Scotsman Trading Sheet: Are Scotsman Coin and Jewelry’s Offerings Worth the Investment?

By Tim Schmidt - UPDATED: January 12, 2025

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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 thing is that 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 why we're here!

After researching every firm in the precious metals world, we've crafted this comprehensive review to help you find out if Scotsman Coin and Jewelry might be a good choice. Read on!

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

Founded in the 1970s by Robert Woodside, Scotsman Coin and Jewelry has been doing business in the precious metals world for nearly five decades.

When this company entered the market, the founder and his son, John "Jay" Woodside, were collecting and trading numismatics. Unfortunately, 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 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.

Additionally, Scotsman Coin and Jewelry 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 or 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 doesn't offer consultations through its website. 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

Did you open your gold IRA? 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

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

As explained above, you should choose an approved depository or select a trusted bank's safe deposit box to store your precious metals after setting up your gold IRA.

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. However, we focused on the ones you can put in your IRA. Here are the most important ones:

• 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

• Almost 50 years of experience in the precious metals industry
• No hidden fees or commissions
• Transparent trading sheet
• Detailed website
• Discounts through the Bullion Club membership
• Exceptional customer service
• Unique offerings besides precious metals
• Extensive inventory
• No sales tax on purchases made in Missouri

Cons

• Lack of a clear buyback policy
• Limited online reviews
• No BBB accreditation
• Complex website, especially for beginners

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.