bullion coin of the United States and the world. More so, since its inception by the act of Congress in 1986, it has been one of the most popular bullion coins in the world.

  • Composition: 0.9167 gold
  • Packaging: Tubes of 20 coins
  • Manufacturer: US Mint
  • Metal Content: 1 Troy Ounce
  • Denomination: $50
  • IRA Eligibility: Yes

$20 Liberty Gold Eagle XF

In February 1849, Congress passed the Gold Dollar Bill, which authorized the U.S. Mint to begin coining $20 gold coins. Because the coin was worth twice as much as the gold eagle, this new coin became known as the double eagle, America’s largest circulating gold coin.

  • Composition: .900 Fine
  • Designer: James B. Longacre
  • Diameter: 34 Millimeters
  • Manufacturer: United States Mint
  • Metal Content: .9675 Troy Ounces
  • Denomination: $20
  • IRA Eligibility: No

 Silver Products

Miles Franklin Review
Miles Franklin Review

1 Ounce Silver Australia Dragon Coin 2020

On the other hand, the second coin in this series of Perth Mint's rectangular coins, the Dragon Coin is sure to be an uncommon addition to any collection. Furthermore, this Australian Sovereign coin contains 1 troy ounce of .9999 fine silver and has a face value of $1 (AUS).

  • Composition: .999 Fine
  • Packaging: Tubes of 20 rectangular coins
  • Manufacturer: Perth Mint
  • Metal Content: 1 Troy Ounce
  • Denomination: $1
  • IRA Eligibility: Yes

100 Ounce Silver Bar - Asahi Refining

Furthermore, Asahi Refining bought the holdings of the Johnson-Mathey Refining operations. As a matter of fact, this 100-ounce silver bar contains one hundred ounces of .999 fine silver; the poured bar is stamped with the logo of the Asahai LLC company, and the purity mark.

  • Composition: .999 Fine
  • Packaging: N/A
  • Manufacturer: Asahi Refining
  • Metal Content: 100 Troy Ounces
  • Denomination: N/A
  • IRA Eligibility: Yes

1 Kilo Silver Cast Bar - PAMP

Furthermore, this bar is expertly cast in Switzerland, each PAMP Kilogram Ounce Silver bar (32.15 troy ounces) comes packed in a protective plastic sleeve and housed in a "monster box" containing fifteen bars. More so, every bar is individually serialized and includes a unique assay certificate guaranteeing its weight and purity.

  • Composition: .999 Fine
  • Packaging:Plastic Sleeve / Monster Box
  • Manufacturer: PAMP SA
  • Metal Content: 32.15 Troy Ounces
  • Denomination: N/A
  • IRA Eligibility: Yes

Platinum Products

Miles Franklin Review

1 Ounce Platinum Bar

Furthermore, several private mints produce one-ounce platinum ingots, PAMP SA, and Credit Suisse to name several. Also, they typically contain one ounce of .9995 fine platinum and are stamped with the weight, purity, and makers mark.

  • Composition: .9995 Fine
  • Packaging: Assay Card
  • Manufacturer: ISO 9000 Mints
  • Metal Content: 1 Troy Ounce
  • Denomination: N/A
  • IRA Eligibility: No

1/10 Ounce Platinum Bar

The one-tenth-ounce platinum bar will be minted by various private mints, Baird being one of the most prominent. More so, this bar will contain one-tenth of an ounce of .9995 platinum, be stamped with the weight, purity, and makers mark. Also, it may or may not be packaged in an anti-counterfeit, tamper-evident blister pack.

  • Composition: .9995 Fine
  • Packaging: Assay Card
  • Manufacturer: ISO9000 Mints
  • Metal Content: .1 Troy Ounce
  • Denomination: N/A
  • IRA Eligibility: No

Numismatic Gold

Aside from the aforementioned precious metals, Miles Franklin also offers numismatic gold:

$20 Liberty Gold Eagle XF

In February 1849, Congress passed the Gold Dollar Bill, which authorized the U.S. Mint to begin coining $20 gold coins. Because the coin was worth twice as much as the gold eagle, this new coin became known as the double eagle, America’s largest circulating gold coin.

