Table of Contents

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|--------|--------|--------|--------|--------|
|   |   |   |   |   |

|   |        |                                                                                         |
|---|--------|-----------------------------------------------------------------------------------------|
| R |   | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

|   |        |                                                                                          |
|---|--------|------------------------------------------------------------------------------------------|
| o |   | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

|                                  |        |                                   |
|----------------------------------|--------|-----------------------------------|
| Delaware(State of Incorporation) |   | 22-2365834(IRS Employer I.D. No.) |

|        |
|--------|
|   |

|        |
|--------|
|   |

|                                |                                |                                                                           |                                  |
|--------------------------------|--------------------------------|---------------------------------------------------------------------------|----------------------------------|
| Large accelerated filer o | Accelerated filer o  | Non-accelerated filer o(Do not check if a smaller reporting company) | Smaller reporting company R |

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|            |                       |                                                                                                               |        |
|------------|-----------------------|---------------------------------------------------------------------------------------------------------------|--------|
|       |                  |                                                                                                          | Page   |
| Part I.    | Financial Information |                                                                                                          |
|       |                  |                                                                                                          |   |
|       | Item 1.          | Condensed Consolidated Financial Statements (UNAUDITED):                                                      |   |
|       |                  |                                                                                                          |   |
|       |                  | Condensed Consolidated Balance Sheets as of December 31, 2010 and June 30, 2010                          | 3      |
|       |                  |                                                                                                          |   |
|       |                  | Condensed Consolidated Statements of Operations for the Three and Six Months Ended December 31, 2010 and 2009 | 4      |
|       |                  |                                                                                                          |   |
|       |                  | Condensed Consolidated Statements of Stockholders’ Equity for the Six Months Ended December 31, 2010.   | 5      |
|       |                  |                                                                                                          |   |
|       |                  | Condensed Consolidated Statements of Cash Flows for the Six Months ended December 31, 2010 and 2009           | 6      |
|       |                  |                                                                                                          |   |
|       |                  | Notes to Condensed Consolidated Financial Statements                                                          | 7      |
|       |                  |                                                                                                          |   |
|       | Item 2.          | Management’s Discussion and Analysis of Financial Condition and Results of Operations                   | 29     |
|       |                  |                                                                                                          |   |
|       | Item 3.          | Quantitative and Qualitative Disclosure About Market Risk                                                     | 38     |
|       |                  |                                                                                                          |   |
|       | Item 4.          | Controls and Procedures                                                                                       | 38     |
|       |                  |                                                                                                          |   |
| Part II.   | Other Information     | 39                                                                                                       |
|       |                  |                                                                                                          |   |
|       | Item 1.          | Legal Proceedings                                                                                             | 39     |
|       |                  |                                                                                                          |   |
|       | Item 1A.         | Risk Factors                                                                                                  | 39     |
|       |                  |                                                                                                          |   |
|       | Item 2.          | Unregistered Sales of Equity Securities and Use of Proceeds                                                   | 40     |
|       |                  |                                                                                                          |   |
|       | Item 3.               | Defaults Upon Senior Securities                                                                               | 40     |
|       |                  |                                                                                                          |   |
|       | Item 4.               | Submission of Matters to a Vote of Security Holders                                                           | 40     |
|       |                  |                                                                                                          |   |
|       | Item 5.          | Other Information                                                                                             | 40     |
|       |                  |                                                                                                          |   |
|       | Item 6.          | Exhibits                                                                                                      | 40     |
|       |                  |                                                                                                          |   |
| Signatures |                  |                                                                                                          |
|       |                  |                                                                                                          |   |
| Exhibits   |                  |                                                                                                          |
|       |                  |                                                                                                          |   |
|       | Exhibits 31.1         | Certification of Chief Executive Officer Under Section 302 of the Sarbanes-Oxley Act of 2002             |   |
|       |                  |                                                                                                          |   |
|       | Exhibits 31.2         | Certification of Chief Financial Officer Under Section 302 of the Sarbanes-Oxley Act of 2002             |   |
|       |                  |                                                                                                          |   |
|       | Exhibits 32.1         | Chief Executive Officer Certification Under Section 906 of the Sarbanes-Oxley Act of 2002                |   |
|       |                  |                                                                                                          |   |
|       | Exhibits 32.2         | Chief Financial Officer Certification Under Section 906 of the Sarbanes-Oxley Act of 2002                |   |

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Table of Contents

|                                                                                                                                                             |              |         |          |          |        |         |        |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|---------|----------|----------|--------|---------|--------|
|                                                                                                                                                        | December 31, |    | June 30, |
|                                                                                                                                                        | 2010         |    | 2010 (1) |
|                                                                                                                                                        | (Unaudited)  |    |     |
|                                                                                                                                                        |         |    |     |
| ASSETS                                                                                                                                                      |         |    |     |
| Current assets:                                                                                                                                             |         |    |     |
| Cash and cash equivalents                                                                                                                                   | $            | 38,073  |     |     | $      | 22,320  |   |
| Short-term investments and marketable securities                                                                                                            | 1,988        |    |     | 6,433    |   |
| Receivables and secured loans, net — trading operations                                                                                               | 68,459       |    |     | 42,901   |   |
| Accounts receivable and consignor advances, net — collectibles operations                                                                             | 11,725       |    |     | 6,127    |   |
| Inventory, net                                                                                                                                              | 169,926      |    |     | 138,077  |   |
| Prepaid expenses and other assets                                                                                                                           | 2,479        |    |     | 1,333    |   |
|                                                                                                                                                        |         |    |     |
| Total current assets                                                                                                                                        | 292,650      |    |     | 217,191  |   |
|                                                                                                                                                        |         |    |     |
| Property and equipment, net                                                                                                                                 | 2,310        |    |     | 2,277    |   |
| Goodwill                                                                                                                                                    | 5,940        |    |     | 5,942    |   |
| Other purchased intangibles, net                                                                                                                            | 5,687        |    |     | 5,948    |   |
| Other assets                                                                                                                                                | 390          |    |     | 259      |   |
| Income tax receivables                                                                                                                                      | 4,738        |    |     | 4,974    |   |
| Deferred tax assets                                                                                                                                         | 380          |    |     | 144      |   |
|                                                                                                                                                        |         |    |     |
| Total assets                                                                                                                                                | $            | 312,095 |     |     | $      | 236,735 |   |
|                                                                                                                                                        |         |    |     |
| LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                                                  |         |    |     |
| Current liabilities:                                                                                                                                        |         |    |     |
| Accounts payable, customer deposits and consignor payables                                                                                                  | $            | 73,149  |     |     | $      | 30,397  |   |
| Liability on borrowed metals                                                                                                                                | 10,118       |    |     | 40,841   |   |
| Accrued expenses and other current liabilities                                                                                                              | 10,087       |    |     | 13,411   |   |
| Accrued litigation settlement                                                                                                                               | —      |    |     | 2,697    |   |
| Income taxes payable                                                                                                                                        | 441          |    |     | 825      |   |
| Lines of credit                                                                                                                                             | 114,000      |    |     | 47,200   |   |
| Deferred tax liability                                                                                                                                      | 934          |    |     | 934      |   |
| Dividend payable to Auctentia                                                                                                                               | —      |    |     | 2,500    |   |
|                                                                                                                                                        |         |    |     |
| Total current liabilities                                                                                                                                   | 208,729      |    |     | 138,805  |   |
|                                                                                                                                                        |         |    |     |
| Deferred and other long term tax liabilities                                                                                                                | 8,451        |    |     | 7,794    |   |
| Other long term liabilities                                                                                                                                 | 302          |    |     | —  |   |
| Total liabilities                                                                                                                                           | 217,482      |    |     | 146,599  |   |
|                                                                                                                                                        |         |    |     |
| Commitments, contingencies and subsequent events                                                                                                            |         |    |     |
| Stockholders’ equity:                                                                                                                                 |         |    |     |
| Preferred stock, $.01 par value, authorized 10,000 shares; issued and outstanding: none                                                                     | —      |    |     | —  |   |
| Common stock, $.01 par value, authorized 40,000 shares; issued and outstanding: 32,439 and 31,893 at December 31, 2010 and June 30, 2010, respectively | 324          |    |     | 319      |   |
| Additional paid-in capital                                                                                                                                  | 241,716      |    |     | 241,615  |   |
| Accumulated other comprehensive income                                                                                                                      | 6,515        |    |     | 3,529    |   |
| Accumulated deficit                                                                                                                                         | (161,754     | )       |     | (162,350 | )      |
|                                                                                                                                                        |         |    |     |
| Total Spectrum Group International, Inc. stockholders’ equity                                                                                         | 86,801       |    |     | 83,113   |   |
|              Non-controlling interest                                                      | 7,812        |    |     | 7,023    |   |
| Total stockholders’ equity                                                                                                                            | 94,613       |    |     | 90,136   |   |
| Total liabilities and stockholders’ equity                                                                                                            | $            | 312,095 |     |     | $      | 236,735 |   |

|                             |                                                                                                                                                                                    |
|-----------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)     | The Condensed Consolidated Balance Sheet as of June 30, 2010 is from the audited Consolidated Financial Statements included in the Company's 2010 Annual Report on Form 10-K. |

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|                                                                       |                        |           |                        |           |                        |           |                        |        |        |           |        |        |   |           |        |
|-----------------------------------------------------------------------|------------------------|-----------|------------------------|-----------|------------------------|-----------|------------------------|--------|--------|-----------|--------|--------|---|-----------|--------|
|                                                                  | Three Months Ended     |      | Three Months Ended     |      | Six Months Ended       |      | Six Months Ended       |
|                                                                  | December 31, 2010 |      | December 31, 2009 |      | December 31, 2010 |      | December 31, 2009 |
|                                                                  |                   |      | (as restated)          |      |                   |      | (as restated)          |
| Revenues:                                                             |                   |      |                   |      |                   |      |                   |
| Sales of precious metals                                              | $                      | 1,655,313 |                   |      | $                      | 1,664,296 |                   |   | $      | 3,106,167 |   |   | $ | 2,593,176 |   |
| Collectibles revenues:                                                |                   |      |                   |      |                   |      |                   |
| Sales of inventory                                                    | 47,091                 |      |                   | 35,256    |                   |      | 88,799                 |   |   | 77,731    |   |
| Auction services                                                      | 8,010                  |      |                   | 5,764     |                   |      | 11,734                 |   |   | 10,847    |   |
| Total revenue                                                         | 1,710,414              |      |                   | 1,705,316 |                   |      | 3,206,700              |   |   | 2,681,754 |   |
| Cost of sales:                                                        |                   |      |                   |      |                   |      |                   |
| Cost of precious metals sold                                          | 1,649,018              |      |                   | 1,658,153 |                   |      | 3,096,220              |   |   | 2,582,713 |   |
| Cost of collectibles sold                                             | 43,894                 |      |                   | 32,215    |                   |      | 83,340                 |   |   | 71,810    |   |
|      Auction services expense                | 1,618                  |      |                   | 876       |                   |      | 2,213                  |   |   | 2,382     |   |
| Total cost of sales                                                   | 1,694,530              |      |                   | 1,691,244 |                   |      | 3,181,773              |   |   | 2,656,905 |   |
| Gross profit                                                          | 15,884                 |      |                   | 14,072    |                   |      | 24,927                 |   |   | 24,849    |   |
| Operating expenses:                                                   |                   |      |                   |      |                   |      |                   |
| General and administrative                                            | 5,606                  |      |                   | 4,852     |                   |      | 10,725                 |   |   | 10,535    |   |
| Salaries and wages                                                    | 5,914                  |      |                   | 7,810     |                   |      | 11,141                 |   |   | 13,867    |   |
| Depreciation and amortization                                         | 675                    |      |                   | 409       |                   |      | 1,051                  |   |   | 870       |   |
| Total operating expenses                                              | 12,195                 |      |                   | 13,071    |                   |      | 22,917                 |   |   | 25,272    |   |
| Operating income (loss)                                               | 3,689                  |      |                   | 1,001     |                   |      | 2,010                  |   |   | (423      | )      |
| Interest and other income (expense):                                  |                   |      |                   |      |                   |      |                   |
| Interest income                                                       | 2,344                  |      |                   | 1,727     |                   |      | 4,082                  |   |   | 3,120     |   |
| Interest expense                                                      | (1,103                 | )         |                   | (682      | )                      |      | (1,912                 | )      |   | (1,051    | )      |
| Other income (expense), net                                           | (364                   | )         |                   | (458      | )                      |      | (451                   | )      |   | 80        |   |
| Unrealized gain (loss) on foreign exchange                            | 678                    |      |                   | 484       |                   |      | (2,076                 | )      |   | (533      | )      |
| Total interest and other income (expense)                             | 1,555                  |      |                   | 1,071     |                   |      | (357                   | )      |   | 1,616     |   |
| Income before provision (benefit) for income taxes                    | 5,244                  |      |                   | 2,072     |                   |      | 1,653                  |   |   | 1,193     |   |
| Income taxes provision (benefit)                                      | 143                    |      |                   | (424      | )                      |      | 270                    |   |   | (1,984    | )      |
| Net income                                                            | 5,101                  |      |                   | 2,496     |                   |      | 1,383                  |   |   | 3,177     |   |
| Less: Net income attributable to the non-controlling interests        | (519                   | )         |                   | (482      | )                      |      | (787                   | )      |   | (895      | )      |
| Net income attributable to Spectrum Group International, Inc.         | $                      | 4,582     |                   |      | $                      | 2,014     |                   |   | $      | 596       |   |   | $ | 2,282     |   |
|                                                                  |                   |      |                   |      |                   |      |                   |
| Earnings per share attributable to Spectrum Group International, Inc. |                   |      |                   |      |                   |      |                   |
| Basic                                                                 | $                      | 0.14      |                   |      | $                      | 0.06      |                   |   | $      | 0.02      |   |   | $ | 0.07      |   |
| Diluted                                                               | $                      | 0.14      |                   |      | $                      | 0.06      |                   |   | $      | 0.02      |   |   | $ | 0.07      |   |
| Weighted average shares outstanding                                   |                   |      |                   |      |                   |      |                   |
| Basic                                                                 | 32,401                 |      |                   | 31,985    |                   |      | 32,394                 |   |   | 31,851    |   |
| Diluted                                                               | 32,913                 |      |                   | 32,953    |                   |      | 32,906                 |   |   | 32,819    |   |

