Collectors Universe (CLCT) 10-Q 2 Nov 17 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document Information [Line Items]
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)		8,920,998
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2017	Jun. 30, 2017
Current assets:
Cash and cash equivalents	$ 10,207,000	$ 9,826,000
Accounts receivable, net of allowance of $78 and $77 at September 30, 2017 and June 30, 2017, respectively	3,682,000	3,615,000
Inventories, net	2,845,000	2,722,000
Prepaid expenses and other current assets	1,460,000	1,661,000
Total current assets	18,194,000	17,824,000
Property and equipment, net	6,401,000	3,163,000
Goodwill	2,083,000	2,083,000
Intangible assets, net	2,287,000	2,183,000
Deferred income tax assets	2,864,000	2,864,000
Other assets	393,000	413,000
Non-current assets of discontinued operations	79,000	79,000
Total assets	32,301,000	28,609,000
Current liabilities:
Accounts payable	3,048,000	2,660,000
Accrued liabilities	2,264,000	1,652,000
Accrued compensation and benefits	2,903,000	4,373,000
Income taxes payable	951,000	664,000
Deferred revenue	2,719,000	2,676,000
Current liabilities of discontinued operations	267,000	391,000
Total current liabilities	12,152,000	12,416,000
Deferred rent	2,349,000	276,000
Long Term Debt	1,000,000
Non-current liabilities of discontinued operations
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; 8,921 issued and outstanding at September 30, 2017 and June 30, 2017, respectively.	9,000	9,000
Additional paid-in capital	85,172,000	84,948,000
Accumulated deficit	(68,381,000)	(69,040,000)
Total stockholders’ equity	16,800,000	15,917,000
Total liabilities and stockholders’ equity	$ 32,301,000	$ 28,609,000

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
Accounts receivable, allowance	$ 78	$ 77
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	3,000	3,000
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	20,000
Common stock, shares issued (in shares)	8,921	8,921
Common stock, shares outstanding (in shares)	8,921	8,921

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Sep. 30, 2017	Sep. 30, 2016
Net revenues	[1]	$ 19,753	$ 15,748
Cost of revenues		7,450	6,138
Gross profit		12,303	9,610
Operating expenses:
Selling and marketing expenses		2,754	2,422
General and administrative expenses		5,027	4,414
Total operating expenses		7,781	6,836
Operating income		4,522	2,774
Interest income and other expense, net		31	24
Income before provision for income taxes		4,553	2,798
Provision for income taxes		919	1,210
Income from continuing operations		3,634	1,588
Loss from discontinued operations, net of income taxes		(1)	(7)
Net income		$ 3,633	$ 1,581
Net income per basic share
Income from continuing operations (in dollars per share)		$ 0.42	$ 0.19
Loss from discontinued operations (in dollars per share)
Net income per basic share (in dollars per share)		0.42	0.19
Net income per diluted share
Income from continuing operations (in dollars per share)		0.41	0.19
Loss from discontinued operations (in dollars per share)			(0.01)
Net income per diluted share (in dollars per share)		$ 0.41	$ 0.18
Weighted average shares outstanding
Basic (in shares)		8,573	8,474
Diluted (in shares)		8,765	8,561
Dividends declared per common share (in dollars per share)		$ 0.35	$ 0.35
[1]	Includes service revenues of $4.9 million generated from outside the United States in the three months ended September 30, 2017 as compared to $1.5 million in the three months ended September 30, 2016.