  • Composition: .900 Fine
  • Designer: James B. Longacre
  • Diameter: 34 Millimeters
  • Manufacturer: United States Mint
  • Metal Content: .9675 Troy Ounces
  • Denomination: $20
  • IRA Eligibility: No

$20 Saint-Gaudens Gold Double Eagle NGC

The Saint-Gaudens Double Eagles each contain .9675 ounces of gold and are composed of 90% gold and 10% copper by weight. More so, certified authentic NGC graded coins are available in various years and grades from MS-62 up.

  • Composition: .900 Fine
  • Designer: Augustus Saint-Gaudens
  • Diameter: 34 Millimeters
  • Manufacturer: United States Mint
  • Metal Content: .9675 Troy Ounces
  • Denomination: $20
  • IRA Eligibility: No

Services by Miles Franklin

Storage

Miles Franklin offers two international storage programs for precious metals. These are:

  1. Montreal, Quebec
  2. Vancouver, British Columbia

More so, Brink’s Canada Limited is a subsidiary of Brink’s, Incorporated, which was founded in 1859 in Chicago, Illinois, and has since grown into one of the world’s largest secure logistics companies. Furthermore, Brink’s serves customers in more than 100 countries, offering armored car transport, money processing, and precious metal storage among other services.

Swiss Investments- BFI Consulting

More so, Miles Franklin has had a long-standing partnership with BFI Consulting in Switzerland so our clients may diversify and invest internationally. If you want to set up an offshore nest egg that is safe, convenient, and compliant, ONE Trust is a BFI solution you should check out before anything else, according to Miles Franklin.

Precious Metal IRAs

Furthermore, Diversifying your retirement portfolio with precious metals can be an insurance policy against such events as inflation, deflation, downturns in the stock market, the US dollar and unforeseen other financial events. However, precious metals often yield large profits in these kinds of circumstances.

Events

Throughout the year Miles Franklin attends financial conferences and international events as an exhibitor. More so, these events bring together the most prominent experts in the financial industry. Also, President Andy Schectman is often invited to share his insight about current economic situations and the precious metals market as a speaker.

Selling to Miles Franklin

Here are the steps to selling to Miles Franklin:

1. Call their Trading Department at 1-800-822-8080 and get their current prices.

2. Securely package your items. 

3. When your shipment is received by their warehouse your payment will typically be sent within 3-5 business days.

Reviews and Ratings of Miles Franklin

Here are some of the reviews and ratings of Miles Franklin:

Miles Franklin Review
Miles Franklin Review

What I Like About Miles Franklin


No Maximum or Minimum Orders

Miles Franklin does not have a minimum order size.

On the other hand, there are no maximum orders.

However, they may request a deposit on very large orders before we can accept the order and confirm pricing.

A Lot of Payment Options

Payment must be provided using:

  • Bank Wire
  • Certified check
  • Cashier’s check
  • Money order
  • Personal check

They hold all certified, cashier’s, and personal checks for 7 business days. Wire transfers are the recommended form of payment because they allow funds to reach your account as quickly as possible. When an order is placed, we will provide you with our bank wire instructions. It will contain all of the information your bank or brokerage will need.

What I Don't Like About Miles Franklin


Not an E-commerce Website

Unlike other precious metals dealers, they tend to be traditional with the method of ordering that they implement.

You need to call them when you need to order and about the prices of their products.

The company does not put prices on its website.

Is Miles Franklin a SCAM?

No, Miles Franklin is NOT A SCAM.

They have been in the industry for many decades. They also have decent ratings on a trusted website like BBB.

So, they are not a scam.

However, they tend to implement a traditional method of precious metals investment.

But overall, the company is a good company that you can trust.

Final Thoughts

When it comes to investing money, we should be careful and as much as possible, and create thorough research.

It is very important to carefully consider the different precious metals companies available, before making any purchases as part of your IRA investment strategy.

We should always consider their overall reputation, bullion prices, policies, practices, and many more.

That's why when it comes to precious metals investment, I recommend GOLDCO.

Goldco is a leader in the precious metals industry, with over a decade of experience helping customers protect their retirement savings. If you have an IRA, 401(k), 403(b), TSP, savings, or similar tax-advantaged retirement account, a Goldco Specialist can help you protect those assets with a Precious Metals IRA.

Click here to know more about them:

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