Collectors Universe (CLCT) 10-Q 5 May 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Mar. 31, 2016	Apr. 30, 2016
Entity Registrant Name	COLLECTORS UNIVERSE INC
Entity Central Index Key	1,089,143
Trading Symbol	clct
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		8,898,104
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2016	Jun. 30, 2015
Current assets:
Cash and cash equivalents	$ 12,581,000	$ 17,254,000
Accounts receivable, net of allowance of $34 and $33 at March 31, 2016 and June 30, 2015, respectively	3,620,000	2,460,000
Inventories, net	1,835,000	1,619,000
Prepaid expenses and other current assets	1,253,000	940,000
Deferred income tax assets	1,599,000	1,599,000
Total current assets	20,888,000	23,872,000
Property and equipment, net	2,773,000	2,326,000
Goodwill	2,083,000	2,083,000
Intangible assets, net	1,795,000	1,558,000
Deferred Tax Assets, Net, Noncurrent	1,945,000	1,945,000
Other assets	267,000	236,000
Non-current assets of discontinued operations	79,000	182,000
Total assets	29,830,000	32,202,000
Current liabilities:
Accounts payable	2,509,000	1,961,000
Accrued liabilities	2,030,000	2,898,000
Accrued compensation and benefits	2,930,000	3,890,000
Income taxes payable	2,543,000	521,000
Deferred revenue	2,730,000	2,621,000
Current liabilities of discontinued operations	609,000	778,000
Total current liabilities	13,351,000	12,669,000
Deferred rent	407,000	422,000
Non-current liabilities of discontinued operations	$ 329,000	$ 642,000
Commitments and contingencies (Note 10)
Stockholders’ equity:
Preferred stock, $.001 par value; 3,000 shares authorized; no shares issued or outstanding
Common stock, $.001 par value; 20,000 shares authorized; 8,898 and 8,882 issued and outstanding at March 31, 2016 and June 30, 2015, respectively.	$ 9,000	$ 9,000
Additional paid-in capital	80,295,000	79,848,000
Accumulated deficit	(64,561,000)	(61,388,000)
Total stockholders’ equity	15,743,000	18,469,000
Total liabilities and stockholders’ equity	$ 29,830,000	$ 32,202,000

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2016	Jun. 30, 2015
Account receivable, allowance	$ 34,000	$ 33,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	3,000,000	3,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	8,898,000	8,882,000
Common stock, shares outstanding (in shares)	8,898,000	8,882,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Net revenues	$ 17,329	$ 15,987	$ 44,583	$ 46,313
Cost of revenues	6,288	5,875	16,444	16,738
Gross profit	11,041	10,112	28,139	29,575
Operating expenses:
Selling and marketing expenses	2,132	2,285	6,341	6,799
General and administrative expenses	4,504	4,155	12,508	13,433
Total operating expenses	6,636	6,440	18,849	20,232
Operating income	4,405	3,672	9,290	9,343
Interest income and other expense, net	3	(40)	(39)	(42)
Income before provision for income taxes	4,408	3,632	9,251	9,301
Provision for income taxes	1,695	1,450	3,600	3,670
Income from continuing operations	2,713	2,182	5,651	5,631
Income (loss) from discontinued operations, net of income taxes	65	(12)	47	(3)
Net income	$ 2,778	$ 2,170	$ 5,698	$ 5,628
Net income per basic share
Income from continuing operations (in dollars per share)	$ 0.32	$ 0.26	$ 0.67	$ 0.68
Income (loss) from discontinued operations (in dollars per share)	0.01			(0.01)
Net income per basic share (in dollars per share)	0.33	$ 0.26	$ 0.67	0.67
Net income per diluted share
Income from continuing operations (in dollars per share)	$ 0.32	0.26	0.66	$ 0.66
Income (loss) from discontinued operations (in dollars per share)		(0.01)	0.01
Net income per diluted share (in dollars per share)	$ 0.32	$ 0.25	$ 0.67	$ 0.66
Weighted average shares outstanding
Basic (in shares)	8,447	8,353	8,441	8,339
Diluted (in shares)	8,549	8,531	8,544	8,517
Dividends declared per common share (in dollars per share)	$ 0.35	$ 0.35	$ 1.05	$ 1

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 5,698,000	$ 5,628,000
Discontinued operations	(47,000)	3,000
Income from continuing operations	5,651,000	5,631,000
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Depreciation and amortization expense	1,094,000	974,000
Stock-based compensation expense	449,000	1,803,000
Provision for bad debts	5,000	5,000
Provision for inventory write-down	46,000	184,000
Provision for warranty	(293,000)	380,000
Gain on sale of property and equipment	$ (2,000)	(1,000)
Loss on sale of business		1,000
Change in operating assets and liabilities:
Accounts receivable	$ (1,213,000)	(261,000)
Inventories	(262,000)	(536,000)
Prepaid expenses and other	(313,000)	463,000
Other assets	(31,000)	125,000
Accounts payable and accrued liabilities	47,000	(904,000)
Accrued compensation and benefits	(960,000)	(605,000)
Income taxes payable	2,020,000	404,000
Deferred revenue	109,000	204,000
Deferred rent	(15,000)	(25,000)
Net cash provided by operating activities of continuing operations	6,332,000	7,842,000
Net cash used in operating activities of discontinued businesses	(331,000)	(471,000)
Net cash provided by operating activities	6,001,000	7,371,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(1,113,000)	(624,000)
Capitalized software	$ (615,000)	(250,000)
Purchase of business		(200,000)
Proceeds from sale of business	$ 49,000	80,000
Patents and other intangibles	$ (4,000)	(40,000)
Proceeds from sale of property and equipment		2,000
Net cash used in investing activities	$ (1,683,000)	(1,032,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends paid to common stockholders	$ (8,991,000)	(8,415,000)
Payments for retirement of common stock		(504,000)
Net cash used in financing activities	$ (8,991,000)	(8,919,000)
Net decrease in cash and cash equivalents	(4,673,000)	(2,580,000)
Cash and cash equivalents at beginning of period	17,254,000	19,909,000
Cash and cash equivalents at end of period	$ 12,581,000	$ 17,329,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid during the period
Income taxes paid during the period	$ 1,609,000	$ 3,264,000

