| (Mark One)                                                                                  |                                                                                                       |
|---------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------|
| ý                                                                                      | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934                    |
|                                                                                        | For the quarter ended September 30, 2010                                                                   |
|                                                                                        |                                                                                                       |
|                                                                                        | OR                                                                                                         |
|                                                                                        |                                                                                                       |
| q                                                                                           | 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 1-34240                                                              |
|                                                                                        |
|   COLLECTORS UNIVERSE, INC.(Exact name of Registrant as specified in its charter) |

| 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 and zip code)                             |
|                                                                              |
| Registrant's telephone number, including area code: (949) 567-1234                |
|                                                                              |
| Not Applicable                                                                    |
| (Former name, former address and former fiscal year, if changed, since last year) |

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

|   | Class                        |   | Outstanding as of October 31, 2010 |
|--------|------------------------------|--------|------------------------------------|
|   | Common Stock $.001 Par Value |   | 7,850,000                          |
|   |                         |   |                               |

----

| PART I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | Financial Information                                                                         | Page                                                                                                   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Item 1.                                                                                       | Financial Statements (unaudited):                                                                      |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          | Condensed Consolidated Balance Sheets as of September 30, 2010 and June 30, 2010                       | 1 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          | Condensed Consolidated Statements of Operations for the Three Months Ended September 30, 2010 and 2009 | 2 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          | Condensed Consolidated Statements of Cash Flows for the Three Months Ended September 30, 2010 and 2009 | 3 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          | Notes to Condensed Consolidated Financial Statements                                                   | 4 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Item 2.                                                                                       | Management's Discussion and Analysis of Financial Condition and Results of Operations                  | 15 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          | Forward-Looking Information                                                                            | 15 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          | Our Business                                                                                           | 15 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          | Factors That Can Affect Our Financial Position and Operating Results                                   | 16 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          | Critical Accounting Policies and Estimates                                                             | 17 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          | Results of Operations for the Three Months Ended September 30, 2010 and 2009                           | 19 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          | Liquidity and Capital Resources                                                                        | 23 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          | Recent Accounting Pronouncements                                                                       | 25 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Item 4T.                                                                                      | Controls and Procedures                                                                                | 25 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |   |
| PART II                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Other Information                                                                             |                                                                                                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Item 1A.                                                                                      | Risk Factors                                                                                           | 26 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Item 6.                                                                                       | Exhibits                                                                                               | 26 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |
| SIGNATURES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                          | S-1                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |
| INDEX TO EXHIBITS                                                                                                                                                    | E-1                                                                                           |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |
| EXHIBITS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                                          |                                                                                                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |
| Exhibit 31.1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Certifications of Chief Executive Officer Under Section 302 of the Sarbanes-Oxley Act of 2002 |                                                                                                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |
| Exhibit 31.2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Certifications of Chief Financial Officer Under Section 302 of the Sarbanes-Oxley Act of 2002 |                                                                                                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |
| Exhibit 32.1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Chief Executive Officer Certification Under Section 906 of the Sarbanes-Oxley Act of 2002     |                                                                                                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |
| Exhibit 32.2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Chief Financial Officer Certification Under Section 906 of the Sarbanes-Oxley Act of 2002     |                                                                                                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                                                          |                                                                                                   |

