A-Mark Precious Metals, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Assets and Liabilities, at Fair Value (Tables)

Assets and Liabilities, at Fair Value (Tables)

3 Months Ended

Sep. 30, 2022

Schedule of Carrying Amounts and Estimated Fair Value of AMCF Notes

The following table presents the carrying amounts and estimated fair values of the Company’s AMCF Notes as of September 30, 2022 and June 30, 2022:


in thousands
	September 30, 2022				June 30, 2022
	Carrying Amount		Fair value		Carrying Amount		Fair value
AMCF Notes	$	94,295	$	90,684	$	94,073	$	92,398

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about the Company's assets and liabilities measured at fair value on a recurring basis as of September 30, 2022 and June 30, 2022, aggregated by each fair value hierarchy level:


in thousands
	September 30, 2022
	Quoted
	Price in
	Active Markets		Significant Other		Significant
	for Identical		Observable		Unobservable
	Instruments		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Assets:
Inventories(1)	$	623,950	$	—	$	—	$	623,950
Precious metals held under financing arrangements		49,327		—		—		49,327
Derivative assets — open sale and purchase commitments, net		24,330		—		—		24,330
Derivative assets — futures contracts		1,774		—		—		1,774
Derivative assets — forward contracts		6,403		—		—		6,403
Option to purchase interest in a long-term investment		—		—		5,300		5,300
Total assets, valued at fair value	$	705,784	$	—	$	5,300	$	711,084
Liabilities:
Liabilities on borrowed metals	$	55,909	$	—	$	—	$	55,909
Product financing arrangements		167,009		—		—		167,009
Derivative liabilities — open sale and purchase commitments, net		80,453		—		—		80,453
Derivative liabilities — margin accounts		4,462		—		—		4,462
Derivative liabilities — futures contracts		25		—		—		25
Derivative liabilities — forward contracts		4,959		—		—		4,959
Total liabilities, valued at fair value	$	312,817	$	—	$	—	$	312,817

(1)

Commemorative coin inventory totaling $1,546 thousand is held at lower of cost or realizable value, and thus is excluded from the inventories balance shown in this table.


in thousands
	June 30, 2022
	Quoted
	Price in
	Active Markets		Significant Other		Significant
	for Identical		Observable		Unobservable
	Instruments		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Assets:
Inventories(1)	$	739,584	$	—	$	—	$	739,584
Precious metals held under financing arrangements		79,766		—		—		79,766
Derivative assets — open sale and purchase commitments, net		27,423		—		—		27,423
Derivative assets — futures contracts		20,245		—		—		20,245
Derivative assets — forward contracts		44,075		—		—		44,075
Option to purchase interest in a long-term investment		—		—		5,300		5,300
Total assets, valued at fair value	$	911,093	$	—	$	5,300	$	916,393
Liabilities:
Liabilities on borrowed metals	$	59,417	$	—	$	—	$	59,417
Product financing arrangements		282,671		—		—		282,671
Derivative liabilities — open sale and purchase commitments, net		70,564		—		—		70,564
Derivative liabilities — margin accounts		4,686		—		—		4,686
Derivative liabilities — forward contracts		530		—		—		530
Total liabilities, valued at fair value	$	417,868	$	—	$	—	$	417,868

(1)

Commemorative coin inventory totaling $1,434 thousand is held at lower of cost or net realizable value, and thus is excluded from the inventories balance shown in this table.