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. SUMMARY OF Significant Accounting Policies Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements include the accounts of Collectors Universe, Inc. and its operating subsidiaries (the “Company”, “we”, “us”, or “our”). At March 31, 2016, our operating subsidiaries were Certified Asset Exchange, Inc. (“CAE”), Collectors Universe (Hong Kong) Limited, Collectors Universe (Shanghai) Limited, and Expos, LLC. (“Expos”), all of which are ultimately 100% owned by Collectors Universe, Inc. All significant intercompany transactions and accounts have been eliminated in consolidation. Unaudited Interim Financial Information The accompanying interim condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These interim condensed consolidated financial statements are unaudited and, in the opinion of management, include all adjustments (consisting of normal recurring adjustments and accruals) necessary to present fairly the Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations, and Condensed Consolidated Statements of Cash Flows for the periods presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”). Operating results for the three and nine months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending June 30, 2016 or for any other interim period during such year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the rules and regulations of the SEC. These interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2015, as filed with the SEC on August 27, 2015 (our “Fiscal 2015 10-K”). Amounts related to disclosure of June 30, 2015 balances within these interim condensed consolidated financial statements were derived from the aforementioned audited consolidated financial statements and the notes thereto. Reclassification s Certain prior period amounts have been reclassified to conform to the current period presentation. Revenue Recognition Policies We record revenue at the time of shipment of the authenticated and graded collectible to the customer, net of any taxes collected. Due to the insignificant delay between the completion of our authentication and grading services and the shipment of the collectible or high-value asset back to the customer, the time of shipment corresponds to the completion of our authentication and grading services. We recognize revenue for the sale of special coin inserts at the time the customer takes legal title to the insert. Many of our authentication and grading customers prepay our authentication and grading fees when they submit their collectibles to us for authentication and grading. We record those prepayments as deferred revenue until the collectibles have been authenticated and graded and shipped back to them. At that time, we record the revenues from the authentication and grading services we have performed for the customer and deduct this amount from deferred revenue. For certain dealers to whom we extend open account privileges, we record revenue at the time of shipment of the authenticated and graded collectible to the dealer. With respect to our Expos trade show business, we recognize revenue from each show in the period in which the show takes place. A portion of our net revenues are comprised of subscription fees paid by customers for one year memberships in our Collectors Club. Those membership subscription fees entitle members to access our on-line and printed publications and, in some cases, to receive limited life vouchers for free grading services. We recognize revenue attributable to free grading vouchers on a specific basis and classify those revenues as part of authentication and grading fees. The balance of the membership fee is recognized over the life of the membership on a time-apportioned basis. We recognize product sales when items are shipped to customers. Product revenues consist primarily of sales of collectible coins that we purchase pursuant to our coin authentication and grading warranty program. However, those sales are not considered an integral part of the Company’s ongoing revenue generating activities. Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results from continuing and discontinued operations could differ from results expected on the basis of those estimates, and such differences could be material to our future results of operations and financial condition. Examples of such estimates that could be material include determinations made with respect to the capitalization and recovery of software development costs, the valuation of stock-based compensation awards and the timing of the recognition of related stock-based compensation expense, the valuation of coin inventory, the amount and assessment of goodwill for impairment, the sufficiency of warranty reserves, the provision or benefit for income taxes and related valuation allowances, and adjustments to the fair value of remaining lease obligations for our discontinued jewelry businesses. Goodwill and Other Long-Lived Assets We evaluate the carrying value of goodwill and indefinite-lived intangible assets at least annually, or more frequently if facts and circumstances indicate that impairment may have occurred. Qualitative factors are considered in performing our goodwill impairment assessment, including the significant excess of fair value over carrying value in prior years, and any material changes in the estimated cash flows of the reporting unit. We also evaluate the carrying values of all other tangible and intangible assets for impairment if circumstances arise in which the carrying values of these assets may not be recoverable on the basis of future undiscounted cash flows. We determined that no impairment of goodwill or other long-lived assets existed as of March 31, 2016. Foreign Currency Stock-Based Compensation We recognize stock-based compensation attributable to service-based equity grants over the service period based on the grant date fair value. For performance-based equity grants with financial performance goals, we begin recognizing compensation expense based on the grant date fair value, if and when, it becomes probable that we will achieve the financial performance goals. Restricted Stock Awards In connection with the Company’s Long-Term Incentive Plan (“LTIP”) adopted by the Compensation Committee of the Board of Directors in fiscal 2013 and as previously disclosed in our Fiscal 2015 10-K, we did not achieve Performance Goal #2 in fiscal 2015. Nevertheless we still consider it probable that we will achieve that goal prior to the expiration of the LTIP in fiscal 2018. Therefore, we are accruing the remaining stock-based compensation expense for Performance Goal #2 on a prospective basis, through the expected later vesting date. At this time, it is considered too early to determine if it is probable that the Company will achieve additional Performance Goals beyond Performance Goal #2 in fiscal 2016 or future periods. We will continue to reassess at each reporting date whether it has become probable that any additional performance goals will be achieved. If additional shares are expected to vest, additional stock-based compensation expense will be recognized based on the expected vesting period. Stock-based compensation in the three and nine months ended March 31, 2016 was $159,000 and $449,000, respectively, as compared to $438,000 and $1,803,000 in the three and nine months ended March 31, 2015. Concentrations Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Financial Instruments and Cash Balances. Substantially all of our cash is deposited at two FDIC insured financial institutions. Cash due from banks, inclusive of cash in overseas accounts, in excess of the bank’s FDIC insured deposit limits was approximately $11,829,000 at March 31, 2016. Accounts Receivable. Coin Revenues Customers. Inventories Our inventories consist primarily of (i) coins which we have purchased pursuant to our coin authentication and grading warranty program and (ii) consumable supplies and special inserts that we use in our continuing authentication and grading businesses. Coin collectibles inventories are recorded at the lower of cost or estimated market value using the specific identification method. Consumable supplies are recorded at the lower of cost (using the first-in first-out method) or market. Inventories are periodically reviewed to identify slow-moving items, and an allowance for inventory losses is recognized, as considered necessary. It is possible that our estimates of market value of collectible coins in inventory could change due to market conditions in the various collectibles markets served by the Company, which could require us to increase that allowance for inventory losses. Capitalized Software We capitalize certain costs incurred in the development and upgrading of our software, either from internal or external sources, as part of intangible assets and we amortize those costs on a straight-line basis over the estimated useful life of the software of three years. In the three and nine months ended March 31, 2016 we capitalized approximately $245,000 and $615,000, respectively of software development cost as compared to $217,000 and $250,000 in the three and nine months ended March 31, 2015, respectively. In the three and nine months ended March 31, 2016, we recorded approximately $64,000 and $168,000, respectively as amortization expense for capitalized software as compared to $20,000 and $98,000, respectively, in the three and nine months ended March 31, 2015. Planning, training, support and maintenance costs incurred either prior to or following the implementation phase are recognized as expense in the period in which they occur. We evaluate the carrying value of capitalized software for possible impairment, and, if necessary, an impairment loss is recorded in the period in which any impairment is determined to have occurred. Warranty Costs We offer a limited warranty covering the coins and trading cards that we authenticate and grade. Under the warranty, if any collectible coin or trading card that was previously authenticated and graded by us is later submitted to us for re-grading and either (i) receives a lower grade upon that re-submittal or (ii) is determined not to have been authentic, we will offer to purchase the collectible or, in the alternative, at the customer’s option, pay the difference in value of the item at its original grade, as compared with its lower grade. However, this warranty is voided if the collectible, upon re-submittal to us, is not in the same tamper-resistant holder in which it was placed at the time we last graded it. We accrue for estimated warranty costs based on historical trends and related experience and monitor the adequacy of our warranty reserves on an ongoing basis. In the third quarter fiscal 2016, the Company performed a detailed analysis of our coin warranty payments and related reserve requirements. Due to improved operational systems, we were able to better match warranty payments to the periods in which the coins were originally authenticated and graded by us. We concluded that, although there is no time limitation on our warranty obligation, the majority of our warranty claims arise within five years of the coin being authenticated and graded by us. Therefore, we deemed it appropriate to reduce our warranty reserve to $869,000 at March 31, 2016, which reduced the warranty expense recognized in the three and nine months ended March 31, 2016 by $656,000 as compared to the three and nine months ended March 31, 2015 (See note 4). Dividends In accordance with the Company’s current quarterly dividend policy, we paid quarterly cash dividends of $0.35 per share of common stock in the third quarter of fiscal 2016. The declaration of cash dividends in the future is subject to final determination each quarter by the Board of Directors based on a number of factors, including the Company’s financial performance and its available cash resources, its cash requirements and alternative uses of cash that the Board may conclude would represent an opportunity to generate a greater return on investment for the Company. Recent Accounting Pronouncements In September 2015, FASB issued Accounting Standards Update 2015-16, on Business Combinations and Simplifying the Accounting for measurement-period adjustments. Under this guidance an acquirer is required to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The guidance requires that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. In addition, the guidance requires an entity to present separately on the face of the income statement or disclose in the notes, the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The adoption of this guidance is not expected to have a material effect on the Company’s Condensed Consolidated Financial Statements and related disclosures. The guidance is effective for fiscal years beginning after December 15, 2015 and interim periods thereafter. In November 2015, FASB issued Accounting Standards Update 2015-17, on Income Taxes and the Balance Sheet Classification of Deferred Taxes. Under this updated guidance, deferred tax assets and liabilities are required to be classified as noncurrent asset or liabilities in the Company’s balance sheet. The guidance is effective for financial years beginning after December 15, 2016 and interim periods within those annual periods. Earlier adoption is permitted and the updated guidance, may be applied either prospectively or retrospectively. The Company plans to implement this guidance at June 30, 2016 and will retrospectively restate its comparable balance sheet at June 30, 2015 at that time. Had the Company adopted this guidance as of March 31, 2016 and June 30, 2015, deferred tax assets of $1,599,000 classified as part of current assets would have been reclassified to noncurrent deferred tax assets, such that noncurrent deferred tax assets would have been increased from $1,945,000 to $3,544,000 at both March 31, 2016 and June 30, 2015 and total current assets at March 31, 2016 and June 30, 2015 would have been reduced to $19,289,000 and $22,273,000, respectively. There would have been no change to total assets at March 31, 2016 and June 30, 2015 arising from this guidance. In February 2016, FASB issued Accounting Standards Update 2016-02 on Accounting for Leases. The core principle of this guidance is that a lessee should recognize the assets and liabilities that arise from leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. The adoption of this guidance is expected to have a material effect on the Company’s consolidated financial statement and related disclosures. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods thereafter. Early adoption is permitted. In March 2016, FASB issued Accounting Standards Update 2016-09 Compensation–Stock Compensation: Improvements to Employee Share-Based Payment Accounting. Under this updated guidance all excess tax benefits and tax deficiencies, should be recognized as income tax expense or benefit in the income statement. The tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity should recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. The guidance is effective for annual periods beginning after December 5, 2016 and interim periods within those annual periods. Early adoption is permitted.

