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Exhibit 23.1
![](https://capedge.com/proxy/10-K/0001437749-13-003330/cpalogo.jpg)
We consent to the incorporation by reference in Registration Statement No. 333-123370 on Form S-8 of our report dated March 21, 2013, relating to our audit of the consolidated financial statements and the financial statement schedule, appearing in this Annual Report on Form 10-K of Paulson Capital Corp. for the years ended December 31, 2012 and 2011.
/S/ PETERSON SULLIVAN LLP
Seattle, Washington
March 21, 2013