Quarterly report pursuant to Section 13 or 15(d)

Receivables

v3.19.3
Receivables
 3 Months Ended
Sep. 30, 2019
Receivables [Abstract]  
Receivables
RECEIVABLES
Receivables consist of the following as of September 30, 2019 and June 30, 2019:
in thousands
 
 
 
 
 
 
 
September 30, 2019
 
June 30, 2019
 
 
 
 
 
 
 
Customer trade receivables
 
$
5,876

 
$
13,050

 
Wholesale trade advances
 
12,600

 
9,704

 
Due from brokers
 
5,167

 
4,141

 
Receivables, net
 
$
23,643

 
$
26,895

 
 
 
 
 
 
 

Customer Trade Receivables. Customer trade receivables represent short-term, non-interest bearing amounts due from precious metal sales, advances related to financing products, and other secured interests in assets of the customer.
Wholesale Trade Advances. Wholesale trade advances represent advances of various bullion products and cash advances for purchase commitments of precious metal inventory. Typically, these advances are unsecured, short-term, and non-interest bearing, and are made to wholesale metals dealers and government mints.
Due from Brokers. Due from brokers principally consists of the margin requirements held at brokers related to open futures contracts. (See Note 11.)