(Mark One)
ý	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarter ended September 30, 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 October 22, 2004
	Common Stock $.001 Par Value	6,231,719

PART I	Financial Information		Page
	Item 1.	Financial Statements:
		Condensed Consolidated Balance Sheets as of September 30, 2004 and June 30, 2004 (unaudited)	1
		Condensed Consolidated Statements of Operations for the Three Months Ended September 30, 2004 and 2003 (unaudited)	2
		Condensed Consolidated Statements of Cash Flows for the Three Months Ended September 30, 2004 and 2003 (unaudited)	3
		Notes to Condensed Consolidated Financial Statements (unaudited)	4
	Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	11
		Forward Looking Information	11
		Our Business	11
		Critical Accounting Policies and Estimates	12
		Factors That Can Affect Our Financial Position and Operating Results	13
		Results of Operations	14
		Liquidity and Capital Resources	17
		Risks and Uncertainties That Could Affect Our Future Financial Performance	18
	Item 3.	Quantitative and Qualitative Disclosures About Market Risk	19
	Item 4.	Controls and Procedures	19
PART II	Other Information
	Item 6.	Exhibits	20
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 of 2002
Exhibit 31.2		Certifications of Chief Financial Officer Under Section 302 of the Sarbanes-Oxley Act pf 2002
Exhibit 32.1		Chief Executive Officer Certification of Periodic Report Under Section 906 of the Sarbanes-Oxley Act of 2002
Exhibit 32.2		Chief Financial Officer Certification of Periodic Report Under Section 906 of the Sarbanes-Oxley Act of 2002

	i

		September 30,			June 30,
		2004			2004
ASSETS
Current assets:
Cash and cash equivalents		$	25,047		$	21,454
Accounts receivable, net of allowance for doubtful accounts of $33 (September) and $30 (June)			891			790
Inventories, net			370			452
Prepaid expenses and other			667			781
Refundable income taxes			23			13
Deferred income taxes			1,174			1,174
Receivables from sale of net assets of discontinued operations			810			1,611
Current assets of discontinued operations held for sale			631			1,267
Total current assets			29,613			27,542
Property and equipment, net			967			1,045
Deferred income taxes			4,373			5,205
Other assets			183			165
Non-current assets of discontinued operations held for sale			103			117
		$	35,239		$	34,074
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable		$	651		$	455
Accrued liabilities			1,124			1,351
Accrued compensation and benefits			1,001			936
Deferred revenue			1,219			1,225
Current liabilities of discontinued operations held for sale			143			276
Total current liabilities			4,138			4,243
Deferred rent and other long-term liabilities			490			465
Commitment and contingencies
Stockholders' equity:
Preferred stock, $.001 par value; 5,000 shares authorized; no shares issued or outstanding			-			-
Common stock, $.001 par value; 45,000 shares authorized; issued 6,339 at September 30, 2004 and 6,338 at June 30, 2004			25			25
Additional paid-in capital			42,199			42,196
Accumulated deficit			(10,592	)		(11,834	)
Treasury stock, at cost (125 shares)			(1,021	)		(1,021	)
Total stockholders' equity			30,611			29,366
		$	35,239		$	34,074

	1

		Three Months Ended
		September 30,
		2004			2003
Net revenues		$	8,195		$	6,012
Cost of revenues			2,826			2,549
Gross profit			5,369			3,463
Selling and marketing expenses			957			838
General and administrative expenses			2,287			1,928
Total operating expenses			3,244			2,766
Operating income			2,125			697
Interest income, net			66			7
Other expenses			(2	)		(7	)
Income before income taxes			2,189			697
Provision for income taxes			(878	)		(313	)
Income from continuing operations after income taxes		$	1,311		$	384
(Loss) income from discontinued operations, net of gain on sales of discontinued businesses (net of income taxes)			(69	)		47
Net income		$	1,242		$	431
Net income per common share - basic
Income from continuing operations		$	0.21		$	0.06
(Loss) income from discontinued operations, net of gain on sales of discontinued businesses (net of income taxes)			(0.01	)		0.01
Net income - basic		$	0.20		$	0.07
Net income per common share - diluted
Income from continuing operations		$	0.20		$	0.06
(Loss) income from discontinued operations, net of gain on sales of discontinued businesses (net of income taxes)			(0.01	)		0.01