Collectors Universe (CLCT) 10-Q 1 Nov 18 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Sep. 30, 2018	Oct. 31, 2018
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 Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding (in shares)		9,060,382
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2018	Jun. 30, 2018
Current assets:
Cash and cash equivalents	$ 12,194,000	$ 10,581,000
Accounts receivable, net of allowance of $69 and $80 at September 30, 2018 and June 30, 2018, respectively	2,334,000	2,608,000
Inventories, net	2,512,000	2,579,000
Prepaid expenses and other current assets	1,621,000	1,965,000
Total current assets	18,661,000	17,733,000
Property and equipment, net	8,190,000	8,378,000
Goodwill	2,083,000	2,083,000
Intangible assets, net	2,183,000	2,319,000
Deferred income tax assets	1,223,000	1,222,000
Other assets	464,000	479,000
Total assets	32,804,000	32,214,000
Current liabilities:
Accounts payable	2,329,000	2,487,000
Accrued liabilities	1,921,000	1,998,000
Accrued compensation and benefits	2,668,000	3,401,000
Current portion of long-term debt	750,000	562,000
Income taxes payable	1,005,000	312,000
Deferred revenue	2,998,000	3,213,000
Total current liabilities	11,671,000	11,973,000
Deferred rent	3,785,000	3,535,000
Long Term Debt	2,250,000	2,438,000
Commitments and contingencies (Note 9)
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; 9,060 and 9,015 issued and outstanding at September 30, and June 30, 2018, respectively.	9,000	9,000
Additional paid-in capital	86,632,000	86,369,000
Accumulated deficit	(71,543,000)	(72,110,000)
Total stockholders’ equity	15,098,000	14,268,000
Total liabilities and stockholders’ equity	$ 32,804,000	$ 32,214,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands	Sep. 30, 2018	Jun. 30, 2018
Accounts receivable, allowance	$ 69,000	$ 80,000
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)	9,060	9,015
Common stock, shares outstanding (in shares)	9,060	9,015

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Net revenues	$ 17,495	$ 19,753
Cost of revenues	7,202	7,450
Gross profit	10,293	12,303
Operating expenses:
Selling and marketing expenses	2,808	2,754
General and administrative expenses	4,658	5,027
Total operating expenses	7,466	7,781
Operating income	2,827	4,522
Interest income and other expense, net	3	31
Income before provision for income taxes	2,830	4,553
Provision for income taxes	699	919
Income from continuing operations	2,131	3,634
Loss from discontinued operations, net of income taxes		(1)
Net income	$ 2,131	$ 3,633
Net income per basic share
Income from continuing operations, basic (in dollars per share)	$ 0.24	$ 0.42
Loss from discontinued operations, basic (in dollars per share)
Net income per basic share (in dollars per share)	0.24	0.42
Net income per diluted share
Income from continuing operations, diluted (in dollars per share)	0.24	0.41
Loss from discontinued operations, diluted (in dollars per share)
Net income per diluted share (in dollars per share)	$ 0.24	$ 0.41
Weighted average shares outstanding:
Basic (in shares)	8,933	8,573
Diluted (in shares)	8,962	8,765
Dividends declared per common share (in dollars per share)	$ 0.175	$ 0.35

