How do I buy from Miles Franklin Ltd?
Buying precious metals is easier than ever.
Do you have a minimum order?
Yes. Depending on the type of product, our minimum order ranges from $500 to $1,000. For any orders shipped to Canada, our minimum order is $1,500.00 (USD) per transaction, and, at present, the only acceptable Canadian payment method is via bank wire.
Do you have a maximum order?
The short answer is no, however we do reserve the right to request a 10% deposit on orders deemed “significant” by Miles Franklin, before we will accept the order and lock in prices. On orders greater than $500,000, we recommend that you contact our Trading Department at 800-822-8080 to determine if a deposit will apply.
Can I change my order after my order is confirmed?
In rare instances, Yes. However, there are times when it can be rather difficult modify an order after it has been confirmed. We suggest you take the time up front to make sure what you want is exactly what you order.
How do I sell to Miles Franklin?
Selling your gold and silver back to us is easy. When you are ready to sell just follow these simple steps:
1. Call our Trading Department at (800) 822-8080 and get our current prices
2. Securely package your items. We recommend that you ship your package via USPS Registered Mail (which includes insurance) for your protection.
3. When we receive your package we will typically send your payment within 3-5 business days in one of the following ways. You can select which payment method best suits your needs.
Payment options for purchases of less than $5,000.00 (USD):
1. Check sent priority mail - a $5.00 (USD) priority fee will be applied
2. Check sent first class mail
Payment options for purchases of $5,000.00 (USD) or more:
1. Bank Wire – a $25.00 (USD) priority fee will be applied
2. Check sent priority mail - a $5.00 (USD) priority fee will be applied
3. Check sent first class mail
What products do you buy?
We are active market makers in just about all physical precious metals products.
What happens if I don’t send in the precious metals after a price has been confirmed?
You will be liable to cover any market loss we incurred by accepting the order to buy from you. Furthermore, you will not be permitted to buy or sell to us in the future.
Can I cancel my order?
Once we have issued a confirmation number, all prices are locked-in whether buying from us or selling to us. It is not our intention to enter into buying and/or selling transactions, accepting the risks involved only to have them cancelled. However, we realize rare situations happen where orders need to be cancelled. Should you elect to cancel and/or offset your order, you must do so during normal business hours of 8:00 – 4:00 CST Monday – Friday. All cancellations are subject our market loss policy. Cancellations may only be approved over the telephone, at which time you will be given a cancellation number. At that time any market loss will be calculated. We will invoice you in which you will have thirty days to pay the amount due in full. No future orders may be permitted until any market loss is paid in full. Any market gain on cancellations shall remain the property of Miles Franklin
Do you accept trade-ins?
Are my prices locked in when I place my order?
Yes. When you place an order over the telephone or online, you will be given a confirmation number that locks in your price.
How long is my price locked in for?
Your price is locked in for 5 business days on orders under $25,000 (USD) and three business days for orders more than $25,000 (USD). That is the time you have to make your payment.
Once you have placed an order you have entered into a binding agreement.
You must ensure that your payment is dated within 24 hours and received by within five business days on orders under $25,000 (USD) and three business days on orders more than $25,000 (USD) to guarantee your price. Providing us with your credit card information is required to lock in pricing all orders for first time buyers. You are responsible to cover any market losses should your order be cancelled.
Payment must be provided using:
- Bank Wire
- Certified check
- Cashier’s check
- Money order
- Personal check. Try our check by phone option! This option allows you to pay by personal check over the phone with no fees of any kind.
Where and how do I wire funds?
Upon placing an order and our issuing a confirmation number, we will provide you with complete instructions. This will include our bank name, ABA routing number and account number.�
Please note: We only accept bank wires for an amount over $1500.00 (USD).
How quickly will you need my payment?
You must ensure that your payment is received within five business days on orders under $25,000 (USD) and three business days on orders more than $25,000 (USD) to guarantee your price. Miles Franklin reserves the right to cancel orders that do not meet this requirement. We recommend mailing your payment the same day your order is placed.
Do you ship internationally?
In a limited way, Yes. We currently ship only to Canada . Our standard shipping rates will apply to all orders.
How do you wrap your packages?
All our packages are carefully and discretely wrapped, typically in brown tape and not to give any indication as to the contents inside. Many times we place a box within a box for extra shipping security.
How is my order shipped?
Miles Franklin’s orders are shipped Registered/Insured U.S. Mail or UPS. Each package is fully insured and will require a signature upon delivery. Packages sent registered and insured mail can take on average 5-10 business days.
- $1 – $34,999: $36
- $35,000 – $49,999: $62
- $50,000 – $75,000: $84
- $75,000 – $150,000: $120 USPS Registered, $160 UPS Overnight Only
- Siver Eagle Boxes: $45 ea.
Delivery can be expected on average within 5-10 business days of shipment. Your order may be shipped in multiple packages.
Can you ship my order to a post office box?
Yes, orders shipped registered and insured US mail can be sent to a P.O. Box. If a different shipping method is used, you must specify a street address for shipment. A signature is required upon delivery of your package.
Is gold, silver, platinum or palladium taxable?
Miles Franklin does not collect any tax when your order is shipped outside the state of Minnesota. You should consult your tax advisor for specific taxation advice in your jurisdiction. State taxes may be applicable.