----

ITEM 1

CONDENSED CONSOLIDATED BALANCE SHEETS

|                                                                                                                                                                      |   | September 30, |     |   | June 30, |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|----------|--------|----------|--------|
| ASSETS                                                                                                                                                                    |   | 2010          |     |   | 2010     |   |
| Current assets:                                                                                                                                                           |   |          |     |   |     |   |
| Cash and cash equivalents                                                                                                                                                 |   | $             | 19,333   |   |     | $      | 20,321 |   |
| Accounts receivable, net of allowance of $76 at September 30, 2010 and $75 at June 30, 2010                                                                               |   |          | 1,247    |   |     |   | 1,246 |   |
| Inventories, net                                                                                                                                                          |   |          | 1,131    |   |     |   | 708 |   |
| Prepaid expenses and other current assets                                                                                                                                 |   |          | 785      |   |     |   | 919 |   |
| Refundable income taxes                                                                                                                                                   |   |          | 65       |   |     |   | 335 |   |
| Deferred income tax asset                                                                                                                                                 |   |          | 3,630    |   |     |   | 4,365 |   |
| Notes receivable from sale of net assets of discontinued operations                                                                                                       |   |          | 73       |   |     |   | 96 |   |
| Current assets of discontinued operations                                                                                                                                 |   |          | 33       |   |     |   | 52 |   |
| Total current assets                                                                                                                                                      |   |          | 26,297   |   |     |   | 28,042 |   |
|                                                                                                                                                                      |   |          |     |   |     |   |   |   |
| Property and equipment, net                                                                                                                                               |   |          | 1,129    |   |     |   | 1,145 |   |
| Goodwill                                                                                                                                                                  |   |          | 2,826    |   |     |   | 2,826 |   |
| Intangible assets, net                                                                                                                                                    |   |          | 2,071    |   |     |   | 2,184 |   |
| Deferred income tax asset                                                                                                                                                 |   |          | 3,807    |   |     |   | 3,807 |   |
| Notes receivable from sale of net assets of discontinued operations                                                                                                       |   |          | 174      |   |     |   | 170 |   |
| Other assets                                                                                                                                                              |   |          | 257      |   |     |   | 330 |   |
| Non-current assets of discontinued operations                                                                                                                             |   |          | 182      |   |     |   | 182 |   |
|                                                                                                                                                                      |   | $             | 36,743   |   |     | $      | 38,686 |   |
| LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                                                                |   |          |     |   |     |   |   |   |
| Current liabilities:                                                                                                                                                      |   |          |     |   |     |   |   |   |
| Accounts payable                                                                                                                                                          |   | $             | 1,218    |   |     | $      | 1,434 |   |
| Accrued liabilities                                                                                                                                                       |   |          | 1,456    |   |     |   | 1,495 |   |
| Accrued compensation and benefits                                                                                                                                         |   |          | 1,123    |   |     |   | 1,804 |   |
| Income taxes payable                                                                                                                                                      |   |          | 193      |   |     |   | 197 |   |
| Deferred revenue                                                                                                                                                          |   |          | 1,982    |   |     |   | 1,926 |   |
| Current liabilities of discontinued operations                                                                                                                            |   |          | 873      |   |     |   | 923 |   |
| Total current liabilities                                                                                                                                                 |   |          | 6,845    |   |     |   | 7,779 |   |
|                                                                                                                                                                      |   |          |     |   |     |   |   |   |
| Deferred rent                                                                                                                                                             |   |          | 343      |   |     |   | 321 |   |
| Non-current liabilities of discontinued operations                                                                                                                        |   |          | 2,889    |   |     |   | 2,974 |   |
| Commitments and contingencies                                                                                                                                             |   |          |     |   |     |   |   |   |
|                                                                                                                                                                      |   |          |     |   |     |   |   |   |
| Stockholders’ equity:                                                                                                                                               |   |          |     |   |     |   |   |   |
| Preferred stock, $.001 par value; 3,000 shares authorized, none issued or outstanding                                                                                     |   |          | -        |   |     |   | - |   |
| Common stock, $.001 par value; 20,000 shares authorized; 7,805 and 7,693 issued and outstanding at September 30, 2010   and at June 30, 2010, respectively |   |          |   8 |   |     |   |   8 |   |
| Additional paid-in capital                                                                                                                                                |   |          | 68,427   |   |     |   | 68,134 |   |
| Accumulated deficit                                                                                                                                                       |   |          | (41,769  | )      |     |   | (40,530 | ) |
| Total stockholders’ equity                                                                                                                                          |   |          | 26,666   |   |     |   | 27,612 |   |
|                                                                                                                                                                      |   | $             | 36,743   |   |     | $      | 38,686 |   |

----

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

|                                                                                                    |   | Three Months Ended |   |
|---------------------------------------------------------------------------------------------------------|--------|--------------------|--------|
|                                                                                                    |   | September 30,      |   |
|                                                                                                    |   | 2010               |   |   | 2009 |   |
| Net revenues                                                                                            |   | $                  | 9,755  |   |   | $ | 9,298 |   |
| Cost of revenues                                                                                        |   |               | 3,774  |   |   |   | 3,739 |   |
| Gross profit                                                                                            |   |               | 5,981  |   |   |   | 5,559 |   |
| Operating Expenses:                                                                                     |   |               |   |   |   |   |   |   |
| Selling and marketing expenses                                                                          |   |               | 1,524  |   |   |   | 1,195 |   |
| General and administrative expenses                                                                     |   |               | 2,618  |   |   |   | 2,568 |   |
| Total operating expenses                                                                                |   |               | 4,142  |   |   |   | 3,763 |   |
| Operating income                                                                                        |   |               | 1,839  |   |   |   | 1,796 |   |
| Interest and other income, net                                                                          |   |               | 24     |   |   |   | 40 |   |
| Income before provision for income taxes                                                                |   |               | 1,863  |   |   |   | 1,836 |   |
| Provision for income taxes                                                                              |   |               | 745    |   |   |   | 127 |   |
| Income from continuing operations                                                                       |   |               | 1,118  |   |   |   | 1,709 |   |
| Loss from discontinued operations, net of loss on sales of discontinued businesses, net of income taxes |   |               | (13    | ) |   |   | (53 | ) |
| Net income                                                                                              |   | $                  | 1,105  |   |   | $ | 1,656 |   |
|                                                                                                    |   |               |   |   |   |   |   |   |
| Net income (loss) per basic share:                                                                      |   |               |   |   |   |   |   |   |
| Income from continuing operations                                                                       |   | $                  | 0.15   |   |   | $ | 0.23 |   |
| Loss from discontinued operations                                                                       |   |               | -      |   |   |   | (0.01 | ) |
| Net income                                                                                              |   | $                  | 0.15   |   |   | $ | 0.22 |   |
|                                                                                                    |   |               |   |   |   |   |   |   |
| Net income (loss) per diluted share:                                                                    |   |               |   |   |   |   |   |   |
| Income from continuing operations                                                                       |   | $                  | 0.14   |   |   | $ | 0.22 |   |
| Loss from discontinued operations                                                                       |   |               | -      |   |   |   | - |   |
| Net income                                                                                              |   | $                  | 0.14   |   |   | $ | 0.22 |   |
|                                                                                                    |   |               |   |   |   |   |   |   |
| Weighted average shares outstanding:                                                                    |   |               |   |   |   |   |   |   |
| Basic                                                                                                   |   |               | 7,502  |   |   |   | 7,551 |   |
| Diluted                                                                                                 |   |               | 7,725  |   |   |   | 7,629 |   |
| Dividends declared per common share                                                                     |   | $                  | 0.30   |   |   | $ | - |   |