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 3,633,000	$ 1,581,000
Discontinued operations	1,000	7,000
Income from continuing operations	3,634,000	1,588,000
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Depreciation and amortization expense	442,000	420,000
Stock-based compensation expense	224,000	102,000
Provision for bad debts	(1,000)	11,000
Provision for inventory write-down		22,000
Provision for warranty	113,000	174,000
Gain on sale of property and equipment		5,000
Change in operating assets and liabilities:
Accounts receivable	(69,000)	408,000
Inventories	(123,000)	(257,000)
Prepaid expenses and other	201,000	55,000
Other assets	22,000	(57,000)
Accounts payable and accrued liabilities	885,000	(199,000)
Accrued compensation and benefits	(1,470,000)	(1,039,000)
Income taxes payable	287,000	840,000
Deferred revenue	43,000	(3,000)
Deferred rent	(33,000)	(20,000)
Net cash provided by operating activities of continuing operations	4,155,000	2,050,000
Net cash used in operating activities of discontinued businesses	(126,000)	(122,000)
Net cash provided by operating activities	4,029,000	1,928,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of business	4,000	5,000
Capital expenditures	(1,401,000)	(439,000)
Capitalized software	(274,000)	(172,000)
Patents and other intangibles	(4,000)	39,000
Net cash used in investing activities	(1,675,000)	(567,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under Term Loan	1,000,000
Dividends paid to common stockholders	(2,973,000)	(2,984,000)
Net cash used in financing activities	(1,973,000)	(2,984,000)
Net decrease in cash and cash equivalents	381,000	(1,623,000)
Cash and cash equivalents at beginning of period	9,826,000	11,967,000
Cash and cash equivalents at end of period	10,207,000	10,344,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid during the period	6,000
Income taxes paid during the period	632,000	369,000
Leasehold Improvements contributed by landlord (See note 3)	$ 2,106,000

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2017
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 September 30, 2017, 100% 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 as in effect in the United States of America (“GAAP”). Operating results for the three September 30, 2017 not may June 30, 2018 10 June 30, 2017, 2017 10 June 30, 2017 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 back to the customer, the time of shipment corresponds to the completion of our authentication and grading services. We recognize revenue from 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 one 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 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 and the provision or benefit for income taxes and related valuation allowances. 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 may not no September 30, 2017. Foreign Currency The Company has determined that the U.S. Dollar is the functional currency for its French branch office and its Hong Kong and China subsidiaries. Based on this determination, the Company’s foreign operations are re-measured by reflecting the financial results of such operations as if they had taken place within a U.S. dollar-based economic environment. Fixed assets and other non-monetary assets and liabilities are re-measured from foreign currencies to U.S. dollars at historical exchange rates; whereas cash, accounts receivable and other monetary assets and liabilities are re-measured at current exchange rates. Gains and losses resulting from those re-measurements, which are included in income for the current period, were not Stock-Based Compensation We recognize stock-based compensation attributable to service-based equity grants over the service period based on the grant date fair values of the awards. For performance-based equity grants with financial performance goals, we begin recognizing compensation expense based on their respective grant date fair values when it becomes probable that we will achieve the financial performance goals. Restricted Stock Awards As previously disclosed, in fiscal 2013, ’s Chief Executive Officer and Chief Financial Officer, as well as for other selected key management employees (collectively, “Participants”). At the time of the adoption of the LTIP, the Compensation Committee established a threshold annual financial performance goal, and four one six June 30, 2018 ( As previously reported in our 2017 10K, 2017, 2017. 50% 50% June 30, 2018. Stock-based compensation in the three September 30, 2017 $224,000 $102,000 three September 30, 2016. 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. At September 30, 2017, $10,207,000, $3,823,000 $6,384,000 $4,282,000 September 30, 2017 $3,899,000 Substantially all of our cash in the United States is deposited at one $5,239,000 September 30, 2017. Revolving Credit Line. As previously reported, in January 2017 three $10,000,000 may may one may not $10,000,000. may no may 30 2.25% 0.25% 0.0625% $4,000,000. September 30, 2017 $3,000,000 no September 30, 2017. September 30, 2017. Term Loan . September 15, 2017 five $3,500,000 first may $3,500,000. first two may 2.25% 0.25% 2.250% At the end of that first four 48 three the LIBOR Rate, (ii) the Prime Rate, or (iii) a fixed rate (the Fixed Rate"), in any case subject to an interest rate floor of 2.250% 20% first No The agreement governing the term loan contains two may not The Company plans to use borrowings under the term loan primarily to fund the Company’s share of the construction and related facility costs for its new corporate headquarters, as well as its moving costs, and lease exit costs for its existing corporate headquarters. The Company also may September 30, 2017, the Company had $1,000,000 Accounts Receivable. A substantial portion of accounts receivable are due from collectibles dealers. One individual customer’s accounts receivable balance exceeded 10% September 30, 2017 June 30, 2017. may $78,000 $77,000 September 30, 2017 June 30, 2017, no Coin Revenues . The authentication, grading and sales of collectible coins, related services and coin product sales accounted for approximately 68% three September 30, 2017, 63% three September 30, 2016. Customers. One of our customers, accounted for approximately 18% three September 30, 2017. no 10% three September 30, 2016. Inventories Our inventories consist primarily of (i) coin s 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 first 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 these costs on a straight-line basis over the estimated useful life of the software of three three September 30, 2017 $274,000 $172,000 three September 30, 2016. three September 30, 2017, $154,000 $104,000 three September 30, 2016. 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 not not fourth 2017, July 1, 2017. three September 30, 2017 $113,000 $174,000 three September 30, 2016. Dividends In accordance with the Company ’s current quarterly dividend policy, we paid quarterly cash dividends of $0.35 first 2018. may Recent Accounting Pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers July 2015, one first 2019 first 2018. March 2016, 2016 08, 606 May 2016, 2016 2016 12, 606 606. not first 2019 In February 2016, 2016 02 Accounting for Leases 12 not December 15, 2018, In March 2016, 2016 09 Compensation–Stock Compensation: Improvements to Employee Share-Based Payment Accounting July 1, 2017. three September 30, 2017 $832,000, In August 2016, No, 2016 15 Statement of Cash Flows-Classification of Certain Cash Receipts and Cash Payments. eight zero not December 15, 2017 In January 2017, 2017 04, Simplifying the Test for Goodwill Impairment 2 not December 9, 2019. not In May 2017, 2017 09 Compensation-Stock Compensation not not December 15, 2017. 1 not 2 not not

