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, 2020

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, 2020 and June 30, 2019:

in thousands

March 31, 2020

June 30, 2019

Carrying

Amount

Fair value

Carrying

Amount

Fair value

Notes payable

92,347

97,570

91,859

98,609

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, 2020 and June 30, 2019, aggregated by the level in the fair value hierarchy within which the measurements fall:

in thousands
	March 31, 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⁾	$	413,049	$	—	$	—	$	413,049
Precious metals held under financing arrangements		187,005		—		—		187,005
Derivative assets — open sale and purchase commitments, net		10,023		—		—		10,023
Derivative assets — futures contracts		22,620		—		—		22,620
Derivative assets — forward contracts		20,438		—		—		20,438
Total assets, valued at fair value	$	653,135	$	—	$	—	$	653,135
Liabilities:
Liabilities on borrowed metals	$	178,604	$	—	$	—	$	178,604
Product financing arrangements		122,126		—		—	$	122,126
Derivative liabilities — price protection programs		—		—		8		8
Derivative liabilities — margin accounts		2,781		—		—		2,781
Derivative liabilities — open sale and purchase commitments, net		35,756		—		—		35,756
Derivative liabilities — futures contracts		470		—		—		470
Derivative liabilities — forward contracts		517		—		—		517
Total liabilities, valued at fair value	$	340,254	$	—	$	8	$	340,262

(1)	Commemorative coin inventory totaling $80 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, 2019
	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⁾	$	292,844	$	—	$	—	$	292,844
Precious metals held under financing arrangements		208,792		—		—		208,792
Derivative assets — open sale and purchase commitments, net		2,322		—		—		2,322
Derivative assets — option contracts		61		—		—		61
Derivative assets — futures contracts		43		—		—		43
Derivative assets — forward contracts		2		—		—		2
Total assets, valued at fair value	$	504,064	$	—	$	—	$	504,064
Liabilities:
Liabilities on borrowed metals	$	201,144	$	—	$	—	$	201,144
Product financing arrangements		94,505		—		—		94,505
Derivative liabilities — price protection programs		—		—		22		22
Derivative liabilities — margin accounts		2,981		—		—		2,981
Derivative liabilities — open sale and purchase commitments, net		3,822		—		—		3,822
Derivative liabilities — futures contracts		1,241		—		—		1,241
Derivative liabilities — forward contracts		1,905		—		—		1,905
Total liabilities, valued at fair value	$	305,598	$	—	$	22	$	305,620

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