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Gold And Silver Bullion
 6 Months Ended
Jun. 30, 2015
Gold And Silver Bullion  
Gold And Silver Bullion

3. Gold and Silver Bullion

 

The Company periodically purchases gold and silver bullion on the open market for investment purposes and to use in its dividend exchange program under which shareholders may exchange their cash dividend for gold and silver bullion. The Company’s investment in gold and silver bullion is carried at cost and evaluated at relevant financial reporting dates. 

 

During the six months ended June 30, 2015, the Company made no purchases of gold or silver bullion. The Company recorded write-downs on its gold and silver bullion totaling $0.1 million for the six months ended June 30, 2015. At June 30, 2015 and December 31, 2014, the Company’s holdings of bullion consisted of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015

 

2014

 

 

 

Gold

    

Silver

    

Gold

    

Silver

 

 

 

(in thousands, except ounces and per ounce )

 

Ounces

 

 
1,640

 

 
91,584

 

 
1,646

 

 
92,237

 

Carrying value per ounce

 

$
1,171.00

 

$
15.70

 

$
1,199.25

 

$
15.97

 

Total carrying value

 

$
1,920

 

$
1,438

 

$
1,974

 

$
1,473