Note 2 - Inventories

Note 2 - Inventories	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	2. INVENTORIES Inventories consist of the following (in thousands): September 30 , June 30, 2017 201 7 Coins $ 464 $ 458 Other collectibles 326 391 Grading raw materials consumable inventory 2,837 2,850 3,627 3,699 Less inventory reserve (782 ) (977 ) Inventories, net $ 2,845 $ 2,722 The inventory reserve represents a valuation allowanc e 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. T he 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	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	3. Property and equipment consist of the following (in thousands): September 30 , June 30, 201 7 201 7 Coins grading reference sets $ 263 $ 263 Computer hardware and equipment 3,018 2,916 Computer software 1,478 1,276 Equipment 6,129 6,063 Furniture and office equipment 1,392 1,177 Leasehold improvements 4,238 1,316 Trading card reference library 52 52 16,570 13,063 Less accumulated depreciation and amortization (10,169 ) (9,900 ) Property and equipment, net $ 6,401 $ 3,163 Leasehold Improvements at September 30, 2017 $2,976,000 $2,106,000

Note 4 - Accrued Liabilities

Note 4 - Accrued Liabilities	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	4. ACCRUED LIABILITIES Accrued liabilities consist of the following (in thousands): September 30 , June 30, 2017 201 7 Warranty reserves $ 843 $ 834 Professional fees 162 84 Other 1,259 734 $ 2,264 $ 1,652 The following table presents the changes in the Company ’s warranty reserve during the three September 30, 2017 2016 Three Months Ended September 30 , 2017 2016 Warranty reserve beginning of period $ 834 $ 892 Provision charged to cost of revenues 113 174 Payments (104 ) (56 ) Warranty reserve, end of period $ 843 $ 1,010

Note 5 - Discontinued Operation

Note 5 - Discontinued Operations	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	5. DISCONTINUED OPERATIONS During fiscal 2009, Company’s jewelry and 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 September 30, 2017 June 30, 2017. The operating results of the discontinued businesses that are included in the accompanying Condensed Consolidated Statements of Operations were not The remaining lease obligation in connection with the fiscal 2009 $121,000 September 30, 2017, September 30, 2017.

