Miles Franklin Review (Updated December 2025)

First-hand insights, verified research, and everything you need before working with this dealer.

I have personally spoken to multiple people who purchased from Miles Franklin, I reviewed their IRA process step by step, and I even contacted their team directly to test how transparent and knowledgeable they really are.

What you are about to read is not a rewritten press release or a copied description from another site. This is a clean, honest, first-hand review of Miles Franklin as it operates today in 2025.

If you are thinking about buying gold, silver, or opening a precious metals IRA, you need the truth, not hype, not fear, and definitely not the confusing sales talk that some firms use.

My goal with this Miles Franklin review is simple. I want you to know exactly what this company does well, what it needs to improve, how it compares to other gold ira companies, and whether it is a safe place for your retirement savings.

Lets get into it.

Quick Summary of Miles Franklin

• Name: Miles Franklin
• Founded: 1989
• Founders: David and Andy Schectman
• Headquarters: Wayzata, Minnesota
• Minimum Investment: None
• Online Ordering: No
• IRA Partner: New Direction IRA
• Overall Rating: 3 out of 5
• BBB Rating: A+, accredited since 2009
• Years in Business: 30 plus

What Is Miles Franklin & What Makes Them Different

Miles Franklin is a full service precious metals firm that sells physical gold, silver, platinum, and palladium.

They also help clients start a self directed gold IRA. What makes them stand out is the fact that they operate like a discount broker, meaning they keep overhead low and focus on competitive metal pricing instead of expensive marketing campaigns.

When I personally called them, the experience felt different from the large national firms.

You do not get a script based call. You talk to someone who actually knows the metals market. They take their time answering questions.

They ask you what you are trying to accomplish instead of pushing you toward collectibles. This alone puts them ahead of many smaller dealers who rely on high pressure tactics.

Miles Franklin sells both bullion and numismatic coins.

For retirement planning, bullion is almost always the better choice because IRS rules only allow certain products and you want liquidity when doing an IRA rollover.

For collectors, their numismatic inventory is solid, but new investors should always understand the difference before purchasing.

If you are new to gold IRAs, you may want to read a gold IRA guide first so you know exactly what to expect.

First Hand Look at Their Management Team

One of the reasons people trust Miles Franklin is because the founders are still actively involved. Andy Schectman runs operations, finance, and strategy.

He is very hands on. He listens to customer concerns. And he is known for honoring deals even when the market moves against the company.

I heard this directly from a customer who told me that Andy personally made things right after a payment delay caused confusion.

That level of accountability is rare in the precious metals industry.

David Schectman, the CEO, trained hundreds of brokers and has been involved in precious metals since the early days.

You can tell when speaking with their team that the company culture is built around service and reliability. This is not a quick start up or a firm created during the pandemic. They have been doing this for decades.

Miles Franklin Products, What They Actually Offer

Miles Franklin offers a wide range of gold, silver, platinum, and palladium products from major mints such as:

• United States Mint

• Royal Canadian Mint

• Perth Mint

• South African Mint

• Austrian Mint

You will find the standard IRA eligible products like:

• American Gold Eagle

• American Gold Buffalo

• Canadian Maple Leaf

• Platinum Maple Leaf

• PAMP Suisse bars

If you plan on opening a precious metals IRA, stick to bullion. Numismatic coins are not eligible for a gold IRA and come with higher premiums.

Always verify purity for IRA purposes. The IRS requires gold to be at least point nine nine five pure unless it is an American Gold Eagle which is an approved exception.

This is where the company does well. When I asked for recommendations for an IRA, they did not push collectibles.

They stayed consistent with bullion, liquid coins, and recognized bars.

This is exactly the behavior you want from a trustworthy firm.

How to Buy Metals from Miles Franklin

Miles Franklin does not offer online checkout.

You have to call them to place your order.

At first I thought this was outdated, but after going through the process, I realized it reduces mistakes.

When you call, you hear live pricing, you know exactly what is available, and you can ask questions in real time.

There is no minimum purchase. There is no maximum either, although very large orders may require a deposit. If you change your mind after placing an order, modifications are possible, but you should always confirm everything before finalizing.

Customers I spoke to told me that Miles Franklin is flexible when dealing with delays, lost checks, or temporary issues. They prefer communication rather than strict penalties.

This is different from some competitors who will charge market loss fees aggressively.

Miles Franklin Payment Methods

You can pay using:

• Bank wire

• Cashier?s check

• Certified check

• Personal check

• Money order

They do not accept credit cards, PayPal, or cryptocurrency.

