14. RELATED PARTY TRANSACTIONS

Related parties include entities which the Company controls or has the ability to significantly influence, and entities which are under common control with the Company. Related parties also include persons who are affiliated with related entities or the Company who are in a position to influence corporate decisions (such as owners, executives, board members and their families). In the normal course of business, we enter into transactions with our related parties. Below is a list of related parties with whom we have had significant transactions during the presented periods:

Our related party transactions primarily include (i) sales and purchases of precious metals, (ii) financing activities, (iii) repurchase arrangements, and (iv) hedging transactions. Below is a summary of our related party transactions. The amounts presented for each period reflect each entity’s related party status for that period.

Balances with Related Parties

Receivables and Payables, Net

Long-term Investments

As of December 31, 2023 and June 30, 2023, the aggregate carrying balance of the equity method investments was $91.6 million and $88.3 million, respectively. (See Note 10.)

Other Long-term Assets

As of December 31, 2023 and June 30, 2023, the fair value of the option to purchase an additional 27.6% ownership interest in Silver Gold Bull, Inc. was $5.3 million and $5.3 million, respectively. This option was acquired in June 2022 in conjunction with the Company’s acquisition of an additional 40% ownership interest in Silver Gold Bull, Inc., and is exercisable between December 2023 and September 2024. As of December 31, 2023, this option remained unexercised. (See Note 10.)

Notes Payable

On April 1, 2021, CCP entered into a loan agreement ("CCP Note") with CFC, which provides CFC with up to $4.0 million to fund commercial loans secured by graded sports cards and sports memorabilia to its borrowers. All loans to be funded using the proceeds from the CCP Note are subject to CCP’s prior written approval. The term of the CCP Note expires on April 1, 2024 and may be extended by mutual agreement. As of December 31, 2023 and June 30, 2023 the outstanding principal balance of the CCP Note was $3.2 million and $0.5 million, respectively.

Activity with Related Parties

Sales and Purchases

Interest Income

Selling, General, and Administrative

The Company incurred selling, general, and administrative expense related to its subleasing agreement with Stack's Bower Galleries of $12,000 and $10,000 during the three months ended December 31, 2023 and 2022, respectively, and $24,000 and $10,000 during the six months ended December 31, 2023 and 2022, respectively.

Interest Expense

The Company incurred interest expense related to its note with CCP of $10,000 and $8,000 during the three months ended December 31, 2023 and 2022, respectively, and $12,000 and $23,000 during the six months ended December 31, 2023 and 2022, respectively.

Equity Method Investments — Earnings, Dividends and Distributions Received

The Company's proportional share of our equity method investee's net income totaled $0.8 million and $4.7 million during the three months ended December 31, 2023 and 2022, respectively, and $3.5 million and $7.3 million, during the six months ended December 31, 2023 and 2022, respectively.

The Company received dividend and distribution payments from our equity method investees that totaled, in the aggregate, $0.0 million and $0.0 million during the three months ended December 31, 2023 and 2022, respectively, and $0.3 million and $0.6 million during the six months ended December 31, 2023 and 2022, respectively.

Other Income

The Company earned royalty and consulting services income from related parties that totaled $0.4 million and $0.8 million during the three months ended December 31, 2023 and 2022, respectively, and $0.7 million and $1.4 million during the six months ended December 31, 2023 and 2022, respectively.