Note 2 - Inventories

Note 2 - Inventories	9 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	2. INVENTORIES Inventories consist of the following (in thousands): March 31 , June 30, 2016 201 5 Coins $ 434 $ 504 Grading raw materials consumable inventory 2,018 1,728 2,452 2,232 Less inventory reserve (617 ) (613 ) Inventories, net $ 1,835 $ 1,619 The inventory reserve represents a valuation allowance on certain items of our coins, other collectibles and consumable inventories based upon our review of the current market value of such coins and collectibles and the usage of consumables. The estimated value of coins can be subjective and can vary depending on market conditions for precious metals, the number of qualified buyers for a particular coin and the uniqueness and special features of a particular coin.

Note 3 - Property and Equipment

Note 3 - Property and Equipment	9 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	3. PROPERTY AND EQUIPMENT Property and equipment consist of the following (in thousands): March 31, June 30, 2016 2015 Coins grading reference sets $ 263 $ 263 Computer hardware and equipment 2,770 2,301 Computer software 1,202 1,148 Equipment 4,826 4,465 Furniture and office equipment 1,112 1,079 Leasehold improvements 1,139 1,024 Trading card reference library 52 52 11,364 10,332 Less accumulated depreciation and amortization (8,591 ) (8,006 ) Property and equipment, net $ 2,773 $ 2,326

Note 4 - Accrued Liabilities

Note 4 - Accrued Liabilities	9 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	4. ACCRUED LIABILITIES Accrued liabilities consist of the following (in thousands): March 31 , June 30, 2016 201 5 Warranty reserves $ 869 $ 1,492 Other 1,161 1,406 $ 2,030 $ 2,898 The following table presents the changes in the Company’s warranty reserve during the nine months ended March 31, 2016 and 2015 (in thousands): Nine Months Ended March 31 , 2016 2015 Warranty reserve beginning of period $ 1,492 $ 1,569 Provision charged to cost of revenues 363 380 Change in estimate (656 ) - Payments (330 ) (399 ) Warranty reserve, end of period $ 869 $ 1,550 We conducted a detailed review of our warranty reserves in the third quarter of fiscal 2016 and the resulting change in estimate reduced warranty expense by $656,000 in the third quarter.

