The Scotsman Trading Sheet is a valuable resource provided by Scotsman Coin and Jewelry (scoins.com) for tracking current precious metals prices. Their trading sheet lists up-to-date buy and sell prices for gold, silver, platinum, and palladium in various forms. This guide will explain how to read and utilize the Scotsman Trading Sheet to inform your bullion buying and selling decisions.
Overview of Scotsman Coin
Scotsman Coin and Jewelry is a respected precious metals dealer located in St. Louis, MO. Founded in 1959, they provide retail over-the-counter precious metals sales and host auctions of rare coins. Their trading sheet contains the real-time precious metals prices offered for retail customers.
The sheet is updated daily based on live market rates. Scotsman Coin’s prices closely track the spot prices and premiums charged by top dealers. Monitoring the sheet helps investors make informed decisions on when to buy or sell metals based on short-term price movements.
Locating the Current Scotsman Trading Sheet
The latest Scotsman Trading Sheet can be found at scoins.com/pricelist/tradingsheet. This page has convenient links near the top for downloading the sheet as a PDF or Excel file.
Scotsman Coin also posts photos of the printed trading sheet daily on their Facebook page. However, the PDF/Excel downloads provide the most up-to-date prices.
Key Sections of the Trading Sheet
The Scotsman Trading Sheet contains two main sections – one for buy prices and one for sell prices.
The Buy Price column shows what Scotsman Coin is currently paying customers for various gold, silver, platinum, and palladium coins and bullion products.
The Sell Price column lists prices at which customers can purchase those same products over the counter from Scotsman Coin.
For both sections, prices are provided based on quantity tier – 1-9 ounces, 10-49 ounces (Bullion Club), and 50+ ounces. Larger volume purchases get better rates.
Reading Gold and Silver Prices
Let’s take a look at how to interpret Scotsman Coin’s trading sheet for gold and silver:
- The top lists urgent spot prices for gold and silver by ounce, plus the gold:silver ratio.
- Next are prices for gold and silver American Eagle coins in various formats like 1 oz or 1/10 oz.
- Further down are buy/sell prices for popular gold coins like Krugerrands, Maples, Philharmonics, etc.
- For silver, the sheet lists rounds, bars, and bags of U.S. junk silver coins.
- The bottom has prices for exotic metals like platinum and palladium.
By scanning the full list, you can identify the best deals based on product, quantity, and metal market swings. Compare to APMEX or Kitco dealer prices for context.
Utilizing the Scotsman Trading Sheet
Savvy precious metals investors use the Scotsman Trading Sheet for:
- Spotting good times to buy gold/silver coins or bullion at low premiums when prices dip.
- Knowing exact sell prices to recoup when downsizing a stack or taking profits after price jumps.
- Negotiating fair deals for private party precious metals sales using the sheet as reference.
- Evaluating bids when selling coins through auction houses.
- Determining if trading up gold ounces for smaller fractional silver coins is profitable.
- Calibrating prices for placing limit orders on Ebay or other marketplaces.
- Comparing against major competitor dealer prices for the best deals.
Buying and Selling Using the Scotsman Trading Sheet
Here are some examples of using the sheet during bullion buying and selling:
- Buying – The sheet shows gold Philharmonics under spot at low premiums. Lock in a good price in anticipation of a rebound.
- Selling – Silver just spiked over $25/oz. The sheet indicates selling now nets the most cash.
- Auction Bids – A Morgan dollar is auctioning for $30. Scotsman will pay $25, so don’t bid higher.
- Private Sale – Use the sheet’s junk silver prices to offer a fair deal to the neighborhood coin collector.
- Trading Up – Sheet shows you can swap each gold ounce for 80 silver ounces profitably today.
Understanding how to read and leverage the live prices on Scotsman Coin’s trading sheet can provide metals investors with an edge. Follow the sheet regularly and act when premiums drop or prices surge to maximize the value of your bullion buys and sells. Use it as an official reference when buying, selling, and trading.