|   |   |                                                                                              |
|--------|--------|---------------------------------------------------------------------------------------------------|
| þ |   | 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 |
|---|--------|----------------------------------------------------------------------------------------------------|

|                                 |   |                     |
|--------------------------------------|--------|--------------------------|
| Nevada                               |   | 88-0097334               |
| (State      or other jurisdiction of |   | (I.R.S.      Employer    |
| incorporation      or organization)  |   | Identification      No.) |

| Large      accelerated filer o | Accelerated      filer o              |
|--------------------------------|---------------------------------------|
| Non-accelerated      filer o   | Smaller      reporting company þ |

| Class                                       |   | Outstanding |
|---------------------------------------------|--------|-------------|
| Common      stock, $.01 par value per share |   | 9,833,635   |

----

| PART      I.  | FINANCIAL      INFORMATION                                                                             |                                                                                             | Page No.      |
|---------------|--------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------|---------------|
|          |                                                                                                   |                                                                                             |          |
| Item      1.  | Consolidated      Financial Statements.                                                                |                                                                                             |          |
|          |                                                                                                   |                                                                                             |          |
|          | Consolidated      Balance Sheets as of June 30, 2009 and December 31, 2008                             |                  |        1 |
|          |                                                                                                   |                                                                                             |          |
|          | Consolidated      Statements of Operations for the six months ended June 30, 2009 and      2008        |                                                                                             | 2             |
|          |                                                                                                   |                                                                                             |          |
|          | Consolidated      Statements of Cash Flows for the three months ended June 30, 2009 and      2008      |                                                                                             | 3             |
|          |                                                                                                   |                                                                                             |          |
|          | Notes      to Consolidated Financial Statements                                                        |                                                                                             | 5             |
|          |                                                                                                   |                                                                                             |          |
| Item      2.  | Management’s      Discussion and Analysis of Financial Condition and Results of      Operations. |                                                                                             | 12            |
|          |                                                                                                   |                                                                                             |          |
| Item      3.  | Quantitative      and Qualitative Disclosures About Market Risk.                                       |                                                                                             | 17            |
|          |                                                                                                   |                                                                                             |          |
| Item      4.  | Controls      and Procedures.                                                                          |                                                                                             | 18            |
|          |                                                                                                   |                                                                                             |          |
| PART      II. | OTHER      INFORMATION                                                                                 |                                                                                             |          |
|          |                                                                                                   |                                                                                             |          |
| Item      3.  | Legal      Proceedings.                                                                                |                                                                                             | 19            |
|          |                                                                                                   |                                                                                             |          |
| Item      5.  | Other      Information.                                                                                |                                                                                             | 19            |
|          |                                                                                                   |                                                                                             |          |
| Item      6.  | Exhibits.                                                                                              |                                                                                             | 19            |
|          |                                                                                                   |                                                                                             |          |
| SIGNATURES    |                                                                                                   |                                                                                             |          |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | June      30,2009 |          |   | December      31, 2008 |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|---------------|--------|------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | Unaudited         |          |   |                   |   |
| ASSETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |              |          |   |                   |   |
| Current      Assets:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |              |          |   |                   |   |
|     Cash      and cash      equivalents                                                                                                                                                           |   | $                 | 1,244,871     |   |                   | $      | 244,429 |   |
|     Trade      receivables                                                                                                                                                                        |   |              | 1,459,641     |   |                   |   | 2,326,337 |   |
|     Inventories                                                                                                                                                                                   |   |              | 15,773,614    |   |                   |   | 16,052,833 |   |
|     Prepaid      expenses                                                                                                                                                                         |   |              | 675,888       |   |                   |   | 533,318 |   |
|     Prepaid      federal income      tax                                                                                                                                                          |   |              | 536,599       |   |                   |   | 639,372 |   |
|     Current      assets of discontinued      operations                                                                                                                                           |   |              | --0--         |   |                   |   | 900,306 |   |
|                 Total      current      assets                                                                                        |   |              | 19,690,613    |   |                   |   | 20,696,595 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |              |          |   |                   |   |   |   |
| Property      and equipment,      net                                                                                                                                                                                 |   |              | 4,797,727     |   |                   |   | 4,868,306 |   |
| Deferred      income      taxes                                                                                                                                                                                       |   |              | 1,857,901     |   |                   |   | 1,908,032 |   |
| Goodwill                                                                                                                                                                                                              |   |              | 837,117       |   |                   |   | 837,117 |   |
| Intangible      assets                                                                                                                                                                                                |   |              | 2,464,006     |   |                   |   | 2,492,673 |   |
| Other      assets                                                                                                                                                                                                     |   |              | 282,401       |   |                   |   | 235,917 |   |
| Non-current      assets of discontinued operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |              | 305,275       |   |                   |   | 305,275 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | $                 | 30,235,040    |   |                   | $      | 31,343,915 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |              |          |   |                   |   |   |   |
| LIABILITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |              |          |   |                   |   |   |   |
| Current      Liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |              |          |   |                   |   |   |   |
|     Notes      payable                                                                                                                                                                            |   | $                 | 44,971        |   |                   | $      | 191,078 |   |
