INVENTORIES, NET

A summary of Inventories, net is as follows:



	December 31, 2018			December 31, 2017
Finished products	$	55,723		$	49,053
In-process	25,392			25,037
Raw materials	58,569			53,015
Fine and fabricated precious metal in various stages of completion	20,790			16,757
	160,474			143,862
LIFO reserve	(1,624		)	(1,227		)
Total	$	158,850		$	142,635

Fine and Fabricated Precious Metal Inventory

In order to produce certain of its products, the Company purchases, maintains and utilizes precious metal inventory. The Company records certain precious metal inventory at the lower of LIFO cost or market, with any adjustments recorded through Cost of goods sold. Remaining precious metal inventory is accounted for primarily at fair value.

During the third quarter of 2017, the Company began obtaining certain precious metals under a $29,500 fee consignment agreement with the Bank of Nova Scotia ("ScotiaBank"). As of December 31, 2018 and 2017, the Company had approximately $6,700 and $8,100 of silver under consignment with ScotiaBank, respectively, which are recorded at fair value in Inventories, net with a corresponding liability for the same amount included in Accounts payable on the Company's consolidated balance sheets. Fees charged under the consignment agreement are recorded in Interest expense in the Company's consolidated statements of operations.



	December 31, 2018		December 31, 2017
Supplemental inventory information:
Precious metals stated at LIFO cost	$	9,538	$	4,897
Precious metals stated under non-LIFO cost methods, primarily at fair value	9,628		10,633
Market value per ounce:
Silver	15.51		17.01
Gold	1,281.65		1,296.50
Palladium	1,263.00		1,056.00