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 2,131,000	$ 3,633,000
Discontinued operations		1,000
Income from continuing operations	2,131,000	3,634,000
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Depreciation and amortization expense	742,000	442,000
Stock-based compensation expense	263,000	224,000
Provision for bad debts	(6,000)	(1,000)
Provision for inventory write-down	4,000
Provision for warranty	112,000	113,000
Change in operating assets and liabilities:
Accounts receivable	277,000	(69,000)
Inventories	64,000	(123,000)
Prepaid expenses and other	418,000	201,000
Other assets	14,000	22,000
Accounts payable and accrued liabilities	(126,000)	885,000
Accrued compensation and benefits	(731,000)	(1,470,000)
Income taxes payable	693,000	287,000
Deferred revenue	(215,000)	43,000
Deferred rent	250,000	(33,000)
Net cash provided by operating activities of continuing operations	3,890,000	4,155,000
Net cash used in operating activities of discontinued businesses		(126,000)
Net cash provided by operating activities	3,890,000	4,029,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(297,000)	(1,401,000)
Capitalized software	(194,000)	(274,000)
Proceeds from sale of business		4,000
Patents and other intangibles		(4,000)
Net cash used in investing activities	(491,000)	(1,675,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under Term Loan		1,000,000
Dividends paid to common stockholders	(1,786,000)	(2,973,000)
Net cash used in financing activities	(1,786,000)	(1,973,000)
Net decrease in cash and cash equivalents	1,613,000	381,000
Cash and cash equivalents at beginning of period	10,581,000	9,826,000
Cash and cash equivalents at end of period	12,194,000	10,207,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid during the period	37,000	6,000
Income taxes paid during the period	6,000	632,000
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, 2018
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, 2018, 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, 2018 not may June 30, 2019 10 June 30, 2018, 2018 10 June 30, 2018 Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. Revenue Recognition Effective, July 1, 2018, 606, 606 606, five five 1 2 3 4 5 606 606 not Our primary source of revenue is the authentication and grading of collectibles, which represented about 88% 2018 2017. 5% 606 Authentication and Grading Revenues: Warranty C osts Collectors Club Revenues: 606 Certified Coin Exchanges Subscription Revenues: Expos Trade Show Revenue: Advertising and Commission Revenues: 30 third Coin Sales: not Contract Balances. three September 30, 2018, $1,596,000 $3,213,000 June 30, 2018. Shipping and Handling Costs Shipping and handling costs incurred to process and return customer collectibles submitted to us for grading or authentication are recorded as costs of revenues, net of amounts received from customers, in accordance with the guidance for Principals versus Agents as set out in ASC 606. 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, 2018. Foreign Currency The Company has determined that the U.S. Dollar is the functional currency for its French branch office and its Hong Kong, Japan 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 : Long Term Incentive Plan (“LTIP”) Retention Restricted Shares To create incentives for the Participants to remain in the Company's service, service-contingent restricted shares were granted to the Participants as follows: Annual Grants 45,199 21,090 September 2018 December 2017, three One Time Grant 21,090 December 2017, two 10,545 June 30, 2018 June 30, 2019, If a Participant's continuous service with the Company ceases, for any reason whatsoever, including a termination of the Participant’s employment with or without cause, prior to any vesting date or dates, the then unvested Retention Restricted Shares will be forfeited. Assuming continuous service for all Participants, stock-based compensation expense of $599,000 $1,276,000 45,199 42,180 September 2018 December 2017, $661,000 September 30, 2018. P erformance Restricted Share s (“PSUs”) To create incentives for the Participants to drive significant improvements in the Company’s operating results during the three June 30, 2020 December 2017, 42,180 The vesting of the 42,180 June 30, 2020. The following table sets forth the percentages of the respective numbers of PSUs granted to each of the Participants that will vest on June 30, 2020 June 30, 2020: Financial Performance Goals Threshold Target Maximum Percent of PSUs Earned 10 % 50 % 100 % All of the PSUs will be forfeited if neither the threshold CARGR goal nor the threshold Operating Margin goal is achieved. Also, if a Participant fails to remain in the Company’s continuous service through June 30, 2020, Assuming the maximum performance goals are achieved and continuous service by the Participants, $1,276,000 June 30, 2020. Stock-based compensation expense for the 42,180 no 42,180 September 30, 2018, not September 30, 2018, 2020. Total stock-based compensation in the three September 30, 2018 $263,000 $224,000 three September 30, 2017. 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. September 30, 2018, $12,194,000, $7,136,000 $5,058,000 $1,724,000 September 30, 2018 $1,122,000 Substantially all of our cash in the United States is deposited at one $9,493,000 September 30, 2018. Revolving Credit Line. 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. no September 30, 2018. September 30, 2018. Term Loan . September 15, 2017 five $3,500,000 first may $3,500,000. first The Company used the borrowings under this loan of $3,000,000 In September 2018, four $3,000,000. 48 $62,500 October 2018. No 90 The agreement governing the term loan contains two may not At September 30, 2018, $3,000,000 $750,000 $2,250,000 September 30, 2018. September 30, 2018. Accounts Receivable. 10% September 30, 2018 June 30, 2018. may $69,000 $80,000 September 30, 2018 June 30, 2018, no Coin Revenues 58% three September 30, 2018, 68% three September 30, 2017. Customers. five 11% three September 30, 2018 29% 18% 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 net realizable 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, 2018 $194,000 $274,000 three September 30, 2017. three September 30, 2018, $237,000 $154,000 three September 30, 2017. Warranty Costs We provide 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 three September 30, 2018 $112,000 $113,000 three September 30, 2017. Dividends In accordance with the Company’s current quarterly dividend policy, we paid quarterly cash dividends of $0.175 first 2019 $0.35 three September 30, 2018. may Recent Accounting Pronouncements In February 2016, 2016 02 Accounting for Leases 12 not December 15, 2018,