|     Current      maturities of long-term      debt                                                                                                                                                |   |              | 340,357       |   |                   |   | 599,972 |   |
|     Line      of      credit                                                                                                                                                                      |   |              | 3,195,000     |   |                   |   | 3,595,000 |   |
|     Accounts      payable –      trade                                                                                                                                                      |   |              | 320,525       |   |                   |   | 734,906 |   |
|     Accrued      expenses                                                                                                                                                                         |   |              | 108,461       |   |                   |   | 647,536 |   |
|     Customer      deposits                                                                                                                                                                        |   |              | 982,748       |   |                   |   | 1,230,991 |   |
|     Current      liabilities of discontinued operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |              | --0---        |   |                   |   | 33,144 |   |
|                  Total      current      liabilities                                                                             |   |              | 4,992,062     |   |                   |   | 7,032,627 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |              |          |   |                   |   |   |   |
| Long-term      debt, less current      maturities                                                                                                                                                                     |   |              | 11,723,285    |   |                   |   | 11,715,765 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |              | 16,715,347    |   |                   |   | 18,748,392 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |              |          |   |                   |   |   |   |
| STOCKHOLDERS’      EQUITY                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |              |          |   |                   |   |   |   |
| Common      stock, $.01 par value; 30,000,000 shares authorized; 9,833,635 and      9,833,635 shares issued and outstanding at the end of each period in 2009      and 2008, respectively                                                                                                                                                                                                                                                                                                                                                                                                                         |   |              |   98,337 |   |                   |   |   98,337 |   |
| Additional      paid-in      capital                                                                                                                                                                                  |   |              | 18,546,812    |   |                   |   | 18,541,662 |   |
| Retained      deficit                                                                                                                                                                                                 |   |              | (5,125,456    | )      |                   |   | (6,044,476 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |              | 13,519,693    |   |                   |   | 12,595,523 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |              |          |   |                   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | $                 | 30,235,040    |   |                   | $      | 31,343,915 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | Six      months ended June      30, |       |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------|------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | 2009                                |       |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | Unaudited                           |       |
| Revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                |       |   |   |   |
|      Sales                                                                                                                                                               |   | $                                   | 46,973,641 |   |   | $ | 56,757,456 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                | 46,973,641 |   |   |   | 56,757,456 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                |       |   |   |   |   |   |
| Costs      and expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                |       |   |   |   |   |   |
|     Cost      of goods      sold                                                                                                                                              |   |                                | 40,391,750 |   |   |   | 50,043,731 |   |
|     Selling,      general and administrative expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                | 4,585,826  |   |   |   | 4,977,240 |   |
|     Depreciation      and      amortization                                                                                                                                   |   |                                | 117,682    |   |   |   | 131,633 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                | 45,095,528 |   |   |   | 55,152,604 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                |       |   |   |   |   |   |
| Operating      income                                                                                                                                                                                                                          |   |                                | 1,878,383  |   |   |   | 1,640,852 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                |       |   |   |   |   |   |
| Other      expense (income)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                |       |   |   |   |   |   |
|     Other      income                                                                                                                                                         |   |                                | ---        |   |   |   | (11,635 | ) |
|     Interest      expense                                                                                                                                                     |   |                                | 384,556    |   |   |   | 345,636 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                |       |   |   |   |   |   |
| Earnings      before income      taxes                                                                                                                                                                                                         |   |                                | 1,493,827  |   |   |   | 1,270,851 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                |       |   |   |   |   |   |
| Income      tax      expense                                                                                                                                                                      |   |                                | 233,183    |   |   |   | 343,980 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                |       |   |   |   |   |   |
| Net      earnings from continuing operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                | 1,260,644  |   |   |   | 926,871 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                |       |   |   |   |   |   |
| Discontinued      operations:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                |       |   |   |   |   |   |
|     Gain      (Loss) from discontinued operations (less applicable income tax of      $(63,143) and $10,459, respectively)                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                | (341,624   | ) |   |   | 40,308 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                |       |   |   |   |   |   |
|             Net      earnings                                                                                                         |   | $                                   | 919,020    |   |   | $ | 967,179 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                |       |   |   |   |   |   |
| Earnings      per common share – basic and diluted                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |                                |       |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                |       |   |   |   |   |   |
|       From      continuing      operations                                                                                                                          |   | $                                   | 0.13       |   |   | $ | 0.10 |   |
|       From      discontinued      operations                                                                                                                        |   | $                                   | (0.04      | ) |   | $ | (0.01 | ) |
|              Net      earnings per common      share                                                                             |   | $                                   | 0.09       |   |   | $ | 0.09 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                |       |   |   |   |   |   |
| Weighted      average number of common shares                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                |       |   |   |   |   |   |
|    Basic                                                                                                                                                                           |   |                                | 9,833,635  |   |   |   | 9,498,729 |   |
|    Diluted                                                                                                                                                                         |   |                                | 9,833,635  |   |   |   | 10,344,363 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | Three      months ended June      30, |       |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | 2009                                  |       |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | Unaudited                             |       |
| Revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                  |       |   |   |   |
|      Sales                                                                                                                                                               |   | $                                     | 21,633,859 |   |   | $ | 25,145,908 |   |
|           Consumer loan service      charges                                                                                                                                  |   |                                  | -0-        |   |   |   | -0- |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                  | 21,633,859 |   |   |   | 25,145,908 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                  |       |   |   |   |   |   |
| Costs      and expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                  |       |   |   |   |   |   |
|     Cost      of goods      sold                                                                                                                                              |   |                                  | 18,206,607 |   |   |   | 21,927,979 |   |
|     Selling,      general and administrative expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                  | 2,283,504  |   |   |   | 2,611,337 |   |
