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Online Bullion Purchasing Now Available at Miles Franklin

Saturday, November 5, 2016 14:29
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At this extremely important, perhaps historic juncture in political, economic, and monetary history, Miles Franklin has coincidentally completed the implementation of several key strategic initiatives, long in the making – which cumulatively, demonstrate further why “all Precious Metal Bullion Dealers are not commodities.”

In last week’s “introducing the most unique alternatives in the global bullion (and cash) storage industry,” we discussed the launch of what we believe to be a one-of-a-kind storage option, Miles Franklin’s Private Safe Deposit Box program at Brinks’ vaults in Toronto and Vancouver. In which, to the letter of the IRS law, clients can store gold, platinum, palladium, and physical cash (in the form of U.S. dollars, Canadian dollars, or Swiss Francs), in “directly held” form, in safe deposit boxes which only the client has access to (or Brink’s, with the clients personal key and express written consent). To that end, in this weekend’s Special Podcast, “exciting Miles Franklin product launches, and Precious Metal market outlook,” I interviewed our President and Co-Founder, regarding not only the state of the market heading into this week’s potentially historic election, but the Private Safe Deposit Box program, our impending acceptance of Bitcoin as payment for Precious Metals, and what I’m about to discuss now. Which is, that as of this week, Miles Franklin is officially enabled for online Precious Metal buying!

Make no mistake, we continue to favor broker-to-client transactions, where we believe our value addition, in terms of service and competitive pricing, is most evident – as evidenced by holding an A+ Better Business Bureau rating for 27 years, without a single registered complaint. An accreditation, I might add, strengthened by the fact that our home state of Minnesota is, as of two years ago, the only state to formally regulate bullion dealers – to the point that many longstanding competitors no longer operate in Minnesota, or deal with Minnesotan clients, to avoid the onerous regulatory requirements.

That said, we also understand that, in today’s internet age, the convenience of online purchasing is necessary to stay competitive, particularly in the age of 24/7 news cycles and instantaneous information dissemination. Thus, we not only upgraded dramatically, making it, in our view, one of the most aesthetically pleasing, user friendly websites in the industry, but enabled online purchasing capability – in which, we assure you that the level of service support you receive, will be no different than when dealing with a live Miles Franklin broker.

That said, there are some restrictions to its use – starting with the requirement to first contact Miles Franklin at 800-822-8080 or 952-582-6316, and formally establish a relationship with one of our brokers. The reason being, that due to the new AML/KYC, or Anti-Money Laundering/Know Your Client laws, a heavy regulatory burden rests on dealers to know who they are dealing with. Afterwards, an initial credit limit of $5,000 will be established with most new clients – or higher if cash is deposited beforehand; which can be negotiated higher over time, as the relationship develops. To that end, initial credit limits for existing clients may be significantly higher. Once this simple introduction process is complete, clients can log in to their account and purchased gold, silver, platinum, or palladium via credit card; check; wire; or the debiting of one’s account, if cash was deposited beforehand.

Cumulatively, we believe these product launches will significantly improve clients’ buying, selling, and storage experiences. And thus, if you are considering one or more of such, we humbly ask for the opportunity to earn your business. To that end, if you have any questions, please contact us via the aforementioned phone numbers; or alternatively, feel free to email me at


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