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|                                                              |                        |        |                   |         |                            |        |                                        |        |                     |         |                                                                     |        |                          |        |                                  |         |                            |        |         |        |        |         |        |        |        |        |        |   |        |        |        |        |  |  |
|--------------------------------------------------------------|------------------------|--------|-------------------|---------|----------------------------|--------|----------------------------------------|--------|---------------------|---------|---------------------------------------------------------------------|--------|--------------------------|--------|----------------------------------|---------|----------------------------|--------|---------|--------|--------|---------|--------|--------|--------|--------|--------|---|--------|--------|--------|--------|--|--|
|                                                         | Common Stock in Shares |   | Common Stock in $ |    | Additional Paid-in Capital |   | Accumulated Other Comprehensive Income |   | Accumulated Deficit |    | Total Spectrum Group International, Inc. Stockholders’ Equity |   | Noncontrolling Interests |   | Total Stockholders’ Equity |    | Comprehensive Income(Loss) |
| Balance, June 30, 2010                                  | 31,893                 |   |              | $       | 319                        |   |                                   | $      | 241,615             |    |                                                                | $      | 3,529                    |   |                             | $       | (162,350                   | )      |    | $      | 83,113 |    |   | $      | 7,023  |   |   | $ | 90,136 |   |   |   |
| Net income                                                   | —                |   |              | — |                       |   | —                                |   |                | — |                                                                |   | 596                      |   |                             | 596     |                       |   | 787     |   |   | 1,383   |   |   | $      | 596    |   |
| Change in cumulative foreign currency translation adjustment | —                |   |              | — |                       |   | —                                |   |                | 2,986   |                                                                |   | —                  |   |                             | 2,986   |                       |   | — |   |   | 2,986   |   |   | 2,986  |   |
| Comprehensive income                                         | —                |   |              | — |                       |   | —                                |   |                | — |                                                                |   | —                  |   |                             | — |                       |   | — |   |   | — |   |   | $      | 3,582  |   |
| Taxes paid in exchange for cancellation of restricted shares | —                |   |              | — |                       |   | (151                                   | )      |                | — |                                                                |   | —                  |   |                             | (151    | )                          |   | — |   |   | (151    | )      |   |   |
| Share based compensation                                     | —                |   |              | — |                       |   | 257                                    |   |                | — |                                                                |   | —                  |   |                             | 257     |                       |   | — |   |   | 257     |   |   |   |
| Issuance of common stock for restricted stock grants         | 546                    |   |              | 5       |                       |   | (5                                     | )      |                | — |                                                                |   | —                  |   |                             | — |                       |   | — |   |   | — |   |   |   |
| Other                                                        | —                |   |              | — |                       |   | —                                |   |                | — |                                                                |   |                     |   |                             | — |                       |   | 2       |   |   | 2       |   |   |   |
| Balance, December 31, 2010                                   | 32,439                 |   |              | $       | 324                        |   |                                   | $      | 241,716             |    |                                                                | $      | 6,515                    |   |                             | $       | (161,754                   | )      |    | $      | 86,801 |    |   | $      | 7,812  |   |   | $ | 94,613 |   |   |   |

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Table of Contents

|                                                                                   |                        |        |                        |         |         |        |        |
|-----------------------------------------------------------------------------------|------------------------|--------|------------------------|---------|---------|--------|--------|
|                                                                              | Six Months Ended       |   | Six Months Ended       |
|                                                                              | December 31, 2010 |   | December 31, 2009 |
|                                                                              |                   |   | (as restated)          |
| Cash flows from operating activities:                                             |                   |   |                   |
| Net income                                                                        | $                      | 1,383  |                   |    | $       | 3,177  |   |
| Adjustments to reconcile net income to net cash provided by operating activities: |                   |   |                   |
| Unrealized loss on foreign currency                                               | 2,076                  |   |                   | 533     |    |
| Depreciation and amortization                                                     | 758                    |   |                   | 870     |    |
| Impairment of intangibles                                                         | 293                    |   |                   | — |    |
| Provision for bad debts                                                           | 44                     |   |                   | 328     |    |
| Provision for inventory reserve                                                   | 198                    |   |                   | 263     |    |
| Stock based compensation                                                          | 257                    |   |                   | 754     |    |
| Gain on sale of marketable securities                                             | —                |   |                   | (106    | )       |
| Loss on abandonment of property and equipment                                     | —                |   |                   | 114     |    |
| Changes in assets and liabilities:                                                |                   |   |                   |
| Accounts receivable and consignor advances                                        | (5,488                 | )      |                   | (423    | )       |
| Receivables and secured loans                                                     | (25,582                | )      |                   | (1,800  | )       |
| Inventory                                                                         | (31,977                | )      |                   | (13,787 | )       |
| Prepaid expenses and other assets                                                 | (1,229                 | )      |                   | (447    | )       |
| Liabilities on borrowed metals                                                    | (30,723                | )      |                   | 17,612  |    |
| Accounts payable, accrued expenses and other liabilities                          | 39,097                 |   |                   | (2,502  | )       |
| Income taxes                                                                      | 71                     |   |                   | (3,051  | )       |
| Deferred taxes                                                                    | 24                     |   |                   | 362     |    |
| Accrued litigation settlement                                                     | (2,697                 | )      |                   | — |    |
| Net cash provided (used in) by operating activities                               | (53,495                | )      |                   | 1,897   |    |
| Cash flows from investing activities:                                             |                   |   |                   |
| Capital expenditures for property and equipment                                   | (463                   | )      |                   | (455    | )       |
| Cash paid for acquisition, net of cash acquired                                   | —                |   |                   | (220    | )       |
| Maturity of short term investments                                                | 4,995                  |   |                   | 1,885   |    |
| Decrease in restricted cash                                                       | —                |   |                   | 650     |    |
| Sales of marketable securities                                                    | —                |   |                   | 848     |    |
| Net cash provided by investing activities                                         | 4,532                  |   |                   | 2,708   |    |
| Cash flows from financing activities:                                             |                   |   |                   |
| Borrowings under lines of credit, net                                             | 66,800                 |   |                   | (4,400  | )       |
| Taxes paid on behalf of employees with respect to vesting of restriced shares     | —                |   |                   | (110    | )       |
| Dividends paid to noncontrolling interest                                         | (2,500                 | )      |                   | (1,000  | )       |
| Net cash provided by(used in) financing activities                                | 64,300                 |   |                   | (5,510  | )       |
| Effects of exchange rates on cash                                                 | 416                    |   |                   | 294     |    |
| Net increase in cash and cash equivalents                                         | 15,753                 |   |                   | (611    | )       |
| Cash and cash equivalents, beginning of year                                      | 22,320                 |   |                   | 17,545  |    |
| Cash and cash equivalents, end of period                                          | $                      | 38,073 |                   |    | $       | 16,934 |   |
| Supplemental disclosures of cash flow information:                                |                   |   |                   |
| Cash paid during the period:                                                      |                   |   |                   |
| Interest expense                                                                  | $                      | 1,371  |                   |    | $       | 707    |   |
| Income taxes                                                                      | $                      | 491    |                   |    | $       | 701    |   |
| Non-cash items                                                                    |                   |   |                   |
| Accrued purchase consideration                                                    | $                      | 302    |                   |    | — |   |

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|                                                          |                                      |           |                |         |                |         |             |        |           |           |        |        |   |           |        |
|----------------------------------------------------------|--------------------------------------|-----------|----------------|---------|----------------|---------|-------------|--------|-----------|-----------|--------|--------|---|-----------|--------|
|                                                     | Three Months ended December 31, 2009 |
| in thousands                                             | As OriginallyReported                |      | Adjustment (1) |    | Adjustment (2) |    | AsCorrected |
| Revenue:                                                 |                                 |      |           |    |           |    |        |
| Sales of precious metals                                 | $                                    | 1,664,296 |           |    | $              | — |        |   | $         | —   |   |   | $ | 1,664,296 |   |
| Sales of inventory                                       | 37,444                               |      |           | (2,188  | )              |    | —     |   |      | 35,256    |   |
| Auction services                                         | 5,764                                |      |           | — |           |    | —     |   |      | 5,764     |   |
| Total revenue                                            | 1,707,504                            |      |           | (2,188  | )              |    | 0           |   | 1,705,316 |      |
| Cost of sales:                                           |                                 |      |           |    |           |    |        |
| Cost of precious metals sold                             | 1,658,153                            |      |           | — |           |    | —     |   |      | 1,658,153 |   |
| Cost of collectibles sold                                | 34,413                               |      |           | (2,188  | )              |    | (10         | )      | A         | 32,215    |   |
| Auction services expense                                 | —                              |      |           | — |           |    | 876         |   | A         | 876       |   |
| Total cost of sales                                      | 1,692,566                            |      |           | (2,188  | )              |    | 866         |   |      | 1,691,244 |   |
| Gross profit                                             | 14,938                               |      |           | — |           |    | (866        | )      |      | 14,072    |   |
| Operating expenses:                                      |                                 |      |           |    |           |    |        |
| General and administrative:                              | 5,597                                |      |           | — |           |    | (745        | )      | A         | 4,852     |   |
| Salaries and wages                                       | 7,931                                |      |           | — |           |    | (121        | )      | A         | 7,810     |   |
| Depreciation and amortization                            | 409                                  |      |           | — |           |    | —     |   |      | 409       |   |
| Total operating expenses                                 | 13,937                               |      |           | — |           |    | (866        | )      |      | 13,071    |   |
| Operating income                                         | 1,001                                |      |           | — |           |    | —     |   |      | 1,001     |   |
| Interest and other income (loss):                        |                                 |      |           |    |           |    |        |
| Interest income                                          | 1,476                                |      |           | — |           |    | 251         |   | B         | 1,727     |   |
| Interest expense                                         | (431                                 | )         |           | — |           |    | (251        | )      | B         | (682      | )      |
| Other income, net                                        | (458                                 | )         |           | — |           |    | —     |   |      | (458      | )      |
| Unrealized gain on foreign exchange                      | 484                                  |      |           | — |           |    | —     |   |      | 484       |   |
| Interest and other income                                | 1,071                                |      |           | — |           |    | —     |   |      | 1,071     |   |
| Income before income taxes and non-controlling interests | $                                    | 2,072     |           |    | $              | — |        |   | $         | —   |   |   | $ | 2,072     |   |

|                             |                                                                                                            |
|-----------------------------|------------------------------------------------------------------------------------------------------------|
| (1)     | Error previously disclosed in Note 1 to the Company's third quarter (March 31, 2010) filling on Form 10-Q. |

|                             |                                                                                                   |
|-----------------------------|---------------------------------------------------------------------------------------------------|
| (2)     | For this filing, the Company made additional reclassification as noted above and explained below: |

|                             |                                                                                                                                                                                                                                        |
|-----------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (A)     | Represents certain direct costs related to providing auction services and sales of collectibles reclassified from selling, general and administrative and salaries and wages to auction service expense and cost of collectibles sold. |

|                             |                                                                                                |
|-----------------------------|------------------------------------------------------------------------------------------------|
| (B)     | Reclassification of interest expense to properly breakout interest income and interest expense |