----

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

|                                                                                                     |   | Three Months EndedSeptember 30, |   |
|----------------------------------------------------------------------------------------------------------|--------|---------------------------------|--------|
|                                                                                                     |   | 2010                            |   |   | 2009 |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                                                    |   |                            |   |   |   |   |
| Net income                                                                                               |   | $                               | 1,105  |   |   | $ | 1,656 |   |
| Discontinued operations                                                                                  |   |                            | 13     |   |   |   | 53 |   |
| Income from continuing operations                                                                        |   |                            | 1,118  |   |   |   | 1,709 |   |
| Adjustments to reconcile income from continuing operations to net cash provided by operating activities: |   |                            |   |   |   |   |   |   |
| Depreciation and amortization expense                                                                    |   |                            | 205    |   |   |   | 293 |   |
| Stock-based compensation expense                                                                         |   |                            | 195    |   |   |   | 165 |   |
| Provision for bad debts                                                                                  |   |                            | 1      |   |   |   | 13 |   |
| Provision for inventory write-down                                                                       |   |                            | -      |   |   |   | 3 |   |
| Provision for warranty                                                                                   |   |                            | 167    |   |   |   | 166 |   |
| Loss on sale of property and equipment                                                                   |   |                            | 6      |   |   |   | - |   |
| Provision for deferred income taxes                                                                      |   |                            | 736    |   |   |   | - |   |
| Interest on notes receivable                                                                             |   |                            | -      |   |   |   | 5 |   |
| Change in operating assets and liabilities:                                                              |   |                            |   |   |   |   |   |   |
| Accounts receivable                                                                                      |   |                            | (2     | ) |   |   | (140 | ) |
| Inventories                                                                                              |   |                            | (423   | ) |   |   | (70 | ) |
| Prepaid expenses and other                                                                               |   |                            | 184    |   |   |   | 167 |   |
| Refundable income taxes                                                                                  |   |                            | 270    |   |   |   | - |   |
| Other assets                                                                                             |   |                            | (2     | ) |   |   | (9 | ) |
| Accounts payable and accrued liabilities                                                                 |   |                            | (563   | ) |   |   | 63 |   |
| Accrued compensation and benefits                                                                        |   |                            | (680   | ) |   |   | (231 | ) |
| Income taxes payable                                                                                     |   |                            | (4     | ) |   |   | 72 |   |
| Deferred revenue                                                                                         |   |                            | 56     |   |   |   | (295 | ) |
| Deferred rent                                                                                            |   |                            | 21     |   |   |   | 28 |   |
| Net cash provided by operating activities of continuing operations                                       |   |                            | 1,285  |   |   |   | 1,939 |   |
| Net cash used in operating activities of discontinued businesses                                         |   |                            | (128   | ) |   |   | (396 | ) |
| Net cash provided by operating activities                                                                |   |                            | 1,157  |   |   |   | 1,543 |   |
|                                                                                                     |   |                            |   |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                                                    |   |                            |   |   |   |   |   |   |
| Proceeds from the sale of property and equipment                                                         |   |                            | 22     |   |   |   | - |   |
| Capital expenditures                                                                                     |   |                            | (46    | ) |   |   | (173 | ) |
| Capitalized software                                                                                     |   |                            | (9     | ) |   |   | -  |   |
| Cash received from sale of net assets of discontinued operations                                         |   |                            | 23     |   |   |   | 23 |   |
| Proceeds from collection of customer notes receivable                                                    |   |                            | -      |   |   |   | 20 |   |
| Net cash used in investing activities                                                                    |   |                            | (10    | ) |   |   | (130 | ) |
|                                                                                                     |   |                            |   |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                                                    |   |                            |   |   |   |   |   |   |
| Proceeds from exercise of stock options                                                                  |   |                            | 98     |   |   |   | - |   |
| Dividends paid to common stockholders                                                                    |   |                            | (2,233 | ) |   |   | - |   |
| Repurchase of common stock under “Dutch Auction” tender                                      |   |                            | -      |   |   |   | (8,911 | ) |
| Net cash used in financing activities                                                                    |   |                            | (2,135 | ) |   |   | (8,911 | ) |
|                                                                                                     |   |                            |   |   |   |   |   |   |
| Net decrease in cash and cash equivalents                                                                |   |                            | (988   | ) |   |   | (7,498 | ) |
| Cash and cash equivalents at beginning of period                                                         |   |                            | 20,321 |   |   |   | 23,870 |   |
| Cash and cash equivalents at end of period                                                               |   | $                               | 19,333 |   |   | $ | 16,372 |   |
|                                                                                                     |   |                            |   |   |   |   |   |   |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:                                                       |   |                            |   |   |   |   |   |   |
| Interest paid during the period                                                                          |   | $                               | -      |   |   | $ | 5 |   |
| Income taxes paid during the period                                                                      |   | $                               | 5      |   |   | $ | 54 |   |