|     Depreciation      and      amortization                                                                                                                                   |   |                                  | 67,231     |   |   |   | 58,651 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                  | 20,557,342 |   |   |   | 24,597,967 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                  |       |   |   |   |   |   |
| Operating      income                                                                                                                                                                                                                          |   |                                  | 1,076,517  |   |   |   | 547,941 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                  |       |   |   |   |   |   |
| Other      expense (income)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                  |       |   |   |   |   |   |
|     Other      income                                                                                                                                                         |   |                                  | ---        |   |   |   | (11,633 | ) |
|     Interest      expense                                                                                                                                                     |   |                                  | 237,472    |   |   |   | 175,197 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                  |       |   |   |   |   |   |
| Earnings      before income      taxes                                                                                                                                                                                                         |   |                                  | 839,045    |   |   |   | 384,377 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                  |       |   |   |   |   |   |
| Income      tax      expense                                                                                                                                                                      |   |                                  | 179,137    |   |   |   | 17,360 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                  |       |   |   |   |   |   |
| Net      earnings from continuing operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                  | 659,908    |   |   |   | 367,017 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                  |       |   |   |   |   |   |
| Discontinued      operations:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                  |       |   |   |   |   |   |
|     Income      from discontinued operations (less applicable income tax benefit of $8,034      and $5,805, respectively)                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                  | 29,596     |   |   |   | 122,907 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                  |       |   |   |   |   |   |
|             Net      earnings                                                                                                         |   | $                                     | 689,504    |   |   | $ | 489,924 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                  |       |   |   |   |   |   |
| Earnings      per common share – basic and diluted                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |                                  |       |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                  |       |   |   |   |   |   |
|       From      continuing      operations                                                                                                                          |   | $                                     | 0.07       |   |   | $ | 0.05 |   |
|       From      discontinued      operations                                                                                                                        |   | $                                     | 0.00       |   |   | $ | (.01 | )  |
|              Net      earnings per common      share                                                                             |   | $                                     | 0.07       |   |   | $ | 0.04 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                  |       |   |   |   |   |   |
| Weighted      average number of common shares                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                  |       |   |   |   |   |   |
|    Basic                                                                                                                                                                           |   |                                  | 9,833,635  |   |   |   | 9,498,729 |   |
|    Diluted                                                                                                                                                                         |   |                                  | 9,833,635  |   |   |   | 10,344,363 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | Six      months endedJune      30, |           |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------|----------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 2009                               |           |   | 2008 |   |
| Cash      flows from operating activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Unaudited                          |           |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                               |           |   |   |   |
| Net      earnings                                                                                                                                              |   | $                                  | 919,020        |   |   | $ | 967,179 |   |
| Adjustments      to reconcile net earnings to net cash provided by operating      activities                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                               |           |   |   |   |   |   |
|       Depreciation      and      amortization                                                                                    |   |                               | 117,682        |   |   |   | 131,633 |   |
|       Deferred      income      taxes                                                                                            |   |                               | 50,131         |   |   |   | 88,074 |   |
|       Loss      on marketable      securities                                                                                    |   |                               | --             |   |   |   | 41,237 |   |
|       Gain      on disposal of discontinued operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                               | (380,895       | ) |   |   | -- |   |
| (Increase)      decrease in operating assets and liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                               |           |   |   |   |   |   |
|       Trade      receivables                                                                                                     |   |                               | 875,159        |   |   |   | (1,526,674 | ) |
|       Inventories                                                                                                                |   |                               | 279,219        |   |   |   | (2,008,782 | ) |
|       Prepaid      expenses and other current assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                               | (      142,570 | ) |   |   | (254,250 | ) |
|       Accounts      payable and accrued      expenses                                                                            |   |                               | (1,098,890     | ) |   |   | 2,028,613 |   |
|       Customer      deposits                                                                                                     |   |                               | (248,243       | ) |   |   | 876,197 |   |
|       Federal      income taxes      payable                                                                                     |   |                               | 102,773        |   |   |   | 254,810 |   |
|       Other      assets                                                                                                          |   |                               | (46,484        | ) |   |   | 81,589 |   |
| Net      cash provided by operating activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                               | 426,902        |   |   |   | 679,626 |   |
| Cash      flows from investing activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                               |           |   |   |   |   |   |
|       Pawn      loans      made                                                                                                  |   |                               | (635,020       | ) |   |   | (617,382 | ) |
|       Pawn      loans      repaid                                                                                                |   |                               | 328,074        |   |   |   | 291,528 |   |
|       Recovery      of pawn loan principal through sale of forfeitedcollateral                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                               | 298,483        |   |   |   | 315,363 |   |
|       Proceeds      from sale of discontinued operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                               | 1,324,450      |   |   |   | -- |   |
|       Merger      costs      paid                                                                                                |   |                               | --             |   |   |   | (61,699 | ) |
|       Purchase      of property and      equipment                                                                               |   |                               | (90,352        | ) |   |   | (644,825 | ) |
| Net      cash provided by (used in) investing activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                               | 1,225,635      |   |   |   | (717,015 | ) |
| Cash      flows from financing activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                               |           |   |   |   |   |   |
| Proceeds      from line of      credit                                                                                                                                        |   |                               | --             |   |   |   | 1,250,000 |   |
| Payments      of capital      lease                                                                                                                                           |   |                               | --             |   |   |   | (3,972 | ) |
| Repayments      of notes      payable                                                                                                                                         |   |                               | (652,095       | ) |   |   | (811,136 | ) |
|          Net      cash provided by (used in) financing activities                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                               | (652,095       | ) |   |   | 434,892 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                               |           |   |   |   |   |   |
| NET      INCREASE IN CASH AND    CASH    EQUIVALENTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                               | 1,000,442      |   |   |   | 397,503 |   |
| Cash      and cash equivalents at beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                               | 244,429        |   |   |   | 536,548 |   |
| Cash      and cash equivalents at end of      period                                                                                                           |   | $                                  | 1,244,871      |   |   | $ | 934,051 |   |