Note 6 - Income Taxes

Note 6 - Income Taxes	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	6. In the three September 30, 2017 2016, 20% 43% three 38% three September 30, 2017 August 2017, three September 30, 2016

Note 7 - Net Income Per Share

Note 7 - Net Income Per Share	3 Months Ended
	Sep. 30, 2017
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 September 30, 2017 2016 Three Months Ended September 30, 2017 20 16 Weighted average shares outstanding: Basic 8,573 8,474 Dilutive effect of restricted shares 192 87 Weighted average shares outstanding: Diluted 8,765 8,561 A total of 3,000 three September 30, 2017 4,000 three September 30, 2016. In addition, in the three September 30, 2016, 262,000 not

Note 8 - Business Segments

Note 8 - Business Segments	3 Months Ended
	Sep. 30, 2017
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 s 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 certain operating expenses to each service segment based upon each segment’s estimated expense usage. The following tables set forth on a segment basis, including a reconciliation with the condensed consolidated financial statements, (i) revenues, (ii) depreciation and amortization, (iii) stock-based compensation expense, and (iv) operating income for the three September 30, 2017 2016, September 30, 2017 June 30, 2017, Three Months Ended September 30, 20 17 20 16 Net revenues : Coins (1) $ 13,449 $ 9,971 Trading cards and autographs 5,088 4,439 Other 1,216 1,338 Consolidated total revenue $ 19,753 $ 15,748 D epreciation and amortization: Coins $ 176 $ 137 Trading cards and autographs 60 56 Other 134 150 Total 370 343 Unallocated depreciation and amortization 72 77 Consolidated depreciation and amortization $ 442 $ 420 Stock-based compensation : Coins $ 57 $ 11 Trading cards and autographs 16 3 Other 11 2 Total 84 16 Unallocated stock-based compensation 140 86 Consolidated stock-based compensation $ 224 $ 102 Operating income : Coins $ 4,527 $ 2,755 Trading cards and autographs 1,376 1,081 Other 265 295 Total 6,168 4,131 Unallocated operating expenses (1,646 ) (1,357 ) Consolidated operating income $ 4,522 $ 2,774 ( 1 Includes service revenues of $4.9 three September 30, 2017 $1.5 three September 30, 2016. September 30 , June 30, 2017 201 7 Identifiable Assets: Coins $ 9,369 $ 9,128 Trading cards and autographs 1,617 1,547 Other 3,035 3,198 Total 14,021 13,873 Unallocated assets 18,280 14,736 Consolidated assets $ 32,301 $ 28,609 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	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	9. During the three September 30, 2017, $804,000 $466,000 three September 30, 2016. September 30, 2017, $206,000 $268,000 June 30, 2017. An associate of Richard Kenneth Duncan Sr., who as of July 2015 5% $202,000 three September 30, 2017 $239,000, three 2017. September 30, 2017, $37,000 $50,000 June 30, 2017. 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	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Contingencies Disclosure [Text Block]	10. 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

