Going for the Gold at the Vault
Behind Sally’s Restaurant, at 16th between De Haro and Rhode Island streets, there’s a pair of Silver Meteor train cars. The north car — visible from the street —houses Vault Wholesale, a company founded in 2008 that deals in precious metals: gold, silver, and platinum. The company was started by Potrero Hill resident Joshua Abramson in 2008 when he partnered with eBay’s largest coin and collectible dealer. In 2009, Joshua brought on his brother, Joel, a former Tower Records executive who now serves as Vault Wholesale’s sales director. Via their website, www.vaultwholesale.com, and their eBay presence, Vault Wholesale sells precious metal investment pieces in all 50 states and 12 countries.
According to Abramson, he deals in “Wealth Insurance.” Gold, silver and platinum have historically been attractive as an alternative to “paper,” and are viewed as insurance in relation to traditional financial investment options. Vault Wholesale prides itself on its integrity and low pricing. Abramson is passionate about educating people regarding the precious metals market, and “Wants to bring a Blue State mentality to what is a Red State industry.”
Abramson is dedicated to making the industry more accessible to mainstream precious metals investors, rather than catering to the few high net worth individuals who bury their coins in their bomb shelters along with meals ready to eat. To get his message out, he hosts a video blog under the moniker “The Silver Fox,” on which he provides tips on industry trends.
Abramson said that he’ll beat any advertised price, has a buy back guarantee at market rates — as opposed to 50 cents on the dollar, like many other dealers — and takes the time to fully explain each investment. The Abramson brothers are so confident in their company that they list the URLs of their competitors on their own website. And they pride themselves on answering their phones seven days a week.
To further get the word out, as well as show off his unique 1947 Silver Meteor bar car office, Abramson plans on hosting twice monthly “salons,” gathering 15 to 20 like-minded people to eat, drink and have informal discussions about precious metals. The events will be co-hosted by local eateries and advertised through word of mouth, “Locals First” and on their website.
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