----

|                          |   | June 30, 2009 |       |   | December 31, 2008 |   |
|-------------------------------|--------|---------------|------------|--------|-------------------|--------|
| Jewelry                       |   | $             | 9,939,555  |   |              | $      | 10,925,247 |   |
| Rare      coins               |   |          | 2,495,797  |   |              |   | 1,827,294 |   |
| Bullion                       |   |          | 2,875,684  |   |              |   | 1,931,925 |   |
| Scrap      gold               |   |          | 462,578    |   |              |   | 636,843 |   |
| Other                         |   |          | --         |   |              |   |  731,524 |   |
|     Total |   | $             | 15,773,614 |   |              | $      | 16,052,833 |   |

----

|                                   |   | 2009                             |     |   | 2008                             |   |
|----------------------------------------|--------|----------------------------------|----------|--------|----------------------------------|--------|
|                                   |   | Three      months ended June 30, |     |   | Three      months ended June 30, |   |
|                                   |   | Net      Earnings                |     |   | Shares                           |   |   | Per      share |   |   | Net      Earnings |   |   | Shares |   |   | Per      share |   |
| Basic      earnings per common share   |   | $                                | 689,504  |   |                             |   | 9,833,635 |   |   | $ | 0.07 |   |   | $ | 489,924 |   |   |   | 9,498,729 |   |   | $ | 0.05 |   |
| Effect      of dilutive stock options  |   |                             |  -- |   |                             |   | -- |   |   |   |  -- |   |   |   |  -- |   |   |   | 845,634 |   |   |   | (.01 | )  |
|                                   |   |                             |     |   |                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted      earnings per common share |   | $                                | 689,504  |   |                             |   | 9,833,635 |   |   | $ | 0.07 |   |   | $ | 489,924 |   |   |   | 10,344,363 |   |   | $ | 0.04 |   |

| Earnings      per common share fromcontinuing      operations: |   | 2009                           |     |   | 2008                           |   |
|----------------------------------------------------------------|--------|--------------------------------|----------|--------|--------------------------------|--------|
|                                                           |   | Six      months ended June 30, |     |   | Six      months ended June 30, |   |
|                                                           |   | Net      Earnings              |     |   | Shares                         |   |   | Per      share |   |   | Net      Earnings |   |   | Shares |   |   | Per      share |   |
| Basic      earnings per common share                           |   | $                              | 919,020  |   |                           |   | 9,833,635 |   |   | $ | 0.09 |   |   | $ | 967,159 |   |   |   | 9,498,729 |   |   | $ | 0.10 |   |
| Effect      of dilutive stock options                          |   |                           |  -- |   |                           |   | -- |   |   |   |  -- |   |   |   |  -- |   |   |   | 845,634 |   |   |   |  (.01 | ) |
|                                                           |   |                           |     |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted      earnings per common share                         |   | $                              | 919,020  |   |                           |   | 9,833,635 |   |   | $ | 0.09 |   |   | $ | 967,159 |   |   |   | 10,344,363 |   |   | $ | 0. 09 |   |

----

| (In      thousands)                |   | Retail      Jewelry |   |   | WholesaleJewelry |   |   | Precious      Metals |   |   | Rare      Coins |   |   | Discontinued      Operations |   |   | Corporate      and Other |   |   | Consolidated |   |
|------------------------------------|--------|---------------------|--------|--------|------------------|--------|--------|----------------------|--------|--------|-----------------|--------|--------|------------------------------|--------|--------|--------------------------|--------|--------|--------------|--------|
| Revenues                           |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |
|      2009 |   | $                   | 5,597  |   |             | $      | 848    |                 |   | $      | 10,329          |   |   | $                            | 4,860  |   |                     | $      | --     |         |   | $ | -- |   |   | $ | 21,634 |   |
|      2008 |   |                | 7,758  |   |             |   | 1,139  |                 |   |   | 11,993          |   |   |                         | 4,256  |   |                     |   | --     |         |   |   | -- |   |   |   | 25,146 |   |
|                               |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
| Net      earnings (loss)           |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
|      2009 |   |                | 348    |   |             |   | (30    | )                    |   |   | 95              |   |   |                         | 342    |   |                     |   | 29     |         |   |   | (94 | ) |   |   | 690 |   |
|      2008 |   |                | 397    |   |             |   | 15     |                 |   |   | 35              |   |   |                         | 12     |   |                     |   | 123    |         |   |   | (92 | ) |   |   | 490 |   |
|                               |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
| Identifiable      assets           |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
|      2009 |   |                | 21,121 |   |             |   | 1,793  |                 |   |   | 1,958           |   |   |                         | 3,006  |   |                     |   | 305    |         |   |   | 2,052 |   |   |   | 30,235 |   |
|      2008 |   |                | 20,478 |   |             |   | 2,177  |                 |   |   | 1,180           |   |   |                         | 3,790  |   |                     |   | 3,131  |         |   |   | 10,606 |   |   |   | 41,362 |   |
|                               |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
| Goodwill                           |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
|      2009 |   |                | --     |   |             |   | 837    |                 |   |   | --              |   |   |                         | --     |   |                     |   | --     |         |   |   | -- |   |   |   | 837 |   |
|      2008 |   |                | --     |   |             |   | 837    |                 |   |   | --              |   |   |                         | --     |   |                     |   | --     |         |   |   | 8,115 |   |   |   | 8,952 |   |
|                               |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
| Capital      Expenditures          |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
|      2009 |   |                | (15    | )      |             |   | --     |                 |   |   | --              |   |   |                         | --     |   |                     |   | --     |         |   |   | -- |   |   |   | (15 | ) |
|      2008 |   |                | 248    |   |             |   | --     |                 |   |   | --              |   |   |                         | --     |   |                     |   | 111    |         |   |   | -- |   |   |   | 359 |   |
|                               |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
| Depreciation      and amortization |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
|      2009 |   |                | 67     |   |             |   | --     |                 |   |   | --              |   |   |                         | --     |   |                     |   | --     |         |   |   | -- |   |   |   | 67 |   |
|      2008 |   |                | 32     |   |             |   | --     |                 |   |   | 14              |   |   |                         | 13     |   |                     |   | --     |         |   |   | -- |   |   |   | 59          |   |

