Exhibit 99.1

           Collectors Universe Sells Majority of Auction Businesses
                       To Unit of Greg Manning Auctions

    NEWPORT BEACH, Calif., Feb. 19 /PRNewswire-FirstCall/ -- Collectors
Universe, Inc. (Nasdaq: CLCT), the leading provider of value-added grading and
authentication services and products to dealers and collectors of high-end
collectibles, today reported that in accordance with the plans to reposition
the corporate strategy to focus on its grading and authentication business,
the Company has sold its Bowers & Merena, Kingswood Coin Auctions and Superior
Sports Auction Divisions to Spectrum Numismatics International, Inc.
("Spectrum Numismatics"), a unit of Greg Manning Auctions, Inc.
(Nasdaq: GMAI).
    Commenting on the decision, Chief Executive Officer Michael Haynes stated,
"We have been analyzing the results from our two segments, and we decided to
reposition the company and return our focus to our core competency as the
leading grader and authenticator of high-end collectibles.  We believe that
our opportunities for profitable growth in the grading and authentication
business are significant and to achieve the maximum value for our
shareholders, it is necessary to devote all of our resources to that single
objective."
    In the sale to Spectrum Numismatics, Collectors Universe has sold
businesses and operations comprised of the Bowers & Merena, Kingswood and
Superior Sports Auctions names.  Under the terms of the agreement, the Company
will receive $2.5 million in cash for the assets of these businesses,
exclusive of their accounts receivable and inventory, which the Company will
retain.  The Company plans to collect the receivables and sell the inventory
in the ordinary course, which is expected to generate approximately $8 million
of additional cash for the Company.  The businesses sold to Spectrum
Numismatics had net revenues of $13.9 million in the fiscal year 2003, and
represented 44% of the revenue from the commerce segment of the Company's
business, and 27% of total net revenues, in fiscal 2003.
    Collectors Universe also plans to sell its remaining assets in Odyssey
Auctions, which represented 6% of collectible sales segment revenue in fiscal
year 2003.  Earlier in fiscal 2004, the Company sold its currency auction
business, operated by its wholly owned subsidiary, Lyn Knight Currency
Auctions, Inc.  This business accounted for 10% of the commerce segment's
revenue in fiscal year 2003.
    For the fiscal year ended June 30, 2003, the Company's collectibles
auction and sale businesses generated 61% of Collectors Universe's total
revenues.  At September 30, 2003, this segment accounted for $6.4 million, or
93% of the Company's total net accounts receivable and $7.2 million, or all of
the Company's net inventories.  The Company plans to reinvest the cash
provided by the sale of the assets and inventory and the collection of
accounts receivable into the continuing operations of the grading and
authentication businesses.

    Leveraging Dominant Brands Key to Growth
    David Hall, President and Founder of Collectors Universe, said, "We have
successfully developed our brand names in the grading and authentication
businesses, beginning with the original brand, PCGS.  By focusing our
attention on these brands and the possible future expansion of our
authentication business into vertical and horizontal markets, we believe that
we can best leverage our successful experience in managing and creating these
brands and direct our capital for a maximum return on investment."

    About Collectors Universe
    Collectors Universe, Inc. is the leading provider of products and
essential services to the high-end collectibles market.  The Collectors
Universe brands are among the strongest and best known in their respective
markets.  The Company grades and authenticates collectible coins, sportscards,
stamps, and autographs.  This information is accessible to collectors and
dealers at the Company's web site, www.collectors.com , and is also published
in print.

    Forward-Looking Statements
    This news release contains statements regarding our expectations about our
future financial performance that are "forward-looking statements" as defined
in the Private Securities Litigation Reform Act of 1995.  Forward-looking
statements can be identified by the use of words such as "believe," "expect,"
"anticipate," "intend," "plan," "estimate," "project," or words of similar
meaning, or future or conditional verbs such as "will," "would," "should,"
"could," or "may."  Our actual results in the future may differ, possibly
materially, from our current expectations as set forth in the forward looking
statements contained in this release due to a number of risks and
uncertainties.  Those risks and uncertainties include, but are not limited to:
changes in general economic conditions, and changes in conditions in the
collectibles markets in which we operate, such as a possible decline in the
popularity of some high-end collectibles, either of which could reduce the
volume of grading submissions and, therefore, the grading fees we generate
potential losses on owned collectible merchandise or the need to adjust these
inventories to fair market value through inventory write downs; our dependence
on a limited number of key management personnel the loss of any of which could
adversely affect future financial performance; and seasonality and potential
fluctuations in quarterly operating results and quarterly cash flows.  Certain
of these risks and uncertainties, in addition to other risks, are more fully
described in the Company's Annual Report on Form 10-K for the fiscal year
ended June 30, 2003, as filed with the Securities and Exchange Commission.
These forward-looking statements are made only as of the date of this news
release, and the Company undertakes no obligation to update or revise the
forward-looking statements, whether as a result of new information, future
events or otherwise.  In addition, although we believe that our strategy to
exit the commerce segment of our business and focus substantially all of our
resources on our grading and services segment will better enable us to achieve
improvements in the profitability, there is no assurance that our strategy
will prove to be successful.  Among other things, one consequence of our
strategy is that there will be a significant decline in our revenues.  As a
result, our profitability will suffer if we are unable to reduce our general
and administrative expenses to bring them in line with our lower revenue base.
Also, there is a practical limit on the amount by which expenses can be
reduced as a means of improving profitability.  As a result, our success in
the future will depend as well on our ability to achieve internal growth in
our grading businesses and to find and take advantage of opportunities to
acquire other businesses that provide value added services to the collectibles
markets.  There is no assurance that we will be able to achieve such growth
and growth by acquisition presents a number of risks including an inability to
integrate newly acquired businesses into existing operations successfully.

SOURCE  Collectors Universe, Inc.
    -0-                             02/19/2004
    /CONTACT:  Michael Lewis, Chief Financial Officer of Collectors Universe,
Inc., +1-949-567-1375, lewism@collectors.com; or Investors/Analyst
Information, Brandi Piacente of Financial Relations Board, +1-415-248-3430,
bpiacente@financialrelationsboard.com, for Collectors Universe, Inc./
    /Web site:  http://www.collectors.com /
    (CLCT GMAI)

CO:  Collectors Universe, Inc.; Greg Manning Auctions, Inc.; Spectrum
     Numismatics International, Inc.
ST:  California
IN:  REA FIN
SU:  TNM