----

Table of Contents

|                                                          |                                    |           |                |         |                |         |             |        |        |           |        |        |   |           |        |
|----------------------------------------------------------|------------------------------------|-----------|----------------|---------|----------------|---------|-------------|--------|--------|-----------|--------|--------|---|-----------|--------|
|                                                     | Six Months ended December 31, 2009 |
| in thousands                                             | As OriginallyReported              |      | Adjustment (1) |    | Adjustment (2) |    | AsCorrected |
| Revenue:                                                 |                               |      |           |    |           |    |        |
| Sales of precious metals                                 | $                                  | 2,593,176 |           |    | $              | — |        |   | $      | —   |   |   | $ | 2,593,176 |   |
| Sales of inventory                                       | 79,919                             |      |           | (2,188  | )              |    | —     |   |   | 77,731    |   |
| Auction services                                         | 10,847                             |      |           |    |           | — |        |   | 10,847 |      |
| Total revenue                                            | 2,683,942                          |      |           | (2,188  | )              |    | —     |   |   | 2,681,754 |   |
| Cost of sales:                                           |                               |      |           |    |           |    |        |
| Cost of precious metals sold                             | 2,582,713                          |      |           | — |           |    | —     |   |   | 2,582,713 |   |
| Cost of collectibles sold                                | 73,779                             |      |           | (2,188  | )              |    | 219         |   | A      | 71,810    |   |
| Auction services expense                                 | —                            |      |           | — |           |    | 2,382       |   | A      | 2,382     |   |
| Total cost of sales                                      | 2,656,492                          |      |           | (2,188  | )              |    | 2,601       |   |   | 2,656,905 |   |
| Gross profit                                             | 27,450                             |      |           | — |           |    | (2,601      | )      |   | 24,849    |   |
| Operating expenses:                                      |                               |      |           |    |           |    |        |
| General and administrative:                              | 12,956                             |      |           | — |           |    | (2,421      | )      | A      | 10,535    |   |
| Salaries and wages                                       | 14,047                             |      |           | — |           |    | (180        | )      | A      | 13,867    |   |
| Depreciation and amortization                            | 870                                |      |           | — |           |    | —     |   |   | 870       |   |
| Total operating expenses                                 | 27,873                             |      |           | — |           |    | (2,601      | )      |   | 25,272    |   |
| Operating loss                                           | (423                               | )         |           | — |           |    | —     |   |   | (423      | )      |
| Interest and other income (loss):                        |                               |      |           |    |           |    |        |
| Interest income                                          | 2,869                              |      |           | — |           |    | 251         |   | B      | 3,120     |   |
| Interest expense                                         | (800                               | )         |           | — |           |    | (251        | )      | B      | (1,051    | )      |
| Other income, net                                        | 80                                 |      |           | — |           |    | —     |   |   | 80        |   |
| Unrealized (loss) on foreign exchange                    | (533                               | )         |           | — |           |    | —     |   |   | (533      | )      |
| Interest and other income                                | 1,616                              |      |           | — |           |    | —     |   |   | 1,616     |   |
| Income before income taxes and non-controlling interests | $                                  | 1,193     |           |    | $              | — |        |   | $      | —   |   |   | $ | 1,193     |   |

|                             |                                                                                                            |
|-----------------------------|------------------------------------------------------------------------------------------------------------|
| (1)     | Error previously disclosed in Note 1 to the Company's third quarter (March 31, 2010) filling on Form 10-Q. |

|                             |                                                                                                   |
|-----------------------------|---------------------------------------------------------------------------------------------------|
| (2)     | For this filing, the Company made additional reclassification as noted above and explained below: |

|                             |                                                                                                                                                                                                                                        |
|-----------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (A)     | Represents certain direct costs related to providing auction services and sales of collectibles reclassified from selling, general and administrative and salaries and wages to auction service expense and cost of collectibles sold. |

|                             |                                                                                                 |
|-----------------------------|-------------------------------------------------------------------------------------------------|
| (B)     | Reclassification of interest expense to properly breakout interest income and interest expense. |

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Table of Contents

|                                                |                                                             |         |            |         |                                                   |         |        |        |   |        |        |
|------------------------------------------------|-------------------------------------------------------------|---------|------------|---------|---------------------------------------------------|---------|--------|--------|---|--------|--------|
| in thousands                                   | As Originally Reported - Six Months Ended December 31, 2009 |    | Adjustment |    | As Corrected - Six Months Ended December 31, 2009 |
|                                           |                                                        |    |       |    |                                              |
| Net cash provided by operating activities      | $                                                           | (16,248 | )          |    | $                                                 | 18,145  |   |   | $ | 1,897  |   |
| Net cash provided by investing activities      | 2,708                                                       |    |       | — |                                              |    | 2,708  |   |
| Net cash (used in) financing activities        | 12,102                                                      |    |       | (17,612 | )                                                 |    | (5,510 | )      |
| Effects of exchange rates on cash              | 827                                                         |    |       | (533    | )                                                 |    | 294    |   |
| Net cash increase in cash and cash equivalents | (611                                                        | )       |       | — |                                              |    | (611   | )      |
| Cash and cash equivalents, beginning of year   | 17,545                                                      |    |       | — |                                              |    | 17,545 |   |
| Cash and cash equivalents, end of year         | $                                                           | 16,934  |       |    | $                                                 | — |   |   | $ | 16,934 |   |

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Table of Contents

|                                                                                    |        |                        |        |                        |        |        |       |        |
|------------------------------------------------------------------------------------|--------|------------------------|--------|------------------------|--------|--------|-------|--------|
|                                                                               |   | Six Months Ended       |   | Six Months Ended       |
| in thousands                                                                       |   | December 31, 2010 |   | December 31, 2009 |
|                                                                               |   |                   |   |                   |
|                                                                               |   |                   |   |                   |
| Net income                                                                         |   | $                      | 1,383  |                   |   | $      | 3,177 |   |
| Other comprehensive income (loss), net of tax:                                     |   |                   |   |                   |
| Changes in unrealized gain (loss) on marketable securities, net of tax        |   | —                |   |                   | (183   | )      |
| Foreign currency translation adjustment                                            |   | 2,986                  |   |                   | 827    |   |
| Other comprehensive income                                                         |   | 2,986                  |   |                   | 644    |   |
| Less: Total comprehensive income attributable to non-controlling interests         |   | (787                   | )      |                   | (895   | )      |
| Total comprehensive income attributable to Spectrum Group International, Inc. |   | $                      | 3,582  |                   |   | $      | 2,926 |   |

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Table of Contents

|                                                                                                               |                        |        |                        |        |                        |        |                        |        |        |        |        |
|---------------------------------------------------------------------------------------------------------------|------------------------|--------|------------------------|--------|------------------------|--------|------------------------|--------|--------|--------|--------|
|                                                                                                          | Three Months Ended     |   | Three Months Ended     |   | Six Months Ended       |   | Six Months Ended       |
| in thousands                                                                                                  | December 31, 2010 |   | December 31, 2009 |   | December 31, 2010 |   | December 31, 2009 |
|                                                                                                          |                   |   |                   |   |                   |   |                   |
| Basic weighted average shares outstanding (1) (2)                                                             | 32,401                 |   |                   | 31,985 |                   |   | 32,394                 |   |   | 31,851 |   |
| Effect of common stock equivalents — stock options and stock issuable under employee compensation plans | 512                    |   | 968                    |   |                   | 512    |                   |   | 968    |   |
| Diluted weighted average shares outstanding                                                                   | 32,913                 |   |                   | 32,953 |                   |   | 32,906                 |   |   | 32,819 |   |

|                             |                                                                                                                                                                                                                                  |
|-----------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)     | Basic weighted average shares outstanding for December 31, 2009 include the full effect of 3,277,777 shares issued pursuant to the  litigation settlement  (see Note 15 of the Company's annual report filed on Form 10-K). |

|                             |                                                                                                                                                      |
|-----------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)     | Basic weighted average shares, as of years ending December 31, 2010 and 2009 include the effect of vested but unissued restricted stock grants. |

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Table of Contents

|                                         |                        |           |                        |              |                        |         |                        |           |        |              |         |        |     |           |        |         |        |        |        |           |        |       |   |
|-----------------------------------------|------------------------|-----------|------------------------|--------------|------------------------|---------|------------------------|-----------|--------|--------------|---------|--------|-----|-----------|--------|---------|--------|--------|--------|-----------|--------|-------|---|
|                                    | Three Months Ended     |      | Three Months Ended     |         | Six Months Ended       |    | Six Months Ended       |
|                                    | December 31, 2010 |      | December 31, 2009 |         | December 31, 2010 |    | December 31, 2009 |
|                                    |                   |      |                   |         |                   |    |                   |      |   |
| in thousands                            | in $’s           | as a %    |                   | in $’s | as a %                 |    | in $’s           | as a %    |   | in $’s | as a %  |
| Total Trading segment revenue           | $                      | 1,655,313 |                   | 100.0        | %                      |    | $                      | 1,664,296 |   | 100.0        | %       |   | $   | 3,106,167 |   | 100.0   | %      |   | $      | 2,593,176 |   | 100.0 | % |
| Trading segment customer concentrations |                   |      |                   |         |                   |    |                   |      |   |         |    |
| Customer A                              | $                      | 380,919   |                   | 23.0         | %                      |    | $                      | 112,452   |   | 6.8          | %       |   | $   | 824,182   |   | 26.5    | %      |   | $      | 243,034   |   | 9.4   | % |
| Customer B                              | 176,299                |      | 10.7                   |         |                   | 76,030  |                   | 4.6       |   |         | 248,415 |   | 8.0 |      |   | 128,642 |   | 5.0    |   |
| Customer C                              | 70,781                 |      | 4.3                    |         |                   | 517,942 |                   | 31.1      |   |         | 294,763 |   | 9.5 |      |   | 741,936 |   | 28.6   |   |
| Total                                   | $                      | 627,999   |                   | 37.9         | %                      |    | $                      | 706,424   |   | 42.4         | %       |   | $   | 1,367,360 |   | 44.0    | %      |   | $      | 1,113,612 |   | 42.9  | % |

|                                          |                        |        |                    |         |              |        |        |        |         |        |        |         |   |
|------------------------------------------|------------------------|--------|--------------------|---------|--------------|--------|--------|--------|---------|--------|--------|---------|---|
|                                     | December 31, 2010 |   | June 30, 2010 |
|                                     |                   |   |               |
| in thousands                             | in $’s           |   | as a %             |    | in $’s |   | as a % |
| Trading segment accounts receivable      | $                      | 31,473 |               |    | 100.0        | %      |   | $      | 18,615  |   |   | 100.0   | % |
| Trading segment customer concentrations  |                   |   |               |    |         |   |   |
| Customer A                               | $                      | 4,876  |               |    | 15.5         | %      |   | $      | — |   |   | — | % |
| Customer B                               | 4,781                  |   |               | 15.2    |         |   | 448    |   |    | 2.4    |   |
|      Customer C | 3,343                  |   |               | 10.6    |         |   | 2,657  |   |    | 14.3   |   |
|      Customer D | —                |   |               | — |         |   | 3,101  |   |    | 16.7   |   |
| Total                                    | $                      | 13,000 |               |    | 41.3         | %      |   | $      | 6,206   |   |   | 33.4    | % |

|                                         |                        |        |                    |         |              |        |         |        |        |         |        |       |   |
|-----------------------------------------|------------------------|--------|--------------------|---------|--------------|--------|---------|--------|--------|---------|--------|-------|---|
|                                    | December 31, 2010 |   | June 30, 2010 |
|                                    |                   |   |               |
| in thousands                            | in $’s           |   | as a %             |    | in $’s |   | as a %  |
| Trading segment secured loans           | $                      | 28,811 |               |    | 100.0        | %      |    | $      | 22,690 |    |   | 100.0 | % |
| Trading segment customer concentrations |                   |   |               |    |         |   |    |
| Customer A                              | $                      | 6,402  |               |    | 22.2         | %      |    | $      | 7,396  |    |   | 32.6  | % |
| Customer B                              | 3,112                  |   |               | 10.8    |         |   | — |   |   | — |   |
| Customer C                              | 2,745                  |   |               | 9.5     |         |   | 2,770   |   |   | 12.2    |   |
| Customer D                              | —                |   |               | — |         |   | 2,511   |   |   | 11.1    |   |
| Total                                   | $                      | 12,259 |               |    | 42.5         | %      |    | $      | 12,677 |    |   | 55.9  | % |

