Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

Financial assets and liabilities measured at fair value on recurring basis

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands):

	Fair Value at December 31, 2013
	Total		Level 1		Level 2		Level 3
Assets:
Marketable equity securities	$	14,521	$	14,521	$	—	$	—
Gold and silver put options	135		—		135		—
	$	14,656	$	14,521	$	135	$	—
Liabilities:
Palmarejo royalty obligation embedded derivative	$	40,338	$	—	$	—	$	40,338
Rochester NSR royalty obligation	21,630		—		—		21,630
Other derivative instruments, net	1,590		—		1,590		—
	$	63,558	$	—	$	1,590	$	61,968

	Fair Value at December 31, 2012
	Total		Level 1		Level 2		Level 3
Assets:
Short-term investments	$	999	$	999	$	—	$	—
Marketable equity securities	27,065		27,065		—		—
Put and call options	943		—		943		—
	$	29,007	$	28,064	$	943	$	—
Liabilities:
Palmarejo royalty obligation embedded derivative	$	145,098	$	—	$	145,098	$	—
Put and call options	9,299		—		9,299		—
	$	154,397	$	—	$	154,397	$	—

Changes in the fair value of the Comany's Level 3 financial liabilities

	Balance at the beginning of the period		Additions		Revaluation			Transfers from Level 2		Balance at the end of the period		Unrealized gains (losses) recognized in income statement
Palmarejo royalty obligation embedded derivative	$	—	$	—	$	(104,760	)	$	145,098	$	40,338	$	104,760
Rochester NSR royalty obligation	—		22,046		(416		)	—		21,630		416

Quantitative and qualitative information related to unobservable inputs

The following table sets forth the quantitative and qualitative information related to the unobservable inputs used in the calculation of the Company's non-recurring Level 3 fair value measurements:

Description	Valuation technique	Unobservable input	Range / Weighted Average
Property, plant, and equipment	Discounted cash flow	Discount rate	8.5% - 10.5%
		Long-term silver price	$25.00
		Long-term gold price	$1,450
Mining properties	Discounted cash flow	Discount rate	8.5% - 10.5%
		Long-term silver price	$25.00
		Long-term gold price	$1,450

Financial Assets and Liabilities not Measured at Fair Value

inancial assets and liabilities that are measured at book value in the financial statements at December 31, 2013 and December 31, 2012 are presented in the following table (in thousands):

	Fair Value at December 31, 2013
	Total		Level 1		Level 2		Level 3
Liabilities:
3.25% Convertible Senior Notes due 2028	$	5,067	$	5,067	$	—	$	—
7.875% Senior Notes due 2021	307,314		307,314		—		—
Palmarejo Gold Production Royalty Obligation	65,212		—		—		65,212

	Fair Value at December 31, 2012
	Total		Level 1		Level 2		Level 3
Liabilities:
3.25% Convertible Senior Notes due 2028	$	48,220	$	48,220	$	—	$	—
Palmarejo Gold Production Royalty Obligation	90,617		—		90,617		—