Note 5 - Discontinued Operation

Note 5 - Discontinued Operations	9 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	5. DISCONTINUED OPERATIONS During fiscal 2009, the Board of Directors authorized the divesture and sale of the Company’s jewelry and the currency grading businesses, the remaining assets and liabilities of which have been reclassified as assets and liabilities of discontinued operations on the Condensed Consolidated Balance Sheets as of March 31, 2016 and June 30, 2015. The operating results of the discontinued businesses that are included in the accompanying Condensed Consolidated Statements of Operations were not material. The balance of our remaining lease related obligations in connection with the fiscal 2009 disposal of our jewelry business was $934,000 at March 31, 2016, of which $605,000 was classified as a current liability, and $329,000 was classified as a non-current liability in the accompanying condensed consolidated balance sheet at March 31, 2016. We will continue to review and, if necessary, make adjustments to the lease obligation accruals on a quarterly basis.

Note 6 - Income Taxes

Note 6 - Income Taxes	9 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	6. INCOME TAXES In both the nine months ended March 31, 2016 and 2015, we recognized provisions for income taxes based upon estimated annual effective tax rates of approximately 39% and such provisions include valuation allowances established against losses of foreign subsidiaries.

Note 7 - Net Income Per Share

Note 7 - Net Income Per Share	9 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Earnings Per Share [Text Block]	7. NET INCOME PER SHARE The following table presents the changes in the Company’s weighted average shares outstanding for the three and nine months ended March 31, 2016 and 2015 (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2016 20 15 2016 2015 Weighted average shares outstanding: Basic 8,447 8,353 8,441 8,339 Dilutive effect of stock options - - - 2 Dilutive effect of restricted shares 102 178 103 176 Weighted average shares outstanding: Diluted 8,549 8,531 8,544 8,517 A total of 24,000 unvested restricted shares of common stock were excluded from the computation of diluted income per share, in the three months ended March 31, 2016, as their inclusion would have been anti-dilutive. There were no anti-dilutive options or restricted shares of common stock in either the three or the nine months ended March 31, 2015. In addition, approximately 279,000 and 264,000 of unvested performance-based restricted shares of common stock were excluded from the computation of diluted earnings per share in the three and nine months ended March 31, 2016, respectively, as compared to 262,000 and 259,000 of unvested performance based shares in the three and nine months ended March 31, 2015, respectively, because we had not achieved the related financial performance goals required for those shares to vest.

Note 8 - Business Segments

Note 8 - Business Segments	9 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	8. BUSINESS SEGMENTS Operating segments are defined as the components or “segments” of an enterprise for which separate financial information is available that is evaluated regularly by the Company’s chief operating decision maker, or decision-making group, in deciding how to allocate resources to and in assessing performance of those components or “segments”. The Company’s chief operating decision-maker is its Chief Executive Officer. The Company’s operating segments are organized based on the respective services that they offer to customers. Similar operating segments have been aggregated to reportable operating segments based on having similar services, types of customers, and other criteria. For our continuing operations, we operate principally in three reportable service segments: coins, trading cards and autographs and other collectibles. Services provided by these segments include authentication, grading, publications, advertising and commissions earned, subscription-based revenues and product sales. The other collectibles segment is comprised of CCE, Coinflation.com, Collectors.com and our collectibles trade show business. We allocate operating expenses to each service segment based upon each segment’s activity level. The following tables set forth, on a segment basis, a reconciliation with the condensed consolidated financial statements, of (i) external revenues, (ii) amortization and depreciation, (iii) stock-based compensation expense, and (iv) operating income for the three months and nine months ended March 31, 2016 and 2015, respectively. Net identifiable assets are provided by business segment as of March 31, 2016 and June 30, 2015, respectively (in thousands): Three Months Ended Nine Months Ended March 31, March 31, 20 16 20 15 20 16 20 15 Net revenues from external customers: Coins $ 11,992 $ 11,008 $ 29,590 $ 31,891 Trading cards and autographs 4,005 3,671 11,576 11,154 Other 1,332 1,308 3,417 3,268 Consolidated total revenue $ 17,329 $ 15,987 $ 44,583 $ 46,313 Amortization and depreciation: Coins $ 118 $ 121 $ 381 $ 373 Trading cards and autographs 57 51 169 151 Other 125 84 344 251 Total 300 256 894 775 Unallocated amortization and depreciation 94 47 200 199 Consolidated amortization and depreciation $ 394 $ 303 $ 1,094 $ 974 Stock-based compensation: Coins $ 22 $ 93 $ 67 $ 354 Trading cards and autographs 3 41 8 197 Other 2 29 5 136 Total 27 163 80 687 Unallocated stock-based compensation 132 275 369 1,116 Consolidated stock-based compensation $ 159 $ 438 $ 449 $ 1,803 Operating income: Coins $ 4,516 $ 3,879 $ 10,117 $ 10,515 Trading cards and autographs 906 708 2,422 2,235 Other 62 394 57 805 Total 5,484 4,981 12,596 13,555 Unallocated operating expenses (1,079 ) (1,309 ) (3,306 ) (4,212 ) Consolidated operating income $ 4,405 $ 3,672 $ 9,290 $ 9,343 March 31, June 30, 2016 2015 Identifiable Assets: Coins $ 7,550 $ 5,961 Trading cards and autographs 1,415 1,436 Other 3,371 2,859 Total 12,336 10,256 Unallocated assets 17,494 21,946 Consolidated assets $ 29,830 $ 32,202 Goodwill: Coins $ 515 $ 515 Other 1,568 1,568 Consolidated goodwill $ 2,083 $ 2,083

Note 9 - Related-party Transact

Note 9 - Related-party Transactions	9 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	9. RELATED-PARTY TRANSACTIONS During the three and nine months ended March 31, 2016, an adult member of the immediate family of Mr. David Hall, the President of the Company, paid grading and authentication fees to us of $552,000 and $1,557,000, respectively, as compared to $179,000 and $828,000 for the three and nine months ended March 31, 2015. At March 31, 2016, the amount owed to the Company for these services was approximately $181,000, as compared to $145,000 at June 30, 2015. An associate of Richard Kenneth Duncan Sr., who as of July 2015 was the beneficial owner of approximately 5% of our outstanding shares, paid us grading and authentication fees of $378,000 and $944,000 in the three and nine months ended March 31, 2016, respectively, as compared to $208,000 and $748,000, respectively, in the same three and nine months of fiscal 2015. At March 31, 2016, the amount owed to the Company for these services was approximately $44,000, as compared to $118,000 at June 30, 2015. In each case, these authentication and grading fees were comparable in amount to the fees which we charge, in the ordinary course of our business, for similar authentication and grading services we render to unaffiliated customers.

Note 10 - Contingencies

Note 10 - Contingencies	9 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Contingencies Disclosure [Text Block]	10. CONTINGENCIES The Company is named from time to time, as a defendant in lawsuits and disputes that arise in the ordinary course of business. We believe that none of the lawsuits or disputes currently pending against the Company is likely to have a material adverse effect on the Company’s financial position or results of operations.