Note 2 - Inventories

Note 2 - Inventories	3 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
Inventory Disclosure [Text Block]	2. INVENTORIES Inventories consist of the following (in thousands): September 30 , June 30, 2018 201 8 Coins $ 496 $ 490 Grading raw materials consumable inventory 3,233 3,303 3,729 3,793 Less inventory reserve (1,217 ) (1,214 ) Inventories, net $ 2,512 $ 2,579 The inventory reserve represents a valuation allowance on certain items of our coins inventory based on the current market value of those coins and for our consumables inventories, based upon our review of the expected future usage of that inventory. Estimated market 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, 2018
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	3. PROPERTY AND EQUIPMENT Property and equipment consist of the following (in thousands): September 30 , June 30, 201 8 201 8 Coins grading reference sets $ 263 $ 263 Computer hardware and equipment 2,181 2,075 Computer software 1,552 1,531 Equipment 4,828 4,661 Furniture and office equipment 925 925 Leasehold improvements 4,711 4,711 Trading card reference library 52 52 14,512 14,218 Less accumulated depreciation and amortization (6,322 ) (5,840 ) Property and equipment, net $ 8,190 $ 8,378 Leasehold improvements at September 30, 2018 $4,144,000 $2,949,000

Note 4 - Accrued Liabilities

Note 4 - Accrued Liabilities	3 Months Ended
	Sep. 30, 2018
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, 2018 201 8 Warranty reserves $ 944 $ 862 Professional fees 194 151 Other 783 985 $ 1,921 $ 1,998 The following table presents the changes in the Company’s warranty reserve during the three September 30, 2018 2017 Three Months Ended September 30 , 2018 2017 Warranty reserve beginning of period $ 862 $ 834 Provision charged to cost of revenues 112 113 Payments (30 ) (104 ) Warranty reserve, end of period $ 944 $ 843

Note 5 - Income Taxes

Note 5 - Income Taxes	3 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	5. INCOME TAXES The income tax provisions in the three September 30, 2018 2017, 25% 20%, 25% three September 30, 2018, 21% December 2017. 20% three September 30, 2017 35%. three June 2018 August 2017,

Note 6 - Net Income Per Share

Note 6 - Net Income Per Share	3 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	6. NET INCOME PER SHARE The following table presents the changes in the Company’s weighted average shares outstanding for the three September 30, 2018 2017 Three Months Ended September 30, 2018 2017 Weighted average shares outstanding: Basic 8,933 8,573 Dilutive effect of restricted shares 29 192 Weighted average shares outstanding: Diluted 8,962 8,765 A total of 31,000 three September 30, 2018 3,000 three September 30, 2017. In addition, in the three September 30, 2018, 40,000 not

Note 7 - Business Segments

Note 7 - Business Segments	3 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	7. 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 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, 2018 2017, September 30, 2018 June 30, 2018, Three Months Ended September 30, 20 18 20 17 Net revenues: Coins (1) $ 10,121 $ 13,449 Trading cards and autographs 6,100 5,088 Other 1,274 1,216 Consolidated total revenue $ 17,495 $ 19,753 Depreciation and amortization: Coins $ 324 $ 176 Trading cards and autographs 141 60 Other 148 134 Total 613 370 Unallocated depreciation and amortization 129 72 Consolidated depreciation and amortization $ 742 $ 442 Stock-based compensation: Coins $ 65 $ 57 Trading cards and autographs 4 16 Other 7 11 Total 76 84 Unallocated stock-based compensation 187 140 Consolidated stock-based compensation $ 263 $ 224 Operating income: Coins $ 2,329 $ 4,527 Trading cards and autographs 1,563 1,376 Other 343 265 Total 4,235 6,168 Unallocated operating expenses (1,408 ) (1,646 ) Consolidated operating income $ 2,827 $ 4,522 ( 1 $1.7 three September 30, 2018 $4.9 three September 30, 2017. September 30 , June 30, 2018 201 8 Identifiable Assets: Coins $ 10,219 $ 10,905 Trading cards and autographs 3,854 3,877 Other 2,754 2,944 Total 16,827 17,726 Unallocated assets 15,977 14,488 Consolidated assets $ 32,804 $ 32,214 Goodwill: Coins $ 515 $ 515 Other 1,568 1,568 Consolidated goodwill $ 2,083 $ 2,083

