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Inventories, Net
 9 Months Ended
Sep. 30, 2024
Inventory Disclosure [Abstract]  
Inventories, Net INVENTORIES, NET
A summary of Inventories, net is as follows:
September 30, 2024December 31, 2023
Finished products$55,808 $62,798 
In-process36,211 34,376 
Raw materials67,074 68,895 
Fine and fabricated precious metal in various stages of completion
52,015 36,393 
211,108 202,462 
LIFO reserve(394)(168)
Total$210,714 $202,294 

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 last-in-first-out ("LIFO") cost or market value, with any adjustments recorded through Cost of goods sold. Remaining precious metal inventory is accounted for primarily at fair value.

The Company obtains certain precious metals under a fee consignment agreement. As of September 30, 2024 and December 31, 2023, the Company had approximately $39,692 and $30,242, respectively, of precious metals, principally silver, under consignment, which are recorded at fair value in Inventories, net with a corresponding liability for the same amount recorded 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.
September 30, 2024December 31, 2023
Supplemental inventory information:
Precious metals stated at LIFO cost$3,919 $2,113 
Precious metals stated under non-LIFO cost methods, primarily at fair value$47,702 $34,112 
Market price per ounce:
Silver$31.63 $23.93 
Gold$2,653.47 $2,069.11 
Platinum$1,013.51 $998.58 
Palladium$1,025.82 $1,108.32