Secured Loans Receivable (Tables)
|
3 Months Ended |
Sep. 30, 2017 |
|---|
| Accounts, Notes, Loans and Financing Receivable [Line Items] |
|
| Schedule of receivables and secured loans |
Receivables consist of the following as of September 30, 2017 and June 30, 2017:
|
|
|
|
|
|
|
|
|
|
|
in thousands |
|
|
|
|
|
|
|
September 30, 2017 |
|
June 30, 2017 |
|
|
|
|
|
|
|
Customer trade receivables |
|
$ |
25,044 |
|
|
$ |
31,949 |
|
|
Wholesale trade advances |
|
12,697 |
|
|
2,457 |
|
|
Due from brokers |
|
4,422 |
|
|
4,919 |
|
|
Subtotal |
|
42,163 |
|
|
39,325 |
|
|
Less: allowance for doubtful accounts |
|
(30 |
) |
|
(30 |
) |
|
Receivables, net |
|
$ |
42,133 |
|
|
$ |
39,295 |
|
|
|
| Schedule of classes for financing receivables |
The Company's secured loans by portfolio class, which align with management reporting, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
in thousands |
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017 |
|
June 30, 2017 |
|
Bullion |
|
$ |
57,964 |
|
|
65.2 |
% |
|
$ |
61,767 |
|
|
67.7 |
% |
|
Numismatic and semi-numismatic |
|
30,907 |
|
|
34.8 |
|
|
29,471 |
|
|
32.3 |
|
|
|
|
$ |
88,871 |
|
|
100.0 |
% |
|
$ |
91,238 |
|
|
100.0 |
% |
|
|
| Financing receivable credit quality indicators |
The Company disaggregates its secured loans that are collateralized by precious metal products, as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
in thousands |
|
|
|
|
|
|
|
|
|
|
September 30, 2017 |
|
June 30, 2017 |
Loan-to-value of 75% or more |
|
$ |
65,909 |
|
|
74.2 |
% |
|
$ |
60,432 |
|
|
66.2 |
% |
Loan-to-value of less than 75% |
|
22,962 |
|
|
25.8 |
|
|
30,806 |
|
|
33.8 |
|
Secured loans collateralized by precious metal products |
|
$ |
88,871 |
|
|
100.0 |
% |
|
$ |
91,238 |
|
|
100.0 |
% |
|
| Financing Receivable |
|
| 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 September 30, 2017 and June 30, 2017:
|
|
|
|
|
|
|
|
|
|
|
in thousands |
|
|
|
|
|
|
|
September 30, 2017 |
|
June 30, 2017 |
|
|
|
|
|
|
|
Secured loans originated |
|
$ |
30,072 |
|
|
$ |
30,864 |
|
|
Secured loans originated - with a related party |
|
2,215 |
|
|
— |
|
|
|
|
32,287 |
|
|
30,864 |
|
|
Secured loans acquired |
|
56,584 |
|
(1) |
60,374 |
|
(2) |
Secured loans (current and long-term) |
|
$ |
88,871 |
|
|
$ |
91,238 |
|
|
(1) Includes $65,000 of loan premium as of September 30, 2017.
(2) Includes $72,000 of loan premium as of June 30, 2017.
|