Note 8 - Related-party Transact

Note 8 - Related-party Transactions	3 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	8. RELATED-PARTY TRANSACTIONS During the three September 30, 2018, not $228,000 $804,000 three September 30, 2017. September 30, 2018, $52,000 $127,000 June 30, 2018. The grading fees charged by the Company to this individual was comparable to the fees charged by the Company in the ordinary course of business to unaffiliated customers for similar services.

Note 9 - Contingencies

Note 9 - Contingencies	3 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
Contingencies Disclosure [Text Block]	9. 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 establish accruals for lawsuits or disputes when it is determined that a loss is both probable and can be reasonably estimated. Accruals can be adjusted from time to time, in light of additional information. We believe that none

Note 10 - Subsequent Events

Note 10 - Subsequent Events	3 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
Subsequent Events [Text Block]	10. SUBSEQUENT EVENTS On October 23, 2018 second $0.175 November 30, 2018 November 16, 2018

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2018
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, 2018, 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, 2018 not may June 30, 2019 10 June 30, 2018, 2018 10 June 30, 2018
Reclassification, Policy [Policy Text Block]	Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Effective, July 1, 2018, 606, 606 606, five five 1 2 3 4 5 606 606 not Our primary source of revenue is the authentication and grading of collectibles, which represented about 88% 2018 2017. 5% 606 Authentication and Grading Revenues: Warranty C osts Collectors Club Revenues: 606 Certified Coin Exchanges Subscription Revenues: Expos Trade Show Revenue: Advertising and Commission Revenues: 30 third Coin Sales: not Contract Balances. three September 30, 2018, $1,596,000 $3,213,000 June 30, 2018.
Shipping and Handling Cost, Policy [Policy Text Block]	Shipping and Handling Costs Shipping and handling costs incurred to process and return customer collectibles submitted to us for grading or authentication are recorded as costs of revenues, net of amounts received from customers, in accordance with the guidance for Principals versus Agents as set out in ASC 606.
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, 2018.
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, Japan 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 : Long Term Incentive Plan (“LTIP”) Retention Restricted Shares To create incentives for the Participants to remain in the Company's service, service-contingent restricted shares were granted to the Participants as follows: Annual Grants 45,199 21,090 September 2018 December 2017, three One Time Grant 21,090 December 2017, two 10,545 June 30, 2018 June 30, 2019, If a Participant's continuous service with the Company ceases, for any reason whatsoever, including a termination of the Participant’s employment with or without cause, prior to any vesting date or dates, the then unvested Retention Restricted Shares will be forfeited. Assuming continuous service for all Participants, stock-based compensation expense of $599,000 $1,276,000 45,199 42,180 September 2018 December 2017, $661,000 September 30, 2018. P erformance Restricted Share s (“PSUs”) To create incentives for the Participants to drive significant improvements in the Company’s operating results during the three June 30, 2020 December 2017, 42,180 The vesting of the 42,180 June 30, 2020. The following table sets forth the percentages of the respective numbers of PSUs granted to each of the Participants that will vest on June 30, 2020 June 30, 2020: Financial Performance Goals Threshold Target Maximum Percent of PSUs Earned 10 % 50 % 100 % All of the PSUs will be forfeited if neither the threshold CARGR goal nor the threshold Operating Margin goal is achieved. Also, if a Participant fails to remain in the Company’s continuous service through June 30, 2020, Assuming the maximum performance goals are achieved and continuous service by the Participants, $1,276,000 June 30, 2020. Stock-based compensation expense for the 42,180 no 42,180 September 30, 2018, not September 30, 2018, 2020. Total stock-based compensation in the three September 30, 2018 $263,000 $224,000 three September 30, 2017.
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. September 30, 2018, $12,194,000, $7,136,000 $5,058,000 $1,724,000 September 30, 2018 $1,122,000 Substantially all of our cash in the United States is deposited at one $9,493,000 September 30, 2018. Revolving Credit Line. 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. no September 30, 2018. September 30, 2018. Term Loan . September 15, 2017 five $3,500,000 first may $3,500,000. first The Company used the borrowings under this loan of $3,000,000 In September 2018, four $3,000,000. 48 $62,500 October 2018. No 90 The agreement governing the term loan contains two may not At September 30, 2018, $3,000,000 $750,000 $2,250,000 September 30, 2018. September 30, 2018. Accounts Receivable. 10% September 30, 2018 June 30, 2018. may $69,000 $80,000 September 30, 2018 June 30, 2018, no Coin Revenues 58% three September 30, 2018, 68% three September 30, 2017. Customers. five 11% three September 30, 2018 29% 18%
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 net realizable 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, 2018 $194,000 $274,000 three September 30, 2017. three September 30, 2018, $237,000 $154,000 three September 30, 2017.
Standard Product Warranty, Policy [Policy Text Block]	Warranty Costs We provide 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 three September 30, 2018 $112,000 $113,000 three September 30, 2017.
Stockholders' Equity, Policy [Policy Text Block]	Dividends In accordance with the Company’s current quarterly dividend policy, we paid quarterly cash dividends of $0.175 first 2019 $0.35 three September 30, 2018. may
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In February 2016, 2016 02 Accounting for Leases 12 not December 15, 2018,

