Companies featured here may provide compensation for click throughs. This is how I maintain free research for consumers. My full disclosure of who I invested with is on this page for transparency.
TL;DR: Scotsman Coin and Jewelry is a 50-year-old family-owned dealer in St. Louis, Missouri, best known for the Scotsman Trading Sheet, a transparent pricing tool covering Gold Pandas, pre-1933 gold, and pre-1936 silver coins. The company sells IRA-approved metals but does not act as a custodian, so it refers retirement investors to The Entrust Group or New Direction IRA. The firm holds an A+ BBB rating with zero filed complaints.
* * *
Gold, silver, platinum, and palladium have become popular investment options, especially amidst tough economic times with changing interest rates and soaring prices.
Precious metals usually remain stable and provide a hedge against inflation in scenarios where traditional investments typically lose value.
If you want to buy precious metals, finding a legitimate and reputable dealer with high-quality products is just as important as understanding your financial goals and having enough money for your investment.
The market is flooded with options. You can find many precious metals dealers online, exchanges like Orion Metals Exchange, in physical stores, and even through banks and investment firms.
Scotsman Coin and Jewelry is one example. For several decades, this firm has provided investors, including numismatic enthusiasts, with valuable products for their investment portfolios.
*But is this company reliable? How can you know if you can trust it? That’s what I’m here to break down.*
Investing your savings is a serious task. When it comes to adding precious metals to your portfolio, how do you know which companies to trust?
That is why I have researched every company in the industry and selected the very few with the highest customer service standards. This way you can easily compare the best companies in the business, and choose one that fits your needs and investment goals.
>> CLICK HERE to read our list of the 5 Best Gold Investment Companies. <<
Or, if you want to go directly to the one I picked for myself and invested my own retirement money with, click here for a FREE guide.
Read the list to see if Scotsman Coin and Jewelry passed my strict customer service standards to become one of my top recommendations.
After researching every firm in the precious metals world, I put together this comprehensive review to help you find out if Scotsman Coin and Jewelry might be a good choice.
What Is Scotsman Coin and Jewelry?
Scotsman Coin and Jewelry is a family-owned and operated company based in St. Louis, Missouri, that specializes in the buying and selling of precious metals and fine jewelry.
This firm is a member of several professional organizations, including:
- American Numismatic Association (ANA)
- Numismatic Guaranty Company (NGC)
- Professional Coin Grading Service (PCGS)
- Professional Numismatic Guild (PNG)
To invest in precious metals, you need to open a self-directed Individual Retirement Account (IRA), a specialized option that allows you to invest in gold, silver, platinum, and palladium.
Besides offering such products, Scotsman Coin and Jewelry will pair you with a self-directed IRA specialist to help you open your account and buy investment-grade precious metals.
Key Company Information and History
Scotsman Coin and Jewelry was founded in the 1970s by Robert Woodside and has been operating in the precious metals industry for nearly five decades. The firm has stayed in the Woodside family across three generations, which is rare in the dealer business. Here is what investors should know about the firm’s history.
When this company entered the market, the founder and his son, John “Jay” Woodside, were collecting and trading numismatics. Robert Woodside died in 1982.
After his father’s death, Jay Woodside purchased the company from the other two partners. Since then, he has been serving as the president of Scotsman Coin and Jewelry. His son, John B. Woodside, became the firm’s vice president in 2001.
Scotsman Coin and Jewelry has continued to grow since its founding. Besides operating a brick-and-mortar storefront, the firm buys and sells precious metals through an online store and holds auctions around the St. Louis area.
If you’re interested in purchasing gold, silver, platinum, and palladium products or jewelry from Scotsman Coin and Jewelry, you can go to the website to browse the current inventory, get up-to-date pricing information, and complete purchase or sale transactions.
The website also offers details about upcoming auctions through the Auctions tab and allows you to sign up for the Bullion Club, which is a great option if you want to get special discounts.
Management Team
Scotsman’s management team is unusual for this industry in one important way. Every senior person is publicly named, credentialed, and has decades of bench experience. That is the kind of staff depth I look for in a dealer. Here is the team in charge.