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Table of Contents

|                                                               |                        |        |                    |        |        |        |        |
|---------------------------------------------------------------|------------------------|--------|--------------------|--------|--------|--------|--------|
| in thousands                                                  | December 31, 2010 |   | June 30, 2010 |
|                                                          |                   |   |               |
| Customer trade receivables                                    | $                      | 4,300  |               |   | $      | 6,077  |   |
| Wholesale trade advances                                      | 15,814                 |   |               | 5,407  |   |
| Secured loans                                                 | 28,811                 |   |               | 22,690 |   |
| Due from brokers and other                                    | 11,359                 |   |               | 7,131  |   |
| Subtotal                                                      | 60,284                 |   |               | 41,305 |   |
| Less: allowance for doubtful accounts                         | (122                   | )      |               | (102   | )      |
| Subtotal                                                      | 60,162                 |   |               | 41,203 |   |
| Derivative assets — open purchase and sales commitments | 8,297                  |   |               | 1,698  |   |
| Receivables, net                                              | $                      | 68,459 |               |   | $      | 42,901 |   |

|                                                       |                        |        |                    |        |   |       |        |
|-------------------------------------------------------|------------------------|--------|--------------------|--------|---|-------|--------|
|  in thousands                                    | December 31, 2010 |   | June 30, 2010 |
|                                                  |                   |   |               |
| Auction and trade                                     | $                      | 12,145 |               |   | $ | 6,510 |   |
| Less: allowance for doubtful accounts                 | (420                   | )      |               | (383   | ) |
| Accounts receivable from collectibles operations, net | $                      | 11,725 |               |   | $ | 6,127 |   |

|                                        |                        |        |                    |        |        |      |   |
|----------------------------------------|------------------------|--------|--------------------|--------|--------|------|---|
| in thousands                           | December 31, 2010 |   | June 30, 2010 |
|                                   |                   |   |               |
| Beginning balance                      | $                      | (485   | )                  |   | $      | (868 | ) |
| Provision for loss                     | (44                    | )      |               | 22     |   |
| Charge off to reserve                  | 23                     |   |               | 309    |   |
| Foreign currency exchange rate changes | (36                    | )      |               | 52     |   |
| Ending balance                         | $                      | (542   | )                  |   | $      | (485 | ) |

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Table of Contents

|                                |                        |         |                    |        |   |         |        |
|--------------------------------|------------------------|---------|--------------------|--------|---|---------|--------|
| in thousands                   | December 31, 2010 |    | June 30, 2010 |
|                           |                   |    |               |
| Trading segment inventory      | $                      | 140,361 |               | A      | $ | 114,102 |   |
| Less: provision for loss       | —                |    |               | (350   | ) |
| Trading, net                   | $                      | 140,361 |               |   | $ | 113,752 |   |
| Collectibles segment inventory | $                      | 30,621  |               |   | $ | 25,290  |   |
| Less: provision for loss       | (1,056                 | )       |               | (965   | ) |
| Collectibles, net              | $                      | 29,565  |               |   | $ | 24,325  |   |
| Total inventory, gross         | $                      | 170,982 |               |   | $ | 139,392 |   |
| Less: provision for loss       | (1,056                 | )       |               | (1,315 | ) |
| Net inventory                  | $                      | 169,926 |               |   | $ | 138,077 |   |

|                                        |        |        |   |
|----------------------------------------|--------|--------|---|
| in thousands                           |   |
| Balance, June 30, 2010            | $      | (1,315 | ) |
| Provision for loss                     | (198   | )      |
| Charge off to reserve                  | 446    |   |
| Foreign currency exchange rate charges | 11     |   |
| Balance, December 31, 2010             | $      | (1,056 | ) |

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Table of Contents

|              |                                                                                                                                                         |        |                          |        |             |         |                                                                                                                         |        |        |         |        |        |   |       |        |
|--------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------|--------|-------------|---------|-------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|---|-------|--------|
| in thousands |                       June 30, 2010  |   | Additions andAdjustments |   | Impairments |    |                 December 31, 2010  |
| Trading      | $                                                                                                                                                       | 4,884  |                     |   | $           | — |                                                                                                                    |   | $      | — |   |   | $ | 4,884 |   |
| Collectibles | 1,058                                                                                                                                                   |   |                     | (2     | )           |    | —                                                                                                                 |   |   | 1,056   |   |
|         | $                                                                                                                                                       | 5,942  |                     |   | $           | (2      | )                                                                                                                       |   | $      | — |   |   | $ | 5,940 |   |

|              |                                                                                                                                                         |        |                          |        |             |         |                                                                                                                                                                           |        |        |         |        |        |   |       |        |
|--------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------|--------|-------------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|---|-------|--------|
| in thousands |                       June 30, 2009  |   | Additions andAdjustments |   | Impairments |    |                          June 30, 2010  |
| Trading      | $                                                                                                                                                       | 4,884  |                     |   | $           | — |                                                                                                                                                                      |   | $      | — |   |   | $ | 4,884 |   |
| Collectibles | 1,076                                                                                                                                                   |   |                     | 415    |        |    | (433                                                                                                                                                                      | )      |   | 1,058   |   |
|         | $                                                                                                                                                       | 5,960  |                     |   | $           | 415     |                                                                                                                                                                      |   | $      | (433    | )      |   | $ | 5,942 |   |

|                                               |                                |        |                        |        |                          |        |            |         |                |        |                       |        |                          |        |            |        |                |        |   |        |         |        |        |         |        |        |   |        |   |        |   |       |        |
|-----------------------------------------------|--------------------------------|--------|------------------------|--------|--------------------------|--------|------------|---------|----------------|--------|-----------------------|--------|--------------------------|--------|------------|--------|----------------|--------|---|--------|---------|--------|--------|---------|--------|--------|---|--------|---|--------|---|-------|--------|
|                                          |                           |   | December 31, 2010 |   | June 30, 2010       |
|                                          |                           |   |                   |   |                     |
| in thousands                                  | Estimated Useful Lives (Years) |   | Gross Carrying Amount  |   | Accumulated Amortization |   | Impairment |    | Net Book Value |   | Gross Carrying Amount |   | Accumulated Amortization |   | Impairment |   | Net Book Value |
| Trademarks                                    | Indefinite                     |   | $                      | 2,685  |                     |   | $          | — |           |   | $                     | (1,360 | )                        |   | $          | 1,325  |           |   | $ | 2,685  |    |   | $      | — |   |   | $ | (1,142 | ) |   | $ | 1,543 |   |
| Customer lists                                | 5 - 15                         |   | 9,626                  |   |                     | (4,436 | )          |    | (847           | )      |                  | 4,343  |                     |   | 9,326      |   |           | (4,175 | ) |   | (776    | )      |   | 4,375   |   |
| Non-compete and other                         | 4                              |   | 2,309                  |   |                     | (2,285 | )          |    | (5             | )      |                  | 19     |                     |   | 2,309      |   |           | (2,279 | ) |   | — |   |   | 30      |   |
| Purchased intangibles subject to amortization |                           |   | 11,935                 |   |                     | (6,721 | )          |    | (852           | )      |                  | 4,362  |                     |   | 11,635     |   |           | (6,454 | ) |   | (776    | )      |   | 4,405   |   |
|                                          |                           |   | $                      | 14,620 |                     |   | $          | (6,721  | )              |   | $                     | (2,212 | )                        |   | $          | 5,687  |           |   | $ | 14,320 |    |   | $      | (6,454  | )      |   | $ | (1,918 | ) |   | $ | 5,948 |   |

|                                  |        |        |        |        |
|----------------------------------|--------|--------|--------|--------|
| Period ending December 31, 2010: |   |   |
| 2011 (remaining 6 months)   |   | $      | 220    |   |
| 2012                             |   | 533    |   |
| 2013                             |   | 528    |   |
| 2014                             |   | 473    |   |
| 2015                             |   | 423    |   |
| Thereafter                       |   | 2,185  |   |
| Total                            |   | $      | 4,362  |   |

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Table of Contents

|                                                       |                        |        |                    |        |        |        |        |
|-------------------------------------------------------|------------------------|--------|--------------------|--------|--------|--------|--------|
| in thousands                                          | December 31, 2010 |   | June 30, 2010 |
|                                                  |                   |   |               |
| Trade payable to customers and other accounts payable | $                      | 22,197 |               |   | $      | 6,859  |   |
| Advances from customers                               | 22,051                 |   |               | 12,153 |   |
| Net liability on margin accounts                      | 23,491                 |   |               | 10,530 |   |
| Other accounts payable                                | 423                    |   |               | 303    |   |
| Derivative liabilities — futures contracts      | 4,987                  |   |               | 507    |   |
| Derivative liabilities — forward contracts      | —                |   |               | 45     |   |
|                                                  | $                      | 73,149 |               |   | $      | 30,397 |   |

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Table of Contents

|                                                        |                        |         |                    |         |        |         |        |
|--------------------------------------------------------|------------------------|---------|--------------------|---------|--------|---------|--------|
| in thousands                                           | December 31, 2010 |    | June 30, 2010 |
| Trading Inventory, net                                 | $                      | 140,361 |               |    | $      | 113,752 |   |
| Less unhedgable inventory:                             |                   |    |               |
| Inventory reserve                                      | —                |    |               | 350     |   |
| Inventory held at cost                                 | (2,455                 | )       |               | — |   |
| Premium on metals position                             | (1,172                 | )       |               | (1,034  | )      |
| Subtotal                                               | 136,734                |    |               | 113,068 |   |
| Commitments at market:                                 |                   |    |               |
| Open inventory purchase commitments                    | 278,642                |    |               | 153,215 |   |
| Open inventory sale commitments                        | (231,983               | )       |               | (56,903 | )      |
| Margin sale commitments                                | (37,841                | )       |               | (19,356 | )      |
| Premiums on open commitment positions                  | 463                    |    |               | (26     | )      |
| Inventory borrowed from suppliers                      | (10,118                | )       |               | (40,841 | )      |
| Advances on industrial metals                          | 3,189                  |    |               | 1,508   |   |
| Inventory subject to price risk                        | 139,086                |    |               | 150,665 |   |
| Inventory subject to derivative financial instruments: |                   |    |               |
| Precious metals forward contracts at market values     | —                |    |               | 49,985  |   |
| Precious metals futures contracts at market values     | 142,290                |    |               | 105,769 |   |
| Total market value of derivative financial instruments | 142,290                |    |               | 155,754 |   |
| Net inventory subject to price risk                    | $                      | (3,204  | )                  |    | $      | (5,089  | )      |

|                                                                                   |                        |        |                    |         |        |        |   |
|-----------------------------------------------------------------------------------|------------------------|--------|--------------------|---------|--------|--------|---|
| in thousands                                                                      | December 31, 2010 |   | June 30, 2010 |
| Effects of open related party transactions between A-Mark and affiliates:         |                   |   |               |
|    Net inventory subject to price risk, Company consolidated basis | $                      | (3,204 | )                  |    | $      | (5,089 | ) |
|    Open inventory sale commitments with affiliates                 | (168                   | )      |               | — |   |
|    Open inventory purchase commitments with affiliates             | 3,910                  |   |               | 4,981   |   |
|    Premium on open commitments with affilitates                    | 17                     |   |               | — |   |
| Net inventory subject to price risk, A-Mark stand-alone basis                     | $                      | 555    |               |    | $      | (108   | ) |