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Sep. 30, 2018
Notes Tables
Share-based Compensation Award Vesting Cumulative [Table Text Block]	Financial Performance Goals Threshold Target Maximum Percent of PSUs Earned 10 % 50 % 100 %

Note 2 - Inventories (Tables)

Note 2 - Inventories (Tables)	3 Months Ended
	Sep. 30, 2018
Notes Tables
Schedule of Inventory, Current [Table Text Block]	Inventories consist of the following (in thousands): September 30 , June 30, 2018 201 8 Coins $ 496 $ 490 Grading raw materials consumable inventory 3,233 3,303 3,729 3,793 Less inventory reserve (1,217 ) (1,214 ) Inventories, net $ 2,512 $ 2,579

Note 3 - Property and Equipme_2

Note 3 - Property and Equipment (Tables)	3 Months Ended
	Sep. 30, 2018
Notes Tables
Property, Plant and Equipment [Table Text Block]	Property and equipment consist of the following (in thousands): September 30 , June 30, 201 8 201 8 Coins grading reference sets $ 263 $ 263 Computer hardware and equipment 2,181 2,075 Computer software 1,552 1,531 Equipment 4,828 4,661 Furniture and office equipment 925 925 Leasehold improvements 4,711 4,711 Trading card reference library 52 52 14,512 14,218 Less accumulated depreciation and amortization (6,322 ) (5,840 ) Property and equipment, net $ 8,190 $ 8,378

Note 4 - Accrued Liabilities (T

Note 4 - Accrued Liabilities (Tables)	3 Months Ended
	Sep. 30, 2018
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	Accrued liabilities consist of the following (in thousands): September 30 , June 30, 2018 201 8 Warranty reserves $ 944 $ 862 Professional fees 194 151 Other 783 985 $ 1,921 $ 1,998
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended September 30 , 2018 2017 Warranty reserve beginning of period $ 862 $ 834 Provision charged to cost of revenues 112 113 Payments (30 ) (104 ) Warranty reserve, end of period $ 944 $ 843

Note 6 - Net Income Per Share (

Note 6 - Net Income Per Share (Tables)	3 Months Ended
	Sep. 30, 2018
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, 2018 2017 Weighted average shares outstanding: Basic 8,933 8,573 Dilutive effect of restricted shares 29 192 Weighted average shares outstanding: Diluted 8,962 8,765

