Scotsman Coin and Currency Review
If you haven’t invested in a gold IRA you could be at risk of losing everything in today’s fickle economy. Gold IRAs not only keep your savings safe they also have a tendency to increase in value during harsh economic times making them an excellent investment choice.
In this Scotsman Coin and Currency review we will see how this company does business, what they have to offer, and if you should be doing business with them to protect your savings.
Services and Products
Despite the fact that Scotsman Coin and Currency’s website is a cluttered mess and hard to navigate I was able to determine that they buy and sell precious metals. Okay, maybe that was pretty obvious given their name.
As far as their inventory goes it is listed on their website in spreadsheet form with buy and sell prices. Some of their items have the word “quote” in place of an actual price so I’m guessing that means you have to call them for a quote on that item.
Scotsman Coin and Currency also sells fine jewelry but you will be redirected to another (much better designed) website for that.
They also have an auction program as well but it isn’t as simple as placing a bid like you would do with an eBay auction. There are quite a few rules, regulations and other stipulations that you must follow and you apparently have to register with their site to participate.
As far as IRA services go there is no mention of it on the website and no real info on investment grade metals.
In this section of our Scotsman Coin and Currency review we will see what people have to say about this company and how they do business.
This customer had an issue with their appraisal service:
“Went in with an outside diamond from a friend for a quick estimate on what to pay for it. Owner told me diamond had several cracks, was worth maybe $1,500, and he would probably place it in an ear ring. Got it officially appraised elsewhere at over $8,000!!! Will never go back.” – Jordan St. Clare from Google Reviews
This review however was mostly positive:
“A very dedicated and friendly staff. Some bargains can occasionally be found in their auctions, but expect to pay full price for most items.” – Michael Stutter from Google Reviews
This customer had a positive experience:
“I walked in with seven old coins with face value of $3.08 and a sterling silver necklace and walked out with $152. How do you like them $’s. Of course, Patt C.’s sister would say, “why bother”. If she’d clean out her coin purse, she might be singing a different song.
Check out those old coins and jewelry you’ve tossed in to a drawer they may be able to provide you with a night on the town or give you some extra money for the holidays.
The staff is knowledgeable and friendly, making your transaction fun.” – Steven B. from Yelp.com
Overall scores for Scotsman Coin and Currency seem to be fairly positive:
2/5 – Yelp (based on 2 reviews)
4.6/5 – Google Reviews
4/5 – Yellow Pages (based on 1 review)
A+ – BBB
Ultimately Scotsman Coin and Currency seems to be a reputable business. However their lack of focus on IRA services and investment grade precious metals is troubling. While their auction service is pretty interesting it won’t do you much good if you don’t understand what your purchasing and whether or not it is IRS approved for your IRA.
I can’t really recommend Scotsman Coin and Currency unless you are knowledgeable about these things or unless you are doing business through a qualified gold IRA custodian who can help you purchase IRS approved metals.
The final score for this Scotsman Coin and Currency review is:
1/10 – for IRA services
6/10 – as a precious metals dealer
When it comes to gold investment companies that specialize in protecting your savings from volatile economic factors in a gold IRA, my top recommendation is Regal Assets.
In addition to having perfect scores with companies such as the BBB, BCA, TrustLink, and others, Regal Assets is endorsed by big names such as Dennis Miller, Lars Larson, and Jerry Doyle.
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