Scotsman Coin and Jewelry’s management team is comprised of the following professionals:
- John “Jay” Woodside as president: The head of the company, he’s a specialist in numismatic authentication, grading, and evaluation with nearly 50 years of experience. Besides being part of ANA, PNG, PCGS, and NGC, Jay Woodside is a member of the Saint Louis Numismatic Society (SLNA), Missouri Numismatic Society (MNS), Central States Numismatic Society (CSNS), Florida United Numismatists (FUN), and many other organizations.
- John Woodside as vice president: Holding a business degree from Missouri State University and completing the ANA Advanced Coin Grading Course, he has worked as an intern for the MO State House of Representatives and as corresponding secretary for the Missouri Numismatic Society. John Woodside also won the Silver Dollar Roundtable President’s Award.
- Julie Crawford as chief executive officer (CEO): She’s in charge of the company’s financial planning and accounting, which includes funds collection, daily management, and disbursement. Julie Crawford is a graduate of the University of Missouri-Columbia with an honors degree in business administration and management.
- Andy Nugent as IRA specialist: With over a decade of experience in corporate sales around the country, he has extensive knowledge about IRAs and alternative bullion investing options. Andy Nugent, who holds a degree from Missouri State University and is currently pursuing ANA-certified training, joined Scotsman Coin and Jewelry in 2001.
- Robert Koziatek: He’s a seasoned numismatist who has been a key figure in the company since its early days. Robert Koziatek’s calm and charismatic personality, honed during a high-pressure situation at the 1904 World’s Fair auction, has made him a trusted figure among customers. His daily interactions demonstrate his ability to exceed expectations.
Reviews and Complaints
Although Scotsman Coin and Jewelry doesn’t have accreditation from the Better Business Bureau (BBB), it has achieved an A+ rating based on two 5-star reviews praising the company’s exceptional prices, ethical business practices, and fast transactions. The firm has gotten zero complaints so far.
One review mentions the fact that other precious metals dealers operating in the same area produce informational materials based on Scotsman Coin and Jewelry’s trade sheet, which may suggest that competitors are using the company’s resources as a reference point for pricing and market trends.
While this information is valuable, only two reviews on the BBB website aren’t enough for a company with almost five decades in business.
Scotsman Coin and Jewelry also isn’t listed on TrustPilot, which is considered to be among the most important rating platforms.
However, the company has a 4.7-star rating based on 146 reviews on Facebook and a 4-star rating based on 40 reviews on Yelp. Previous customers are generally happy with Scotsman Coin and Jewelry’s honest and professional customer service, unique offerings, and fair prices.
It’s important to note that some comments on Facebook are posts from crypto scammers, which usually appear on precious metals firms’ pages, but there are legitimate ones, too.
Custodian and Storage
Although Scotsman Coin and Jewelry has a Certified IRA Services Professional who is willing to help you open an account to purchase precious metals, it doesn’t offer custodian and storage services, which are required for these investments.
In other words, the company won’t execute your IRA transactions, make your investment decisions, or protect your precious metals. Instead, you have to work with third-party custodians and store your assets through approved services.
Scotsman Coin and Jewelry recommends new investors partner with The Entrust Group or New Direction IRA, Inc. For storage, you can consider an approved depository for IRA-held metals, or, for non-IRA personal holdings only, a bank safe deposit box insured by the Federal Deposit Insurance Corporation (FDIC).
Contact Scotsman Coin and Jewelry
If you want to get in touch with Scotsman Coin and Jewelry’s team, you can visit the firm’s storefront in St. Louis or contact its representatives via phone call or email.
For basic questions and general information, you can also check out the FAQ section on the company’s website.
Consultation
Scotsman Coin and Jewelry does not offer formal scheduled consultations through its website. For substantive questions, you call the storefront directly or email the team, and a staff member who knows the product gets back to you. That is more friction than an online scheduler, but it filters serious buyers from casual browsers.
If you have questions, it’s best to reach out to the team by phone or email.
Account Setup
Whether you want to buy precious metals directly or bid on auctions, you need to set up an account on Scotsman Coin and Jewelry’s website.
As mentioned above, the company doesn’t offer gold IRA services directly but will refer you to a recommended firm to open your account. You just need to select an option and complete your application.
Besides that, you can enroll in the Bullion Club to receive discounts on all your purchases.