----

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

----

----

|                                |   | Three Months EndedSeptember 30, |   |
|-------------------------------------|--------|---------------------------------|--------|
|                                |   | 2010                            |   |   | 2009 |   |
| Included in:                        |   |                            |   |   |   |   |
| General and administrative expenses |   | $                               | 195    |   |   | $ | 165 |   |
| Continuing operations               |   | $                               | 195    |   |   | $ | 165 |   |

|                                            |   |    Shares |   |   | Weighted Average Exercise Price |   |   | Weighted Average Remaining Contractual Term |   |   |  AggregateIntrinsicValue |   |
|-------------------------------------------------|--------|--------------------------|--------|--------|---------------------------------|--------|--------|---------------------------------------------|--------|--------|-------------------------------|--------|
| Options:                                        |   | (In Thousands)           |   |   |                            |   |   | (yrs.)                                      |   |   | (In Thousands)                |   |
| Outstanding at June 30, 2010                    |   |                     | 434    |   |                            | $      | 10.72  |                                        |   |   | 3.67                          |   |   | $ | 1,535 |   |
| Forfeited or cancelled                          |   |                     | (23    | )      |                            |   | 12.39  |                                        |   |   | -                             |   |   |   | - |   |
| Exercised                                       |   |                     | (32    | )      |                            |   | 3.08   |                                        |   |   | -                             |   |   |   | - |   |
| Outstanding at September 30, 2010               |   |                     | 379    |   |                            | $      | 11.26  |                                        |   |   | 3.52                          |   |   | $ | 1,177 |   |
| Exercisable at September 30, 2010               |   |                     | 374    |   |                            | $      | 11.23  |                                        |   |   | 3.47                          |   |   | $ | 1,176 |   |
| Unvested at September 30, 2010                  |   |                     | 6      |   |                            | $      | 13.18  |                                        |   |   | 7.17                          |   |   | $ | 1 |   |
| Unvested expected to vest at September 30, 2010 |   |                     | 6      |   |                            | $      | 13.18  |                                        |   |   | 7.17                          |   |   | $ | 1 |   |

----

|    Non-Vested Shares: |   |  Shares(In Thousands) |   |   | WeightedAverageGrant-DateFair Values |   |
|--------------------------------------|--------|----------------------------|--------|--------|--------------------------------------|--------|
| Non-vested at June 30, 2010          |   |                       | 254    |   |                                 | $      | 4.43 |   |
| Granted                              |   |                       | 80     |   |                                 |   | 12.46 |   |
| Vested                               |   |                       | (119   | )      |                                 |   | 4.32 |   |
| Non-vested at September 30, 2010     |   |                       | 215    |   |                                 | $      | 7.48 |   |

|  Fiscal Year Ending June 30, |   | Amount(In Thousands) |   |
|-----------------------------------|--------|----------------------|--------|
| 2011 (remaining 9 months)         |   | $                    | 782    |   |
| 2012                              |   |                 | 449    |   |
| 2013                              |   |                 | 42     |   |
|                              |   | $                    | 1,273  |   |

----

----

| 2.             | FAIR VALUE MEASUREMENTS |
|----------------------------------------------------------------------------|-------------------------|

|                                                   |   | AtSeptember 30, |   |   | Fair Value Measurements Using |   |
|--------------------------------------------------------|--------|-----------------|--------|--------|-------------------------------|--------|
|                                                   |   | 2010            |   |   | (Level 1)                     |   |   | (Level 2) |   |   | (Level 3) |   |
| Liabilities:                                           |   |            |   |   |                          |   |   |   |   |   |   |   |
|     Operating facility obligations |   | $               | 3,383  |   |                          | $      | - |   |   | $ | - |   |   | $ | 3,383 |   |

----

|                           |   | At June 30, |   |   | Fair Value Measurements Using |   |
|--------------------------------|--------|-------------|--------|--------|-------------------------------|--------|
|                           |   | 2010        |   |   | (Level 1)                     |   |   | (Level 2) |   |   | (Level 3) |   |
| Liabilities:                   |   |        |   |   |                          |   |   |   |   |   |   |   |
| Operating facility obligations |   | $           | 3,470  |   |                          | $      | - |   |   | $ | - |   |   | $ | 3,470 |   |

|                           |   | Beginning    |   |   |              |   |   |                  |   |   | Ending            |   |
|--------------------------------|--------|--------------|--------|--------|-------------------|--------|--------|-----------------------|--------|--------|-------------------|--------|
|                           |   | Balance      |   |   |              |   |   | Gain (1)              |   |   | Balance           |   |
|                           |   | June 30,2010 |   |   | PrincipalPaydowns |   |   | Included inNet Income |   |   | September 30,2010 |   |
| Liabilities:                   |   |         |   |   |              |   |   |                  |   |   |              |   |
| Operating facility obligations |   | $            | 3,470  |   |              | $      | (85    | )                     |   | $      | (2                | )      |   | $ | 3,383 |   |

----

| (1)   | Before accretion expense of $43,000 for the three months ended September 30, 2010. |
|-----------------|------------------------------------------------------------------------------------|

| Inventories consist of the following (in thousands):                                                                                                                                                                                                                                                                                                                                                                   |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                   |   | September 30, |   |   | June 30, |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 2010 |   |   | 2010 |   |
| Coins                                                                                  |   | $ | 702 |   |   | $ | 493 |   |
| Other collectibles                                                                     |   |   | 52 |   |   |   | 32 |   |
| Grading raw materials consumable inventory                                                                                                                                                                                                                                                                                                                                                                             |   |   | 514 |   |   |   | 327 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   | 1,268 |   |   |   | 852 |   |
| Less inventory reserve                                                                 |   |   | (137 | ) |   |   | (144 | ) |
| Inventories, net                                                                                                                                                                                                                                                                                                                                                                                                       |   | $ | 1,131 |   |   | $ | 708 |   |

| 4.          | PROPERTY AND EQUIPMENT |
|-----------------------------------------------------|------------------------|

