Quarterly report pursuant to Section 13 or 15(d)

Secured Loans Receivables (Tables)

v3.4.0.3
Secured Loans Receivables (Tables)
9 Months Ended
Mar. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Schedule of receivables and secured loans
Receivables consist of the following as of March 31, 2016 and June 30, 2015:
in thousands
 
 
 
 
 
 
 
March 31, 2016
 
June 30, 2015
 
 
 
 
 
 
 
Customer trade receivables
 
$
3,207

 
$
11,835

 
Wholesale trade advances
 
16,425

 
12,164

 
Due from brokers
 
6,326

 
6,056

 
Subtotal
 
25,958

 
30,055

 
Less: allowance for doubtful accounts
 
(30
)
 
(30
)
 
Receivables, net
 
$
25,928

 
$
30,025

 
Allowance for Doubtful Accounts
Allowances for doubtful accounts are recorded based on specifically identified receivables, which the Company has identified as potentially uncollectible. A summary of the activity in the allowance for doubtful accounts is as follows:
in thousands
 
 
 
 
 
 
 
 
 
Period ended:
 
Beginning Balance
 
Provision
 
Charge-off
 
Ending Balance
 
Nine Months Ended March 31, 2016
 
$
30

 
$

 
$

 
$
30

 
Year Ended June 30, 2015
 
$
30

 
$

 
$

 
$
30

 
Schedule of classes for financing receivables
The Company's secured loans by portfolio class, which align with management reporting, are as follows:
in thousands
 
 
 
 
 
 
 
 
 
 
 
March 31, 2016
 
June 30, 2015
 
Bullion
 
$
25,212

 
38.9
%
 
$
16,250

 
33.0
%
 
Numismatic and semi numismatic
 
38,815

 
59.9

 
32,216

 
65.3

 
Subtotal
 
64,027

 
98.8

 
48,466

 
98.3

 
Other pledged assets(1)
 
800

 
1.2

 
850

 
1.7

 
Total secured loans
 
$
64,827

 
100.0
%
 
$
49,316

 
100.0
%
 
_________________________________
(1
)
 
Includes secured loans that are collateralized by borrower's assets, which are not exclusively precious metal products.
 

Financing receivable credit quality indicators
The Company disaggregates its secured loans that are collateralized by precious metal products, as follows:
in thousands
 
 
 
 
 
 
 
 
 
 
March 31, 2016
 
June 30, 2015
Loan-to-value of 75% or more (1)
 
$
15,303

 
23.9
%
 
$
17,153

 
35.4
%
Loan-to-value of less than 75% (1)
 
48,724

 
76.1

 
31,313

 
64.6

Secured loans collateralized by precious metal products (1)
 
$
64,027

 
100.0
%
 
$
48,466

 
100.0
%
_________________________________
(1
)
 
Excludes secured loans that are collateralized by borrower's assets, which are not exclusively precious metal products.
 
Financing Receivable [Member]  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Schedule of receivables and secured loans
Below is a summary of the carrying-value of our secured loans as of March 31, 2016 and June 30, 2015:
in thousands
 
 
 
 
 
 
 
March 31, 2016
 
June 30, 2015
 
 
 
 
 
 
 
Secured loans originated
 
$
40,756

 
$
36,778

 
Secured loans originated - with a related party
 
1,363

 

 
 
 
42,119

 
36,778

 
Secured loans acquired
 
22,708

(1) 
12,538

(2) 
Secured loans (current and long-term)
 
$
64,827

 
$
49,316

 
_________________________________
(1)    Includes $86,000 of amortized loan premium as of March 31, 2016.
(2)    Includes $99,000 of amortized loan premium as of June 30, 2015.