clct20190331

Significant Accounting Policies [Text Block]

1.	SUMMARY OF Significant Accounting Policies

Principles of Consolidation

March 31, 2019,

our operating subsidiaries were Certified Asset Exchange, Inc. (“CAE”), Collectors Universe (Hong Kong) Limited, Collectors Universe (Shanghai) Limited, Collectors Universe (Japan) Limited, and Expos, LLC. (“Expos”), all of which are ultimately

100%

owned by Collectors Universe, Inc. All significant intercompany transactions and accounts have been eliminated in consolidation.

Unaudited Interim Financial Information

three

and

nine

months ended

March 31, 2019

are

not

necessarily indicative of the results that

may

be expected for the year ending

June 30, 2019

or for any other interim period during such year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the rules and regulations of the SEC. These interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form

-K for the fiscal year ended

June 30, 2018,

as filed with the SEC (our “Fiscal

2018

-K”). Amounts related to disclosure of

June 30, 2018

balances within these interim condensed consolidated financial statements were derived from the aforementioned audited consolidated financial statements and the notes thereto.

Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation.

Revenue Recognition

Effective,

July 1, 2018,

the Company adopted Accounting Standards Codification (“ASC”)

606,

“Revenue from Contracts with Customers.” The core principle of ASC

606

is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those good or services. In applying ASC

606,

all revenue transactions must be evaluated using a

five

-step approach to determine the amount and timing of revenue to be recognized. The

five

-step approach requires (

) identifying the contract with the customer, (

) identifying the performance obligations in the contract, (

) determining the transaction price, (

) allocating the transaction price to the performance obligations in the contract and (

) recognizing revenue when performance obligations are satisfied. The Company analyzed the effect of the ASC

606

on its revenue streams and concluded that the adoption of the ASC

606

did

not

change the amounts and timing of revenue under previous revenue recognition guidance.

Our primary source of revenue is the authentication and grading of collectibles, which accounted for about

88%

of our consolidated revenues in both fiscal

2018

and

2017.

Our other sources of revenues are individually less than

5%.

In accordance with ASC

606

we recognize revenue for our main revenue streams as follows:

Authentication and Grading Revenues:

As the time it takes to authenticate and grade an individual collectible is short, we recognize revenue at the time of shipment (i.e. point of time) of the authenticated and graded collectible to the customer, net of any taxes collected. Due to the insignificant delay between the completion of our authentication and grading services and the shipment of the collectible back to the customer, the time of shipment corresponds to the completion of our services. We recognize revenue for the sale of special coin inserts at the time the customer takes legal title to the insert. Many of our authentication and grading customers prepay our authentication and grading fees when they submit their collectibles to us for authentication and grading. We record those prepayments as deferred revenue until the collectibles have been authenticated and graded and shipped back to them. At that time, we record the revenues from the authentication and grading services we have performed for the customer and deduct this amount from deferred revenue. For certain dealers to whom we extend credit, we record revenue at the time of shipment of the authenticated and graded collectible to the dealer. We provide a limited warranty covering the coins and trading cards that we authenticate and grade. See

Warranty C

osts

below.

Collectors Club Revenues:

These revenues represent membership fees paid by customers for annual memberships in our Collectors Club. Those membership fees entitle members to access our on-line and printed publications and, depending on their membership level, to receive vouchers for authentication and grading services during the membership period. We allocate revenue between the vouchers and the membership. We recognize revenue attributable to the authentication and grading vouchers consistent with our Authentication and Grading services above. The balance of the membership fees is recognized ratably over the life of the membership. Memberships are paid in advance of the membership period and prepaid memberships are classified as deferred revenue. In the event vouchers expire unused (i.e. there are unexercised customer rights), we consider the guidance under ASC

606

in determining when to recognize revenue.

Certified Coin Exchanges Subscription Revenues:

We recognize subscription revenues related to our CCE exchange for certified coins, ratably over the relevant subscription period. Subscriptions are typically billed and paid on a monthly basis, although certain quarterly and annual subscriptions can be paid in advance. Prepaid subscriptions are classified as part of deferred revenue.