Note 11 - Subsequent Events

Note 11 - Subsequent Events	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	11. On October 24, 2017, second $0.35 November 24, 2017 November 15, 2017.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2017
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 September 30, 2017, 100%
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 as in effect in the United States of America (“GAAP”). Operating results for the three September 30, 2017 not may June 30, 2018 10 June 30, 2017, 2017 10 June 30, 2017
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 back to the customer, the time of shipment corresponds to the completion of our authentication and grading services. We recognize revenue from 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 one 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
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 and the provision or benefit for income taxes and related valuation allowances.
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 may not no September 30, 2017.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency The Company has determined that the U.S. Dollar is the functional currency for its French branch office and its Hong Kong and China subsidiaries. Based on this determination, the Company’s foreign operations are re-measured by reflecting the financial results of such operations as if they had taken place within a U.S. dollar-based economic environment. Fixed assets and other non-monetary assets and liabilities are re-measured from foreign currencies to U.S. dollars at historical exchange rates; whereas cash, accounts receivable and other monetary assets and liabilities are re-measured at current exchange rates. Gains and losses resulting from those re-measurements, which are included in income for the current period, were not
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 values of the awards. For performance-based equity grants with financial performance goals, we begin recognizing compensation expense based on their respective grant date fair values when it becomes probable that we will achieve the financial performance goals. Restricted Stock Awards As previously disclosed, in fiscal 2013, ’s Chief Executive Officer and Chief Financial Officer, as well as for other selected key management employees (collectively, “Participants”). At the time of the adoption of the LTIP, the Compensation Committee established a threshold annual financial performance goal, and four one six June 30, 2018 ( As previously reported in our 2017 10K, 2017, 2017. 50% 50% June 30, 2018. Stock-based compensation in the three September 30, 2017 $224,000 $102,000 three September 30, 2016.
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. At September 30, 2017, $10,207,000, $3,823,000 $6,384,000 $4,282,000 September 30, 2017 $3,899,000 Substantially all of our cash in the United States is deposited at one $5,239,000 September 30, 2017. Revolving Credit Line. As previously reported, in January 2017 three $10,000,000 may may one may not $10,000,000. may no may 30 2.25% 0.25% 0.0625% $4,000,000. September 30, 2017 $3,000,000 no September 30, 2017. September 30, 2017. Term Loan . September 15, 2017 five $3,500,000 first may $3,500,000. first two may 2.25% 0.25% 2.250% At the end of that first four 48 three the LIBOR Rate, (ii) the Prime Rate, or (iii) a fixed rate (the Fixed Rate"), in any case subject to an interest rate floor of 2.250% 20% first No The agreement governing the term loan contains two may not The Company plans to use borrowings under the term loan primarily to fund the Company’s share of the construction and related facility costs for its new corporate headquarters, as well as its moving costs, and lease exit costs for its existing corporate headquarters. The Company also may September 30, 2017, the Company had $1,000,000 Accounts Receivable. A substantial portion of accounts receivable are due from collectibles dealers. One individual customer’s accounts receivable balance exceeded 10% September 30, 2017 June 30, 2017. may $78,000 $77,000 September 30, 2017 June 30, 2017, no Coin Revenues . The authentication, grading and sales of collectible coins, related services and coin product sales accounted for approximately 68% three September 30, 2017, 63% three September 30, 2016. Customers. One of our customers, accounted for approximately 18% three September 30, 2017. no 10% three September 30, 2016.
Inventory, Policy [Policy Text Block]	Inventories Our inventories consist primarily of (i) coin s 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 first
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 these costs on a straight-line basis over the estimated useful life of the software of three three September 30, 2017 $274,000 $172,000 three September 30, 2016. three September 30, 2017, $154,000 $104,000 three September 30, 2016.
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 not not fourth 2017, July 1, 2017. three September 30, 2017 $113,000 $174,000 three September 30, 2016.
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 first 2018. may
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers July 2015, one first 2019 first 2018. March 2016, 2016 08, 606 May 2016, 2016 2016 12, 606 606. not first 2019 In February 2016, 2016 02 Accounting for Leases 12 not December 15, 2018, In March 2016, 2016 09 Compensation–Stock Compensation: Improvements to Employee Share-Based Payment Accounting July 1, 2017. three September 30, 2017 $832,000, In August 2016, No, 2016 15 Statement of Cash Flows-Classification of Certain Cash Receipts and Cash Payments. eight zero not December 15, 2017 In January 2017, 2017 04, Simplifying the Test for Goodwill Impairment 2 not December 9, 2019. not In May 2017, 2017 09 Compensation-Stock Compensation not not December 15, 2017. 1 not 2 not not

Note 2 - Inventories (Tables)

Note 2 - Inventories (Tables)	3 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30 , June 30, 2017 201 7 Coins $ 464 $ 458 Other collectibles 326 391 Grading raw materials consumable inventory 2,837 2,850 3,627 3,699 Less inventory reserve (782 ) (977 ) Inventories, net $ 2,845 $ 2,722

Note 3 - Property and Equipme19

Note 3 - Property and Equipment (Tables)	3 Months Ended
	Sep. 30, 2017
Notes Tables
Property, Plant and Equipment [Table Text Block]	September 30 , June 30, 201 7 201 7 Coins grading reference sets $ 263 $ 263 Computer hardware and equipment 3,018 2,916 Computer software 1,478 1,276 Equipment 6,129 6,063 Furniture and office equipment 1,392 1,177 Leasehold improvements 4,238 1,316 Trading card reference library 52 52 16,570 13,063 Less accumulated depreciation and amortization (10,169 ) (9,900 ) Property and equipment, net $ 6,401 $ 3,163

