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

Annual report pursuant to Section 13 and 15(d)

Long-Term Investments

Long-Term Investments

12 Months Ended

Jun. 30, 2024

10. LONG-TERM INVESTMENTS

The following table shows the carrying value and ownership percentage of the Company's investment in each privately-held entity accounted for either under the equity or cost method (in thousands):


	June 30, 2024						June 30, 2023
Investee	Carrying Value		Ownership Percentage				Carrying Value		Ownership Percentage
Silver Gold Bull, Inc.	$	—		—	%	(1)	$	44,699		47.4	%
Pinehurst Coin Exchange, Inc.		17,503		49.0	%			15,999		49.0	%
Sunshine Minting, Inc.		18,603		44.9	%			17,719		44.9	%
Company A		283		33.3	%			233		33.3	%
Company B		2,036		50.0	%			2,005		50.0	%
Texas Precious Metals, LLC		7,236		12.0	%			5,465		12.0	%
Atkinsons Bullion & Coins		2,783		25.0	%			2,415		25.0	%
APS Investment, LLC		2,014		33.3	%	(2)		—		—	%
	$	50,458					$	88,535

(1)

In June 2024, the Company acquired a controlling interest in SGB; see Note 1 for further information.

(2)

APS Investment, LLC is a holding company that owns a 10% equity interest in AMS Holding, LLC. Pinehurst Coin Exchange, Inc. and Stack's Bowers Numismatics, LLC also each own a one-third equity interest in APS Investment, LLC.

We consider all of our equity method investees to be related parties. See Note 14 for a summary of the Company's aggregate balances and activity with these related party entities. 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 and is not considered a related party.

For equity method investments with greater than 20% ownership, the carrying value at June 30, 2024 exceeded our share of the investees' book value by $10.4 million which is primarily attributable to goodwill and intangible assets.