----

| (In      thousands)                |   | Retail      Jewelry |   |   | WholesaleJewelry |   |   | Precious      Metals |   |   | Rare      Coins |   |   | Discontinued      Operations |   |   | Corporate      and Other |   |   | Consolidated |   |
|------------------------------------|--------|---------------------|--------|--------|------------------|--------|--------|----------------------|--------|--------|-----------------|--------|--------|------------------------------|--------|--------|--------------------------|--------|--------|--------------|--------|
| Revenues                           |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |
|      2009 |   | $                   | 12,146 |   |             | $      | 1,800  |                 |   | $      | 24,024          |   |   | $                            | 9,003  |   |                     | $      | --     |         |   | $ | --- |   |   | $ | 46,973 |   |
|      2008 |   |                | 14,271 |   |             |   | 2,497  |                 |   |   | 28,856          |   |   |                         | 11,133 |   |                     |   | --     |         |   |   | -- |   |   |   | 56,757 |   |
|                               |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
| Net      earnings (loss)           |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
|      2009 |   |                | 508    |   |             |   | (81    | )                    |   |   | 435             |   |   |                         | 510    |   |                     |   | (342   | )            |   |   | (111 | ) |   |   | 919 |   |
|      2008 |   |                | 606    |   |             |   | 47     |                 |   |   | 371             |   |   |                         | 24     |   |                     |   | 29     |         |   |   | (110 | ) |   |   | 967 |   |
|                               |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
| Identifiable      assets           |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
|      2009 |   |                | 21,121 |   |             |   | 1,793  |                 |   |   | 1,958           |   |   |                         | 3,006  |   |                     |   | 305    |         |   |   | 2,052 |   |   |   | 30,235 |   |
|      2008 |   |                | 20,478 |   |             |   | 2,177  |                 |   |   | 1,180           |   |   |                         | 3,790  |   |                     |   | 31317  |         |   |   | 10,606 |   |   |   | 41,362 |   |
|                               |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
| Goodwill                           |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
|      2009 |   |                | --     |   |             |   | 837    |                 |   |   | --              |   |   |                         | --     |   |                     |   | --     |         |   |   | -- |   |   |   | 837 |   |
|      2008 |   |                | --     |   |             |   | 837    |                 |   |   | --              |   |   |                         | --     |   |                     |   | --     |         |   |   | 8,115 |   |   |   | 8,952 |   |
|                               |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
| Capital      Expenditures          |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
|      2009 |   |                | 105    |   |             |   | --     |                 |   |   | --              |   |   |                         | --     |   |                     |   | --     |         |   |   | -- |   |   |   | 105 |   |
|      2008 |   |                | 520    |   |             |   | --     |                 |   |   | --              |   |   |                         | --     |   |                     |   | 125    |         |   |   | -- |   |   |   | 645 |   |
|                               |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
| Depreciation      and amortization |   |                |   |   |             |   |   |                 |   |   |            |   |   |                         |   |   |                     |   |   |         |   |   |   |   |   |   |   |   |
|      2009 |   |                | 118    |   |             |   | --     |                 |   |   | --              |   |   |                         | --     |   |                     |   | --     |         |   |   | -- |   |   |   | 118 |   |
|      2008 |   |                | 76     |   |             |   | --     |                 |   |   | 28              |   |   |                         | 27     |   |                     |   | 62     |         |   |   | -- |   |   |   | 193 |   |

----

| Assets                                                              |   |   |                |
|---------------------------------------------------------------------|--------|--------|---------------------|
|    Accounts      receivable                          |   | $      |    0 |   |
|         Current      assets |   | $      | 0                   |   |
|    Long-term      receivable                         |   | $      | 305,275             |   |
|         Total      assets   |   | $      | 305,275             |   |
| Liabilities                                                         |   |   |                |   |
|    Auctions      payable                             |   | $      | 0                   |   |