Funding
Once your gold IRA is open, you fund it through either a direct trustee-to-trustee transfer or an indirect rollover from your existing retirement plan. The direct transfer is the safer path because the money never touches your hands and no taxes are withheld. Both options have different tax implications, which I’ll cover below.
You can fund your account through transfers or rollovers from your existing retirement plan. However, both options come with tax implications.
If you choose an indirect rollover, for example, you can withdraw funds from your current IRA, but you have up to 60 days to contribute that money to your new account. Otherwise, you may be subject to tax penalties.
Purchase
Scotsman cannot open your retirement account, but it does sell IRA-approved precious metals once your account is funded at a partner custodian. You contact the team, share your investment goals or budget, and they put together a recommended purchase with one-on-one customer support. That keeps the metals selection in the hands of a named specialist rather than a faceless call center.
Although Scotsman Coin and Jewelry cannot open your account, it does offer IRA-approved precious metals. Simply contact the team to discuss your investment goals or set a budget to get recommendations for your purchase. The company provides one-on-one customer support.
Plus, you can get to see IRA-approved precious metals in person by visiting Scotsman Coin and Jewelry’s physical location.
Delivery and Storage
For IRA-held metals, Scotsman will insure and ship your assets directly to your IRS-approved depository using USPS Registered Mail or USPS Priority Mail with insurance. Shipping method depends on your items’ weight and volume. IRA-held metals cannot legally be shipped to your personal address or a bank safe deposit box. They must go directly from the dealer to the depository under IRC § 408(m).
As explained above, for an IRA you must choose an IRS-approved depository to store your precious metals after setting up your gold IRA. A bank safe deposit box is acceptable for non-IRA personal holdings only.
Scotsman Coin and Jewelry will insure and ship your assets to your chosen storage option via USPS Priority Mail or USPS Registered Mail, but this will depend on your items’ weight and volume.
Scotsman Coin and Jewelry Products
This company offers precious metals, estate jewelry, diamonds, antiques, and other unique items. Below are the most important IRA-eligible products:
- American Eagle coins
- American Buffalo coins
- Australian Kangaroo coins
- Canadian Maple Leaf coins
- .999 GEM Gold bars
Buyback Policy
While the website doesn’t display information about a buyback policy, Scotsman Coin and Jewelry does buy precious metals from customers, which means that you might be able to sell your assets back to the company and cash them out at the current price.
Scotsman Coin and Jewelry’s Fee Structure
The Scotsman Trading Sheet has made this company famous. This tool features prices on available products and is clear, transparent, and easy to understand. In addition, it provides valuable information about Gold Panda, pre-1933 gold, and pre-1936 silver coins through attractive charts.
These are some of the fees you may have to pay if you choose Scotsman Coin and Jewelry for your investments:
- A $15 bank wire fee to transfer funds from your existing IRA to Scotsman
- $15 to ship your assets to your depository or bank’s safe deposit box (for first-time customers only)
If you’re a returning customer and invest over $5,000, you can receive free shipping with insurance included. Unlike competitors, Scotsman Coin and Jewelry doesn’t charge hidden fees or commissions.
Pros and Cons of Scotsman Coin and Jewelry
Below are the pros and cons of choosing Scotsman Coin and Jewelry as your precious metals dealer.
Pros
- Nearly 50 years of continuous operation under a single family. Multi-generational dealer continuity is rare in this industry. It signals that the firm has weathered multiple precious-metals cycles and that the next generation is already in the chair.
- Named, credentialed leadership team. Jay Woodside, John B. Woodside, Julie Crawford, Andy Nugent, and Robert Koziatek are all publicly named with their credentials disclosed. If something goes wrong on a purchase, you know who to ask for.
- No hidden fees or percentage commissions. The $15 wire and $15 shipping (waived after the first purchase over $5,000) is the entire dealer-side fee table.
- The Scotsman Trading Sheet is genuinely transparent. Other regional dealers reference it in their own materials, which is the strongest validation a pricing tool can get.
- Bullion Club discounts compound on repeat purchases. If you plan multiple transactions, the discount tier pays for itself quickly.
- Strong unique product depth. Estate jewelry, pre-1933 numismatic gold, auction-grade pieces, and standard bullion all sit under one roof.