Expos Trade Show Revenue:

We recognize fees earned from promoting, managing, and operating trade shows in the periods in which the shows take place. Trade show booth fees are typically paid to us in advance. Certain auction fees are paid to us at the end of the show. Prepaid show fees are classified as part of deferred revenue.

Advertising and Commission Revenues:

Advertising revenues are recognized in the period when the advertisement is displayed in our publications or websites and customers typically have

day credit terms. Click-through commission revenues earned through our websites from

third

party affiliate programs are recognized in the period in which the commissions are earned, and such commissions are paid in the following month.

Coin Sales:

Coin sales consist primarily of sales of collectibles coins that we have purchased pursuant to our coin authentication and grading warranty program. We recognize revenues from coin sales when they are shipped or delivered to customers or if the coins are sold through auction, when the auction settles. However, those sales are

not

considered an integral part of the Company’s on-going revenue generating activities.

Contract Balances.

As discussed above, the timing of revenue recognition can differ from the timing of invoicing to customers. Contract liabilities are comprised of billings or payments received from our customers in advance of performance under the contract. We refer to these contract liabilities as “Deferred Revenue” in the accompanying condensed consolidated balance sheets. During the

three

and

nine

months ended

March 31, 2019,

we recognized

$437,000

and

$2,746,000,

respectively, in revenue from the deferred revenue balance of

$3,213,000

June 30, 2018.

Shipping and Handling Costs

606.

Use of Estimates

Goodwill and Other Long-Lived

Assets

We evaluate the carrying value of goodwill and indefinite-lived intangible assets at least annually, or more frequently if facts and circumstances indicate that impairment

may

have occurred. Qualitative factors are considered in performing our goodwill impairment assessment, including the significant excess of fair value over carrying value in prior years, and any material changes in the estimated cash flows of the reporting unit. We also evaluate the carrying values of all other tangible and intangible assets for impairment if circumstances arise which indicate that the carrying values of these assets

may

not

be recoverable on the basis of future undiscounted cash flows. We determined that

impairment of goodwill or other long-lived assets existed as of

March 31, 2019.

Foreign Currency

not

material in any periods.

Stock-Based Compensation

Restricted Stock Awards

: Long Term Incentive Plan (“LTIP”)

Retention Restricted

Service

(“RSUs”)

To create incentives for the LTIP Participants to remain in the Company's service, RSUs were granted to them by the Compensation Committee as follows:

Annual Grants

. A total of

54,144

and

21,090

RSUs were granted in fiscal

2019

and

2018,

respectively, with vesting in

three

annual installments on the last day of the fiscal years following the grants, with the vesting of each such installment contingent on the Participant remaining in the continuous service of the Company through the vesting date of that installment.

One Time Grant

. A total of

21,090

RSUs were granted in

December 2017,

with vesting in

two

equal installments, of which

10,545

shares vested on

June 30, 2018

and the remaining RSUs will vest on

June

30,

2019,

contingent on the Participant remaining in the continuous service of the Company through that vesting date.

Fiscal

2018

erformance Restricted Share

(“PSUs”)

To create incentives for the Participants to drive significant improvements in the Company’s operating results during the

three

fiscal years ending

June

30,

2020

(the "Performance Period"), in

December 2017,

the Compensation Committee granted a total of

42,180

PSUs and established threshold, target and maximum CARGR (defined as compounded annual consolidated revenue growth rate) goals and Operating Margin (defined as operating income before stock-based compensation expense expressed as a percentage of consolidated revenue) goals, to be achieved over the Performance Period for vesting to occur.

To date,

stock-based compensation expense has been recognized for the

42,180

PSUs shares, as it is

not

considered probable, based on the level of operating income before stock-based compensation achieved through

March 31, 2019,

that the Company will achieve any of the performance goals by fiscal

2020.