| Property and equipment consist of the following (in thousands):                                                                                                                                                                                                                                                                                                                             |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                        |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                        |   | September 30, |   |   | June 30, |   |
|                                                                                                                                                                                                                                                                                                                                                                                        |   | 2010 |   |   | 2010 |   |
| Coins and stamp grading reference sets                                                                                                                                                                                                                                                                                                                                                      |   | $ | 435 |   |   | $ | 461 |   |
| Computer hardware and equipment                                                           |   |   | 1,431 |   |   |   | 1,419 |   |
| Computer software                                                                         |   |   | 999 |   |   |   | 999 |   |
| Equipment                                                                                 |   |   | 2,147 |   |   |   | 2,090 |   |
| Furniture and office equipment                                                            |   |   | 900 |   |   |   | 907 |   |
| Leasehold improvements                                                                    |   |   | 702 |   |   |   | 695 |   |
| Trading card reference library                                                            |   |   | 52 |   |   |   | 52 |   |
|                                                                                                                                                                                                                                                                                                                                                                                        |   |   | 6,666 |   |   |   | 6,623 |   |
| Less accumulated depreciation and amortization                                                                                                                                                                                                                                                                                                                                              |   |   | (5,537 | ) |   |   | (5,478 | ) |
| Property and equipment, net                                                                                                                                                                                                                                                                                                                                                                 |   | $ | 1,129 |   |   | $ | 1,145 |   |

----

| Accrued liabilities consist of the following (in thousands):                                                                                                                                                                                                                                                                                                                                                      |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                              |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                              |   | September 30, |   |   | June 30, |   |
|                                                                                                                                                                                                                                                                                                                                                                                                              |   | 2010 |   |   | 2010 |   |
| Warranty reserves                                                                 |   | $ | 672 |   |   | $ | 669 |   |
| Professional fees                                                                 |   |   | 74 |   |   |   | 82 |   |
| Other                                                                             |   |   | 710 |   |   |   | 744 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                              |   | $ | 1,456 |   |   | $ | 1,495 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | Three Months EndedSeptember 30, |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | 2010                            |   |   | 2009 |   |
| Warranty reserve beginning of period                                                                 |   | $                               | 669    |   |   | $ | 708 |   |
| Charged to cost of revenue                                                                           |   |                            | 167    |   |   |   | 166 |   |
| Payments                                                                                             |   |                            | (164   | ) |   |   | (114 | ) |
| Warranty reserve, end of period                                                                      |   | $                               | 672    |   |   | $ | 760 |   |

| 6.             | DISCONTINUED OPERATIONS |
|------------------------------------------------------------------|-------------------------|

|                                                                                                                                                                                                                                                                                                                                                                                                                  |   | Three Months EndedSeptember 30, |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 2010                            |   |   | 2009 |   |
| Net revenues                                                                                    |   | $                               | 5      |   |   | $ | 3 |   |
| Loss from operations of discontinued businesses                                                                                                                                                                                                                                                                                                                                                                       |   | $                               | (2     | ) |   | $ | - |   |
| Loss on sale of discontinued businesses                                                                                                                                                                                                                                                                                                                                                                               |   |                            | (20    | ) |   |   | (53 | ) |
| Loss from discontinued operations before income tax benefit                                                                                                                                                                                                                                                                                                                                                           |   |                            | (22    | ) |   |   | (53 | ) |
| Income tax benefit                                                                              |   |                            | 9      |   |   |   | - |   |
| Loss from discontinued operations                                                               |   | $                               | (13    | ) |   | $ | (53 | ) |

----

|                        |   | September 30, |   |   | June 30, |   |
|-----------------------------|--------|---------------|--------|--------|----------|--------|
|                        |   | 2010          |   |   | 2010     |   |
| Current Assets:             |   |          |   |   |     |   |
| Accounts receivable, net    |   | $             | 6      |   |     | $      | 25 |   |
| Assets held for sale        |   |          | 27     |   |     |   | 27 |   |
|                        |   | $             | 33     |   |     | $      | 52 |   |
| Non-Current Assets:         |   |          |   |   |     |   |   |   |
| Other assets                |   | $             | 182    |   |     | $      | 182 |   |
|                        |   |          |   |   |     |   |   |   |
| Current Liabilities:        |   |          |   |   |     |   |   |   |
| Accounts payable            |   | $             | 13     |   |     | $      | 27 |   |
| Facility obligations        |   |          | 530    |   |     |   | 532 |   |
| Other accrued expenses      |   |          | 306    |   |     |   | 342 |   |
| Deferred revenue            |   |          | 24     |   |     |   | 22 |   |
|                        |   | $             | 873    |   |     | $      | 923 |   |
|                        |   |          |   |   |     |   |   |   |
| Non-Current Liabilities:    |   |          |   |   |     |   |   |   |
| Facility obligations        |   | $             | 2,853  |   |     | $      | 2,938 |   |
| Other long-term liabilities |   |          | 36     |   |     |   | 36 |   |
|                        |   | $             | 2,889  |   |     | $      | 2,974 |   |

| 7.             | INCOME TAXES |
|----------------------------------------------------------------------------|--------------|

