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, 2022

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 as of March 31, 2022 and June 30, 2021:


in thousands
	March 31, 2022				June 30, 2021
	Carrying Amount		Fair value		Carrying Amount		Fair value
Notes payable	$	93,859	$	96,047	$	93,249	$	100,724

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, 2022 and June 30, 2021, aggregated by each fair value hierarchy level:


in thousands
	March 31, 2022
	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)	$	763,155	$	—	$	—	$	763,155
Precious metals held under financing arrangements		87,450		—		—		87,450
Derivative assets — open sale and purchase commitments, net		25,389		—		—		25,389
Derivative assets — futures contracts		138		—		—		138
Derivative assets — forward contracts		446		—		—		446
Total assets, valued at fair value	$	876,578	$	—	$	—	$	876,578
Liabilities:
Liabilities on borrowed metals	$	67,824	$	—	$	—	$	67,824
Product financing arrangements		199,447		—		—		199,447
Derivative liabilities — open sale and purchase commitments, net		2,522		—		—		2,522
Derivative liabilities — margin accounts		4,081		—		—		4,081
Derivative liabilities — futures contracts		1,260		—		—		1,260
Derivative liabilities — forward contracts		16,920		—		—		16,920
Total liabilities, valued at fair value	$	292,054	$	—	$	—	$	292,054

(1)

Commemorative coin inventory totaling $1,108 thousand is held at lower of cost or realizable value, and thus is excluded from the inventories balance shown in this table.


in thousands
	June 30, 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)	$	457,613	$	—	$	—	$	457,613
Precious metals held under financing arrangements		154,742		—		—		154,742
Derivative assets — open sale and purchase commitments, net		38,340		—		—		38,340
Derivative assets — futures contracts		4,510		—		—		4,510
Derivative assets — forward contracts		1,686		—		—		1,686
Total assets, valued at fair value	$	656,891	$	—	$	—	$	656,891
Liabilities:
Liabilities on borrowed metals	$	91,866	$	—	$	—	$	91,866
Product financing arrangements		201,028		—		—		201,028
Derivative liabilities — open sale and purchase commitments, net		243		—		—		243
Derivative liabilities — margin accounts		2,806		—		—		2,806
Derivative liabilities — futures contracts		465		—		—		465
Derivative liabilities — forward contracts		4,025		—		—		4,025
Total liabilities, valued at fair value	$	300,433	$	—	$	—	$	300,433

(1)

Commemorative coin inventory totaling $406 thousand is held at lower of cost or net realizable value, and thus is excluded from the inventories balance shown in this table.