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, 2015

Schedule of financial instruments not required to be carried at fair value

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments as of September 30, 2015 and June 30, 2015.



in thousands
	September 30, 2015				June 30, 2015
	Carrying Amount		Fair value		Carrying Amount		Fair value

Financial assets:
Cash	$	5,044	$	5,044	$	20,927	$	20,927
Receivables, and advances, net	47,899		47,899		30,025		30,025
Secured loans	50,416		50,416		49,316		49,316
Derivative assets - open sale and purchase commitments, net	7,508		7,508		1,722		1,722
Derivative assets - futures contracts	2,842		2,842		5,363		5,363
Derivative assets - forward contracts	276		276		4,279		4,279
Income taxes receivable from Former Parent	1,095		1,095		1,095		1,095
Financial liabilities:
Lines of credit	$	176,900	$	176,900	$	147,000	$	147,000
Liability for borrowed metals	4,009		4,009		9,500		9,500
Product financing obligation	50,030		50,030		39,425		39,425
Derivative liabilities - liability on margin accounts	6,367		6,367		6,908		6,908
Derivative liabilities - open sale and purchase commitments, net	6,183		6,183		10,989		10,989
Derivative liabilities - forward contracts	343		343		—		—
Accounts payable, advances and other payables	78,499		78,499		50,639		50,639
Accrued liabilities	4,242		4,242		5,330		5,330

Schedule of fair value, assets and liabilities measured 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, 2015 and June 30, 2015 aggregated by the level in the fair value hierarchy within which the measurements fall:



	September 30, 2015
	Quoted Price in
	Active Markets		Significant Other		Significant
	for Identical		Observable		Unobservable
	Instruments		Inputs		Inputs
in thousands	(Level 1)		(Level 2)		(Level 3)		Total Balance
Assets:
Inventory ⁽¹⁾	$	254,343	$	—	$	—	$	254,343
Derivative assets — open sale and purchase commitments, net	7,508		—		—		7,508
Derivative assets — futures contracts	2,842		—		—		2,842
Derivative assets — forward contracts	276		—		—		276
Total assets valued at fair value	$	264,969	$	—	$	—	$	264,969
Liabilities:
Liability on borrowed metals	$	4,009	$	—	$	—	$	4,009
Product financing arrangement	50,030		—		—		50,030
Derivative liabilities — Liability on margin accounts	6,367		—		—		6,367
Derivative liabilities — open sales and purchase commitments, net	6,183		—		—		6,183
Derivative liabilities — forward contracts	343		—		—		343
Total liabilities, valued at fair value	$	66,932	$	—	$	—	$	66,932

____________________

⁽¹⁾ Commemorative coin inventory totaling $0.2 million is held at lower of cost or market and is thus excluded from this table.



	June 30, 2015
	Quoted Price in
	Active Markets		Significant Other		Significant
	for Identical		Observable		Unobservable
	Instruments		Inputs		Inputs
in thousands	(Level 1)		(Level 2)		(Level 3)		Total Balance
Assets:
Inventory ⁽¹⁾	$	189,983	$	—	$	—	$	189,983
Derivative assets — open sale and purchase commitments, net	1,722		—		—		1,722
Derivative assets — futures contracts	5,363		—		—		5,363
Derivative assets — forward contracts	4,279		—		—		4,279
Total assets, valued at fair value	$	201,347	$	—	$	—	$	201,347
Liabilities:
Liability on borrowed metals	$	9,500	$	—	$	—	$	9,500
Product financing arrangement	39,425		—		—		39,425
Derivative liabilities — Liability on margin accounts	6,908		—		—		6,908
Derivative liabilities — open sale and purchase commitments, net	10,989		—		—		10,989
Total liabilities valued at fair value	$	66,822	$	—	$	—	$	66,822