Fiscal

2019

PSUs

three

years ending

June 30, 2021, (

the “Performance Period”), in

December 2018,

the Compensation Committee granted PSUs to Participants. Vesting of the PSUs is dependent upon the achievement of net cash flows on an annual basis for the fiscal years ending,

June 30, 2019,

2020

and

2021,

subject to possible downward or upward adjustment of

20%

of the PSUs, based on a comparison of the Company’s total shareholder return (“TSR”) for the Performance Period, to the TSR of the Russell

2000

Index, for the same Performance Period. Threshold, target and maximum net cash flow goals have been established for fiscal year

2019

and a grant date has been established for that year’s PSUs for expense recognition purposes. The cash flow goals for fiscal years

2020

and

2021

will be set early in those fiscal years which will give rise to grant dates for expense recognition purposes.

For any of the PSUs to vest, a Participant must provide continuous service through

June 30, 2021

and the threshold net cash flow goal must be achieved in at least

one

of the years in the Performance Period. Stock-based compensation expense of

$35,000

and

$45,000

was recognized for these PSUs in the

three

and

nine

months ended

March 31, 2019,

respectively.

Total stock-based compensation in the

three

and

nine

months ended

March 31, 2019

was

$252,000

and

$720,000,

respectively as compared to

$501,000

and

$951,000,

respectively,in the

three

and

nine

months ended

March 31, 2018.

Concentrations

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable.

Financial Instruments and Cash Balances.

March 31, 2019,

we had cash and cash equivalents totaling approximately

$15,716,000,

of which approximately

$12,113,000

was invested in money market accounts, and the balance of

$3,603,000

(which is inclusive of cash in overseas bank accounts) was in non-interest bearing bank accounts for general day-to-day operations. Cash in overseas bank accounts was approximately

$1,122,000

March 31, 2019

of which

$670,000

was in China. We plan to remit excess cash from China in accordance with Chinese exchange control regulations. Due to those exchange control regulations in China, delays can be experienced in transferring funds from China.

Substantially all of our cash in the United States is deposited at

one

FDIC insured financial institution. We maintained cash due from banks, inclusive of cash in overseas accounts, in excess of the bank’s FDIC insured deposit limits of approximately

$13,674,000

March 31, 2019.

Revolving Credit Line.

As previously reported, in

January 2017

we obtained a

three

-year,

$10,000,000

unsecured revolving credit line from a commercial bank to enhance the Company’s liquidity and to support the growth of the Company’s business. We are entitled to obtain borrowings under the credit line at such times and in such amounts as we

may

request, provided that the maximum principal amount of credit line borrowings that

may

be outstanding at any

one

time

may

not

exceed

$10,000,000.

We also

may

repay outstanding borrowings in whole or in part at any time or from time to time and reborrow amounts based upon availability under the line of credit, except that

borrowings

may

be outstanding under the credit line during a

consecutive day “out of loan” period each year. Borrowings bear interest, at the Company’s option, at LIBOR plus

2.25%

or at

0.25%

below the highest prime lending rate published from time to time by the Wall Street Journal. The Company is required to pay a quarterly unused commitment fee of

0.0625%

of the amount by which (if any) that the average of the borrowings outstanding under the credit line in any calendar quarter is less than

$4,000,000.

There were

borrowings outstanding under the credit line at

March 31, 2019.

We were in compliance with all of our financial and other covenants under our credit line agreement at

March 31, 2019.

Term Loan

As previously reported, on

September

15,

2017

the Company obtained a

five

-year,

$3,500,000

unsecured term loan from a commercial bank. The Company borrowed

$3,000,000

under this loan to fund the Company’s share of the construction and related facility costs for its new operations and headquarter facility, as well as its moving costs, and lease exit costs from its former operations and headquarters facility. During that

first

year the Company was only required to make monthly payments of interest on borrowings.

September 2018,

the loan balance outstanding was automatically converted into a

four

-year term loan in the principal amount of the borrowings then outstanding, which was

$3,000,000.

October 2018,

the Company began repaying the loan in

equal monthly principal payments of

$62,500,

$750,000

on an annual basis, through

September 2022.