----

----

|                                       |   | Three Months Ended September 30, |   |
|--------------------------------------------|--------|----------------------------------|--------|
|                                       |   | 2010                             |   |   | 2009 |   |
| Net revenues from external customers:      |   |                             |   |   |   |   |
| Coins                                      |   | $                                | 6,044  |   |   | $ | 5,557 |   |
| Trading cards and autographs               |   |                             | 2,592  |   |   |   | 2,566 |   |
| Other                                      |   |                             | 1,119  |   |   |   | 1,175 |   |
| Total revenue                              |   | $                                | 9,755  |   |   | $ | 9,298 |   |
| Amortization and depreciation:             |   |                             |   |   |   |   |   |   |
| Coins                                      |   | $                                | 52     |   |   | $ | 72 |   |
| Trading cards and autographs               |   |                             | 52     |   |   |   | 51 |   |
| Other                                      |   |                             | 72     |   |   |   | 101 |   |
| Total                                      |   |                             | 176    |   |   |   | 224 |   |
| Unallocated amortization and depreciation  |   |                             | 29     |   |   |   | 69 |   |
| Consolidated amortization and depreciation |   | $                                | 205    |   |   | $ | 293 |   |
| Stock-based compensation:                  |   |                             |   |   |   |   |   |   |
| Coins                                      |   | $                                | 16     |   |   | $ | - |   |
| Trading cards and autographs               |   |                             | 3      |   |   |   | - |   |
| Other                                      |   |                             | 5      |   |   |   | - |   |
| Total                                      |   |                             | 24     |   |   |   | - |   |
| Unallocated stock-based compensation       |   |                             | 171    |   |   |   | 165 |   |
| Consolidated stock-based compensation      |   | $                                | 195    |   |   | $ | 165 |   |
| Operating income:                          |   |                             |   |   |   |   |   |   |
| Coins                                      |   | $                                | 2,064  |   |   | $ | 2,188 |   |
| Trading cards and autographs               |   |                             | 345    |   |   |   | 379 |   |
| Other                                      |   |                             | 365    |   |   |   | 202 |   |
| Total                                      |   |                             | 2,774  |   |   |   | 2,769 |   |
| Unallocated operating expenses             |   |                             | (935   | ) |   |   | (973 | ) |
| Consolidated Operating Income              |   | $                                | 1,839  |   |   | $ | 1,796 |   |

|                                                                                                                                                                                                                                        |   | At September 30, |   |   | At June 30, |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|--------|--------|-------------|--------|
|                                                                                                                                                                                                                                        |   | 2010             |   |   | 2010        |   |
| Identifiable Assets:                                                                                                                                                                                                                        |   |             |   |   |        |   |
| Coins                                                   |   | $                | 3,614  |   |        | $      | 3,509 |   |
| Trading cards and autographs                                                                                                                                                                                                                |   |             | 851    |   |        |   | 810 |   |
| Other                                                   |   |             | 4,355  |   |        |   | 4,460 |   |
| Total                                                   |   |             | 8,820  |   |        |   | 8,779 |   |
| Unallocated assets                                      |   |             | 27,923 |   |        |   | 29,907 |   |
| Consolidated assets                                     |   | $                | 36,743 |   |        | $      | 38,686 |   |
| Goodwill:                                                                                                                                                                                                                                   |   |             |   |   |        |   |   |   |
| Coins                                                   |   | $                | 515    |   |        | $      | 515 |   |
| Other                                                   |   |             | 2,311  |   |        |   | 2,311 |   |
| Consolidated goodwill                                                                                                                                                                                                                       |   | $                | 2,826  |   |        | $      | 2,826 |   |

----

| 10.           | SUBSEQUENT EVENTS |
|-----------------------------------------------------------------|-------------------|

| ITEM 2. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS |
|---------|---------------------------------------------------------------------------------------------|

Forward-Looking Statements

Our Business

----

Factors That Can Affect our Financial Position and Operating Results

|                             |   | Units ProcessedThree Months Ended September 30, |    |   | Declared Value (000s)Three Months Ended September 30, |   |
|----------------------------------|--------|-------------------------------------------------|---------|--------|-------------------------------------------------------|--------|
|                             |   | 2010                                            |    |   | 2009                                                  |   |   | 2010 |   |   | 2009 |   |
| Coins                            |   |                                            | 447,900 |   |                                                  |   | 56.2 | % |   |   | 358,700 |   |   |   | 51.4 | % |   | $ | 328,977 |   |   |   | 91.6 | % |   | $ | 276,307 |   |   |   | 90.9 | % |
| Trading cards and Autographs (1) |   |                                            | 344,500 |   |                                                  |   | 43.3 | % |   |   | 334,100 |   |   |   | 47.9 | % |   |   | 27,594 |   |   |   | 7.7 | % |   |   | 23,943 |   |   |   | 7.9 | % |
| Stamps                           |   |                                            | 3,900   |   |                                                  |   | 0.5 | % |   |   | 5,400 |   |   |   | 0.7 | % |   |   | 2,567 |   |   |   | 0.7 | % |   |   | 3,717 |   |   |   | 1.2 | % |
| Total                            |   |                                            | 796,300 |   |                                                  |   | 100.0 | % |   |   | 698,200 |   |   |   | 100.0 | % |   | $ | 359,138 |   |   |   | 100.0 | % |   | $ | 303,967 |   |   |   | 100.0 | % |

----

| (1)      | Consists of trading cards graded by our PSA trading card authentication and grading business and autographs certified by our PSA/DNA autograph authentication and grading business. |
|------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Critical Accounting Policies and Estimates

