Annual report pursuant to Section 13 and 15(d)

Secured Loans Receivable (Tables)

v3.5.0.2
Secured Loans Receivable (Tables)
12 Months Ended
Jun. 30, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Schedule of receivables and secured loans
Receivables consist of the following as of June 30, 2016 and June 30, 2015:
in thousands
 
 
 
 
 
 
 
June 30, 2016
 
June 30, 2015
 
 
 
 
 
 
 
Customer trade receivables
 
$
4,001

 
$
11,835

 
Wholesale trade advances
 
11,860

 
12,164

 
Due from brokers
 
27,471

 
6,056

 
Subtotal
 
43,332

 
30,055

 
Less: allowance for doubtful accounts
 
(30
)
 
(30
)
 
Receivables, net
 
$
43,302

 
$
30,025

 
Allowances for doubtful accounts are recorded based on specifically identified receivables, which the Company has identified as potentially uncollectible. A summary of the activity in the allowance for doubtful accounts is as follows:
in thousands
 
 
 
 
 
 
 
 
 
Period ended:
 
Beginning Balance
 
Provision
 
Charge-off
 
Ending Balance
 
Year Ended June 30, 2016
 
$
30

 
$

 
$

 
$
30

 
Year Ended June 30, 2015
 
$
30

 
$

 
$

 
$
30

 
Schedule of classes for financing receivables
The Company's secured loans by portfolio class, which align with management reporting, are as follows:
in thousands
 
 
 
 
 
 
 
 
 
 
 
June 30, 2016
 
June 30, 2015
 
Bullion
 
$
35,168

 
49.9
%
 
$
16,250

 
33.0
%
 
Numismatic and semi numismatic
 
34,636

 
49.1

 
32,216

 
65.3

 
Subtotal
 
69,804

 
99.0

 
48,466

 
98.3

 
Other pledged assets(1)
 
700

 
1.0

 
850

 
1.7

 
Total secured loans
 
$
70,504

 
100.0
%
 
$
49,316

 
100.0
%
 
_________________________________
(1
)
 
Includes secured loans that are collateralized by borrower's assets, which are not exclusively precious metal products.
 

Financing receivable credit quality indicators
The Company disaggregates its secured loans that are collateralized by precious metal products, as follows:
in thousands
 
 
 
 
 
 
 
 
 
 
June 30, 2016
 
June 30, 2015
Loan-to-value of 75% or more (1)
 
$
10,231

 
14.7
%
 
$
17,153

 
35.4
%
Loan-to-value of less than 75% (1)
 
59,573

 
85.3

 
31,313

 
64.6

Secured loans collateralized by precious metal products (1)
 
$
69,804

 
100.0
%
 
$
48,466

 
100.0
%
_________________________________
(1
)
 
Excludes secured loans that are collateralized by borrower's assets, which are not exclusively precious metal products.
 
Financing Receivable  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Schedule of receivables and secured loans
Below is a summary of the carrying-value of our secured loans as of June 30, 2016 and June 30, 2015:
in thousands
 
 
 
 
 
 
 
June 30, 2016
 
June 30, 2015
 
 
 
 
 
 
 
Secured loans originated
 
$
36,280

 
$
36,778

 
Secured loans originated - with a related party
 
1,370

 

 
 
 
37,650

 
36,778

 
Secured loans acquired
 
32,854

(1) 
12,538

(2) 
Secured loans (current and long-term)
 
$
70,504

 
$
49,316

 
_________________________________
(1)    Includes $86,000 of amortized loan premium as of June 30, 2016.
(2)    Includes $99,000 of amortized loan premium as of June 30, 2015.