Note 4 - Accrued Liabilities (T

Note 4 - Accrued Liabilities (Tables)	3 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	September 30 , June 30, 2017 201 7 Warranty reserves $ 843 $ 834 Professional fees 162 84 Other 1,259 734 $ 2,264 $ 1,652
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended September 30 , 2017 2016 Warranty reserve beginning of period $ 834 $ 892 Provision charged to cost of revenues 113 174 Payments (104 ) (56 ) Warranty reserve, end of period $ 843 $ 1,010

Note 7 - Net Income Per Share (

Note 7 - Net Income Per Share (Tables)	3 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, 2017 20 16 Weighted average shares outstanding: Basic 8,573 8,474 Dilutive effect of restricted shares 192 87 Weighted average shares outstanding: Diluted 8,765 8,561

Note 8 - Business Segments (Tab

Note 8 - Business Segments (Tables)	3 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30, 20 17 20 16 Net revenues : Coins (1) $ 13,449 $ 9,971 Trading cards and autographs 5,088 4,439 Other 1,216 1,338 Consolidated total revenue $ 19,753 $ 15,748 D epreciation and amortization: Coins $ 176 $ 137 Trading cards and autographs 60 56 Other 134 150 Total 370 343 Unallocated depreciation and amortization 72 77 Consolidated depreciation and amortization $ 442 $ 420 Stock-based compensation : Coins $ 57 $ 11 Trading cards and autographs 16 3 Other 11 2 Total 84 16 Unallocated stock-based compensation 140 86 Consolidated stock-based compensation $ 224 $ 102 Operating income : Coins $ 4,527 $ 2,755 Trading cards and autographs 1,376 1,081 Other 265 295 Total 6,168 4,131 Unallocated operating expenses (1,646 ) (1,357 ) Consolidated operating income $ 4,522 $ 2,774
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	September 30 , June 30, 2017 201 7 Identifiable Assets: Coins $ 9,369 $ 9,128 Trading cards and autographs 1,617 1,547 Other 3,035 3,198 Total 14,021 13,873 Unallocated assets 18,280 14,736 Consolidated assets $ 32,301 $ 28,609 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)	Sep. 15, 2018	Sep. 15, 2017USD ($)	Jan. 10, 2017USD ($)	Sep. 30, 2017USD ($)$ / shares	Sep. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						50.00%
Allocated Share-based Compensation Expense				$ 224,000	$ 102,000
Cash and Cash Equivalents, at Carrying Value				10,207,000	10,344,000	$ 9,826,000	$ 11,967,000
Money Market Funds, at Carrying Value				3,823,000
Other Cash Equivalents, at Carrying Value				6,384,000
Cash				4,282,000
Cash, Uninsured Amount				5,239,000
Allowance for Doubtful Accounts Receivable, Current				78,000		$ 77,000
Capitalized Computer Software, Additions				274,000	172,000
Capitalized Computer Software, Amortization				154,000	104,000
Product Warranty Expense				$ 113,000	174,000
Common Stock, Dividends, Per Share, Cash Paid | $ / shares				$ 0.35
Income Tax Expense (Benefit)				$ 919,000	$ 1,210,000
Impairment of Long-Lived Assets Held-for-use				0
Goodwill and Intangible Asset Impairment				0
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)				$ (832,000)
Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Asset, Useful Life				3 years
Sales Revenue, Services, Net [Member] | Product Concentration Risk [Member] | Coins [Member]
Concentration Risk, Percentage				68.00%	63.00%
Sales Revenue, Services, Net [Member] | Customer Concentration Risk [Member] | One Customer [Member]
Concentration Risk, Percentage				18.00%
Unsecured Debt [Member] | CB&T [Member]
Debt Instrument, Term		5 years
Long-term Debt		$ 3,500,000,000,000		$ 1,000,000,000,000
Revolving Credit Facility [Member] | California Bank and Trust [Member]
Debt Instrument, Term			3 years
Line of Credit Facility, Maximum Borrowing Capacity			$ 10,000,000,000,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.0625%
Line of Credit Facility, Average Outstanding Amount			$ 4,000,000,000,000
Proceeds from Lines of Credit				3,000,000
Long-term Line of Credit				0
Revolving Credit Facility [Member] | California Bank and Trust [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate			2.25%
Revolving Credit Facility [Member] | California Bank and Trust [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			(0.25%)
Line of Credit [Member] | Unsecured Debt [Member] | CB&T [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 1,000,000
Line of Credit [Member] | Unsecured Debt [Member] | CB&T [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage		2.25%
Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | Unsecured Debt [Member] | CB&T [Member]
Debt Instrument, Basis Spread on Variable Rate		2.25%
Line of Credit [Member] | Prime Rate [Member] | Unsecured Debt [Member] | CB&T [Member]
Debt Instrument, Basis Spread on Variable Rate		(0.25%)
Term Loan [Member] | Unsecured Debt [Member] | CB&T [Member] | Scenario, Forecast [Member]
Debt Instrument, Term	4 years
Debt Instrument, Number of Payments	48
Prepayment Penalty, Percentage of Principal Amount Threshold	20.00%
Term Loan [Member] | Unsecured Debt [Member] | CB&T [Member] | Minimum [Member] | Scenario, Forecast [Member]
Debt Instrument, Interest Rate, Stated Percentage	2.25%
CHINA
Cash				$ 3,899,000