Note 11 - Subsequent Events

Note 11 - Subsequent Events	9 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Subsequent Events [Text Block]	11. SUBSEQUENT EVENTS On April 21, 2016, the Company announced that, in accordance with its dividend policy the Board of Directors had approved a fourth quarter cash dividend of $0.35 per share of common stock and such dividend will be paid on May 27, 2016 to stockholders of record on May 18, 2016.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements include the accounts of Collectors Universe, Inc. and its operating subsidiaries (the “Company”, “we”, “us”, or “our”). At March 31, 2016, our operating subsidiaries were Certified Asset Exchange, Inc. (“CAE”), Collectors Universe (Hong Kong) Limited, Collectors Universe (Shanghai) Limited, and Expos, LLC. (“Expos”), all of which are ultimately 100% owned by Collectors Universe, Inc. All significant intercompany transactions and accounts have been eliminated in consolidation.
Basis of Accounting, Policy [Policy Text Block]	Unaudited Interim Financial Information The accompanying interim condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These interim condensed consolidated financial statements are unaudited and, in the opinion of management, include all adjustments (consisting of normal recurring adjustments and accruals) necessary to present fairly the Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations, and Condensed Consolidated Statements of Cash Flows for the periods presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”). Operating results for the three and nine months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending June 30, 2016 or for any other interim period during such year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the rules and regulations of the SEC. These interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2015, as filed with the SEC on August 27, 2015 (our “Fiscal 2015 10-K”). Amounts related to disclosure of June 30, 2015 balances within these interim condensed consolidated financial statements were derived from the aforementioned audited consolidated financial statements and the notes thereto.
Reclassification, Policy [Policy Text Block]	Reclassification s Certain prior period amounts have been reclassified to conform to the current period presentation.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Policies We record revenue at the time of shipment of the authenticated and graded collectible to the customer, net of any taxes collected. Due to the insignificant delay between the completion of our authentication and grading services and the shipment of the collectible or high-value asset back to the customer, the time of shipment corresponds to the completion of our authentication and grading services. We recognize revenue for the sale of special coin inserts at the time the customer takes legal title to the insert. Many of our authentication and grading customers prepay our authentication and grading fees when they submit their collectibles to us for authentication and grading. We record those prepayments as deferred revenue until the collectibles have been authenticated and graded and shipped back to them. At that time, we record the revenues from the authentication and grading services we have performed for the customer and deduct this amount from deferred revenue. For certain dealers to whom we extend open account privileges, we record revenue at the time of shipment of the authenticated and graded collectible to the dealer. With respect to our Expos trade show business, we recognize revenue from each show in the period in which the show takes place. A portion of our net revenues are comprised of subscription fees paid by customers for one year memberships in our Collectors Club. Those membership subscription fees entitle members to access our on-line and printed publications and, in some cases, to receive limited life vouchers for free grading services. We recognize revenue attributable to free grading vouchers on a specific basis and classify those revenues as part of authentication and grading fees. The balance of the membership fee is recognized over the life of the membership on a time-apportioned basis. We recognize product sales when items are shipped to customers. Product revenues consist primarily of sales of collectible coins that we purchase pursuant to our coin authentication and grading warranty program. However, those sales are not considered an integral part of the Company’s ongoing revenue generating activities.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results from continuing and discontinued operations could differ from results expected on the basis of those estimates, and such differences could be material to our future results of operations and financial condition. Examples of such estimates that could be material include determinations made with respect to the capitalization and recovery of software development costs, the valuation of stock-based compensation awards and the timing of the recognition of related stock-based compensation expense, the valuation of coin inventory, the amount and assessment of goodwill for impairment, the sufficiency of warranty reserves, the provision or benefit for income taxes and related valuation allowances, and adjustments to the fair value of remaining lease obligations for our discontinued jewelry businesses.
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and Other Long-Lived Assets We evaluate the carrying value of goodwill and indefinite-lived intangible assets at least annually, or more frequently if facts and circumstances indicate that impairment may have occurred. Qualitative factors are considered in performing our goodwill impairment assessment, including the significant excess of fair value over carrying value in prior years, and any material changes in the estimated cash flows of the reporting unit. We also evaluate the carrying values of all other tangible and intangible assets for impairment if circumstances arise in which the carrying values of these assets may not be recoverable on the basis of future undiscounted cash flows. We determined that no impairment of goodwill or other long-lived assets existed as of March 31, 2016.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation We recognize stock-based compensation attributable to service-based equity grants over the service period based on the grant date fair value. For performance-based equity grants with financial performance goals, we begin recognizing compensation expense based on the grant date fair value, if and when, it becomes probable that we will achieve the financial performance goals. Restricted Stock Awards In connection with the Company’s Long-Term Incentive Plan (“LTIP”) adopted by the Compensation Committee of the Board of Directors in fiscal 2013 and as previously disclosed in our Fiscal 2015 10-K, we did not achieve Performance Goal #2 in fiscal 2015. Nevertheless we still consider it probable that we will achieve that goal prior to the expiration of the LTIP in fiscal 2018. Therefore, we are accruing the remaining stock-based compensation expense for Performance Goal #2 on a prospective basis, through the expected later vesting date. At this time, it is considered too early to determine if it is probable that the Company will achieve additional Performance Goals beyond Performance Goal #2 in fiscal 2016 or future periods. We will continue to reassess at each reporting date whether it has become probable that any additional performance goals will be achieved. If additional shares are expected to vest, additional stock-based compensation expense will be recognized based on the expected vesting period. Stock-based compensation in the three and nine months ended March 31, 2016 was $159,000 and $449,000, respectively, as compared to $438,000 and $1,803,000 in the three and nine months ended March 31, 2015.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentrations Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Financial Instruments and Cash Balances. Substantially all of our cash is deposited at two FDIC insured financial institutions. Cash due from banks, inclusive of cash in overseas accounts, in excess of the bank’s FDIC insured deposit limits was approximately $11,829,000 at March 31, 2016. Accounts Receivable. Coin Revenues Customers.