- Zero filed BBB complaints. That is the strongest single signal in the BBB section, more meaningful than the small total review count.
- No Missouri sales tax on in-state purchases. Useful if you are local or willing to coordinate pickup.
- Clean separation of dealer, custodian, and depository roles. You assemble the stack yourself, which is more work but reduces conflict-of-interest risk versus one-vendor models.
Cons
- No formal buyback program in writing. Scotsman does buy metals back, but the absence of a published buyback policy is a real gap for a retirement-account purchase.
- Limited online review footprint. Two BBB reviews and no TrustPilot listing is a thin paper trail for a firm with 50 years of operations. Strong locally, less visible nationally.
- No in-house custodian or depository coordination. For investors who want a single-vendor experience like Goldco or Augusta provide, Scotsman is not the right structural fit.
- Website is dense and not beginner-friendly. The product depth that makes Scotsman valuable to experienced numismatists is overwhelming for a first-time precious-metals buyer.
- No formal scheduling system for consultations. You have to call and ask for a specific person. For investors used to online schedulers, this is friction.
- Not a fit for full-service retirement rollovers. If you want a specialist who handles the rollover paperwork, the custodian setup, the metals purchase, and depository coordination on one phone call, Scotsman refers you out for three of those four steps.
- Limited national brand recognition. Scotsman is strong in St. Louis and the broader Midwest. Outside that region, you are buying from a name your network has likely never heard of.
How Scotsman Compares to Online Bullion Dealers
The Scotsman Trading Sheet is a regional pricing reference. Investors regularly ask how Scotsman compares to the larger online bullion dealers, especially BGASC, PIMBEX, and the subscription-style Acre Gold model. Here is how I think about each.
BGASC is one of the larger volume-driven online bullion dealers, focused on standard IRA-eligible bullion at thin spot-price markups. BGASC does not act as an IRA custodian. The firm sells directly to retail and to IRA custodians as the metals supplier. Where Scotsman differentiates is numismatic depth and named-staff transparency. Where BGASC differentiates is raw selection volume and online checkout speed. For investors who want a wide standard-bullion menu and do not care about the dealer relationship, BGASC works. For investors who want a named contact and access to numismatic-grade pieces, Scotsman is the better fit.
PIMBEX is another online bullion dealer with competitive spot-price markups. PIMBEX’s strength is its pricing on standard-issue silver bullion and its broad fractional coin offerings. The structural model is similar to BGASC. Online-only, no custodian role, no auction calendar. The trade-off versus Scotsman is the same. You gain selection and pricing transparency in real time. You lose the local relationship and the auction access.
Acre Gold is a different category of competitor. Acre operates on a subscription model where customers pay a monthly fee to accumulate gold over time, and the dealer ships small bars on a periodic schedule. Acre is not a comparable competitor for IRA buyers. The structural model is consumer-savings-account, not IRA-eligible bullion. I mention it here because the keyword traffic conflates Acre with traditional dealers. It should not. If you are building a retirement-account gold position, Acre’s subscription model does not fit the IRA framework.
The shorter version. Online bullion dealers compete on price and selection. Scotsman competes on depth, relationship, and numismatic credentialing. For a strict IRA bullion purchase, an online dealer can match or beat Scotsman on price. For a relationship-driven purchase that may include rare coins, estate pieces, or in-person consultation, Scotsman is the better choice.
If You’re Building a Gold IRA, Where Scotsman Fits
Scotsman is a strong dealer. It is not a full-service gold IRA company. If you are starting from a 401(k) or an existing IRA and you want a one-stop rollover experience, you need a firm that handles dealer, custodian coordination, and depository routing as a single specialist relationship. Scotsman is structurally designed to be the dealer half of that stack, not the whole stack.
After working with the major operators in this industry for over a decade, the company I personally invested my own retirement money with is Goldco. The minimum is $25,000, which is reachable for most serious retirement rollovers. The buyback program is in writing and is the strongest in the industry. The specialist model means you work with one person from your first call through metal selection and storage confirmation. If you want to start there, request the free Goldco investor’s guide and read it before you call anyone.
