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)

9 Months Ended

Mar. 31, 2021

Schedule of Carrying Amounts and Estimated Fair Value of Fixed-Rate Notes Payable

The following table presents the carrying amounts and estimated fair values of the Company’s fixed-rate notes payable of March 31, 2021 and June 30, 2020:

in thousands
	March 31, 2021				June 30, 2020
	Carrying Amount		Fair value		Carrying Amount		Fair value
Notes payable	$	93,060	$	101,391	$	92,517	$	101,017

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 March 31, 2021 and June 30, 2020, aggregated by the level in the fair value hierarchy within which the measurements fall:

in thousands
	March 31, 2021
	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⁾	$	560,793	$	—	$	—	$	560,793
Precious metals held under financing arrangements		160,988		—		—		160,988
Derivative assets — open sale and purchase commitments, net		28,394		—		—		28,394
Derivative assets — option contracts		67		—		—		67
Derivative assets — futures contracts		36,717		—		—		36,717
Derivative assets — forward contracts		5,147		—		—		5,147
Total assets, valued at fair value	$	792,106	$	—	$	—	$	792,106
Liabilities:
Liabilities on borrowed metals	$	109,735	$	—	$	—	$	109,735
Product financing arrangements		250,067		—		—		250,067
Derivative liabilities — open sale and purchase commitments, net		12,398		—		—		12,398
Derivative liabilities — margin accounts		2,192		—		—		2,192
Derivative liabilities — forward contracts		30		—		—		30
Total liabilities, valued at fair value	$	374,422	$	—	$	—	$	374,422

(1)	Commemorative coin inventory totaling $128 thousand is held at lower of cost or net realizable value, and thus is excluded from the inventories balance shown in this table.

in thousands
	June 30, 2020
	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⁾	$	321,264	$	—	$	—	$	321,264
Precious metals held under financing arrangements		178,577		—		—		178,577
Derivative assets — open sale and purchase commitments, net		46,224		—		—		46,224
Derivative assets — forward contracts		101		—		—		101
Total assets, valued at fair value	$	546,166	$	—	$	—	$	546,166
Liabilities:
Liabilities on borrowed metals	$	168,206	$	—	$	—	$	168,206
Product financing arrangements		74,678		—		—		74,678
Derivative liabilities — open sale and purchase commitments, net		4,349		—		—		4,349
Derivative liabilities — margin accounts		5,380		—		—		5,380
Derivative liabilities — futures contracts		12,477		—		—		12,477
Derivative liabilities — forward contracts		3,208		—		—		3,208
Total liabilities, valued at fair value	$	268,298	$	—	$	—	$	268,298

(1)	Commemorative coin inventory totaling $17 thousand is held at lower of cost or net realizable value, and thus is excluded from the inventories balance shown in this table.