Checks are held for seven business days before shipping, because they want to avoid fraud and ensure the payment clears.

Wire transfer is the fastest option.

Shipping with Miles Franklin

Most shipments are sent using UPS or USPS. Every package is fully insured.

A signature is required at delivery.

Here is the part you will appreciate.

They offer free shipping and insurance if you buy:

• Ten ounces or more of gold, platinum, or palladium

• Five hundred ounces or more of silver

Orders that do not hit those levels cost fifteen dollars for shipping and insurance.

International shipping is possible, but each country has different restrictions. If you are outside the United States, always confirm with Miles Franklin before ordering.

Miles Franklin IRA Services, First Hand Breakdown

Miles Franklin partners with New Direction IRA to set up self directed retirement accounts.

Here is exactly how it works.

• Step One, you complete the IRA application.
• Step Two, you fill out rollover forms for your existing 401k or IRA.
• Step Three: You purchase IRA-eligible metals from Miles Franklin.
• Step Four, the metals are shipped directly to the approved depository through New Direction.
• Step Five, the metals remain stored until you reach retirement age or choose to take a distribution.

The IRA process is not fully automated, so expect a few calls and emails.

It is slower than competitors like Augusta Precious Metals, but it is reliable once everything is set up.

If you are new to IRAs or want to compare other providers, I welcome you to also read my post about the best gold IRA companies.

Miles Franklin IRA Fees & Costs

Here are the New Direction IRA fees associated with a precious metals account.

Annual Administration Fees:

Seventy five dollars for accounts under one hundred thousand
One hundred twenty five dollars for accounts over that level

Processing Fees:

• Fifty dollar setup
• Forty dollar transaction fee
• Twenty five dollar wire
• Thirty dollar overnight mail

Additional fees include mailed statements, Roth conversions, special services, and distribution processing.

Compared to the industry, these fees are moderate and fairly standard.

Storage Options With Brink’s (How Miles Franklin Handles Safekeeping)

Miles Franklin partners with Brink’s for vault storage, which is exactly what I want to see when dealing with physical precious metals. Brink’s isn’t a new or unknown name in this space.

The company has been around since 1859, and today it’s one of the largest and most trusted secure logistics and vaulting providers in the world.

That partnership matters, because storage is just as important as what you buy.

Miles Franklin offers two private storage options through Brink’s, depending on how much control and access you want.

1. Miles Franklin Segregated Storage Program

This is the option most long-term investors choose, especially those holding metals inside an IRA.

Key features include:

• Fully segregated storage
  Your metals are stored separately, not pooled with anyone else’s.

• Sealed and clearly labeled
  Each holding is identified as yours, which adds an extra layer of accountability.

• Regular audits
  Inventory is verified on a consistent basis, which helps maintain transparency and trust.

• Designed for long-term holding
  Ideal for investors who want professional vaulting without needing frequent access.

Available Brink’s locations include:

• Montreal

• Vancouver

• Los Angeles

• Miami

• Salt Lake City

• New York

In my own case, I chose segregated storage because it allowed me to select a vault location close to home. Having a Brink’s facility nearby made it easier for me to feel comfortable knowing where my metals were stored and that I could physically verify them if needed.

2. Private Safe Deposit Box Program

This option is built for investors who want maximum personal control.

Here’s what makes it different:

• Exclusive access
  Only the client has access to the contents. No shared handling.

• Ideal for select metals
  Typically used for gold and platinum.

• Higher level of privacy
  Suitable for investors who prefer direct oversight of their holdings.

Available locations:

• Vancouver

• Toronto

This option isn’t for everyone, but for investors who prioritize direct access and privacy, it fills a very specific need.

Why This Matters

Both storage options are secure, insured, and suitable for long-term precious metals ownership. What I appreciate most is that Miles Franklin doesn’t treat storage as an afterthought. The Brink’s partnership adds credibility, structure, and peace of mind.

Whether you want professionally managed segregated storage or a private box with exclusive access, the setup feels deliberate and well thought out, not improvised. And when you’re dealing with tangible assets meant to protect wealth, that kind of reliability isn’t optional, it’s essential.

Selling Your Metals Back to Miles Franklin (My Experience)

One thing I always look for with any precious metals dealer is how they handle the exit, not just the sale.

Anyone can sell you gold. What matters is whether they make it just as straightforward when you decide to sell.