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Table of Contents

|                                                                                             |                        |        |               |        |        |       |        |
|---------------------------------------------------------------------------------------------|------------------------|--------|---------------|--------|--------|-------|--------|
| in thousands                                                                                | December 31, 2010 |   | June 30, 2010 |
|                                                                                        |                   |   |          |
| Auctentia 20% interest in Spectrum PMI - (Spectrum PMI owns 100% of A-Mark Precious Metals) | $                      | 7,807  |          |   | $      | 7,018 |   |
| Winter Games Bullion Ventures, LLC. 50% outside interest                                    | 5                      |   |          | 5      |   |
| Total                                                                                       | $                      | 7,812  |          |   | $      | 7,023 |   |

|                                                                                             |                        |        |                        |        |                   |        |                   |        |        |     |        |        |   |     |        |
|---------------------------------------------------------------------------------------------|------------------------|--------|------------------------|--------|-------------------|--------|-------------------|--------|--------|-----|--------|--------|---|-----|--------|
|                                                                                        | Three Months Ended     |   | Six Months Ended       |
| in thousands                                                                                | December 31, 2010 |   | December 31, 2009 |   | December 31, 2010 |   | December 31, 2009 |
|                                                                                        |                   |   |                   |   |              |   |              |
| Auctentia 20% interest in Spectrum PMI - (Spectrum PMI owns 100% of A-Mark Precious Metals) | $                      | 519    |                   |   | $                 | 464    |              |   | $      | 787 |   |   | $ | 763 |   |
| Winter Games Bullion Ventures, LLC. 50% interest                                            | —                |   |                   | 18     |              |   | —           |   |   | 132 |   |
| Total                                                                                       | $                      | 519    |                   |   | $                 | 482    |              |   | $      | 787 |   |   | $ | 895 |   |

|                                             |                        |        |                    |        |   |    |        |
|---------------------------------------------|------------------------|--------|--------------------|--------|---|----|--------|
| in thousands                                | December 31, 2010 |   | June 30, 2010 |
|                                        |                   |   |               |
| Cash                                        | $                      | 10     |               |   | $ | 10 |   |
| Total Assets                                | $                      | 10     |               |   | $ | 10 |   |
| Members’ equity                       | $                      | 10     |               |   | $ | 10 |   |
| Total liabilities and members’ equity | $                      | 10     |               |   | $ | 10 |   |

|                              |                        |         |                        |        |        |        |        |
|------------------------------|------------------------|---------|------------------------|--------|--------|--------|--------|
|                         | Six Months Ended       |    | Six Months Ended       |
| in thousands                 | December 31, 2010 |    | December 31, 2009 |
|                         |                   |    |                   |
| Sales                        | $                      | — |                   |   | $      | 21,997 |   |
| Cost of products sold        | —                |    |                   | 21,456 |   |
| Gross profit                 | —                |    |                   | 541    |   |
| Operating and other expenses | —                |    |                   | 276    |   |
| Net income                   | $                      | — |                   |   | $      | 265    |   |

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Table of Contents

|                                              |         |        |                                 |         |                                |        |                                                  |        |        |         |        |   |      |        |
|----------------------------------------------|---------|--------|---------------------------------|---------|--------------------------------|--------|--------------------------------------------------|--------|--------|---------|--------|---|------|--------|
|                                         | Options |   | Weighted Average Exercise Price |    | Intrinsic Value (in thousands) |   | Weighted Average per share Grant Date Fair Value |
| Outstanding at June 30, 2010            | 604,325 |   |                            | $       | 5.89                           |   |                                             | $      | 104    |    |   | $ | 4.63 |   |
| Granted through stock option plan            | — |   |                            | — |                           |   | —                                          |   |   | — |   |
| Exercised                                    | — |   |                            | — |                           |   | —                                          |   |   | — |   |
| Expired                                      | 46,700  |   |                            | 8.46    |                           |   | 43                                               |   |   | 8.45    |   |
| Forfeited                                    | — |   |                            | — |                           |   | —                                          |   |   | — |   |
| Outstanding at December 31, 2010        | 557,625 |   |                            | $       | 5.90                           |   |                                             | $      | 61     |    |   | $ | 4.32 |   |
| Shares exercisable at Decmeber 31, 2010 | 557,625 |   |                            | $       | 5.90                           |   |                                             | $      | 61     |    |   | $ | 4.32 |   |

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Table of Contents

|                       |        |                              |        |                                             |        |                                 |        |                              |        |                                 |        |        |        |         |         |        |        |         |        |        |   |      |        |
|-----------------------|--------|------------------------------|--------|---------------------------------------------|--------|---------------------------------|--------|------------------------------|--------|---------------------------------|--------|--------|--------|---------|---------|--------|--------|---------|--------|--------|---|------|--------|
| Options Outstanding   |   | Options Exercisable          |
| Exercise Price Ranges |   | Number of Shares Outstanding |   | Weighted Average Remaining Contractual Life |   | Weighted Average Exercise Price |   | Number of Shares Exercisable |   | Weighted Average Exercise Price |
| From                  |   | To                           |   |                                        |   |                            |   |
| $                     | 1.00   |                         |   | $                                           | 5.00   |                            |   | 379,625                      |   |                            | 2.3    |   |   | $       | 2.30    |   |   | 379,625 |   |   | $ | 2.30 |   |
| 5.01                  |   |                         | 10.00  |                                        |   | 13,000                          |   |                         | 2.9    |                            |   | 8.97   |   |    | 13,000  |   |   | 8.97    |   |
| 10.01                 |   |                         | 15.00  |                                        |   | 165,000                         |   |                         | 3.3    |                            |   | 13.90  |   |    | 165,000 |   |   | 13.90   |   |
|                  |   |                         |   | 557,625                                     |   |                            | 2.6    |                         |   | $                               | 5.89   |   |   | 557,625 |    |   | $      | 5.89    |   |

|                                          |          |        |                                            |      |        |        |
|------------------------------------------|----------|--------|--------------------------------------------|------|--------|--------|
|                                     | Shares   |   | Weighted Average share price at grant date |
| Outstanding at June 30, 2010        | 877,061  |   |                                       | $    | 2.51   |   |
| Shares granted                           | 344,056  |   |                                       | 1.89 |   |
| Shares issued                            | (565,670 | )      |                                       | 2.69 |   |
| Shares forfeited                         | (5,000   | )      |                                       | 2.05 |   |
| Shares withheld for employee taxes       | (103,930 | )      |                                       | 2.82 |   |
| Outstanding at December 31, 2010         | 546,517  |   |                                       | $    | 1.92   |   |
| Vested but unissued at December 31, 2010 | 42,729   |   |                                       | $    | 1.99   |   |

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Table of Contents

|                                                                                                                               |                        |           |                        |        |                        |           |                        |        |        |           |        |        |        |           |        |     |        |
|-------------------------------------------------------------------------------------------------------------------------------|------------------------|-----------|------------------------|--------|------------------------|-----------|------------------------|--------|--------|-----------|--------|--------|--------|-----------|--------|-----|--------|
|                                                                                                                          | Three Months Ended     |      | Three Months Ended     |   | Six Months Ended       |      | Six Months Ended       |
|  in thousands                                                                                                            | December 31, 2010 |      | December 31, 2009 |   | December 31, 2010 |      | December 31, 2009 |
|                                                                                                                          |                   |      |                   |   |                   |      |                   |
|                                                                                                                          |                   |      | (as restated)          |   |                   |      | (as restated)          |
| Revenue:                                                                                                                      |                   |      |                   |   |                   |      |                   |
| Trading                                                                                                                       | $                      | 1,655,313 |                   |   | $                      | 1,664,296 |                   |   | $      | 3,106,167 |   |   | $      | 2,593,176 |   |
| Collectibles:                                                                                                                 |                   |      |                   |   |                   |      |                   |
| Coins                                                                                                                         | 49,766                 |      |                   | 35,734 |                   |      | 93,577                 |   |   | 77,991    |   |
| Stamps                                                                                                                        | 4,061                  |      |                   | 4,440  |                   |      | 4,709                  |   |   | 9,404     |   |
|      Wine                                                                                            | 872                    |      |                   | 404    |                   |      | 1,438                  |   |   | 404       |   |
|      Militaria, and other                                                                            | 402                    |      |                   | 442    |                   |      | 809                    |   |   | 779       |   |
| Total Collectibles                                                                                                            | 55,101                 |      |                   | 41,020 |                   |      | 100,533                |   |   | 88,578    |   |
| Total revenue                                                                                                                 | $                      | 1,710,414 |                   |   | $                      | 1,705,316 |                   |   | $      | 3,206,700 |   |   | $      | 2,681,754 |   |
|                                                                                                                          |                   |      |                   |   |                   |      |                   |
|  in thousands                                                                                                            | Three Months Ended     |      | Three Months Ended     |   | Six Months Ended       |      | Six Months Ended       |
| Revenue by geographic region:                                                                                                 | December 31, 2010      |      | December 31, 2009      |   | December 31, 2010      |      | December 31, 2009      |
| United States                                                                                                                 | $                      | 1,675,469 |                   |   | $                      | 1,702,820 |                   |   | $      | 3,141,982 |   |   | $      | 2,677,099 |   |
| Asia Pacific                                                                                                                  | 323                    |      |                   | 348    |                   |      | 355                    |   |   | 698       |   |
| Europe                                                                                                                        | 34,622                 |      |                   | 2,148  |                   |      | 64,363                 |   |   | 3,957     |   |
| Total revenue                                                                                                                 | $                      | 1,710,414 |                   |   | $                      | 1,705,316 |                   |   | $      | 3,206,700 |   |   | $      | 2,681,754 |   |
|                                                                                                                          |                   |      |                   |   |                   |      |                   |
|  in thousands                                                                                                            | Three Months Ended     |      | Three Months Ended     |   | Six Months Ended       |      | Six Months Ended       |
| Operating income (loss):                                                                                                      | December 31, 2010      |      | December 31, 2009      |   | December 31, 2010      |      | December 31, 2009      |
| Trading                                                                                                                       | $                      | 3,251     |                   |   | $                      | 2,189     |                   |   | $      | 4,376     |   |   | $      | 3,971     |   |
| Collectibles                                                                                                                  | 2,249                  |      |                   | 1,416  |                   |      | 1,455                  |   |   | 701       |   |
| Corporate expenses                                                                                                            | (1,811                 | )         |                   | (2,604 | )                      |      | (3,821                 | )      |   | (5,095    | )      |
| Operating income (loss)                                                                                                       | $                      | 3,689     |                   |   | $                      | 1,001     |                   |   | $      | 2,010     |   |   | $      | (423      | )      |
|                                                                                                                          |                   |      |                   |   |                   |      |                   |
|                                                                                                                          |                   |      |                   |   |                   |      |                   |
|  in thousands                                                                                                            | Three Months Ended     |      | Three Months Ended     |   | Six Months Ended       |      | Six Months Ended       |
| Depreciation and amortization:                                                                                                | December 31, 2010      |      | December 31, 2009      |   | December 31, 2010      |      | December 31, 2009      |
| Trading                                                                                                                       | $                      | 168       |                   | 161    |                   | $         | 161                    |   | 178    |      | $      | 329    |   |      | $      | 339 |   |
| Collectibles (1)                                                                                                              | 207                    |      | 209                    |   | 243                    |      | 279                    |   | 416    |      |   | 522    |   |
| Corporate                                                                                                                     | 7                      |      | 6                      |   | 5                      |      | 4                      |   | 13     |      |   | 9      |   |
| Deprecation and amortization                                                                                                  | $                      | 382       |                   |   | $                      | 409       |                   |   | $      | 758       |   |   | $      | 870       |   |
| (1) Amounts do not include impairment charges for the three and six months ended December 31, 2010 in the amount of $293,251. |

