Long-Term Investments (Tables) |
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| Long-Term Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Carrying Value and Ownership Percentage of Investment |
The following table shows the carrying value and ownership percentage of the Company's investment in each entity:
(1)
All of the Company's investees are accounted for using the equity method, with the exception of Company A, which is accounted for using the cost method.
(2)
In June 2022, the Company increased its ownership interest in Silver Gold Bull, Inc. from 7.4% to 47.4%, for a purchase price of $42.7 million, consisting of $34.0 million in cash and 253,928 shares of the Company’s common stock. In addition to our 40% increased ownership stake of Silver Gold Bull Inc., the Company received an option, which is exercisable from December 2023 to September 2024, to purchase an additional 27.6% of the outstanding equity of Silver Gold Bull, Inc. that could bring our ownership interest in Silver Gold Bull, Inc. to 75.0 %. The initial fair value of the option was $5.3 million, and was recorded as an allocation to the carrying value of this investment. The Company acquired its initial minority investment in January 2014.
(3)
In August 2021, the Company increased its ownership interest in Pinehurst Coin Exchange, Inc. from 10.0% to 49.0%, for a purchase price of $9.73 million, consisting of $6.75 million in cash and 123,180 shares of the Company’s common stock. The Company acquired its initial minority investment in January 2019.
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