----

----

----

----

----

----

----

| As      of June 30, 2009                             |   | Requirement                    |   | Actual      calculation |
|------------------------------------------------------|--------|--------------------------------|--------|-------------------------|
| Minimum      tangible net worth                      |   | 10,500,000                     |   | 12,838,477              |
| Maximum      total liabilities to tangible net worth |   | Not      to exceed 1.00        |   | .53                     |
| Minimum      debt service coverage                   |   | Must      be greater than 1.40 |   | 2.06                    |

----

|                                                                                                                                                                                                                                                                                 |   |  Payments due by      period |                                            |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|-------------------------------------------------|
| Contractual Cash      Obligations                                                                                                                                                                                                                                                    |   |                              | Total        |   |   |   |   2009             |   |   |   | 2010      - 2011    |   |   |   |   2012 – 2013 |   |   |   | Thereafter  |   |
| Notes      payable                                            |   | $                                 | 3,239,971                                       |   |   | $ | 44,971 |   |   | $ | 3,195,000 |   |   | $ | -- |   |   | $ | -- |   |
| Long-term      debt and capital leases                                                                                                                                                                                                                                               |   |                              | 12,063,642                                      |   |   |   | 340,357 |   |   |   | 9,403,271 |   |   |   | 469,381 |   |   |   | 1,850,633 |   |
| Operating      Leases                                                                                                                                                                                                                                                                |   |                              |  2,326,732                                 |   |   |   |  332,490 |   |   |   |  1,237,026 |   |   |   | 757,216 |   |   |   |  -- |   |
| Total                                                                                                                                                                                                                                                                                |   | $                                 | 17,630,345                                      |   |   | $ | 717,818 |   |   | $ | 13,835,297 |   |   | $ | 1,226,597 |   |   | $ | 1,850,633 |   |

----

----

| Item      3. | Legal      Proceedings |
|--------------|------------------------|

| Item      5. | Other      Information. |
|--------------|-------------------------|

| Item      6. | Exhibits      and Reports on  Form 8-K. |
|--------------|---------------------------------------------------|

| ExhibitNo.         |   | Description                                                                                                      |   | FiledHerein |   | Incorporatedby      Reference |   | Form   |   | Date      Filedwith      SEC |   | ExhibitNo.                       |
|--------------------|--------|------------------------------------------------------------------------------------------------------------------|--------|-------------|--------|-------------------------------|--------|--------|--------|------------------------------|--------|----------------------------------|
| 2.1           |   | Amended      and Restated Agreement and Plan of Merger and Reorganization, dated as of      January 6, 2007 |   |        |   | ×                        |   | 8-K    |   | January 9,      2007    |   | 2.1                              |
|          |   |                                                                                                             |   |        |   |                          |   |   |   |                         |   |              |
| 2.2           |   | Limited      Joinder Agreement, dated as of January 6, 2007                                                 |   |        |   | ×                        |   | 8-K    |   | January 9,      2007    |   | 2.9                         |
|          |   |                                                                                                             |   |        |   |                          |   |   |   |                         |   |              |
| 3.1           |   | Articles      of Incorporation dated September 17, 1965                                                     |   |        |   | ×                        |   | 8-A12G |   | June 23,      1999      |   | 3.1                         |
|          |   |                                                                                                             |   |        |   |                          |   |   |   |                         |   |              |
| 3.2           |   | Certificate      of Amendment to Articles of Incorporation, dated October 14,      1981                     |   |        |   | ×                        |   | 8-A12G |   | June 23,      1999      |   | 3.2                         |
|          |   |                                                                                                             |   |        |   |                          |   |   |   |                         |   |              |
| 3.3           |   | Certificate      of Resolution, dated October 14, 1981                                                      |   |        |   | ×                        |   | 8-A12G |   | June 23,      1999      |   | 3.3                         |
|          |   |                                                                                                             |   |        |   |                          |   |   |   |                         |   |              |
| 3.4           |   | Certificate      of Amendment to Articles of Incorporation , dated July 15,      1986                       |   |        |   | ×                        |   | 8-A12G |   | June 23,      1999      |   | 3.4                         |
|          |   |                                                                                                             |   |        |   |                          |   |   |   |                         |   |              |
| 3.5           |   | Certificate      of Amendment to Articles of Incorporation, dated August 23,      1998                      |   |        |   | ×                        |   | 8-A12G |   | June 23,      1999      |   | 3.5                         |
|          |   |                                                                                                             |   |        |   |                          |   |   |   |                         |   |              |
| 3.6           |   | Certificate      of Amendment to Articles of Incorporation, dated June 26,      1992                        |   |        |   | ×                        |   | 8-A12G |   | June 23,      1999      |   | 3.6                         |