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|                                           |        |                        |         |                    |         |        |         |        |
|-------------------------------------------|--------|------------------------|---------|--------------------|---------|--------|---------|--------|
| in thousands                              |   | December 31, 2010 |    | June 30, 2010 |
| Inventories by segment/geographic region: |   |                   |    |               |
| Trading:                                  |   |                   |    |               |
| United States                             |   | $                      | 139,316 |               |    | $      | 113,752 |   |
| Europe                                    |   | 1,045                  |    | —            |    |
| Total Collectibles                        |   | 140,361                |    |               | 113,752 |   |
| Collectibles:                             |   |                   |    |               |
| United States                             |   | 28,605                 |    |               | 23,489  |   |
| Europe                                    |   | 937                    |    |               | 819     |   |
| Asia                                      |   | 23                     |    |               | 17      |   |
| Total Collectibles                        |   | 29,565                 |    |               | 24,325  |   |
| Total inventories                         |   | $                      | 169,926 |               |    | $      | 138,077 |   |

|                                            |        |                        |         |                    |         |        |         |        |
|--------------------------------------------|--------|------------------------|---------|--------------------|---------|--------|---------|--------|
| in thousands                               |   | December 31, 2010 |    | June 30, 2010 |
| Total assets by segment/geographic region: |   |                   |    |               |
| Trading:                                   |   |                   |    |               |
| United States                              |   | $                      | 221,626 |               |    | $      | 171,507 |   |
|      Europe       |   | 1,184                  |    |               | 257     |   |
| Total Trading                              |   | 222,810                |    |               | 171,764 |   |
| Collectibles:                              |   |                   |    |               |
| United States                              |   | 47,499                 |    |               | 40,541  |   |
| Europe                                     |   | 18,167                 |    |               | 15,673  |   |
| Asia                                       |   | 6,472                  |    |               | 906     |   |
| Total Collectibles                         |   | 72,138                 |    |               | 57,120  |   |
| Corporate and other                        |   | 17,147                 |    |               | 7,851   |   |
| Total assets of continuing operations      |   | $                      | 312,095 |               |    | $      | 236,735 |   |

|                                                      |        |                        |        |                    |        |        |        |        |
|------------------------------------------------------|--------|------------------------|--------|--------------------|--------|--------|--------|--------|
| in thousands                                         |   | December 31, 2010 |   | June 30, 2010 |
| Total long term assets by segment/geographic region: |   |                   |   |               |
| Trading:                                             |   |                   |   |               |
| United States                                        |   | $                      | 9,890  |               |   | $      | 10,017 |   |
|      Europe                 |   | 35                     |   |               | 38     |   |
| Total Trading                                        |   | 9,925                  |   |               | 10,055 |   |
| Collectibles:                                        |   |                   |   |               |
| United States                                        |   | 2,031                  |   |               | 2,334  |   |
| Europe                                               |   | 1,537                  |   |               | 1,170  |   |
| Asia                                                 |   | 139                    |   |               | 142    |   |
| Total Collectibles                                   |   | 3,707                  |   |               | 3,646  |   |
| Corporate and other                                  |   | 5,814                  |   |               | 5,843  |   |
| Total long term assets of continuing operations      |   | $                      | 19,446 |               |   | $      | 19,544 |   |

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|                                                        |                        |         |                    |        |        |       |        |
|--------------------------------------------------------|------------------------|---------|--------------------|--------|--------|-------|--------|
| in thousands                                           | December 31, 2010 |    | June 30, 2010 |
|                                                   |                   |    |               |
| Unrealized income on marketable securities, net of tax | $                      | — |               |   | $      | 91    |   |
| Foreign currency translation gain                      | 6,515                  |    |               | 3,438  |   |
| Accumulated other comprehensive income                 | $                      | 6,515   |               |   | $      | 3,529 |   |

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|                                                               |        |                        |         |                   |         |                  |         |               |        |        |         |        |        |   |         |        |
|---------------------------------------------------------------|--------|------------------------|---------|-------------------|---------|------------------|---------|---------------|--------|--------|---------|--------|--------|---|---------|--------|
|                                                          |   | December 31, 2010 |
|                                                          |   |                   |
|                                                          |   | Quoted Price in        |    |              |    |             |    |          |
|                                                          |   | Active Markets for     |    |              |    |             |    |          |
|                                                          |   | Identical              |    | Significant Other |    | Significant      |    |          |
|                                                          |   | Instruments            |    | Observable Inputs |    | Unobservable     |    |          |
| in thousands                                                  |   | (Level 1)              |    | (Level 2)         |    | Inputs (Level 3) |    | Total Balance |
| Assets:                                                       |   |                   |    |              |    |             |    |          |
| Commodities                                                   |   | $                      | 136,735 |              |    | $                | — |          |   | $      | — |   |   | $ | 136,735 |   |
| Derivative assets — open sales and purchase commitments |   | —                |    |              | 8,297   |             |    | —       |   |   | 8,297   |   |
| Total assets valued at fair value:                            |   | $                      | 136,735 |              |    | $                | 8,297   |          |   | $      | — |   |   | $ | 145,032 |   |
| Liabilities:                                                  |   |                   |    |              |    |             |    |          |
| Liability on borrowed metals                                  |   | $                      | (10,118 | )                 |    | $                | — |          |   | $      | — |   |   | $ | (10,118 | )      |
| Liability on margin accounts                                  |   | (23,491                | )       |              | — |             |    | —       |   |   | (23,491 | )      |
| Derivative liabilities — futures contracts              |   | —                |    |              | (4,987  | )                |    | —       |   |   | (4,987  | )      |
| Total liabilities valued at fair value:                       |   | $                      | (33,609 | )                 |    | $                | (4,987  | )             |   | $      | — |   |   | $ | (38,596 | )      |

|                                                               |        |                    |         |                   |         |                  |         |               |        |        |         |        |        |   |         |        |
|---------------------------------------------------------------|--------|--------------------|---------|-------------------|---------|------------------|---------|---------------|--------|--------|---------|--------|--------|---|---------|--------|
|                                                          |   | June 30, 2010 |
|                                                          |   |               |
|                                                          |   | Quoted Price in    |    |              |    |             |    |          |
|                                                          |   | Active Markets for |    |              |    |             |    |          |
|                                                          |   | Identical          |    | Significant Other |    | Significant      |    |          |
|                                                          |   | Instruments        |    | Observable Inputs |    | Unobservable     |    |          |
| in thousands                                                  |   | (Level 1)          |    | (Level 2)         |    | Inputs (Level 3) |    | Total Balance |
| Assets:                                                       |   |               |    |              |    |             |    |          |
| Commodities                                                   |   | $                  | 113,069 |              |    | $                | — |          |   | $      | — |   |   | $ | 113,069 |   |
| Derivative assets — open sales and purchase commitments |   | —            |    |              | 1,698   |             |    | —       |   |   | 1,698   |   |
| Total assets valued at fair value:                            |   | $                  | 113,069 |              |    | $                | 1,698   |          |   | $      | — |   |   | $ | 114,767 |   |
| Liabilities:                                                  |   |               |    |              |    |             |    |          |
| Liability on borrowed metals                                  |   | $                  | (40,841 | )                 |    | $                | — |          |   | $      | — |   |   | $ | (40,841 | )      |
| Liability on margin accounts                                  |   | (10,530            | )       |              | — |             |    | —       |   |   | (10,530 | )      |
| Derivative liabilities — futures contracts              |   | —            |    |              | (507    | )                |    | —       |   |   | (507    | )      |
| Derivative liabilities — forward contracts              |   | —            |    |              | (45     | )                |    | —       |   |   | (45     | )      |
| Total liabilities valued at fair value:                       |   | $                  | (51,371 | )                 |    | $                | (552    | )             |   | $      | — |   |   | $ | (51,923 | )      |

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Table of Contents

|                                                |                                                                |         |                                                         |         |                                              |         |               |        |        |       |        |        |   |       |        |
|------------------------------------------------|----------------------------------------------------------------|---------|---------------------------------------------------------|---------|----------------------------------------------|---------|---------------|--------|--------|-------|--------|--------|---|-------|--------|
|                                           | June 30, 2010                                                  |
|                                           |                                                           |    |                                                    |    |                                         |    |          |
| (in thousands)                                 | Quoted Price inActive Markets forIdenticalInstruments(Level 1) |    |   Significant OtherObservable Inputs(Level 2) |    |  SignificantUnobservableInputs(Level 3) |    | Total Balance |
| Goodwill and other intangible assets:          |                                                           |    |                                                    |    |                                         |    |          |
| Goodwill                                       | $                                                              | — |                                                    |    | $                                            | — |          |   | $      | 30    |   |   | $ | 30    |   |
| Trade names                                    | —                                                        |    |                                                    | — |                                         |    | 668           |   |   | 668   |   |
| Customer relationships                         | —                                                        |    |                                                    | — |                                         |    | 369           |   |   | 369   |   |
| Total assets at fair value (after impairment): | $                                                              | — |                                                    |    | $                                            | — |          |   | $      | 1,067 |   |   | $ | 1,067 |   |

|                                                |                                                                |         |                                                         |         |                                              |         |               |        |        |     |        |        |   |     |        |
|------------------------------------------------|----------------------------------------------------------------|---------|---------------------------------------------------------|---------|----------------------------------------------|---------|---------------|--------|--------|-----|--------|--------|---|-----|--------|
|                                           | December 31, 2010                                              |
|                                           |                                                           |    |                                                    |    |                                         |    |          |
| (in thousands)                                 | Quoted Price inActive Markets forIdenticalInstruments(Level 1) |    |   Significant OtherObservable Inputs(Level 2) |    |  SignificantUnobservableInputs(Level 3) |    | Total Balance |
| Goodwill and other intangible assets:          |                                                           |    |                                                    |    |                                         |    |          |
| Goodwill                                       | $                                                              | — |                                                    |    | $                                            | — |          |   | $      | 30  |   |   | $ | 30  |   |
| Trade names                                    | —                                                        |    |                                                    | — |                                         |    | 451           |   |   | 451 |   |
| Customer relationships                         | —                                                        |    |                                                    | — |                                         |    | 293           |   |   | 293 |   |
| Total assets at fair value (after impairment): | $                                                              | — |                                                    |    | $                                            | — |          |   | $      | 774 |   |   | $ | 774 |   |

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|                                |                                                                                                                                                                                                                                                                    |
|--------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Overview. This section provides a general description of our business, as well as recent significant transactions and events that we believe are important in understanding the results of operations, as well as to anticipate future trends in those operations. |

|                                |                                                                                                                                                                                                                                                        |
|--------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Results of operations. This section provides an analysis of our results of operations presented in the accompanying consolidated statements of operations by comparing the results for the three and six months ended December 31, 2010 and 2009. |

|                                |                                                                                                                                                                                                                                                                                                                                                                                                                |
|--------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Financial condition and liquidity and capital resources. This section provides an analysis of our cash flows, as well as a discussion of our outstanding debt that existed as of December 31, 2010. Included in the discussion of outstanding debt is a discussion of the amount of financial capacity available to fund our future commitments, as well as a discussion of other financing arrangements. |

|                                |                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|--------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Critical accounting estimates. This section discusses those accounting policies that both are considered important to our financial condition and results, and require significant judgment and estimates on the part of management in their application. In addition, all of our significant accounting policies, including critical accounting policies, are summarized in Note 1 to the accompanying consolidated financial statements. |

|                                |                                                                                                                                                                                           |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Recent accounting pronouncements. This section discusses new accounting pronouncements, dates of implementation and impact on our accompanying consolidated financial statements, if any. |