Note 2 - Inventories - Inventor

Note 2 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
Inventory, gross	$ 3,627	$ 3,699
Less inventory reserve	(782)	(977)
Inventories, net	2,845	2,722
Coins [Member]
Inventory, gross	464	458
Other Collectibles [Member]
Inventory, gross	326	391
Grading Raw Materials Consumable [Member]
Inventory, gross	$ 2,837	$ 2,850

Note 3 - Property and Equipme25

Note 3 - Property and Equipment (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017
Leasehold Improvements Contributed by Landlord	$ 2,106,000
New Corporate Headquarter [Member]
Leasehold Improvements, Gross	$ 2,976,000		$ 2,976,000
Leasehold Improvements Contributed by Landlord			$ 2,106,000

Note 3 - Property and Equipme26

Note 3 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
Coins grading reference sets	$ 16,570	$ 13,063
Less accumulated depreciation and amortization	(10,169)	(9,900)
Property and equipment, net	6,401	3,163
Coins and Stamp Grading Reference Sets [Member]
Coins grading reference sets	263	263
Computer Equipment [Member]
Coins grading reference sets	3,018	2,916
Computer Software [Member]
Coins grading reference sets	1,478	1,276
Equipment [Member]
Coins grading reference sets	6,129	6,063
Furniture and Office Equipment [Member]
Coins grading reference sets	1,392	1,177
Leasehold Improvements [Member]
Coins grading reference sets	4,238	1,316
Trading Card Reference Library [Member]
Coins grading reference sets	$ 52	$ 52

Note 4 - Accrued Liabilities -

Note 4 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
Warranty reserves	$ 843	$ 834
Professional fees	162	84
Other	1,259	734
	$ 2,264	$ 1,652

Note 4 - Accrued Liabilities 28

Note 4 - Accrued Liabilities - Warranty Reserve Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Warranty reserve beginning of period	$ 834	$ 892
Provision charged to cost of revenues	113	174
Payments	(104)	(56)
Warranty reserve, end of period	$ 843	$ 1,010

Note 5 - Discontinued Operati29

Note 5 - Discontinued Operations (Details Textual) - Jewelry Businesses [Member]	Sep. 30, 2017USD ($)
Total Accrual Related to Remaining Lease Obligations	$ 121,000
Accrued Rent, Current	$ 121,000

Note 6 - Income Taxes (Details

Note 6 - Income Taxes (Details Textual)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Effective Income Tax Rate Reconciliation, Percent	20.00%	43.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	38.00%	38.00%

Note 7 - Net Income Per Share31

Note 7 - Net Income Per Share (Details Textual) - shares	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Stock Options and Unvested Restricted Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,000	4,000
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		262,000