----

| 3.7           |   | Certificate      of Amendment to Articles of Incorporation, dated June 26,      2001                                                            |   |   |   | × |   | 8-K    |   | July 3,      2001    |   | 1.0                              |
|--------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|---------------------------|--------|----------------------------------|
|               |   |                                                                                                                                                 |   |   |   |   |   |   |   |                      |   |                             |
| 3.8                |   | Certificate      of Amendment to Articles of Incorporation, dated May 22,    2007                                                                    |   |   |   | x      |   | 8-K    |   | May      31, 2007         |   | 3.1                              |
|          |   |                                                                                                                                                 |   |   |   |   |   |   |   |                      |   |              |
| 3.9           |   | By-laws,      dated March 2, 1992                                                                                                               |   |   |   | × |   | 8-A12G |   | June 23,      1999   |   | 3.7                              |
|          |   |                                                                                                                                                 |   |   |   |   |   |   |   |                      |   |              |
| 4.1           |   | Specimen      Common Stock Certificate                                                                                                               |   |   |   | × |   | S-4    |   | January 6,      2007 |   | 4.1                              |
|          |   |                                                                                                                                                 |   |   |   |   |   |   |   |                      |   |              |
| 10.1          |   | Renewal,      Extension And Modification Agreement dated January 28, 1994, by and among      DGSE Corporation and Michael E. Hall And Marian E. Hall |   |   |   | × |   | 10-KSB |   | March      1995           |   | 10.2                             |
|          |   |                                                                                                                                                 |   |   |   |   |   |   |   |                      |   |              |
| 10.2          |   | Lease      Agreement dated June 2, 2000 by and between SND Properties and      Charleston Gold and Diamond Exchange, Inc.                       |   |   |   | × |   | 10-KSB |   | March 29,      2001  |   | 10.1                             |
|          |   |                                                                                                                                                 |   |   |   |   |   |   |   |                      |   |              |
| 10.3          |   | Lease      agreement dated October 5, 2004 by and between Beltline Denton Road      Associates and Dallas Gold & Silver Exchange                 |   |   |   | × |   | 10-K   |   | April 15,      2005  |   | 10.2                             |
|          |   |                                                                                                                                                 |   |   |   |   |   |   |   |                      |   |              |
| 10.4          |   | Lease      agreement dated December 1, 2004 by and between Stone Lewis Properties and      Dallas Gold & Silver Exchange                         |   |   |   | × |   | 10-K   |   | April 15,      2005  |   | 10.3                             |
|          |   |                                                                                                                                                 |   |   |   |   |   |   |   |                      |   |              |
| 10.5          |   | Lease      agreement dated November 18, 2004 by and between Hinkle Income Properties      LLC and American Pay Day Centers, Inc.                     |   |   |   | × |   | 10-K   |   | April 15,      2005  |   | 10.4                             |
|          |   |                                                                                                                                                 |   |   |   |   |   |   |   |                      |   |              |
| 10.6          |   | Lease      Agreement dated January 17, 2005 by and between Belle-Hall Development      Phase III Limited Partnership and DGSE Companies, Inc.        |   |   |   | × |   | S-4    |   | January 6,      2007 |   | 10.6                             |
|               |   |                                                                                                                                                 |   |   |   |   |   |   |   |                      |   |                             |
| 10.7               |   | Sale      agreement dated executed July 5, 2007 by and between DGSE Companies,      Inc. and Texas Department of Transportation                 |   |   |   | × |   | 8-K    |   | July      11, 2007        |   | 10.1                             |

----

| 10.8               |   | Purchase      agreement dated July 5, 2007 by and between DGSE Companies, Inc. and      11311 Reeder Road Holdings, LP              |   |   |   | × |   | 8-K    |   | July      11, 2007        |   | 10.2                             |
|--------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|---------------------------|--------|----------------------------------|
|          |   |                                                                                                                                     |   |   |   |   |   |   |   |                      |   |              |
| 10.9          |   | Loan      Agreement, dated as of December 22, 2005, between DGSE Companies,      Inc. and Texas Capital Bank, N.A.                  |   |   |   | × |   | 8-K/A  |   | August 17,      2006 |   | 10.1                             |
|          |   |                                                                                                                                     |   |   |   |   |   |   |   |                      |   |              |
| 10.10         |   | Third      Amendment to Loan Agreement, dated as of May 10, 2007, by and between DGSE      Companies, Inc. and Texas Capital Bank, N.A.  |   |   |   | × |   | 8-K    |   | May      9, 2007          |   | 3.0                              |
|          |   |                                                                                                                                     |   |   |   |   |   |   |   |                      |   |              |
| 10.11         |   | Support      Agreement, DGSE stockholders, dated as of January 6,    2007                                                           |   |   |   | × |   | 8-K    |   | January 9,      2007 |   | 99.1                             |
|          |   |                                                                                                                                     |   |   |   |   |   |   |   |                      |   |              |
| 10.12         |   | Securities      Exchange Agreement, dated as of January 6, 2007                                                                     |   |   |   | × |   | 8-K    |   | January 9,      2007 |   | 99.2                             |
|          |   |                                                                                                                                     |   |   |   |   |   |   |   |                      |   |              |
| 10.13         |   | Warrant      to DiGenova, issued January 6, 2007                                                                                    |   |   |   | × |   | 8-K    |   | January 9,      2007 |   | 99.3                             |
|          |   |                                                                                                                                     |   |   |   |   |   |   |   |                      |   |              |
| 10.14         |   | Support      Agreement, Superior stockholders, dated as of January 6,      2007                                                     |   |   |   | × |   | 8-K    |   | January 9,      2007 |   | 99.5                             |
|               |   |                                                                                                                                     |   |   |   |   |   |   |   |                      |   |                             |
|  10.15        |   | Asset      purchase agreement, dated May 9, 2007, by  and between DGSE      Companies, Inc. and Euless Gold & Silver, Inc. |   |   |   | × |   | 8-K    |   | May      9, 2007          |   | 1.0                              |
|          |   |                                                                                                                                     |   |   |   |   |   |   |   |                      |   |              |
| 10.16              |   | Subordinated      Promissory Note dated May 9, 2007                                                                                      |   |   |   | × |   | 8-K    |   | May      9, 2007          |   | 2.0                              |
|               |   |                                                                                                                                     |   |   |   |   |   |   |   |                      |   |                             |
| 10.17              |   | Registration      Rights Agreement with Stanford International Bank Ltd., dated as of May      30, 2007                                  |   |   |   | × |   | 8-K    |   | May      31, 2007    |   | 99.1                             |
|               |   |                                                                                                                                     |   |   |   |   |   |   |   |                      |   |                             |
| 10.18              |   | Corporate      Governance Agreement with Dr. L.S. Smith and Stanford International Bank      Ltd., dated as of May 30, 2007              |   |   |   | × |   | 8-K    |   | May      31, 2007    |   | 99.2                             |