Inventory, Policy [Policy Text Block]	Inventories Our inventories consist primarily of (i) coins which we have purchased pursuant to our coin authentication and grading warranty program and (ii) consumable supplies and special inserts that we use in our continuing authentication and grading businesses. Coin collectibles inventories are recorded at the lower of cost or estimated market value using the specific identification method. Consumable supplies are recorded at the lower of cost (using the first-in first-out method) or market. Inventories are periodically reviewed to identify slow-moving items, and an allowance for inventory losses is recognized, as considered necessary. It is possible that our estimates of market value of collectible coins in inventory could change due to market conditions in the various collectibles markets served by the Company, which could require us to increase that allowance for inventory losses.
Research, Development, and Computer Software, Policy [Policy Text Block]	Capitalized Software We capitalize certain costs incurred in the development and upgrading of our software, either from internal or external sources, as part of intangible assets and we amortize those costs on a straight-line basis over the estimated useful life of the software of three years. In the three and nine months ended March 31, 2016 we capitalized approximately $245,000 and $615,000, respectively of software development cost as compared to $217,000 and $250,000 in the three and nine months ended March 31, 2015, respectively. In the three and nine months ended March 31, 2016, we recorded approximately $64,000 and $168,000, respectively as amortization expense for capitalized software as compared to $20,000 and $98,000, respectively, in the three and nine months ended March 31, 2015. Planning, training, support and maintenance costs incurred either prior to or following the implementation phase are recognized as expense in the period in which they occur. We evaluate the carrying value of capitalized software for possible impairment, and, if necessary, an impairment loss is recorded in the period in which any impairment is determined to have occurred.
Standard Product Warranty, Policy [Policy Text Block]	Warranty Costs We offer a limited warranty covering the coins and trading cards that we authenticate and grade. Under the warranty, if any collectible coin or trading card that was previously authenticated and graded by us is later submitted to us for re-grading and either (i) receives a lower grade upon that re-submittal or (ii) is determined not to have been authentic, we will offer to purchase the collectible or, in the alternative, at the customer’s option, pay the difference in value of the item at its original grade, as compared with its lower grade. However, this warranty is voided if the collectible, upon re-submittal to us, is not in the same tamper-resistant holder in which it was placed at the time we last graded it. We accrue for estimated warranty costs based on historical trends and related experience and monitor the adequacy of our warranty reserves on an ongoing basis. In the third quarter fiscal 2016, the Company performed a detailed analysis of our coin warranty payments and related reserve requirements. Due to improved operational systems, we were able to better match warranty payments to the periods in which the coins were originally authenticated and graded by us. We concluded that, although there is no time limitation on our warranty obligation, the majority of our warranty claims arise within five years of the coin being authenticated and graded by us. Therefore, we deemed it appropriate to reduce our warranty reserve to $869,000 at March 31, 2016, which reduced the warranty expense recognized in the three and nine months ended March 31, 2016 by $656,000 as compared to the three and nine months ended March 31, 2015 (See note 4).
Stockholders' Equity, Policy [Policy Text Block]	Dividends In accordance with the Company’s current quarterly dividend policy, we paid quarterly cash dividends of $0.35 per share of common stock in the third quarter of fiscal 2016. The declaration of cash dividends in the future is subject to final determination each quarter by the Board of Directors based on a number of factors, including the Company’s financial performance and its available cash resources, its cash requirements and alternative uses of cash that the Board may conclude would represent an opportunity to generate a greater return on investment for the Company.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In September 2015, FASB issued Accounting Standards Update 2015-16, on Business Combinations and Simplifying the Accounting for measurement-period adjustments. Under this guidance an acquirer is required to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The guidance requires that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. In addition, the guidance requires an entity to present separately on the face of the income statement or disclose in the notes, the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The adoption of this guidance is not expected to have a material effect on the Company’s Condensed Consolidated Financial Statements and related disclosures. The guidance is effective for fiscal years beginning after December 15, 2015 and interim periods thereafter. In November 2015, FASB issued Accounting Standards Update 2015-17, on Income Taxes and the Balance Sheet Classification of Deferred Taxes. Under this updated guidance, deferred tax assets and liabilities are required to be classified as noncurrent asset or liabilities in the Company’s balance sheet. The guidance is effective for financial years beginning after December 15, 2016 and interim periods within those annual periods. Earlier adoption is permitted and the updated guidance, may be applied either prospectively or retrospectively. The Company plans to implement this guidance at June 30, 2016 and will retrospectively restate its comparable balance sheet at June 30, 2015 at that time. Had the Company adopted this guidance as of March 31, 2016 and June 30, 2015, deferred tax assets of $1,599,000 classified as part of current assets would have been reclassified to noncurrent deferred tax assets, such that noncurrent deferred tax assets would have been increased from $1,945,000 to $3,544,000 at both March 31, 2016 and June 30, 2015 and total current assets at March 31, 2016 and June 30, 2015 would have been reduced to $19,289,000 and $22,273,000, respectively. There would have been no change to total assets at March 31, 2016 and June 30, 2015 arising from this guidance. In February 2016, FASB issued Accounting Standards Update 2016-02 on Accounting for Leases. The core principle of this guidance is that a lessee should recognize the assets and liabilities that arise from leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. The adoption of this guidance is expected to have a material effect on the Company’s consolidated financial statement and related disclosures. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods thereafter. Early adoption is permitted. In March 2016, FASB issued Accounting Standards Update 2016-09 Compensation–Stock Compensation: Improvements to Employee Share-Based Payment Accounting. Under this updated guidance all excess tax benefits and tax deficiencies, should be recognized as income tax expense or benefit in the income statement. The tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity should recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. The guidance is effective for annual periods beginning after December 5, 2016 and interim periods within those annual periods. Early adoption is permitted.