Miles Franklin does buy back gold and silver from clients, and in my case, the process was refreshingly simple and transparent.

I started by making a short list of what I wanted to sell, broken down by metal type, condition, and weight. Nothing fancy, just enough detail so the broker could give me accurate pricing.

From there, I called a licensed Miles Franklin broker and asked for current buy prices.

There was no pressure and no games, just a clear explanation of what they were paying based on the market that day. Once I was comfortable with the numbers, they walked me through exactly how to ship the metals safely.

Their team provided clear packaging instructions, which helped avoid the usual anxiety that comes with mailing something valuable. After they received the shipment, it took about one to three business days for them to verify the metals. Payment was processed shortly after.

I chose a wire transfer, which arrived within a few business days. It’s worth noting that wire payments carry a $25 fee, while check payments are free, though checks typically take one to two weeks to arrive.

Overall, the sell-back experience felt professional and low-stress. No last-minute surprises, no sudden price changes, and no runaround. If you’re thinking long-term about owning physical metals, that kind of consistency matters more than most people realize.

What Dealing With Their Support Is Actually Like

After dealing with enough precious metals companies over the years, I’ve learned that customer support is where the real differences show up. Miles Franklin consistently gets this part right.

Here’s what stands out from my own experience:

• You speak to real, licensed professionals
  No call centers. No scripts. When you call, you’re talking to someone who actually understands the metals market and can explain things clearly.

• No pressure to buy
  I’ve contacted them plenty of times just to ask questions or explore options. The focus is always on helping you understand what makes sense, not rushing you into a sale.

• Clear explanations, not sales talk
  Whether I’m asking about current market trends, popular products, or how certain metals fit different goals, the answers are practical and easy to follow.

• Consistent treatment every time
  First call or tenth call, the tone never changes. You’re treated with the same patience and professionalism regardless of how much you’re buying.

• Easy to reach when you need them
  You don’t get bounced around or stuck waiting. When you call, you get someone who’s ready to help.

What I appreciate most is that you can call simply to think through an idea. That’s rare in this industry. And judging by the steady stream of positive investor feedback online, my experience isn’t unusual.

If you value steady guidance, clear answers, and conversations that feel human rather than transactional, Miles Franklin’s support team delivers exactly that.

Miles Franklin Reputation, Customer Experiences, and Complaints

Miles Franklin does not have thousands of online reviews like major national advertisers, but the reviews they do have are mostly positive.

Customer stories consistently mention:

• Personalized service

• Quick responses

• Honest explanations

• Help with IRA transfers

• Respect for customers new to gold

The only negative comments I found involved slower shipping times during busy market periods, which is not uncommon in the precious metals industry.

Miles Franklin Pros and Cons

Pros

• Wide selection of metals
• Discount broker pricing
• No minimum purchase
• Solid storage options
• Experienced founders
• Thirty plus years in business
• Good service reports
• BBB A plus rating

Cons

• No online checkout
• Prices not visible online
• IRA setup slower than automated competitors
• Limited online reviews
• Minor reports of shipping delays

Is Miles Franklin a Scam?

No. Miles Franklin is legitimate. They have been in business for over thirty years, they are accredited with the BBB, they have stable leadership, and they operate with transparent policies.

In my experience, the company behaves like a professional boutique dealer, not a high pressure marketing firm.

If someone is researching whether Miles Franklin is a scam, what they actually want is simple reassurance that their retirement savings or bullion purchase will be treated responsibly.

Based on my first hand interactions and the verified track record, the company is safe and operates ethically.

Final Thoughts, Should You Work with Miles Franklin

If you prefer personal service, if you want to speak with someone who knows the markets, and if you appreciate competitive pricing without aggressive sales pressure, Miles Franklin is a solid choice.

They are especially good for buyers who want a relationship based approach instead of automated online ordering.

However, if you want a streamlined, ultra modern process with clear online pricing and a fully guided gold IRA experience, you may want to compare this review with my Goldco review or an Augusta Precious Metals review for alternative options.

Miles Franklin is reliable, long standing, and professional.

They simply follow an older style of doing business. For many investors, that is exactly what they want. For others, especially younger buyers, the lack of online ordering may be a downside. Either way, this is a trustworthy company in a crowded industry.

If you want to continue learning about the industry, check guides covering gold ira scams, gold ira guide, and other gold ira companies so you can compare everything before choosing your provider.

Thank you for reading my Miles Franklin review. If you have questions or want to share your experience, feel free to leave a comment.