----

----

Results of Operations for the Three months Ended September 30, 2010 and 2009

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Three Months Ended September 30, |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | 2010                             |   |   | 2009 |   |
| Net revenues                                                                                                                                                                   |   |                             | 100.0  | % |   |   | 100.0 | % |
| Cost of revenues                                                                                                                                                               |   |                             | 38.7   | % |   |   | 40.2 | % |
| Gross profit                                                                                                                                                                   |   |                             | 61.3   | % |   |   | 59.8 | % |
| Operating expenses:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                             |   |   |   |   |   |   |
| Selling and marketing expenses                                                                                                                                                                |   |                             | 15.6   | % |   |   | 12.9 | % |
| General and administrative expenses                                                                                                                                                           |   |                             | 26.8   | % |   |   | 27.6 | % |
| Total operating expenses                                                                                                                                                                      |   |                             | 42.4   | % |   |   | 40.5 | % |
| Operating income                                                                                                                                                               |   |                             | 18.9   | % |   |   | 19.3 | % |
| Interest and other income, net                                                                                                                                                 |   |                             | 0.2    | % |   |   | 0.4 | % |
| Income before provision for income taxes                                                                                                                                       |   |                             | 19.1   | % |   |   | 19.7 | % |
| Provision for income taxes                                                                                                                                                     |   |                             | (7.6   | )% |   |   | (1.3 | )% |
| Income from continuing operations                                                                                                                                              |   |                             | 11.5   | % |   |   | 18.4 | % |
| Loss from discontinued operations, net of gain on salesof discontinued businesses, net of income taxes                                                                                        |   |                             | (0.2   | )% |   |   | (0.6 | )% |
| Net income                                                                                                                                                                     |   |                             | 11.3   | % |   |   | 17.8 | % |

|                            |   | Three Months Ended September 30, |   |
|---------------------------------|--------|----------------------------------|--------|
|                            |   | 2010                             |   |   | 2009 |   |   | Increase (Decrease) |   |
|                            |   | Amount                           |   |   | % of NetRevenues |   |   | Amount |   |   | % of NetRevenues |   |   | Amount |   |   | % of NetRevenues |   |
| Grading and authentication fees |   | $                                | 7,772  |   |   |   | 79.7 | % |   | $ | 7,481 |   |   |   | 80.5 | % |   | $ | 291 |   |   |   | 3.9 | % |
| Other related services          |   |                             | 1,983  |   |   |   | 20.3 | % |   |   | 1,817 |   |   |   | 19.5 | % |   |   | 166 |   |   |   | 9.1 | % |
| Total net revenues              |   | $                                | 9,755  |   |   |   | 100.0 | % |   | $ | 9,298 |   |   |   | 100.0 | % |   | $ | 457 |   |   |   | 4.9 | % |

----

|                    |   | Three Months Ended September 30, |   |
|-------------------------|--------|----------------------------------|--------|
|                    |   | 2010                             |   |   | 2009 |   |   | 2010 vs. 2009 |   |
|                    |   |                             |   |   |   |   |   |   |   |   |   |   |   | Increase (Decrease) |   |
|                    |   | Amount                           |   |   | % of NetRevenues |   |   | Amount |   |   | % of NetRevenues |   |   | Revenues |   |   | Units Processed |   |
|                    |   | Amounts                          |   |   | Percent |   |   | Number |   |   | Percent |   |
| Coins(1)                |   | $                                | 5,977  |   |   |   | 61.2 | % |   | $ | 5,536 |   |   |   | 59.5 | % |   | $ | 441 |   |   |   | 8.0 | % |   |   | 89 |   |   |   | 24.8 | % |
| Cards and autographs(2) |   |                             | 2,592  |   |   |   | 26.6 | % |   |   | 2,566 |   |   |   | 27.6 | % |   |   | 26 |   |   |   | 1.0 | % |   |   | 10 |   |   |   | 3.1 | % |
| Other (3)               |   |                             | 1,186  |   |   |   | 12.2 | % |   |   | 1,196 |   |   |   | 12.9 | % |   |   | (10 | ) |   |   | (0.8 | )% |   |   | (1 | )(4) |   |   | (27.8 | )% |
|                    |   | $                                | 9,755  |   |   |   | 100.0 | % |   | $ | 9,298 |   |   |   | 100.0 | % |   | $ | 457 |   |   |   | 4.9 | % |   |   | 98 |   |   |   | 14.0 | % |

----

| (1)      | Includes coin authentication and grading fees and related revenues, but excludes coin product sales revenues (see 4 below). |
|-----------------------------------|-----------------------------------------------------------------------------------------------------------------------------|

| (2)      | Consists of revenues from our trading card and our autograph authentication and grading businesses. |
|-----------------------------------|-----------------------------------------------------------------------------------------------------|

| (3)      | Includes the revenues of our stamp authentication and grading business, CCE subscription fees, CFC interest income, the revenues of our Expos convention business, and coin product sales revenues. |
|-----------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4)      | Consists of the change in the number of stamps graded and authenticated. |
|------------------------------|--------------------------------------------------------------------------|

----

|         |   | Three Months Ended September 30, |   |
|--------------|--------|----------------------------------|--------|
|         |   | 2010                             |   |   | 2009 |   |
|         |   | Amount                           |   |   | % of Revenues |   |   | Amount |   |   | % of Revenues |   |
| Gross profit |   | $                                | 5,981  |   |   |   | 61.3 | % |   | $ | 5,559 |   |   |   | 59.8 | % |

|                  |   | Three Months Ended September 30, |   |
|-----------------------|--------|----------------------------------|--------|
|                  |   | 2010                             |   |   | 2009 |   |
|                  |   | Amount                           |   |   | % of Revenues |   |   | Amount |   |   | % of Revenues |   |
| Selling and Marketing |   | $                                | 1,524  |   |   |   | 15.6 | % |   | $ | 1,195 |   |   |   | 12.9 | % |

|                       |   | Three Months Ended September 30, |   |
|----------------------------|--------|----------------------------------|--------|
|                       |   | 2010                             |   |   | 2009 |   |
|                       |   | Amount                           |   |   | % of Revenues |   |   | Amount |   |   | % of Revenues |   |
| General and Administrative |   | $                                | 2,618  |   |   |   | 26.8 | % |   | $ | 2,568 |   |   |   | 27.6 | % |

