(Mark One)
ý	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarter ended March 31, 2004
	OR
q	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
	For the transition period from _______ to _____
Commission file number 0-27887
COLLECTORS UNIVERSE, INC. (Exact name of Registrant as specified in its charter)

Delaware	33-0846191
(State or other jurisdiction of	(I.R.S. Employer Identification No.)
Incorporation or organization)
1921 E. Alton Avenue, Santa Ana, California 92705
(address of principal executive offices and zip code)
Registrant's telephone number, including area code: (949) 567-1234

	Class	Outstanding at May 12, 2004
	Common Stock $.001 Par Value	6,202,106

PART I	Financial Information		Page
	Item 1.	Condensed Consolidated Balance Sheets (unaudited) as of March 31, 2004 and June 30, 2003 and June 30, 2003	1
		Condensed Consolidated Statements of Operations for the Three and Nine Months Ended March 31, 2004 and 2003 (unaudited)	2
		Condensed Consolidated Statements of Cash Flows for the Nine Months Ended March 31, 2004 and 2003 (unaudited)	3
		Notes to Condensed Consolidated Financial Statements (unaudited)	5
	Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	13
	Item 3.	Quantitative and Qualitative Disclosures About Market Risk	23
	Item 4.	Controls and Procedures	23
PART II	Other Information
	Item 6.	Exhibits and Reports on Form 8-K and Exhibits	24
SIGNATURES			S-1
INDEX TO EXHIBITS			E-1
EXHIBITS
Exhibit 31.1		Certifications of Chief Executive Officer Under Section 302 of the Sarbanes-Oxley Act
Exhibit 31.2		Certifications of Chief Financial Officer Under Section 302 of the Sarbanes-Oxley Act
Exhibit 32.1		Chief Executive Officer Certification of Periodic Report Under Section 906 of the Sarbanes-Oxley Act
Exhibit 32.2		Chief Financial Officer Certification of Periodic Report Under Section 906 of the Sarbanes-Oxley Act

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		March 31,			June 30,
		2004			2003
ASSETS
Current assets:
Cash and cash equivalents		$	15,739		$	4,482
Accounts receivable, net of allowance for doubtful accounts of $27 (March) and $29 (June)			675			454
Inventories, net			403			180
Prepaid expenses and other			763			638
Refundable income taxes			-			1,183
Deferred income taxes			1,066			1,066
Current assets of discontinued operations held for sale			7,597			15,947
Total current assets			26,243			23,950
Property and equipment, net			1,117			1,262
Deferred income taxes			6,467			6,467
Other assets			107			194
Non-current assets of discontinued operations held for sale			183			418
		$	34,117		$	32,291
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable		$	587		$	917
Accrued liabilities			1,050			1,253
Accrued compensation and benefits			767			490
Income taxes payable			748			-
Deferred revenue			1,217			777
Current liabilities of discontinued operations held for sale			1,274			2,144
Total current liabilities			5,643			5,581
Deferred rent			401			391
Other long-term liabilities			40			-
Commitment and contingencies
Stockholders' equity:
Preferred stock, $.001 par value; 5,000 shares authorized; no shares issued or outstanding			-			-
Common stock, $.001 par value; 40,000 shares authorized; issued and outstanding 6,186 at March 31, 2004 and 6,255    at June 30, 2003			41,673			40,904
Accumulated deficit			(12,619	)		(13,564	)
Treasury stock, at cost (125 shares)			(1,021	)		(1,021	)
Total stockholders' equity			28,033			26,319
		$	34,117		$	32,291

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		Three Months Ended						Nine Months Ended
		March 31,			March 31,			March 31			March 31,
		2004			2003			2004			2003
Net revenues		$	6,896		$	5,171		$	18,661		$	14,404
Cost of revenues			2,479			2,059			6,810			5,576
Gross profit			4,417			3,112			11,851			8,828
Selling, general and administrative expenses			3,041			3,277			9,299			9,169
Operating income (loss)			1,376			(165	)		2,552			(341	)
Interest income, net			11			64			25			85
Other expenses			(4	)		(14	)		(23	)		(6	)
Income (loss) before income taxes			1,383			(115	)		2,554			(262	)
Provision (benefit) for income taxes			592			(40	)		1,075			(490	)
Income (loss) from continuing operations before cumulative effect of change in accounting principle		$	791		$	(75	)	$	1,479		$	228
Cumulative effect of change in accounting principle, net of income taxes of $27			-			-			-			(56	)
Gain (loss) from discontinued operations, net of income taxes			201			50			(534	)		(9,323	)
Net income (loss)		$	992		$	(25	)	$	945		$	(9,151	)
Net income (loss) per basic share:
Income (loss) from continuing operations before cumulative    effect of change in accounting principle		$	0.13		$	(0.01	)	$	0.24		$	0.04
Cumulative effect of change in accounting principle, net of income taxes			-			-			-			(0.01	)
Gain (loss) from discontinued operations, net of income taxes			0.03			0.01			(0.09	)		(1.51	)
Net income (loss)		$	0.16		$	0.00		$	0.15		$	(1.48	)
Net income (loss) per diluted share:
Income (loss) from continuing operations before cumulative    effect of change in accounting principle		$	0.13		$	(0.01	)	$	0.24		$	0.04
Cumulative effect of accounting change, net of income taxes			-			-			-			(0.01	)
Gain (loss) from discontinued operations, net of income taxes			0.03			0.01			(0.09	)		(1.51	)
Net income (loss)		$	0.16		$	0.00		$	0.15		$	(1.48	)
Weighted average shares outstanding:
Basic			6,135			6,131			6,160			6,162
Diluted			6,319			6,131			6,306			6,162

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