There are

prepayment penalties on loan repayments, as the Company chose a

-day LIBOR rate to apply to the outstanding balances upon conversion to the

four

-year term loan.

The agreement governing the term loan contains

two

financial covenants, which require the Company to maintain (a) a funded debt coverage ratio and (b) a debt service coverage ratio, respectively. The loan agreement also contains certain other covenants typical for this type of loan, including a covenant which provides that, without the bank’s consent, the Company

may

not

incur additional indebtedness for borrowed money, except for (i) borrowings under the Company’s revolving credit line, (ii) purchase money indebtedness and (iii) capitalized lease obligations.

March 31, 2019,

the Company had

$2,625,000

of outstanding borrowings under this loan of which

$750,000

is classified as a current liability and

$1,875,000

is classified as a long-term liability in the consolidated condensed balance sheet at

March 31, 2019.

The Company was in compliance with the loan covenants at

March 31, 2019.

Accounts Receivable.

A substantial portion of accounts receivable are due from collectibles dealers.

individual customer’s accounts receivable balance exceeded

10%

of the Company’s total gross accounts receivable balances at

March 31, 2019.

One individual customer’s accounts receivable balance exceeded

10%

of the Company’s total gross accounts receivable balances at

June 30, 2018.

We perform analyses of the expected collectability of accounts receivable based on several factors, including the age and extent of significant past due accounts and economic conditions or trends that

may

adversely affect the ability of debtors to pay their account receivable balances. Based on that review, we establish allowances for doubtful accounts, when deemed necessary. The allowances for doubtful accounts receivable were

$74,000

and

$80,000

March 31, 2019

and

June 30, 2018,

respectively. Ultimately, we will write-off any accounts receivable balances when it is determined that there is

possibility of collection.

Coin Revenues

. The authentication, grading and sales of collectible coins, related services and coin product sales accounted for approximately

58%

of our net revenues for the

nine

months ended

March 31, 2019,

as compared to

64%

of our net revenues for the

nine

months ended

March 31, 2018.

Customers.

Our top

five

customers accounted, in the aggregate, for approximately

13%

and

11%

of our total revenues in the

three

and

nine

months ended

March 31, 2019

as compared to

13%

and

18%

of revenues in the same periods of the prior year. During the

nine

months ended

March 31, 2018

our banking channel customer in China accounted for approximately

of total net revenues, however, there were

submissions from this customer in the current year periods.

Inventories

first

-in

first

-out method) or market. Inventories are periodically reviewed to identify slow-moving items, and an allowance for inventory losses is recognized, as considered necessary. It is possible that our estimates of market value of collectible coins in inventory could change due to market conditions in the various collectibles markets served by the Company, which could require us to increase that allowance for inventory losses.

Capitalized Software

three

years. In the

three

and

nine

months ended

March 31, 2019,

we capitalized approximately

$319,000

and

$787,000,

respectively, of software development costs as compared to

$213,000

and

$720,000,

respectively, in the

three

and

nine

months ended

March 31, 2018.

In the

three

and

nine

months ended

March 31, 2019,

we recorded approximately

$243,000

and

$672,000,

respectively, as amortization expense for capitalized software as compared to

$180,000

and

$509,000,

respectively, in the

three

and

nine

months ended

March 31, 2018.

Planning, training, support and maintenance costs incurred either prior to or following the implementation phase of software development projects are recognized as expense in the period in which they are incurred. We evaluate the carrying value of capitalized software for possible impairment, and, if necessary, an impairment loss is recorded in the period in which any impairment is determined to have occurred.

