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)

6 Months Ended

Dec. 31, 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 December 31, 2022 and June 30, 2022:


in thousands
	December 31, 2022				June 30, 2022
	Carrying Amount		Fair value		Carrying Amount		Fair value
AMCF Notes	$	94,528	$	91,110	$	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 December 31, 2022 and June 30, 2022, aggregated by each fair value hierarchy level:


in thousands
	December 31, 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)	$	921,341	$	—	$	—	$	921,341
Precious metals held under financing arrangements		57,287		—		—		57,287
Derivative assets — open sale and purchase commitments, net		41,673		—		—		41,673
Derivative assets — forward contracts		115		—		—		115
Option to purchase interest in a long-term investment		—		—		5,300		5,300
Total assets, valued at fair value	$	1,020,416	$	—	$	5,300	$	1,025,716
Liabilities:
Liabilities on borrowed metals	$	31,109	$	—	$	—	$	31,109
Product financing arrangements		347,260		—		—		347,260
Derivative liabilities — open sale and purchase commitments, net		13,473		—		—		13,473
Derivative liabilities — margin accounts		5,612		—		—		5,612
Derivative liabilities — futures contracts		9,184		—		—		9,184
Derivative liabilities — forward contracts		74,665		—		—		74,665
Total liabilities, valued at fair value	$	481,303	$	—	$	—	$	481,303

(1)

Commemorative coin inventory totaling $1.2 million 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 $1.4 million is held at lower of cost or net realizable value, and thus is excluded from the inventories balance shown in this table.