Assets and Liabilities, at Fair Value (Tables)

6 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

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, aggregated by each fair value hierarchy level (in thousands):


		December 31, 2025
		Quoted Price in Active Markets for Identical Instruments (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
Assets:
Inventories(1)		$	1,459,653			$	—			$	—			$	1,459,653
Derivative assets — open sale and purchase commitments, net			935,465				—				—				935,465
Derivative assets — futures contracts			89				—				—				89
Derivative assets — forward contracts			12,107				—				—				12,107
Total assets, valued at fair value		$	2,407,314			$	—			$	—			$	2,407,314
Liabilities:
Liabilities on borrowed metals		$	85,606			$	—			$	—			$	85,606
Product financing arrangements			504,593				—				—				504,593
Derivative liabilities — open sale and purchase commitments, net			64,872				—				—				64,872
Derivative liabilities — margin accounts			14,346				—				—				14,346
Derivative liabilities — futures contracts			122,225				—				—				122,225
Derivative liabilities — forward contracts			136,780				—				—				136,780
Acquisition-related contingent consideration			—				—				2,109				2,109
Stock payable liability			1,140				—				—				1,140
Total liabilities, valued at fair value		$	929,562			$	—			$	2,109			$	931,671

(1)

Collectible coin inventory totaling $76.1 million was held at lower of cost or net realizable value, and thus is excluded from the inventories balance shown in this table.


		June 30, 2025
		Quoted Price in Active Markets for Identical Instruments (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
Assets:
Inventories(1)		$	1,211,352			$	—			$	—			$	1,211,352
Derivative assets — open sale and purchase commitments, net			129,784				—				—				129,784
Derivative assets — futures contracts			4,326				—				—				4,326
Derivative assets — forward contracts			405				—				—				405
Total assets, valued at fair value		$	1,345,867			$	—			$	—			$	1,345,867
Liabilities:
Liabilities on borrowed metals		$	46,051			$	—			$	—			$	46,051
Product financing arrangements			484,733				—				—				484,733
Derivative liabilities — open sale and purchase commitments, net			15,495				—				—				15,495
Derivative liabilities — margin accounts			4,169				—				—				4,169
Derivative liabilities — futures contracts			109				—				—				109
Derivative liabilities — forward contracts			76,404				—				—				76,404
Acquisition-related contingent consideration			—				—				7,890				7,890
Stock payable liability			1,484				—				—				1,484
Total liabilities, valued at fair value		$	628,445			$	—			$	7,890			$	636,335

(1)

Collectible coin inventory totaling $68.2 million was held at lower of cost or net realizable value, and thus is excluded from the inventories balance shown in this table.