Note 2 - Inventories (Tables)

Note 2 - Inventories (Tables)	9 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	Inventories consist of the following (in thousands): March 31 , June 30, 2016 201 5 Coins $ 434 $ 504 Grading raw materials consumable inventory 2,018 1,728 2,452 2,232 Less inventory reserve (617 ) (613 ) Inventories, net $ 1,835 $ 1,619

Note 3 - Property and Equipme19

Note 3 - Property and Equipment (Tables)	9 Months Ended
	Mar. 31, 2016
Notes Tables
Property, Plant and Equipment [Table Text Block]	Property and equipment consist of the following (in thousands): March 31, June 30, 2016 2015 Coins grading reference sets $ 263 $ 263 Computer hardware and equipment 2,770 2,301 Computer software 1,202 1,148 Equipment 4,826 4,465 Furniture and office equipment 1,112 1,079 Leasehold improvements 1,139 1,024 Trading card reference library 52 52 11,364 10,332 Less accumulated depreciation and amortization (8,591 ) (8,006 ) Property and equipment, net $ 2,773 $ 2,326

Note 4 - Accrued Liabilities (T

Note 4 - Accrued Liabilities (Tables)	9 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	March 31 , June 30, 2016 201 5 Warranty reserves $ 869 $ 1,492 Other 1,161 1,406 $ 2,030 $ 2,898
Schedule of Product Warranty Liability [Table Text Block]	Nine Months Ended March 31 , 2016 2015 Warranty reserve beginning of period $ 1,492 $ 1,569 Provision charged to cost of revenues 363 380 Change in estimate (656 ) - Payments (330 ) (399 ) Warranty reserve, end of period $ 869 $ 1,550

Note 7 - Net Income Per Share (

Note 7 - Net Income Per Share (Tables)	9 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, Nine Months Ended March 31, 2016 20 15 2016 2015 Weighted average shares outstanding: Basic 8,447 8,353 8,441 8,339 Dilutive effect of stock options - - - 2 Dilutive effect of restricted shares 102 178 103 176 Weighted average shares outstanding: Diluted 8,549 8,531 8,544 8,517

Note 8 - Business Segments (Tab

Note 8 - Business Segments (Tables)	9 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Nine Months Ended March 31, March 31, 20 16 20 15 20 16 20 15 Net revenues from external customers: Coins $ 11,992 $ 11,008 $ 29,590 $ 31,891 Trading cards and autographs 4,005 3,671 11,576 11,154 Other 1,332 1,308 3,417 3,268 Consolidated total revenue $ 17,329 $ 15,987 $ 44,583 $ 46,313 Amortization and depreciation: Coins $ 118 $ 121 $ 381 $ 373 Trading cards and autographs 57 51 169 151 Other 125 84 344 251 Total 300 256 894 775 Unallocated amortization and depreciation 94 47 200 199 Consolidated amortization and depreciation $ 394 $ 303 $ 1,094 $ 974 Stock-based compensation: Coins $ 22 $ 93 $ 67 $ 354 Trading cards and autographs 3 41 8 197 Other 2 29 5 136 Total 27 163 80 687 Unallocated stock-based compensation 132 275 369 1,116 Consolidated stock-based compensation $ 159 $ 438 $ 449 $ 1,803 Operating income: Coins $ 4,516 $ 3,879 $ 10,117 $ 10,515 Trading cards and autographs 906 708 2,422 2,235 Other 62 394 57 805 Total 5,484 4,981 12,596 13,555 Unallocated operating expenses (1,079 ) (1,309 ) (3,306 ) (4,212 ) Consolidated operating income $ 4,405 $ 3,672 $ 9,290 $ 9,343
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	March 31, June 30, 2016 2015 Identifiable Assets: Coins $ 7,550 $ 5,961 Trading cards and autographs 1,415 1,436 Other 3,371 2,859 Total 12,336 10,256 Unallocated assets 17,494 21,946 Consolidated assets $ 29,830 $ 32,202 Goodwill: Coins $ 515 $ 515 Other 1,568 1,568 Consolidated goodwill $ 2,083 $ 2,083

Note 1 - Summary of Significa23

Note 1 - Summary of Significant Accounting Policies (Details Textual)	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)$ / shares	Mar. 31, 2015USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)
Sales Revenue, Services, Net [Member] | Product Concentration Risk [Member] | Coins [Member]
Concentration Risk, Percentage	69.00%	69.00%	66.00%	69.00%
Sales Revenue, Services, Net [Member] | Customer Concentration Risk [Member] | Authentication and Grading Services [Member] | Five Customers [Member]
Concentration Risk, Percentage			14.00%	17.00%
Sales Revenue, Services, Net [Member] | Customer Concentration Risk [Member] | Authentication and Grading Services [Member]
Number of Major Customers			5	5
Accounts Receivable [Member] | Customer Concentration Risk [Member]
Number of Major Customers			0		0
Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Asset, Useful Life			3 years
Deferred Tax Assets, Current to Noncurrent Reclassification [Member] | Pro Forma [Member] | Year Ended June 30, 2015 [Member]
Prior Period Reclassification Adjustment			$ 1,599,000
Deferred Tax Assets, Current to Noncurrent Reclassification [Member] | Pro Forma [Member] | Quarter Ended March 31, 2016 [Member]
Prior Period Reclassification Adjustment			1,599,000
Deferred Tax Assets, Current to Noncurrent Reclassification [Member] | Pro Forma [Member]
Deferred Tax Assets, Net, Noncurrent	$ 3,544,000		3,544,000		$ 3,544,000
Assets, Current	19,289,000		19,289,000		22,273,000
Allocated Share-based Compensation Expense	159,000	$ 438,000	449,000	$ 1,803,000
Cash and Cash Equivalents, at Carrying Value	12,581,000	17,329,000	12,581,000	17,329,000	17,254,000	$ 19,909,000
Money Market Funds, at Carrying Value	9,616,000		9,616,000
Other Cash Equivalents, at Carrying Value	2,965,000		2,965,000
Cash	947,000		947,000
Cash, Uninsured Amount	11,829,000		11,829,000
Allowance for Doubtful Accounts Receivable, Current	34,000		34,000		33,000
Capitalized Computer Software, Additions	245,000	217,000	615,000	250,000
Capitalized Computer Software, Amortization	64,000	20,000	168,000	98,000
Standard and Extended Product Warranty Accrual	869,000	$ 1,550,000	869,000	$ 1,550,000	1,492,000	$ 1,569,000
Standard and Extended Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties	$ (656,000)		(656,000)
Common Stock, Dividends, Per Share, Cash Paid | $ / shares	$ 0.35
Deferred Tax Assets, Net, Noncurrent	$ 1,945,000		1,945,000		1,945,000
Assets, Current	$ 20,888,000		20,888,000		$ 23,872,000
Goodwill and Intangible Asset Impairment			$ 0

Note 2 - Inventories (Details)

Note 2 - Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Coins [Member]
Inventory, gross	$ 434	$ 504
Grading Raw Materials Consumable [Member]
Inventory, gross	2,018	1,728
Inventory, gross	2,452	2,232
Less inventory reserve	(617)	(613)
Inventories, net	$ 1,835	$ 1,619

Note 3 - Property and Equipme25

Note 3 - Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Coins Grading Reference Sets [Member]
Property and equipment, gross	$ 263	$ 263
Computer Equipment [Member]
Property and equipment, gross	2,770	2,301
Computer Software [Member]
Property and equipment, gross	1,202	1,148
Equipment [Member]
Property and equipment, gross	4,826	4,465
Furniture and Office Equipment [Member]
Property and equipment, gross	1,112	1,079
Leasehold Improvements [Member]
Property and equipment, gross	1,139	1,024
Trading Card Reference Library [Member]
Property and equipment, gross	52	52
Property and equipment, gross	11,364	10,332
Less accumulated depreciation and amortization	(8,591)	(8,006)
Property and equipment, net	$ 2,773	$ 2,326