Note 7 - Business Segments (Tab

Note 7 - Business Segments (Tables)	3 Months Ended
	Sep. 30, 2018
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30, 20 18 20 17 Net revenues: Coins (1) $ 10,121 $ 13,449 Trading cards and autographs 6,100 5,088 Other 1,274 1,216 Consolidated total revenue $ 17,495 $ 19,753 Depreciation and amortization: Coins $ 324 $ 176 Trading cards and autographs 141 60 Other 148 134 Total 613 370 Unallocated depreciation and amortization 129 72 Consolidated depreciation and amortization $ 742 $ 442 Stock-based compensation: Coins $ 65 $ 57 Trading cards and autographs 4 16 Other 7 11 Total 76 84 Unallocated stock-based compensation 187 140 Consolidated stock-based compensation $ 263 $ 224 Operating income: Coins $ 2,329 $ 4,527 Trading cards and autographs 1,563 1,376 Other 343 265 Total 4,235 6,168 Unallocated operating expenses (1,408 ) (1,646 ) Consolidated operating income $ 2,827 $ 4,522
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	September 30 , June 30, 2018 201 8 Identifiable Assets: Coins $ 10,219 $ 10,905 Trading cards and autographs 3,854 3,877 Other 2,754 2,944 Total 16,827 17,726 Unallocated assets 15,977 14,488 Consolidated assets $ 32,804 $ 32,214 Goodwill: Coins $ 515 $ 515 Other 1,568 1,568 Consolidated goodwill $ 2,083 $ 2,083

Note 1 - Summary of Significa_3

Note 1 - Summary of Significant Accounting Policies (Details Textual)	Jun. 30, 2019shares	Oct. 22, 2018$ / shares	Jun. 30, 2018USD ($)shares	Sep. 15, 2017USD ($)	Jan. 10, 2017USD ($)	Oct. 31, 2018USD ($)	Sep. 30, 2018USD ($)shares	Dec. 31, 2017USD ($)shares	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)$ / sharesshares	Sep. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)
Contract with Customer, Liability, Revenue Recognized										$ 1,596,000
Contract with Customer, Liability, Total			$ 3,213,000									$ 3,213,000
Goodwill and Intangible Asset Impairment, Total										0
Allocated Share-based Compensation Expense, Total							$ 263,000		$ 224,000	263,000	$ 224,000
Cash and Cash Equivalents, at Carrying Value, Ending Balance			10,581,000				12,194,000		$ 10,207,000	12,194,000	10,207,000	10,581,000	$ 9,826,000
Money Market Funds, at Carrying Value							7,136,000			7,136,000
Other Cash Equivalents, at Carrying Value							5,058,000			5,058,000
Cash, Ending Balance							1,724,000			1,724,000
Cash, Uninsured Amount							9,493,000			9,493,000
Long-term Debt, Excluding Current Maturities, Total			2,438,000				2,250,000			2,250,000		2,438,000
Allowance for Doubtful Accounts Receivable, Current, Ending Balance			80,000				$ 69,000			69,000		$ 80,000
Capitalized Computer Software, Additions										194,000	274,000
Capitalized Computer Software, Amortization										237,000	154,000
Product Warranty Expense										$ 112,000	$ 113,000
Common Stock, Dividends, Per Share, Cash Paid | $ / shares										$ 0.35
Accounts Receivable [Member] | Customer Concentration Risk [Member] | One Customer [Member]
Concentration Risk, Percentage										10.00%		10.00%
Sales Revenue, Services, Net [Member] | Customer Concentration Risk [Member]
Number of Major Customers										5
Sales Revenue, Services, Net [Member] | Customer Concentration Risk [Member] | Five Customers [Member]
Concentration Risk, Percentage										11.00%		29.00%
Sales Revenue, Services, Net [Member] | Customer Concentration Risk [Member] | One China Customer [Member]
Concentration Risk, Percentage											18.00%
Number of Major Customers											1
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Cash Paid | $ / shares		$ 0.175
Unsecured Debt [Member] | CB&T [Member]
Debt Instrument, Term				5 years			4 years
Debt Agreement, Maximum Borrowing Capacity				$ 3,500,000
Long-term Debt, Total			$ 3,000,000				$ 3,000,000			$ 3,000,000		$ 3,000,000
Debt Instrument, Face Amount							$ 3,000,000			$ 3,000,000
Debt Instrument, Number of Payments							48			48
Other Long-term Debt, Current							$ 750,000			$ 750,000
Long-term Debt, Excluding Current Maturities, Total							2,250,000			2,250,000
Unsecured Debt [Member] | CB&T [Member] | Subsequent Event [Member]
Debt Instrument, Periodic Payment, Total						$ 62,500
Revolving Credit Facility [Member] | California Bank and Trust [Member]
Debt Instrument, Term					3 years
Line of Credit Facility, Maximum Borrowing Capacity					$ 10,000,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage					0.0625%
Line of Credit Facility, Average Outstanding Amount					$ 4,000,000
Long-term Line of Credit, Total							0			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%
CHINA
Cash, Ending Balance							$ 1,122,000			$ 1,122,000
Retention Shares, Annual Grants [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares							45,199	21,090
Finite-Lived Intangible Asset, Useful Life										3 years
Retention Shares, One Time Grants [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares								21,090
Retention Shares, One Time Grants [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | shares			10,545
Retention Shares, One Time Grants [Member] | Share-based Compensation Award, Tranche Two [Member] | Scenario, Forecast [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | shares	10,545
Retention Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares							45,199	42,180
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options							$ 599,000	$ 1,276,000		$ 599,000
Allocated Share-based Compensation Expense, Total										$ 661,000
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares										42,180
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options							$ 1,276,000			$ 1,276,000
Allocated Share-based Compensation Expense, Total										$ 0
Authentication and Grading Services [Member]
Revenue from Contract with Customer, Percentage												88.00%	88.00%
Coins [Member] | Sales Revenue, Services, Net [Member] | Product Concentration Risk [Member]
Concentration Risk, Percentage										58.00%	68.00%

