|   | 1. | I      have reviewed this quarterly report on Form 10-Q of DGSE Companies,      Inc.; |
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|   | 2. | Based      on my knowledge, this quarterly report does not contain any untrue      statement of a material fact or omit to state a material fact necessary to      make the statements made, in light of the circumstances under which such      statements were made, not misleading with respect to the period covered by      this quarterly report; |
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|   | 3. | Based      on my knowledge, the financial statements, and other financial information      included in this quarterly report, fairly present in all material respects      the financial condition, results of operations and cash flows of the      Company as of, and for, the periods presented in this quarterly      report; |
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|   | 4. | The      Company’s other certifying officers and I are responsible for establishing      and maintaining disclosure controls and procedures (as defined in Exchange      Act Rules 13a-14 and 15d-14) for the Company and we  have: |
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|   | a. | designed      such disclosure controls and procedures to ensure that material      information relating to the Company, including its consolidated      subsidiaries, is made known to us by others within those entities,      particularly during the period in which this quarterly report is being      prepared; |
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|   | b. | Evaluated      the effectiveness of the Company’s disclosure controls and procedures as      of a date within 90 days prior to the filing date of this quarterly report      (the “Evaluation Date”); and |
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|   | c. | Presented      in this quarterly report our conclusions about the effectiveness of the      disclosure controls and procedures based on our evaluation as of the      Evaluation Date; |
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|   | 5. | The      Company’s other certifying officers and I have disclosed, based on our      most recent evaluation, to the Company’s auditors and the audit committee      of the Company’s board of directors (or persons performing the equivalent      functions): |
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|   | a. | all      significant deficiencies in the design or operation of internal controls      which could adversely    affect  the      Company’s ability to record, process, summarize and report financial data      and have identified for the Company’s auditors any material weakness in      internal controls; and |
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|   | b. | any      fraud, whether or not material, that involves management or other      employees who have a significant role in the Company’s internal controls;      and |
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|  | 6. | The      Company’s other certifying officers and I have indicated in this quarterly      report whether or not there were significant changes in internal controls      or in other factors that could significantly affect internal controls      subsequent to the date of our most recent evaluation, including any      corrective action with regard to significant deficiencies and material      weaknesses. |
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| Date:      May 14, 2009 | /s/ John Benson  - Chief Financial      Officer |   |
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