The Light Blues boss is also keen to keep trialist Sam Kelly at Ibrox but admits the midfielder would be a luxury addition to his squad.
Both Simonsen and Kelly have done well since joining Gers for training at Murray Park earlier this month.
As things stand, McCoist doesn’t have a club for Gallacher to go to for the sake of gaining more first-team experience but is hopeful that will change before the transfer window closes.
He has until Saturday night to arrange something there but could then conclude an agreement with Simonsen at any point after as the Englishman is currently a free agent.
Elsewhere, a central defender and a forward are McCoist’s priorities ahead of midfield, where Republic of Ireland youth cap Kelly plays.
The former Norwich and Everton player has made a big impression since coming north though and he could be retained anyway.
McCoist said: “Steve knows we would like to offer him something if we can get Scott out on loan to play games. It’s quite simple.
“Sam has showed up well too in training. I haven’t had a chance to speak to Craig Mather about him yet but I will to see if there’s a possibility we could maybe offer him something.
“I have said my priorities are at centre-forward and centre-half, there’s no doubt about that, and Sam doesn’t play either of those. He’d be a luxury but a nice one to have.”
McCoist, meanwhile, has confirmed Darren Cole has had his contract terminated this week and he is no longer at the club.
The defender was recently asked to stay away from Auchenhowie after he failed to report for a reserve friendly with junior outfit Cambuslang Rangers.
McCoist added: “Darren’s contract has been terminated and he goes with our best wishes. It’s a mutually agreeable situation and hopefully he progresses.”
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