Note 4 - Accrued Liabilities (D

Note 4 - Accrued Liabilities (Details Textual) - USD ($)	3 Months Ended	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2016	Mar. 31, 2015
Standard and Extended Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties	$ (656,000)	$ (656,000)

Note 4 - Accrued Liabilities 27

Note 4 - Accrued Liabilities (Details) - USD ($)	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014
Standard and Extended Product Warranty Accrual	$ 869,000	$ 1,492,000	$ 1,550,000	$ 1,569,000
Other	1,161,000	1,406,000
	$ 2,030,000	$ 2,898,000

Note 4 - Warranty Reserve Activ

Note 4 - Warranty Reserve Activity (Details) - USD ($)	3 Months Ended	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2016	Mar. 31, 2015
Warranty reserve beginning of period		$ 1,492,000	$ 1,569,000
Provision charged to cost of revenues		363,000	$ 380,000
Standard and Extended Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties	$ (656,000)	(656,000)
Payments		(330,000)	$ (399,000)
Warranty reserve, end of period	$ 869,000	$ 869,000	$ 1,550,000

Note 5 - Discontinued Operati29

Note 5 - Discontinued Operations (Details Textual) - Jewelry Businesses [Member]	Mar. 31, 2016USD ($)
Total Accrual Related to Remaining Lease Obligations	$ 934,000
Accrued Rent, Current	605,000
Accrued Rent, Noncurrent	$ 329,000

Note 6 - Income Taxes (Details

Note 6 - Income Taxes (Details Textual)	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Effective Income Tax Rate Reconciliation, Percent	39.00%	39.00%

Note 7 - Net Income Per Share31

Note 7 - Net Income Per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Stock Options and Unvested Restricted Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	24,000	0		0
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	279,000	262,000	264,000	259,000

Note 7 - Computation of Basic a

Note 7 - Computation of Basic and Diluted Net Loss Per Common Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Employee Stock Option [Member]
Dilutive effect of shares (in shares)				2
Restricted Stock [Member]
Dilutive effect of shares (in shares)	102	178	103	176
Weighted average shares outstanding: Basic (in shares)	8,447	8,353	8,441	8,339
Weighted average shares outstanding: Diluted (in shares)	8,549	8,531	8,544	8,517

Note 8 - Business Segments (Det

Note 8 - Business Segments (Details Textual)	9 Months Ended
	Mar. 31, 2016
Number of Reportable Segments	3

Note 8 - Segment Reporting Info

Note 8 - Segment Reporting Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Coins [Member] | Operating Segments [Member]
Net revenues	$ 11,992,000	$ 11,008,000	$ 29,590,000	$ 31,891,000
Depreciation and amortization expense	118,000	121,000	381,000	373,000
Allocated Share-based Compensation Expense	22,000	93,000	67,000	354,000
Operating income	4,516,000	3,879,000	10,117,000	10,515,000
Trading Cards and Autographs [Member] | Operating Segments [Member]
Net revenues	4,005,000	3,671,000	11,576,000	11,154,000
Depreciation and amortization expense	57,000	51,000	169,000	151,000
Allocated Share-based Compensation Expense	3,000	41,000	8,000	197,000
Operating income	906,000	708,000	2,422,000	2,235,000
Other Segments [Member] | Operating Segments [Member]
Net revenues	1,332,000	1,308,000	3,417,000	3,268,000
Depreciation and amortization expense	125,000	84,000	344,000	251,000
Allocated Share-based Compensation Expense	2,000	29,000	5,000	136,000
Operating income	62,000	394,000	57,000	805,000
Operating Segments [Member]
Depreciation and amortization expense	300,000	256,000	894,000	775,000
Allocated Share-based Compensation Expense	27,000	163,000	80,000	687,000
Operating income	5,484,000	4,981,000	12,596,000	13,555,000
Segment Reconciling Items [Member]
Depreciation and amortization expense	94,000	47,000	200,000	199,000
Allocated Share-based Compensation Expense	132,000	275,000	369,000	1,116,000
Operating income	(1,079,000)	(1,309,000)	(3,306,000)	(4,212,000)
Net revenues	17,329,000	15,987,000	44,583,000	46,313,000
Depreciation and amortization expense	394,000	303,000	1,094,000	974,000
Allocated Share-based Compensation Expense	159,000	438,000	449,000	1,803,000
Operating income	$ 4,405,000	$ 3,672,000	$ 9,290,000	$ 9,343,000

Note 8 - Reconciliation of Asse

Note 8 - Reconciliation of Assets to Consolidated from Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Operating Segments [Member] | Coins [Member]
Identifiable Assets:
Assets	$ 7,550	$ 5,961
Goodwill:
Goodwill	515	515
Operating Segments [Member] | Trading Cards and Autographs [Member]
Identifiable Assets:
Assets	1,415	1,436
Operating Segments [Member] | Other Segments [Member]
Identifiable Assets:
Assets	3,371	2,859
Goodwill:
Goodwill	1,568	1,568
Operating Segments [Member]
Identifiable Assets:
Assets	12,336	10,256
Segment Reconciling Items [Member]
Identifiable Assets:
Assets	17,494	21,946
Assets	29,830	32,202
Goodwill:
Goodwill	$ 2,083	$ 2,083

Note 9 - Related-party Transa36

Note 9 - Related-party Transactions (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Jul. 31, 2015	Jun. 30, 2015
Grading and Authentication Fees [Member] | Mr. Hall's Immediate Family Member [Member]
Related Party Transaction, Other Revenues from Transactions with Related Party	$ 552,000	$ 179,000	$ 1,557,000	$ 828,000
Accounts Receivable, Related Parties, Current	181,000		181,000			$ 145,000
Grading and Authentication Fees [Member] | Associate of Richard Kenneth Duncan Sr [Member]
Related Party Transaction, Other Revenues from Transactions with Related Party	378,000	$ 208,000	944,000	$ 748,000
Accounts Receivable, Related Parties, Current	$ 44,000		$ 44,000			$ 118,000
Associate of Richard Kenneth Duncan Sr [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners					5.00%

Note 11 - Subsequent Events (De

Note 11 - Subsequent Events (Details Textual) - $ / shares	Apr. 21, 2016	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Subsequent Event [Member]
Dividends Payable, Date Declared	Apr. 21, 2016
Common Stock, Dividends, Per Share, Declared	$ 0.35
Dividends Payable, Date to be Paid	May 27, 2016
Dividends Payable, Date of Record	May 18, 2016
Common Stock, Dividends, Per Share, Declared		$ 0.35	$ 0.35	$ 1.05	$ 1