_______________________________

                       SECURITIES AND EXCHANGE COMMISSION
                         _______________________________

                             WASHINGTON, D.C. 20549


                                    FORM 8-K

                CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934
                                 _______________


Date  of  Report  (Date  of  earliest  event  reported):   February  22,  2002


                         Tangible Asset Galleries, Inc.
                                 _______________________________
             (Exact name of registrant as specified in its charter)


                                     Nevada
                         _______________________________
                 (State or other jurisdiction of incorporation)


       0-21271                                            88-0396772
(Commission File Number)                       (IRS Employer Identification No.)



                                  3444 Via Lido
                         Newport  Beach, California  92663
                    (Address of principal executive offices) (Zip  Code)

Registrant's telephone number, including area code: (949) 566-0021

                                      N/A
          (Former name or former address, if changed since last report)


ITEM  2.     ACQUISITION  OR  DISPOSITION  OF  ASSETS

As  previously  discussed  in  the  Company's  periodic reports, the Company has
reviewed  the  operations  of  its subsidiary, Gehringer and Kellar dba Keystone
Stamp  &  Coin  Exchange  ("Keystone")  with  management  of  Keystone  and  the
contribution  of  Keystone  to  the  consolidated  net  income  of  the Company,
especially considering the profit sharing arrangement in the compensation of the
principal executives and former owners of Keystone.  Previously, the Company had
negotiated  an  agreement  with  management  of  Keystone ("Keystone Buyers") to
divest  the  assets  and  assign  the  liabilities  of  Keystone, which has been
approved by the board of directors of the Company subject to and contingent upon
a  final  accounting  and  a  written  agreement.  Operations  of  Keystone were
transferred  to  the  Keystone  Buyers  on  November  28,  2001  pursuant to the
negotiations  while  the  final  accounting  and  written  agreement  were being
finalized.  On  February  22,  2002,  a  final  accounting  was  agreed with the
Keystone  Buyers and the transaction has been substantially completed.  Pursuant
to  the  final  accounting, the Company issued 325,000 shares of common stock of
the  Company  to the Keystone Buyers as a fee for assuming the liabilities, such
common  shares having an aggregate value of $16,250, and the Keystone Buyers are
to  pay  to  the  Company  $135,086  for  the  net  assets.

                                   SIGNATURES

     Pursuant  to  the  requirements of the Securities Exchange Act of 1934, the
Registrant  has  duly  caused  this  report  to  be  signed on its behalf by the
undersigned  thereunto  duly  authorized.


Dated:     February  28,  2002                    TANGIBLE ASSET GALLERIES, INC.



                                   By:/s/  Michael  R.  Haynes
                                   Michael  R.  Haynes
                                   President  and  Chief  Financial  Officer