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| 10.19              |   | Escrow      Agreement with American Stock Transfer & Trust Company and Stanford      International Bank Ltd., as stockholder agent, dated as of May 30,      2007                 |   |   |   | × |   | 8-K    |   | May      31, 2007 |   | 99.3                             |
|--------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|-------------------|--------|----------------------------------|
|               |   |                                                                                                                                                                                  |   |   |   |   |   |   |   |              |   |                             |
| 10.20              |   | Form      of Warrants                                                                                                                                                                 |   |   |   | × |   | 8-K    |   | May      31, 2007 |   | 99.4                             |
|               |   |                                                                                                                                                                                  |   |   |   |   |   |   |   |              |   |                             |
| 10.21              |   | Amended      and Restated Commercial Loan and Security Agreement, by and between      Superior Galleries Inc. and Stanford International Bank Ltd., dated as of      May 30, 2007     |   |   |   | × |   | 8-K    |   | May      31, 2007 |   | 99.5                             |
|               |   |                                                                                                                                                                                  |   |   |   |   |   |   |   |              |   |                             |
| 10.22              |   | Employment      Agreement with L.S. Smith, dated as of May 30, 2007                                                                                                                   |   |   |   | × |   | 8-K    |   | May      31, 2007 |   | 99.6                             |
|               |   |                                                                                                                                                                                  |   |   |   |   |   |   |   |              |   |                             |
| 10.23              |   | Employment      Agreement with William H. Oyster, dated as of May 30, 2007                                                                                                            |   |   |   | × |   | 8-K    |   | May      31, 2007 |   | 99.7                             |
|               |   |                                                                                                                                                                                  |   |   |   |   |   |   |   |              |   |                             |
| 10.24              |   | Employment      Agreement with John Benson, dated as of May 30, 2007                                                                                                                  |   |   |   | × |   | 8-K    |   | May      31, 2007 |   | 99.8                             |
|          |   |                                                                                                                                                                                  |   |   |   |   |   |   |   |              |   |              |
| 31.1          |   | Certification      pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934      implementing Section 302 of the Sarbanes-Oxley Act of 2002 by Dr.      L.S. Smith |   | × |   |   |   |   |   |              |   |              |
|          |   |                                                                                                                                                                                  |   |   |   |   |   |   |   |              |   |              |
| 31.2          |   | Certification      pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934      implementing Section 302 of the Sarbanes-Oxley Act of 2002 by John      Benson    |   | × |   |   |   |   |   |              |   |              |
|          |   |                                                                                                                                                                                  |   |   |   |   |   |   |   |              |   |              |
| 32.1          |   | Certification      pursuant to 18 U.S.C. Section 1350 as adopted pursuant to      Section 906 of the Sarbanes-Oxley Act of 2002 by Dr. L.S.      Smith                      |   | × |   |   |   |   |   |              |   |              |
|          |   |                                                                                                                                                                                  |   |   |   |   |   |   |   |              |   |              |
| 32.2          |   | Certification      pursuant to 18 U.S.C. Section 1350 as adopted pursuant to      Section 906 of the Sarbanes-Oxley Act of 2002 by John      Benson                         |   | × |   |   |   |   |   |              |   |              |

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|                        | DGSE      Companies, Inc. |                                       |
|-----------------------------|---------------------------|--------------------------------------------|
|                        |                      |                                       |   |
| Dated:      August 14, 2009 | By:                  | /s/ L. S. Smith                            |   |
|                        |                      | L.      S. Smith                           |   |
|                        |                      | Chairman      of the Board,                |   |
|                        |                      | Chief      Executive Officer and Secretary |   |

|      |                                                                 |   |   |                        |   |
|-----------|----------------------------------------------------------------------|--------|--------|-----------------------------|--------|
| By:  | /s/      L. S. Smith                                                 |   |   | Dated: August 14, 2009      |   |
|      | L.      S. Smith                                                     |   |   |                        |   |
|      | Chairman      of the Board,Chief      Executive Officer andSecretary |   |   |                        |   |
|      |                                                                 |   |   |                        |   |
|      |                                                                 |   |   |                        |   |
| By:  | /s/      W. H. Oyster                                                |   |   | Dated:      August 14, 2009 |   |
|      | W.      H. Oyster                                                    |   |   |                        |   |
|      | Director,      President andChief      Operating Officer             |   |   |                        |   |
|      |                                                                 |   |   |                        |   |
|      |                                                                 |   |   |                        |   |
| By:  | /s/      John Benson                                                 |   |   | Dated:      August 14, 2009 |   |
|      | John      Benson                                                     |   |   |                        |   |
|      | Chief      Financial Officer(Principal      Accounting Officer)      |   |   |                        |   |

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