Miles Franklin Reviews, Complaints & Ratings

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If you are looking to invest in precious metals, you definitely need a reputable precious metals company. Is Miles Franklin among reputable companies in the industry? Is it legit or scam? Let’s find out in this unbiased Miles Franklin review.

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What Is Miles Franklin?

Miles Franklin Reviews

Miles Franklin (Miles Franklin Precious Metals Investments) is a precious metals company founded in 1989 by David Shectman and his son Andrew. The company is located in Wayzata, Minnesota, and is among the oldest precious metals dealers having been founded 3 decades ago. Miles Franklin sells a wide range of gold, palladium, silver and platinum bullion as well as numismatics. Also, the firm offers precious metal IRAs in partnership with custodians such as the New Direction Trust Company.

Miles Franklin Review Summary

Location:

Wayzata, Minnesota

Address:

801 Twelve Oaks Center Dr Ste 834

Wayzata, MN 55391-4650

Year Founded:

1989

Management:

David & Andrew Schectman (Founders)

Website:

www.milesfranklin.com

Rating:

[usr 3.5] Not Recommended

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Miles Franklin Products & Services

Miles Franklin Products

Miles Franklin sells a wide variety of IRA-approved gold, platinum, silver and palladium bullion coins and bars. Also, they offer a large selection of numismatic coins for collectors. As for precious metals IRA, Miles Franklin can help you open one through partnership with New Direction Trust and the Brinks depository. Below are a few examples of products you can purchase from Miles Franklin.

  • 1 Ounce Gold Australian Perth Mint Bar
  • 1 Ounce Gold Australian Philharmonic 2019
  • 1 Ounce Gold American Eagle
  • 1 Kilo Gold Bar from various mints
  • 1 Ounce Gold Canadian Maple Leaf
  • 1 Ounce Silver Australia Dragon
  • 1 Ounce Silver Australia Koala 2019
  • 1 Ounce Silver Buffalo Round
  • 1 Ounce Silver American Eagle Backdated
  • 1 Kilo Silver Cast Bar
  • 2 Ounce Silver Canadian Creatures Of The North
  • 1 Ounce Platinum Canadian Maple Leaf
  • 1 Ounce Platinum American Eagle
  • 1 Ounce Platinum Bar
  • 1 Ounce Palladium Bar
  • 1 Ounce Platinum Canadian Maple Leaf
  • 1 Ounce Palladium American Eagle

How to Get Started

Miles Franklin have a product catalog, but no online checkout system to allow you to place orders right on their website. You are required to call the company to inquire about pricing or place an order. As for precious metal IRAs, you need to contact the company and provide the following information.

  • Personal information such as your name, phone number, email address, social security number, physical address and date of birth.
  • The type of tax-deferred account you wish to open e.g. 401k, SEP, Traditional IRA, Roth IRA etc.
  • The amount you wish to roll over
  • If paying for your account setup via electronic check or credit card, your credit card number, security code, expiry date, or a blank check are required.
  • Details about your current IRA Custodian including phone or fax number, physical address, as well as your account number
  • Copy of your current IRA plan statement

Upon reception of the above information, Miles Franklin will assist you to roll over you funds and purchase metals for your IRA.

Pros of Miles Franklin

  • IRAs Are Offered

Other than selling bullion and numismatics, Miles Franklin also offers precious metals IRA services to help people protect their wealth from economic downturns. Setting up an account with them is also quite simple as you only need to contact them and provide a few details about yourself and your current IRA custodian.

  • Many Years In Business

With over 30 years in business, Miles Franklin has not only demonstrated their legibility and trustworthiness, they’ve also acquired unmatched expertise in matters precious metals. You will likely be guided by highly experienced advisors.

  • BBB Accredited

Miles Franklin has been accredited with the BBB since 2009, implying that they are a credible firm.

Cons of Miles Franklin

  • Limited Reviews

There are not that many reviews of Miles Franklin online. This is quite alarming as we all expect a company with 3 decades in business to boast thousands of reviews, complaints and ratings online.

  • You can’t Order Online

There’s no online checkout and thus you need to call the company to make a purchase, which is not only inconvenient but time consuming.

  • No Pricing and IRA Fee Information

Besides the lack of an ecommerce system, Miles Franklin also omits pricing information from their product details. This lack of crucial information will therefore force you to go through the laborious and expensive process of calling the company to make inquiries.

Miles Franklin Reviews, Accreditation & Ratings

Miles Franklin Rating

Miles Franklin is rated A+ (highest possible rating) by the BBB and have a customer rating of 4.4/5 stars on the platform based on 5 customer reviews. On Yelp, they are rated 4/5 stars based on 4 reviews, while on the Business Consumer Alliance, they boast a 5/5 rating based off of 2 customer reviews. And on Trustpilot, Miles Franklin Precious Metals Investments boasts a 3.7/5 rating based on 1 review. Miles Franklin is not listed on Trustlink.

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Is Miles Franklin Legit or Scam?

In spite of the limited customer reviews, we found that Miles Franklin is not as scam but a legit precious metals dealer. It is owned by famous precious metals experts and has been around for 3 decades.

Miles Franklin Alternatives

Miles Franklin Reviews- Summary

Miles Franklin is a precious metals firm based in Wayzata, Minnesota. The company has been offering quality bullion, numismatics as well as IRA services for over 3 decades. Besides, the firm is accredited with the BBB which implies that it’s absolutely legitimate. One major disadvantage of Miles Franklin is the lack of online reviews and ratings.

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