Scotsman Coin and Currency


Reviewed by:
Rating:
4
On August 28, 2014
Last modified:February 13, 2017

Summary:

Scotsman Coin and Currency

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Without an investment in a gold IRA, your savings could be at risk because of today’s fickle economy. During harsh economic times, gold IRAs keeps your savings safe with the possibility of increases in value, which makes them an ideal investment choice.

Scotsman Coin and Currency reviewThis review of Scotsman Coin and Currency, we aim to show you how the company does business, their offerings and whether your savings is well protected if you do business with them.

Scotsman Coin and Currency Services

Although the website of Scotsman Coin and Currency is rather cluttered and hard to navigate, it was possible to determine that the company buys and sells precious metals, which is pretty obvious though given their name.

Regarding their inventory, the website lists their items with buy and sell prices in spreadsheet from. However, instead of an actual price, the word “quote” is given for a number of items so my guess is that you have to give them a call for a quote on such items.

Scotsman Coin and Currency sells fine jewelry as well but for that you will get redirected to another better designed website.

There is also an auction program but it is not as simple as when you place a bid in an eBay auction. You will have to follow quite a few regulations, rules as well as other stipulations and apparently you have to register on their website to participate.

There is no mention of IRA services on their website and there is no real information on investment grade metals either.

Customer Reviews

In this section, our Scotsman Coin and Currency review aims to show you what people are saying about the company and the way they do business.

Here is a customer with an issue regarding their appraisal service:

“Went in for a quick estimate on how much to pay for a friend’s outside diamond and got told by owner that it was worth maybe $1,500 due to having several cracks. He even said he probably would place it in an ear ring. The same diamond was officially appraised at over $8,000 at another place!!! Will never go back.”– Jordan

The next review was on the other hand mostly positive:

“Staff is very dedicated and friendly. Occasionally some bargains can be found in their auctions; however, most items are expected to be paid in full.” – Michael

This individual too had a positive experience:

“I brought in a sterling silver necklace and seven old coins with a face value of $3.08 to walk out with $152. What about that? Certainly, Patt C.’s sister would goes, “why bother”. She might be humming a different tune if she’s cleaned out her coin wallet.

Really, those old jewelry and coins you have tossed into a drawer might be able to earn you some extra money for a night in town or even the holidays.

The friendly and knowledgeable staff there makes your transaction really fun.” – Steven

Overall ratings for Scotsman Coin and Currency appear to be fairly positive:

4.6/5 – Google Reviews

A+ – BBB

5/5 – Yelp (based on 2 reviews)

4/5 – Yellow Pages (based on 1 review}

Final Verdict

Basically Scotsman Coin and Currency appears to be quite a reputable business. Nevertheless, their lack of focus on investment grade precious metals and IRA services is really troubling. Although their auction service is rather interesting, if you do not get what you’re buying and whether it is IRS approved or not, it won’t do you much good either.

Therefore, I cannot really recommend the company unless you have good knowledge about these things or you’re doing business through qualified gold IRA custodians who can help you buy IRS approved metals.

The final scores for this review on Scotsman Coin and Currency are:

6/10 – as a precious metals dealer

1/10 – for IRA services

Scotsman Coin and Currency

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