----

|                                |   | Three Months EndedSeptember 30, |   |
|-------------------------------------|--------|---------------------------------|--------|
|                                |   | 2010                            |   |   | 2009 |   |
| Included in:                        |   |                            |   |   |   |   |
| General and administrative expenses |   | $                               | 195    |   |   | $ | 165 |   |
|                                |   | $                               | 195    |   |   | $ | 165 |   |

| Fiscal Year Ending June 30, |   | Amount |   |
|-----------------------------|--------|--------|--------|
| 2011 (remaining 9 months)   |   | $      | 782    |   |
| 2012                        |   |   | 449    |   |
| 2013                        |   |   | 42     |   |
|                        |   | $      | 1,273  |   |

|                           |   | Three Months Ended September 30, |   |
|--------------------------------|--------|----------------------------------|--------|
|                           |   | 2010                             |   |   | 2009 |   |
|                           |   | Amount                           |   |   | % ofRevenues |   |   | Amount |   |   | % ofRevenues |   |
|                           |   | (In Thousands)                   |   |
| Interest and other income, net |   | $                                | 24     |   |   |   | 0.2 | % |   | $ | 40 |   |   |   | 0.4 | % |

|               |   | Three Months Ended September 30, |   |
|--------------------|--------|----------------------------------|--------|
|               |   | 2010                             |   |   | 2009 |   |
|               |   | (In Thousands)                   |   |
| Income tax expense |   | $                                | 745    |   |   | $ | 127 |   |

----

|                                                    |   | Three Months Ended September 30, |   |
|---------------------------------------------------------|--------|----------------------------------|--------|
|                                                    |   | 2010                             |   |   | 2009 |   |
|                                                    |   | (In Thousands)                   |   |
| Loss from discontinued operations (net of income taxes) |   | $                                | (13    | ) |   | $ | (53 | ) |

Liquidity and Capital Resources

----

|  Fiscal Year           |   | GrossAmount |   |   | SubleaseIncome |   |   | Net    |   |
|-----------------------------|--------|-------------|--------|--------|----------------|--------|--------|--------|--------|
| 2011(remaining nine months) |   | $           | 933    |   |           | $      | 32     |   |   | $ | 901 |   |
| 2012                        |   |        | 1,228  |   |           |   | 43     |   |   |   | 1,185 |   |
| 2013                        |   |        | 1,258  |   |           |   | 45     |   |   |   | 1,213 |   |
| 2014                        |   |        | 1,179  |   |           |   | 46     |   |   |   | 1,133 |   |
| 2015                        |   |        | 1,153  |   |           |   | 47     |   |   |   | 1,106 |   |
| Thereafter                  |   |        | 4,275  |   |           |   | 191    |   |   |   | 4,084 |   |
|                        |   | $           | 10,026 |   |           | $      | 404    |   |   | $ | 9,622 |   |

|  Fiscal Year                              |   | GrossAmount |   |   | SubleaseIncome |   |   | Net    |   |
|------------------------------------------------|--------|-------------|--------|--------|----------------|--------|--------|--------|--------|
| 2011(remaining nine months)                    |   | $           | 482    |   |           | $      | 129    |   |   | $ | 353 |   |
| 2012                                           |   |        | 675    |   |           |   | 174    |   |   |   | 501 |   |
| 2013                                           |   |        | 721    |   |           |   | 181    |   |   |   | 540 |   |
| 2014                                           |   |        | 759    |   |           |   | 192    |   |   |   | 567 |   |
| 2015                                           |   |        | 794    |   |           |   | 195    |   |   |   | 599 |   |
| Thereafter                                     |   |        | 1,350  |   |           |   | 99     |   |   |   | 1,251 |   |
|                                           |   | $           | 4,781  |   |           | $      | 970    |   |   | $ | 3,811 |   |
| Less:  Accrual at September 30, 2010 |   |        |   |   |           |   |   |   |   |   | (3,259 | ) |
|                                           |   |        |   |   |           |   |   |   |   | $ | 552 |   |

----

Recent Accounting Pronouncements

ITEM 4T

----

PART II – OTHER INFORMATION

Item 1A.    Risk Factors

| ITEM 6. | EXHIBITS |
|---------|----------|

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

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SIGNATURES

|                                                                                    |   | COLLECTORS UNIVERSE, INC. |
|-----------------------------------------------------------------------------------------|--------|---------------------------|
|                                                                                    |   |                      |
| Date:           November 4, 2010 | By:    | /s/ MICHAEL J. MCCONNELL  |
|                                                                                    |   | Michael J. McConnell      |
|                                                                                    |   | Chief Executive Officer   |

|                                                                                    |   | COLLECTORS UNIVERSE, INC. |
|-----------------------------------------------------------------------------------------|--------|---------------------------|
|                                                                                    |   |                      |
| Date:           November 4, 2010 | By:    | /s/ JOSEPH J. WALLACE     |
|                                                                                    |   | Joseph J. Wallace         |
|                                                                                    |   | Chief Financial Officer   |

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|   | INDEX TO EXHIBITS |
|--------|-------------------|

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

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