For investors with larger balances (typically $50,000 and up) who want a more education-heavy, lifetime-account-rep experience, Augusta Precious Metals is the second name I recommend. Augusta’s free one-on-one web conference is the strongest education-first onboarding I have seen.
For investors with smaller starting balances (around $10,000), Noble Gold’s lower minimum gives you a serious-firm onboarding without forcing you to commit a larger balance than you are ready for.
For a complete walkthrough of how I weighed all five companies before making my personal Goldco decision, the 5 Best Gold Investment Companies page is where I lay it out.
Final Thoughts
With almost 50 years of experience in the precious metals and jewelry business, Scotsman Coin and Jewelry is a name that stands out.
If you’re looking for gold, silver, platinum, or palladium products, antiques, diamonds, estate pieces, and other unique items, you’ve probably heard about this company, especially if you’re in the St. Louis area.
Scotsman Coin and Jewelry is often praised for its professionalism and ethical practices. In addition, this company offers fair, transparent prices, provides personalized advice to each customer, and is committed to paying attention to feedback and addressing potential complaints as soon as possible.
One clear drawback is the complexity and depth of information on the company’s website. If you’re a beginner, you may have a hard time trying to get started. However, Scotsman Coin and Jewelry offers valuable educational resources, such as FAQs and informative articles, and encourages new investors to contact the team for guidance.
Frequently Asked Questions
What is the Scotsman Coin Trading Sheet?
The Scotsman Coin Trading Sheet is a pricing reference document published by Scotsman Coin and Jewelry that lists current buy and sell prices on specific numismatic and bullion items, including Gold Pandas, pre-1933 U.S. gold coins, and pre-1936 silver coins. Other regional dealers in the Midwest reference Scotsman’s sheet when they set their own retail pricing. It is available through Scotsman’s website and in printed form at the storefront.
What are the top gold IRA companies?
The three gold IRA companies I recommend most often on this site are Goldco, Augusta Precious Metals, and Noble Gold. Goldco is my personal pick at the $25,000 minimum tier and is where I invested my own retirement money. Augusta is the choice for investors at $50,000 and up who want a heavier education and lifetime-rep model. Noble Gold is the entry point for smaller balances around $10,000. American Hartford Gold and Birch Gold Group round out the top five.
Is Bishop Gold Group a pyramid scheme?
Bishop Gold Group is not a pyramid scheme. The firm operates as a standard precious-metals dealer with an IRA-eligible product line. I have a separate review of Bishop Gold Group on this site that covers their pricing structure, BBB rating, and customer reviews in detail. The “pyramid scheme” search phrasing reflects investor confusion rather than a documented allegation against the firm.
Is Bishop Gold Group a scam?
Bishop Gold Group is not a scam. The firm is a registered precious-metals dealer with a published business address, named principals, and an active BBB profile. My review of Bishop Gold Group on this site walks through the operational details and the customer feedback patterns. If you are researching the firm specifically, that is the better starting point than a top-line search.
What do customer reviews say about Cornerstone Asset Metals?
Cornerstone Asset Metals carries mixed customer reviews across the major consumer platforms. Some customers report positive transactions and responsive support. Others document pricing disputes and delivery delays. I have a separate Cornerstone Asset Metals review on this site that breaks down the patterns. Before investing with any precious-metals firm, read independent reviews on BBB, TrustPilot, and Google in addition to the dealer’s own marketing materials.
* * *
Disclosure: This article contains affiliate links. I may earn a commission if you make a purchase through them. Companies featured here may provide compensation for click throughs. This is how I maintain free research for consumers.
Disclaimer: This is not financial advice. Consult a qualified financial advisor and a tax professional before making investment decisions involving a retirement account.
* * *
About the Author: Tim Schmidt Sr. has been covering precious-metals investing since 2012. He founded IRAInvesting.com that year and has spent more than a decade evaluating gold IRA companies, custodians, and depositories firsthand as a personal account holder. He serves as VP Business Development at Cayman Financial Review and operates Ice Cold Marketing from Weston, Florida. His commentary has appeared in CNBC, Yahoo Finance, and other financial outlets.
Reviewed by: Sean Webster, CPA. Sean reviews the IRS rule references, rollover mechanics, and custodian-and-storage compliance points in this article for accuracy under current self-directed-IRA regulations.
* * *