Note 1 - Summary of Significa_4

Note 1 - Summary of Significant Accounting Policies - Shared-based Compensation Award Vesting Schedule (Details) - Performance Shares [Member]	3 Months Ended
	Sep. 30, 2018
Threshold Performance Goal [Member]
Percent of PSUs Earned	10.00%
Target Performance Goal [Member]
Percent of PSUs Earned	50.00%
Maximum Performance Goal [Member]
Percent of PSUs Earned	100.00%

Note 2 - Inventories - Inventor

Note 2 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 30, 2018
Inventory, gross	$ 3,729	$ 3,793
Less inventory reserve	(1,217)	(1,214)
Inventories, net	2,512	2,579
Coins [Member]
Inventory, gross	496	490
Grading Raw Materials Consumable [Member]
Inventory, gross	$ 3,233	$ 3,303

Note 3 - Property and Equipme_3

Note 3 - Property and Equipment (Details Textual) - USD ($)	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Leasehold Improvements Contributed by Landlord		$ 2,106,000
New Corporate Headquarter [Member]
Leasehold Improvements, Gross	4,144,000
Leasehold Improvements Contributed by Landlord	$ 2,949,000

Note 3 - Property and Equipme_4

Note 3 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 30, 2018
Property and equipment, gross	$ 14,512	$ 14,218
Less accumulated depreciation and amortization	(6,322)	(5,840)
Property and equipment, net	8,190	8,378
Coins Grading Reference Sets [Member]
Property and equipment, gross	263	263
Computer Equipment [Member]
Property and equipment, gross	2,181	2,075
Computer Software [Member]
Property and equipment, gross	1,552	1,531
Equipment [Member]
Property and equipment, gross	4,828	4,661
Furniture and Office Equipment [Member]
Property and equipment, gross	925	925
Leasehold Improvements [Member]
Property and equipment, gross	4,711	4,711
Trading Card Reference Library [Member]
Property and equipment, gross	$ 52	$ 52

Note 4 - Accrued Liabilities -

Note 4 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 30, 2018
Warranty reserves	$ 944	$ 862
Professional fees	194	151
Other	783	985
	$ 1,921	$ 1,998

Note 4 - Accrued Liabilities _2

Note 4 - Accrued Liabilities - Warranty Reserve Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Balance, Warranty reserve	$ 862	$ 834
Provision charged to cost of revenues	112	113
Payments	(30)	(104)
Balance, Warranty reserve	$ 944	$ 843

Note 5 - Income Taxes (Details

Note 5 - Income Taxes (Details Textual)	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Effective Income Tax Rate Reconciliation, Percent, Total	25.00%	20.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	35.00%