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|                                                               |        |           |         |         |          |         |         |        |            |         |               |        |        |        |        |        |        |        |       |         |
|---------------------------------------------------------------|--------|-----------|---------|---------|----------|---------|---------|--------|------------|---------|---------------|--------|--------|--------|--------|--------|--------|--------|-------|---------|
|                                                          |   |      | % of    |    |     |    | % of    |   | Increase   |    | % of Increase |
| in thousands                                                  | 2010   |      | revenue |    | 2009 (1) |    | revenue |   | (decrease) |    | (decrease)    |
| Revenue                                                       | $      | 1,710,414 |    |    | 100.0    |  % |    | $      | 1,705,316  |    |          | 100.0  | %      |   | $      | 5,098  |   |   | 0.3   |  % |
| Gross profit                                                  | 15,884 |      |    | 0.9     |     |    | 14,072  |   |       | 0.8     |          |   | 1,812  |   |   | 12.9   |   |
| General and administrative expenses                           | 5,606  |      |    | 0.3     |     |    | 4,852   |   |       | 0.3     |          |   | 754    |   |   | 15.5   |   |
| Salaries and wages                                            | 5,914  |      |    | 0.3     |     |    | 7,810   |   |       | 0.5     |          |   | (1,896 | )      |   | (24.3  | )      |
| Depreciation and amortization                                 | 675    |      |    | — |     |    | 409     |   |       | — |          |   | 266    |   |   | 65.0   |   |
| Operating income                                              | 3,689  |      |    | 0.2     |     |    | 1,001   |   |       | 0.1     |          |   | 2,688  |   |   | 268.5  |   |
| Interest income                                               | 2,344  |      |    | 0.1     |     |    | 1,727   |   |       | 0.1     |          |   | 617    |   |   | 35.7   |   |
| Interest expense                                              | (1,103 | )         |    | (0.1    | )        |    | (682    | )      |       | — |          |   | 421    |   |   | 61.7   |   |
| Other income (expense), net                                   | (364   | )         |    | — |     |    | (458    | )      |       | — |          |   | 94     |   |   | (20.5  | )      |
| Unrealized gain(loss) on foreign exchange                     | 678    |      |    | — |     |    | 484     |   |       | — |          |   | 194    |   |   | 40.1   |   |
| Income before income taxes                                    | 5,244  |      |    | 0.3     |     |    | 2,072   |   |       | 0.1     |          |   | 3,172  |   |   | 153.1  |   |
| Income taxes (benefit)                                        | 143    |      |    | — |     |    | (424    | )      |       | — |          |   | 567    |   |   | (133.7 | )      |
| Net income                                                    | 5,101  |      |    | 0.3     |     |    | 2,496   |   |       | 0.1     |          |   | 2,605  |   |   | 104.4  |   |
| Less: Net profit attributable to the noncontrolling interest  | (519   | )         |    | — |     |    | (482    | )      |       | — |          |   | (37    | )      |   | 7.7    |   |
| Net income attributable to Spectrum Group International, Inc. | $      | 4,582     |    |    | 0.3      |  % |    | $      | 2,014      |    |          | 0.1    | %      |   | $      | 2,568  |   |   | 127.5 |  % |

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|                                                                       |        |        |        |        |        |        |        |        |            |        |                |        |        |        |        |        |       |   |
|-----------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|------------|--------|----------------|--------|--------|--------|--------|--------|-------|---|
|                                                                  |   |   |   |   |   |   |   |   | Increase/  |   | % of Increase/ |
|                                                                  | 2010   |   |   |   | 2009   |   |   |   | (decrease) |   | (decrease)     |
| Earnings per share attributable to Spectrum Group International, Inc. |   |   |   |   |   |   |   |   |       |   |           |
| Basic                                                                 | $      | 0.14   |   |   |   |   | $      | 0.06   |       |   |           |   | $      | 0.08   |   |   | 124.6 | % |
| Diluted                                                               | $      | 0.14   |   |   |   |   | $      | 0.06   |       |   |           |   | $      | 0.08   |   |   | 127.8 | % |
| Weighted average shares outstanding                                   |   |   |   |   |   |   |   |   |       |   |           |
| Basic                                                                 | 32,401 |   |   |   |   | 31,985 |   |   |       |   |           |   |   |   |
| Diluted                                                               | 32,913 |   |   |   |   | 32,953 |   |   |       |   |           |   |   |   |

|                             |                                                                                                                                                                                                                                                                                                                                                 |
|-----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)     | The 2009 consolidated statement of operation and related segment disclosures have been restated for certain errors in the classification.  Such reclassifications did not result in an adjustment to the Company's reported net income.  See further discussion at Note 1 Basis of Presentation and Summary of Significant Accounting Policies. |

|                                                               |        |           |         |         |          |         |         |        |            |         |                |        |         |        |        |         |        |        |       |         |
|---------------------------------------------------------------|--------|-----------|---------|---------|----------|---------|---------|--------|------------|---------|----------------|--------|---------|--------|--------|---------|--------|--------|-------|---------|
|                                                          |   |      | % of    |    |     |    | % of    |   | Increase/  |    | % of Increase/ |
| in thousands                                                  | 2010   |      | revenue |    | 2009 (1) |    | revenue |   | (decrease) |    | (decrease)     |
| Revenue                                                       | $      | 3,206,700 |    |    | 100.0    |  % |    | $      | 2,681,754  |    |           | 100.0  |  % |   | $      | 524,946 |   |   | 19.6  |  % |
| Gross profit                                                  | 24,927 |      |    | 0.8     |     |    | 24,849  |   |       | 0.9     |           |   | 78      |   |   | 0.3     |   |
| General and administrative expenses                           | 10,725 |      |    | 0.3     |     |    | 10,535  |   |       | 0.4     |           |   | 190     |   |   | 1.8     |   |
| Salaries and wages                                            | 11,141 |      |    | 0.3     |     |    | 13,867  |   |       | 0.5     |           |   | (2,726  | )      |   | (19.7   | )      |
| Depreciation and amortization                                 | 1,051  |      |    | — |     |    | 870     |   |       | — |           |   | 181     |   |   | 20.8    |   |
| Operating income (loss)                                       | 2,010  |      |    | 0.1     |     |    | (423    | )      |       | — |           |   | 2,433   |   |   | 575.2   |   |
| Interest income                                               | 4,082  |      |    | 0.1     |     |    | 3,120   |   |       | 0.1     |           |   | 962     |   |   | 30.8    |   |
| Interest expense                                              | (1,912 | )         |    | (0.1    | )        |    | (1,051  | )      |       | — |           |   | 861     |   |   | 81.9    |   |
| Other income (expense), net                                   | (451   | )         |    | — |     |    | 80      |   |       | — |           |   | (531    | )      |   | (663.8  | )      |
| Unrealized gain(loss) on foreign exchange                     | (2,076 | )         |    | (0.1    | )        |    | (533    | )      |       | — |           |   | 1,543   |   |   | 289.5   |   |
| Income before income taxes                               | 1,653  |      |    | 0.1     |     |    | 1,193   |   |       | — |           |   | 460     |   |   | 38.6    |   |
| Income taxes (benefit)                                        | 270    |      |    | — |     |    | (1,984  | )      |       | (0.1    | )              |   | 2,254   |   |   | (113.6  | )      |
| Net income                                                    | 1,383  |      |    | — |     |    | 3,177   |   |       | 0.1     |           |   | (1,794  | )      |   | (56.5   | )      |
| Less: Net profit attributable to the noncontrolling interest  | (787   | )         |    | — |     |    | (895    | )      |       | — |           |   | 108     |   |   | (12.1   | )      |
| Net income attributable to Spectrum Group International, Inc. | $      | 596       |    |    | —  |  % |    | $      | 2,282      |    |           | 0.1    |  % |   | $      | (1,686  | )      |   | (73.9 | )%      |

|                                                                       |        |        |        |        |        |        |        |        |            |        |                |        |        |       |   |        |       |    |
|-----------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|------------|--------|----------------|--------|--------|-------|---|--------|-------|----|
|                                                                  |   |   |   |   |   |   |   |   | Increase/  |   | % of Increase/ |
|                                                                  | 2010   |   |   |   | 2009   |   |   |   | (decrease) |   | (decrease)     |
| Earnings per share attributable to Spectrum Group International, Inc. |   |   |   |   |   |   |   |   |       |   |           |
| Basic                                                                 | $      | 0.02   |   |   |   |   | $      | 0.07   |       |   |           |   | $      | (0.05 | ) |   | (74.3 | )% |
| Diluted                                                               | $      | 0.02   |   |   |   |   | $      | 0.07   |       |   |           |   | $      | (0.05 | ) |   | (74.0 | )% |
| Weighted average shares outstanding                                   |   |   |   |   |   |   |   |   |       |   |           |
| Basic                                                                 | 32,394 |   |   |   |   | 31,851 |   |   |       |   |           |   |   |
| Diluted                                                               | 32,906 |   |   |   |   | 32,819 |   |   |       |   |           |   |   |

|                             |                                                                                                                                                                                                                                                                                                                                                 |
|-----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)     | The 2009 consolidated statement of operation and related segment disclosures have been restated for certain errors in the classification.  Such reclassifications did not result in an adjustment to the Company's reported net income.  See further discussion at Note 1 Basis of Presentation and Summary of Significant Accounting Policies. |

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|                                     |        |        |           |         |        |          |        |         |        |                     |        |                     |        |        |        |        |        |        |        |      |         |
|-------------------------------------|--------|--------|-----------|---------|--------|----------|--------|---------|--------|---------------------|--------|---------------------|--------|--------|--------|--------|--------|--------|--------|------|---------|
|                                |   |   |      | % of    |   |     |   | % of    |   | $                   |   | %                   |
| In thousands                        |   | 2010   |      | revenue |   | 2009 (1) |   | revenue |   | Increase/(decrease) |   | Increase/(decrease) |
| Trading revenues                    |   | $      | 1,655,313 |    |   | 100.0    | %      |    | $      | 1,664,296           |   |                | 100.0  | %      |   | $      | (8,983 | )      |   | (0.5 | )%      |
| Gross profit                        |   | 6,295  |      |    | 0.4    |     |   | 6,143   |   |                | 0.4    |                |   | 152    |   |   | 2.5    |   |
| General and administrative expenses |   | 832    |      |    | 0.0    |     |   | 719     |   |                | 0.0    |                |   | 113    |   |   | 15.7   |   |
| Salaries and wages                  |   | 2,044  |      |    | 0.1    |     |   | 3,074   |   |                | 0.2    |                |   | (1,030 | )      |   | (33.5  | )      |
| Depreciation and amortization       |   | 168    |      |    | 0.0    |     |   | 161     |   |                | 0.0    |                |   | 7      |   |   | 4.3    |   |
| Operating income                    |   | $      | 3,251     |    |   | 0.2      | %      |    | $      | 2,189               |   |                | 0.1    | %      |   | $      | 1,062  |   |   | 48.5 |  % |

|                             |                                                                                                                                                                                                                                                                                                                       |
|-----------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)     | The 2009 consolidated statement of operation and related segment disclosures have been restated for certain errors in the classification.  Such reclassifications did not result in an adjustment to the Company's reported net income.  See further discussion at Note [1] to the consolidated financial statements. |

|                                     |        |        |           |         |        |          |        |         |        |                     |        |                     |        |        |        |        |         |        |        |      |         |
|-------------------------------------|--------|--------|-----------|---------|--------|----------|--------|---------|--------|---------------------|--------|---------------------|--------|--------|--------|--------|---------|--------|--------|------|---------|
|                                |   |   |      | % of    |   |     |   | % of    |   | $                   |   | %                   |
| In thousands                        |   | 2010   |      | revenue |   | 2009 (1) |   | revenue |   | Increase/(decrease) |   | Increase/(decrease) |
| Trading revenues                    |   | $      | 3,106,167 |    |   | 100.0    | %      |    | $      | 2,593,176           |   |                | 100.0  | %      |   | $      | 512,991 |   |   | 19.8 |  % |
| Gross profit                        |   | 9,947  |      |    | 0.3    |     |   | 10,463  |   |                | 0.4    |                |   | (516   | )      |   | (4.9    | )      |
| General and administrative expenses |   | 1,739  |      |    | 0.1    |     |   | 1,389   |   |                | 0.1    |                |   | 350    |   |   | 25.2    |   |
| Salaries and wages                  |   | 3,503  |      |    | 0.1    |     |   | 4,764   |   |                | 0.2    |                |   | (1,261 | )      |   | (26.5   | )      |
| Depreciation and amortization       |   | 329    |      |    | 0.0    |     |   | 339     |   |                | 0.0    |                |   | (10    | )      |   | (2.9    | )      |
| Operating income                    |   | $      | 4,376     |    |   | 0.1      | %      |    | $      | 3,971               |   |                | 0.2    | %      |   | $      | 405     |   |   | 10.2 |  % |

|                             |                                                                                                                                                                                                                                                                                                                       |
|-----------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)     | The 2009 consolidated statement of operation and related segment disclosures have been restated for certain errors in the classification.  Such reclassifications did not result in an adjustment to the Company's reported net income.  See further discussion at Note [1] to the consolidated financial statements. |

