<PAGE>   1

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                AMENDMENT NO. 1
                                       TO
                                    FORM 10-K
(MARK ONE)
[X]     ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
        ACT OF 1934

                     FOR THE FISCAL YEAR ENDED JUNE 30, 2001

                                       OR

[ ]     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934 [NO FEE REQUIRED]

                 FOR THE TRANSITION PERIOD FROM _______ TO _____
                         COMMISSION FILE NUMBER 0-27887

                            COLLECTORS UNIVERSE, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

<TABLE>
<S>                                                <C>
                 DELAWARE                                      33-0846191
      (STATE OR OTHER JURISDICTION OF              (I.R.S. EMPLOYER IDENTIFICATION NO.)
      INCORPORATION OR ORGANIZATION)

1921 E. ALTON AVENUE, SANTA ANA, CALIFORNIA                      92705
 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)                     (ZIP CODE)
</TABLE>

                                 (949) 567-1234
              (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)

SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: NONE

SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: COMMON STOCK, PAR
VALUE $.001 PER SHARE

        INDICATE, BY CHECK MARK, WHETHER THE REGISTRANT (1) HAS FILED ALL
REPORTS REQUIRED TO BE FILED BY SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 DURING THE PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE
REGISTRANT WAS REQUIRED TO FILE SUCH REPORTS); AND (2) HAS BEEN SUBJECT TO SUCH
FILING REQUIREMENTS FOR THE PAST 90 DAYS. YES [X] NO [ ]

        INDICATE, BY CHECK MARK, IF DISCLOSURE OF DELINQUENT FILERS PURSUANT TO
ITEM 405 OF REGULATION S-K IS NOT CONTAINED HEREIN, AND WILL NOT BE CONTAINED,
TO THE BEST OF REGISTRANT'S KNOWLEDGE, IN DEFINITIVE PROXY OR INFORMATION
STATEMENTS INCORPORATED BY REFERENCE IN PART III OF THIS FORM 10-K OR ANY
AMENDMENT TO THIS FORM 10-K. [ ]

        AS OF SEPTEMBER 10, 2001, THE AGGREGATE MARKET VALUE OF THE COMMON STOCK
HELD BY NON-AFFILIATES WAS APPROXIMATELY $19,365,385.

        AS OF SEPTEMBER 10, 2001, A TOTAL OF 24,995,740 SHARES OF REGISTRANT'S
COMMON STOCK WERE OUTSTANDING.

                       DOCUMENTS INCORPORATED BY REFERENCE

PART III OF THE FORM 10-K IS INCORPORATED BY REFERENCE FROM REGISTRANT'S
DEFINITIVE PROXY STATEMENT FOR ITS ANNUAL MEETING WHICH IS EXPECTED TO BE FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION ON OR BEFORE OCTOBER 30, 2001.

<PAGE>   2

                   COLLECTORS UNIVERSE, INC. AND SUBSIDIARIES
                 CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
                 (in thousands, except share and per share data)


<TABLE>
<CAPTION>
                                        COMMON STOCK        ADDITIONAL    RETAINED            TREASURY STOCK
                                   ---------------------     PAID-IN      EARNINGS      ----------------------------
                                    SHARES       AMOUNT      CAPITAL      (DEFICIT)       SHARES          AMOUNT         TOTAL
                                   --------     --------     --------    -----------    ----------    --------------    --------
<S>                                <C>          <C>         <C>          <C>            <C>           <C>               <C>
Balance at June 30, 1998             20,667     $     20     $     70    $     2,077         4,535    $         (605)   $  1,562

Dividends to stockholders                                                     (2,610)                                     (2,610)
Undistributed earnings of
   S Corporation                                                  316           (316)                                         --
Sale of treasury stock                                                                        (318)              116         116
Cancellation of treasury
   stock                             (3,356)          (3)           3           (489)       (3,356)              489          --
Issuance of shares in
   acquisition                        1,689            2        3,563                         (861)                        3,565
Issuance of common stock in
   private placement                  1,282            1        6,390                                                      6,391
Compensation expense related to
   stock options granted                                        1,244                                                      1,244
Net loss                                                                        (170)                                       (170)
                                   --------     --------     --------    -----------    ----------    --------------    --------
Balance at June 30, 1999             20,282           20       11,586         (1,508)           --                --      10,098

Issuance of common stock in
   public offering                    4,000            4       21,351                                                     21,355
Issuance of shares in
   acquisition                        1,000            1        7,624                                                      7,625
Exercise of stock options               147                       323                                                        323
Tax benefit of stock option
   exercise                                                       111                                                        111
Compensation expense related to
   stock options granted                                           61                                                         61
Net income                                                                     1,542                                       1,542
                                   --------     --------     --------    -----------    ----------    --------------    --------
Balance at June 30, 2000             25,429           25       41,056             34            --                --      41,115

Repurchase of common stock                                                                    (500)           (1,021)     (1,021)
Employee stock purchase plan             41            1           53                                                         54
Compensation expense related
   to stock options granted                                        51                                                         51
Net loss                                                                        (649)                                       (649)
                                   --------     --------     --------    -----------    ----------    --------------    --------
Balance at June 30, 2001             25,470     $     26     $ 41,160    $      (615)         (500)   $       (1,021)   $ 39,550
                                   ========     ========     ========    ===========    ==========    ==============    ========
</TABLE>

The accompanying notes are in integral part of these consolidated financial
statements.



                                       35
<PAGE>   3

                                   SIGNATURES

        Pursuant to the requirements of Section 13 or 15(d) of the Securities
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.

                                            COLLECTORS UNIVERSE, INC.

Date: September 25, 2001                    By: /s/ GARY N. PATTEN
                                               ------------------------------
                                            Gary N. Patten, Chief Financial
                                            Officer, Chief Accounting Officer
                                            and Secretary

                                POWER OF ATTORNEY

        KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature
appears below constitutes and appoints David G. Hall and Gary N. Patten, jointly
and severally, his or her respective attorneys-in-fact, each with the power of
substitution, for each other in any and all capacities, to sign any amendments
to this Report on Form 10-K, and to file the same, with exhibits thereto and
other documents in connection therewith, with the Securities and Exchange
Commission, hereby ratifying and confirming all that each of said
attorneys-in-fact, or his or her respective substitute or substitutes, may do or
cause to be done by virtue hereof.

        Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed by the following persons on behalf of the Registrant
and in the capacities and on the dates indicated.


<TABLE>
<CAPTION>

SIGNATURE                     TITLE                                  DATE
----------------------------  -----------------------------------    ------------------
<S>                           <C>                                    <C>
/s/ DAVID HALL                Chairman, Chief Executive Officer      September 25, 2001
---------------------------
    David G. Hall

/s/ GARY N. PATTEN            President, Chief Financial Officer,    September 25, 2001
---------------------------   Chief Accounting Officer and
    Gary N. Patten            Secretary


/s/ Q. DAVID BOWERS           Executive Vice President and Director  September 25, 2001
---------------------------
    Q. David Bowers

/s/ ROGER W. JOHNSON          Director                               September 25, 2001
---------------------------
    Roger W. Johnson

/s/ BEN A. FRYDMAN            Director                               September 25, 2001
---------------------------
    Ben A. Frydman

/s/ VAN D. SIMMONS            Director                               September 25, 2001
---------------------------
    Van D. Simmons

/s/ JAMES H. O'NEAL           Director                               September 25, 2001
---------------------------
    James H. O'Neal

/s/ A. CLINTON ALLEN          Director                               September 25, 2001
---------------------------
    A. Clinton Allen
</TABLE>



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