Note 7 - Net Income Per Share -

Note 7 - Net Income Per Share - Computation of Basic and Diluted Net Loss Per Common Share (Details) - shares shares in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Weighted average shares outstanding: Basic (in shares)	8,573	8,474
Weighted average shares outstanding: Diluted (in shares)	8,765	8,561
Restricted Stock [Member]
Dilutive effect of restricted shares (in shares)	192	87

Note 8 - Business Segments (Det

Note 8 - Business Segments (Details Textual)		3 Months Ended
		Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Number of Reportable Segments		3
Revenue, Net	[1]	$ 19,753,000	$ 15,748,000
Outside the United States[Member]
Revenue, Net		$ 4.90	$ 1.50
[1]	Includes service revenues of $4.9 million generated from outside the United States in the three months ended September 30, 2017 as compared to $1.5 million in the three months ended September 30, 2016.

Note 8 - Business Segments - Se

Note 8 - Business Segments - Segment Reporting Information (Details) - USD ($)		3 Months Ended
		Sep. 30, 2017	Sep. 30, 2016
Net revenues	[1]	$ 19,753,000	$ 15,748,000
Depreciation and amortization		442,000	420,000
Stock-based compensation		224,000	102,000
Operating income		4,522,000	2,774,000
Operating Segments [Member]
Depreciation and amortization		370,000	343,000
Stock-based compensation		84,000	16,000
Operating income		6,168,000	4,131,000
Segment Reconciling Items [Member]
Depreciation and amortization		72,000	77,000
Stock-based compensation		140,000	86,000
Operating income		(1,646,000)	(1,357,000)
Coins [Member] | Operating Segments [Member]
Net revenues	[1]	13,449,000	9,971,000
Depreciation and amortization		176,000	137,000
Stock-based compensation		57,000	11,000
Operating income		4,527,000	2,755,000
Trading Cards and Autographs [Member] | Operating Segments [Member]
Net revenues	[1]	5,088,000	4,439,000
Depreciation and amortization		60,000	56,000
Stock-based compensation		16,000	3,000
Operating income		1,376,000	1,081,000
Other Segments [Member] | Operating Segments [Member]
Net revenues	[1]	1,216,000	1,338,000
Depreciation and amortization		134,000	150,000
Stock-based compensation		11,000	2,000
Operating income		$ 265,000	$ 295,000
[1]	Includes service revenues of $4.9 million generated from outside the United States in the three months ended September 30, 2017 as compared to $1.5 million in the three months ended September 30, 2016.

Note 8 - Business Segments - Re

Note 8 - Business Segments - Reconciliation of Assets to Consolidated From Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
Assets	$ 32,301	$ 28,609
Goodwill	2,083	2,083
Operating Segments [Member]
Assets	14,021	13,873
Operating Segments [Member] | Coins [Member]
Assets	9,369	9,128
Goodwill	515	515
Operating Segments [Member] | Trading Cards and Autographs [Member]
Assets	1,617	1,547
Operating Segments [Member] | Other Segments [Member]
Assets	3,035	3,198
Goodwill	1,568	1,568
Segment Reconciling Items [Member]
Assets	$ 18,280	$ 14,736

Note 9 - Related-party Transa36

Note 9 - Related-party Transactions (Details Textual) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017	Jul. 31, 2015
Mr. Hall's Immediate Family Member [Member] | Grading and Authentication Fees [Member]
Related Party Transaction, Other Revenues from Transactions with Related Party	$ 804,000	$ 466,000
Accounts Receivable, Related Parties, Current	206,000		$ 268,000
Associate of Richard Kenneth Duncan Sr [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners				5.00%
Associate of Richard Kenneth Duncan Sr [Member] | Grading and Authentication Fees [Member]
Related Party Transaction, Other Revenues from Transactions with Related Party	202,000	$ 239,000
Accounts Receivable, Related Parties, Current	$ 37,000		$ 50,000

Note 11 - Subsequent Events (De

Note 11 - Subsequent Events (Details Textual) - $ / shares	Oct. 24, 2017	Sep. 30, 2017	Sep. 30, 2016
Common Stock, Dividends, Per Share, Declared		$ 0.35	$ 0.35
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared	$ 0.35