Warranty Costs

not

to have been authentic, we will offer to purchase the collectible or, in the alternative, at the customer’s option, pay the difference in value of the item at its original grade, as compared to its value at its lower grade. However, this warranty is voided if the collectible, upon re-submittal to us, is

not

in the same tamper-evident holder in which it was placed at the time we last graded it. We accrue for estimated warranty costs based on historical trends and related experience. We monitor the adequacy of our warranty reserves on an ongoing basis for significant claims resulting from resubmissions receiving lower grades or deemed

not

to have been authentic. Warranty expense recognized in the

three

and

nine

months ended

March 31, 2019

was

$73,000

and

$402,000,

respectively, as compared to

$128,000

and

$343,000,

respectively, in the

three

and

nine

months ended

March 31, 2018.

Dividends

In accordance with the Company’s current quarterly dividend policy, we paid quarterly cash dividends of

$0.175

per share of common stock in the

third

quarter of fiscal

2019.

The declaration of cash dividends in the future is subject to final determination each quarter by the Board of Directors based on a number of factors, including the Company’s financial performance and its available cash resources, its cash requirements and alternative uses of cash that the Board

may

conclude would represent an opportunity to generate a greater return on investment for the Company.

Recent Accounting Pronouncements

February 2016,

FASB issued Accounting Standards Update

2016

Accounting for Leases

. The core principle of this guidance is that a lessee should recognize the assets and liabilities that arise from leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of

months or less, a lessee is permitted to make an accounting policy election by class of underlying asset

not

to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. The adoption of this guidance is expected to have a material effect on the Company’s consolidated financial statement and related disclosures. The guidance is effective for fiscal years beginning after

December 15, 2018,

including interim periods thereafter. Early adoption is permitted.

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Note 2 - Inventories

9 Months Ended

Mar. 31, 2019

Inventory Disclosure [Text Block]

2.	INVENTORIES

Inventories consist of the following (in thousands):

	March 31 ,			June 30,
	201 9			201 8
Coins and cards	$	484		$	490
Grading raw materials consumable inventory		3,159			3,303
		3,643			3,793
Less inventory reserve		(1,349	)		(1,214	)
Inventories, net	$	2,294		$	2,579

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Note 3 - Property and Equipment

9 Months Ended

Mar. 31, 2019

Property, Plant and Equipment Disclosure [Text Block]

3.	PROPERTY AND EQUIPMENT

Property and equipment consist of the following (in thousands):

	March 31 ,			June 30,
	201 9			201 8
Coins grading reference sets	$	240		$	263
Computer hardware and equipment		2,273			2,075
Computer software		1,614			1,531
Equipment		5,111			4,661
Furniture and office equipment		938			925
Leasehold improvements		4,713			4,711
Trading card reference library		52			52
		14,941			14,218
Less accumulated depreciation and amortization		(7,238	)		(5,840	)
Property and equipment, net	$	7,703		$	8,378

Leasehold improvements include approximately

$4,144,000

of leasehold improvements for the Company’s operations and headquarters facility which we occupied in

December 2017,

of which approximately

$2,949,000

was contributed by the landlord.

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Note 4 - Accrued Liabilities

9 Months Ended

Mar. 31, 2019

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

4.	ACCRUED LIABILITIES

Accrued liabilities consist of the following (in thousands):

	March 31 ,		June 30,
	201 9		201 8
Warranty reserves	$	728	$	862
Professional fees		120		151
Other		837		985
	$	1,685	$	1,998

The following table presents the changes in the Company’s warranty reserve during the

nine

months ended

March 31, 2019

and

2018

(in thousands):

	Nine Months Ended March 31 ,
	201 9			201 8
Warranty reserve beginning of period	$	862		$	834
Provision charged to cost of revenues		402			343
Payments		(536	)		(583	)
Warranty reserve, end of period	$	728		$	594

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Note 5 - Income Taxes

9 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Text Block]

5.	INCOME TAXES

The income tax provisions in the

three

and

nine

months ended

March 31, 2019,

were determined based on estimated annual effective tax rates of approximately

25%

and

26%,

respectively as compared to

30%

and

24%

for the

three

and

nine

months ended

March 31, 2018.

The rate of

26%

for the

nine

months ended

March 31, 2019,

reflects a federal tax rate of

21%

as a result of the Tax Reform Act enacted into law in

December 2017.