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|                                                                                         |        |                   |        |                       |        |        |        |            |        |                     |        |                     |        |        |        |        |        |        |        |      |         |
|-----------------------------------------------------------------------------------------|--------|-------------------|--------|-----------------------|--------|--------|--------|------------|--------|---------------------|--------|---------------------|--------|--------|--------|--------|--------|--------|--------|------|---------|
|                                                                                    |   | December 31, 2010 |   | December 31, 2009 (1) |   | $      |   | %          |
| in thousands                                                                            |   | $                 |   | % to total            |   | $      |   | % to total |   | Increase/(decrease) |   | Increase/(decrease) |
| Collectibles revenues                                                                   |   | $                 | 55,101 |                  |   | 100.0  | %      |       | $      | 41,020              |   |                | 100    | %      |   | $      | 14,081 |   |   | 34.3 |  % |
| Revenues by Collectible Type:                                                           |   |              |   |                  |   |   |   |       |   |                |   |                |
| Philatelic                                                                              |   | $                 | 4,061  |                  |   | 7.4    | %      |       | $      | 4,440               |   |                | 10.8   | %      |   | $      | (379   | )      |   | (8.5 | )%      |
| Numismatics                                                                             |   | 49,766            |   |                  | 90.3   |   |   | 35,734     |   |                | 87.1   |                |   | 14,032 |   |   | 39.3   |   |
| Wine                                                                                    |   | 872               |   |                  | 1.6    |   |   | 404        |   |                | 1.0    |                |   | 468    |   |   | 1.2    |   |
|              Militaria |   | 402               |   |                  | 0.7    |   |   | 442        |   |                | 1.1    |                |   | (40    | )      |   | (9.0   | )      |
|                                                                                    |   | $                 | 55,101 |                  |   | 100.0  | %      |       | $      | 41,020              |   |                | 100.0  | %      |   | $      | 14,081 |   |   | 34.3 |  % |

|                             |                                                                                                                                                                                                                                                                                                                       |
|-----------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)     | The 2009 consolidated statement of operation and related segment disclosures have been restated for certain errors in the classification.  Such reclassifications did not result in an adjustment to the Company's reported net income.  See further discussion at Note [1] to the consolidated financial statements. |

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|                                                                                     |        |                   |         |                       |        |        |        |            |        |                     |        |                     |        |        |        |        |        |        |        |      |         |
|-------------------------------------------------------------------------------------|--------|-------------------|---------|-----------------------|--------|--------|--------|------------|--------|---------------------|--------|---------------------|--------|--------|--------|--------|--------|--------|--------|------|---------|
|                                                                                |   | December 31, 2010 |    | December 31, 2009 (1) |   | $      |   | %          |
| in thousands                                                                        |   | $                 |    | % to total            |   | $      |   | % to total |   | Increase/(decrease) |   | Increase/(decrease) |
| Collectibles revenues                                                               |   | $                 | 100,533 |                  |   | 100.0  | %      |       | $      | 88,578              |   |                | 100.0  | %      |   | $      | 11,955 |   |   | 13.5 |  % |
| Revenues by Collectible Type:                                                       |   |              |    |                  |   |   |   |       |   |                |   |                |
|             Philatelic  |   | 4,709             |    |                  | 4.7    | %      |   | 9,404      |   |                | 10.6   | %                   |   | (4,695 | )      |   | (49.9  | )%     |
|             Numismatics |   | 93,577            |    |                  | 93.1   |   |   | 77,991     |   |                | 88.0   |                |   | 15,586 |   |   | 20.0   |   |
|             Wine        |   | 1,438             |    |                  | 1.4    |   |   | 404        |   |                | 0.5    |                |   | 1,034  |   |   | 255.9  |   |
|             Militaria   |   | 809               |    |                  | 0.8    |   |   | 779        |   |                | 0.9    |                |   | 30     |   |   | 3.9    |   |
|                                                                                |   | $                 | 100,533 |                  |   | 100.0  | %      |       | $      | 88,578              |   |                | 100.0  | %      |   | $      | 11,955 |   |   | 13.5 |  % |

|                             |                                                                                                                                                                                                                                                                                                                       |
|-----------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)     | The 2009 consolidated statement of operation and related segment disclosures have been restated for certain errors in the classification.  Such reclassifications did not result in an adjustment to the Company's reported net income.  See further discussion at Note [1] to the consolidated financial statements. |

|                                              |        |        |        |               |        |          |        |               |        |                     |         |                     |        |       |        |        |        |        |        |      |         |
|----------------------------------------------|--------|--------|--------|---------------|--------|----------|--------|---------------|--------|---------------------|---------|---------------------|--------|-------|--------|--------|--------|--------|--------|------|---------|
|                                         |   |   |   | % of          |   |     |   | % of          |   | $                   |    | % of                |
| in thousands                                 |   | 2010   |   |  revenue |   | 2009 (1) |   |  revenue |   | Increase/(decrease) |    | Increase/(decrease) |
| Collectibles revenue                         |   | $      | 55,101 |          |   | 100.0    | %      |          | $      | 41,020              |    |                | 100.0  | %     |   | $      | 14,081 |   |   | 34.3 |  % |
| Gross profit                                 |   | 9,589  |   |          | 17.4   |     |   | 7,929         |   |                | 19.3    |                |   | 1,660 |   |   | 20.9   |   |
| Selling, general and administrative expenses |   | 3,571  |   |          | 6.5    |     |   | 2,313         |   |                | 5.6     |                |   | 1,258 |   |   | 54.4   |   |
| Salaries and wages                           |   | 3,269  |   |          | 5.9    |     |   | 3,957         |   |                | 9.6     |                |   | (688  | )      |   | (17.4  | )      |
| Depreciation and amortization                |   | 207    |   |          | 0.4    |     |   | 243           |   |                | 0.6     |                |   | (36   | )      |   | (14.8  | )      |
| Impairment of goodwill and intangible assets |   | 293    |   |          | 0.5    |     |   | —       |   |                | — |                |   | 293   |   |   | N/A    |   |
| Operating income (loss)                      |   | $      | 2,249  |          |   | 4.1      | %      |          | $      | 1,416               |    |                | 3.5    | %     |   | $      | 833    |   |   | 58.8 |  % |

|                             |                                                                                                                                                                                                                                                                                                                       |
|-----------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)     | The 2009 consolidated statement of operation and related segment disclosures have been restated for certain errors in the classification.  Such reclassifications did not result in an adjustment to the Company's reported net income.  See further discussion at Note [1] to the consolidated financial statements. |

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|                                              |        |        |         |               |        |          |        |               |        |                     |         |                     |        |        |        |        |        |        |        |       |         |
|----------------------------------------------|--------|--------|---------|---------------|--------|----------|--------|---------------|--------|---------------------|---------|---------------------|--------|--------|--------|--------|--------|--------|--------|-------|---------|
|                                         |   |   |    | % of          |   |     |   | % of          |   | $                   |    | % of                |
| in thousands                                 |   | 2010   |    |  revenue |   | 2009 (1) |   |  revenue |   | Increase/(decrease) |    | Increase/(decrease) |
| Collectibles revenue                         |   | $      | 100,533 |          |   | 100.0    | %      |          | $      | 88,578              |    |                | 100.0  | %      |   | $      | 11,955 |   |   | 13.5  |  % |
| Gross profit                                 |   | 14,980 |    |          | 14.9   |     |   | 14,386        |   |                | 16.2    |                |   | 594    |   |   | 4.1    |   |
| Selling, general and administrative expenses |   | 6,581  |    |          | 6.5    |     |   | 5,683         |   |                | 6.4     |                |   | 898    |   |   | 15.8   |   |
| Salaries and wages                           |   | 6,235  |    |          | 6.2    |     |   | 7,480         |   |                | 8.4     |                |   | (1,245 | )      |   | (16.6  | )      |
| Depreciation and amortization                |   | 416    |    |          | 0.4    |     |   | 522           |   |                | 0.6     |                |   | (106   | )      |   | (20.3  | )      |
| Impairment of goodwill and intangible assets |   | 293    |    |          | 0.3    |     |   | —       |   |                | — |                |   | 293    |   |   | N/A    |   |
| Operating income (loss)                      |   | $      | 1,455   |          |   | 1.4      | %      |          | $      | 701                 |    |                | 0.8    | %      |   | $      | 754    |   |   | 107.6 |  % |

|                             |                                                                                                                                                                                                                                                                                                                       |
|-----------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)     | The 2009 consolidated statement of operation and related segment disclosures have been restated for certain errors in the classification.  Such reclassifications did not result in an adjustment to the Company's reported net income.  See further discussion at Note [1] to the consolidated financial statements. |

|                                                 |        |        |         |               |        |        |       |        |
|-------------------------------------------------|--------|--------|---------|---------------|--------|--------|-------|--------|
| in thousands                                    |   | 2010   |    | 2009          |
|                                            |   |   |    | (As Restated) |
| Cash provided by (used in) operating activities |   | $      | (53,495 | )             |   | $      | 1,897 |   |
| Cash provided by investing activities           |   | 4,532  |    |          | 2,708  |   |
| Cash provided by (used in) financing activities |   | 64,300 |    |          | (5,510 | )      |

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|                                      |        |                       |         |        |        |        |         |         |        |        |         |             |        |         |         |        |         |        |         |        |        |   |         |        |
|--------------------------------------|--------|-----------------------|---------|--------|--------|--------|---------|---------|--------|--------|---------|-------------|--------|---------|---------|--------|---------|--------|---------|--------|--------|---|---------|--------|
|                                 |   | Payment due by period |
|                                 |   |                  |    |   |   | 2 to 3 |    | 3 to 4  |   | 4 to 5 |    | 5 years and |
| in thousands                         |   | Total                 |    | 1 year |   | years  |    | years   |   | years  |    | thereafter  |
| Borrowings under line of credit:     |   |                  |    |   |   |   |    |    |   |   |    |        |
|     Collectibles |   | $                     | 109,000 |   |   | $      | 109,000 |    |   | $      | — |        |   | $       | — |   |    | $      | — |   |   | $ | — |   |
|     Trading      |   | 5,000                 |    |   | 5,000  |   |    | — |   |   | — |        |   | — |    |   | — |   |
| Operating lease obligations          |   | 1,024                 |    |   | 619    |   |    | 293     |   |   | 112     |        |   | — |    |   | — |   |
| Total                                |   | $                     | 115,024 |   |   | $      | 114,619 |    |   | $      | 293     |        |   | $       | 112     |   |    | $      | — |   |   | $ | — |   |

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|                   |        |                                                                                                   |
|-------------------|--------|---------------------------------------------------------------------------------------------------|
| Exhibit 31.1 |   | Certification of Chief Executive Officer Under Section 302 of the Sarbanes-Oxley Act of 2002 |
|              |   |                                                                                              |
| Exhibit 31.2 |   | Certification of Chief Financial Officer Under Section 302 of the Sarbanes-Oxley Act of 2002 |
|              |   |                                                                                              |
| Exhibit 32.1 |   | Chief Executive Officer Certification Under Section 906 of the Sarbanes-Oxley Act of 2002    |
|              |   |                                                                                              |
| Exhibit 32.2 |   | Chief Financial Officer Certification Under Section 906 of the Sarbanes-Oxley Act of 2002    |

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|        |                   |                                    |                                    |                                             |        |
|--------|-------------------|------------------------------------|------------------------------------|---------------------------------------------|--------|
| Date:  | February 10, 2011 | SPECTRUM GROUP INTERNATIONAL, INC. |                               |
|   |              | By:                      | /s/ Gregory N. Roberts   |                                        |
|   |              |                               | Name:                    | Gregory N. Roberts                     |   |
|   |              |                               | Title:                   | President and Chief Executive Officer  |   |

|                        |        |                                                                                          |        |                   |
|------------------------|--------|------------------------------------------------------------------------------------------|--------|-------------------|
| Signatures             |   | Title(s)                                                                                 |   | Date              |
|                   |   |                                                                                     |   |              |
| /s/ Gregory N. Roberts |   | President, Chief Executive Officer and Director(Principal Executive Officer)             |   | February 10, 2011 |
| Gregory N. Roberts     |   |                                                                                     |   |              |
|                   |   |                                                                                     |   |              |
| /s/ Paul Soth          |   | Chief Financial Officer and Executive Vice President (Principal Financial Officer)  |   | February 10, 2011 |
| Paul Soth              |   |                                                                                     |   |              |
|                   |   |                                                                                     |   |              |
|                   |   |                                                                                     |   |              |
|                   |   |                                                                                     |   |              |