Note 6 - Net Income Per Share_2

Note 6 - Net Income Per Share (Details Textual) - shares	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	31,000	3,000
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	40,000

Note 6 - Net Income Per Share -

Note 6 - Net Income Per Share - Computation of Basic and Diluted Net Loss Per Common Share (Details) - shares shares in Thousands	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Weighted average shares outstanding: Basic (in shares)	8,933	8,573
Weighted average shares outstanding: Diluted (in shares)	8,962	8,765
Restricted Stock [Member]
Dilutive effect of restricted shares (in shares)	29	192

Note 7 - Business Segments (Det

Note 7 - Business Segments (Details Textual) $ in Thousands	3 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)
Number of Reportable Segments	3
Revenues, Total	$ 17,495	$ 19,753
Outside the United States [Member] | Coins [Member] | Service [Member]
Revenues, Total	$ 1,700	$ 4,900

Note 7 - Business Segments - Se

Note 7 - Business Segments - Segment Reporting Information (Details) - USD ($)		1 Months Ended		3 Months Ended
		Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Net revenues				$ 17,495,000	$ 19,753,000
Depreciation and amortization				742,000	442,000
Stock-based compensation		$ 263,000	$ 224,000	263,000	224,000
Operating income				2,827,000	4,522,000
Operating Segments [Member]
Depreciation and amortization				613,000	370,000
Stock-based compensation				76,000	84,000
Operating income				4,235,000	6,168,000
Segment Reconciling Items [Member]
Depreciation and amortization				129,000	72,000
Stock-based compensation				187,000	140,000
Operating income				(1,408,000)	(1,646,000)
Coins [Member] | Operating Segments [Member]
Net revenues	[1]			10,121,000	13,449,000
Depreciation and amortization				324,000	176,000
Stock-based compensation				65,000	57,000
Operating income				2,329,000	4,527,000
Trading Cards and Autographs [Member] | Operating Segments [Member]
Net revenues	[1]			6,100,000	5,088,000
Depreciation and amortization				141,000	60,000
Stock-based compensation				4,000	16,000
Operating income				1,563,000	1,376,000
Other Segments [Member] | Operating Segments [Member]
Net revenues	[1]			1,274,000	1,216,000
Depreciation and amortization				148,000	134,000
Stock-based compensation				7,000	11,000
Operating income				$ 343,000	$ 265,000
[1]	Includes service revenues of $1.7 million generated from outside the United States in the three months ended September 30, 2018 as compared to $4.9 million in the three months ended September 30, 2017.

Note 7 - Business Segments - Re

Note 7 - Business Segments - Reconciliation of Assets to Consolidated From Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 30, 2018
ASSETS
Assets	$ 32,804	$ 32,214
Goodwill:
Goodwill	2,083	2,083
Operating Segments [Member]
ASSETS
Assets	16,827	17,726
Operating Segments [Member] | Coins [Member]
ASSETS
Assets	10,219	10,905
Goodwill:
Goodwill	515	515
Operating Segments [Member] | Trading Cards and Autographs [Member]
ASSETS
Assets	3,854	3,877
Operating Segments [Member] | Other Segments [Member]
ASSETS
Assets	2,754	2,944
Goodwill:
Goodwill	1,568	1,568
Segment Reconciling Items [Member]
ASSETS
Assets	$ 15,977	$ 14,488

Note 8 - Related-party Transa_2

Note 8 - Related-party Transactions (Details Textual) - Immediate Family Member of Management or Principal Owner [Member] - Grading and Authentication Fees [Member] - USD ($)	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018
Related Party Transaction, Other Revenues from Transactions with Related Party	$ 228,000	$ 804,000
Accounts Receivable, Related Parties, Current	$ 52,000		$ 127,000

Note 10 - Subsequent Events (De

Note 10 - Subsequent Events (Details Textual) - $ / shares	Oct. 23, 2018	Sep. 30, 2018	Sep. 30, 2017
Common Stock, Dividends, Per Share, Declared		$ 0.175	$ 0.35
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared	$ 0.175
Dividends Payable, Date Declared	Oct. 23, 2018
Dividends Payable, Date to be Paid	Nov. 30, 2018
Dividends Payable, Date of Record	Nov. 16, 2018