The rate of

24%

in the

nine

months ended

March 31, 2018

reflected a blended federal tax rate of

28%.

All periods have been adjusted for excess tax benefits or deficiencies, primarily resulting from the vesting of the

2013

LTIP shares in

June 2018

and

August 2017,

respectively.

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Note 6 - Net Income Per Share

9 Months Ended

Mar. 31, 2019

Earnings Per Share [Text Block]

6.	NET INCOME PER SHARE

The following table presents the changes in the Company’s weighted average shares outstanding for the

three

and

nine

months ended

March 31, 2019

and

2018

(in thousands):

	Three Months Ended March 31,				Nine Months Ended March 31,
	201 9		201 8		201 9		201 8
Weighted average shares outstanding: Basic		8,938		8,703		8,936		8,651
Dilutive effect of restricted shares		28		199		22		204
Weighted average shares outstanding: Diluted		8,966		8,902		8,958		8,855

A total of

10,000

anti-dilutive unvested RSUs were excluded from the computation of diluted income per share at

March 31, 2019

as compared to

50,000

anti-dilutive unvested RSUs that were excluded from the computation at

March 31, 2018.

In addition, at

March 31, 2019,

120,000

of unvested PSUs were excluded from the computation of diluted income per share because we had

not

achieved the related performance goals required for the PSUs to vest.

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Note 7 - Business Segments

9 Months Ended

Mar. 31, 2019

Segment Reporting Disclosure [Text Block]

7.	BUSINESS SEGMENTS

For our continuing operations, we operate principally in

three

reportable service segments: coins, trading cards and autographs and other (which includes our non-authentication and grading smaller businesses). Services provided by the coin and the trading cards and autographs segments include authentication, grading, publications, advertising and commissions earned, membership revenues and product sales. The other segment is comprised of CCE, Coinflation.com, Collectors.com and our collectibles trade show business.

three

and

nine

months ended

March 31, 2019

and

2018,

respectively. Net identifiable assets are provided by business segment as of

March 31, 2019

and

June 30, 2018,

respectively (in thousands):

	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	201 9			201 8			201 9			201 8
Net revenues from external customers:
Coins (1)	$	11,512		$	10,780		$	30,512		$	32,817
Trading cards and autographs		6,746			5,449			18,852			15,192
Other		1,213			1,283			3,306			3,319
Consolidated total revenue	$	19,471		$	17,512		$	52,670		$	51,328
Amortization and depreciation:
Coins	$	348		$	271		$	1,002		$	652
Trading cards and autographs		150			123			431			265
Other		112			143			357			420
Total		610			537			1,790			1,337
Unallocated amortization and depreciation		93			121			342			275
Consolidated amortization and depreciation	$	703		$	658		$	2,132		$	1,612
Stock-based compensation:
Coins	$	44		$	152		$	100		$	266
Trading cards and autographs		12			16			22			47
Other		9			21			24			42
Total		65			189			146			355
Unallocated stock-based compensation		187			312			574			596
Consolidated stock-based compensation	$	252		$	501		$	720		$	951
Operating income:
Coins	$	3,652		$	2,077		$	7,506		$	7,434
Trading cards and autographs		2,001			1,385			5,273			3,879
Other		285			302			959			820
Total		5,938			3,764			13,738			12,133
Unallocated operating expenses		(1,173	)		(1,778	)		(3,932	)		(5,386	)
Consolidated operating income	$	4,765		$	1,986		$	9,806		$	6,747

(

)

Includes service revenues of

$1.9

million and

$5.2

million generated from outside the United States in the

three

and

nine

months ended

March 31, 2019

as compared to

$2.0

million and

$9.1

million in the

three

and

nine

months ended

March 31, 2018.

	March 31 ,		June 30,
	201 9		201 8
Identifiable Assets:
Coins	$	10,358	$	10,905
Trading cards and autographs		3,630		3,877
Other		2,546		2,944
Total		16,534		17,726
Unallocated assets		19,502		14,488
Consolidated assets	$	36,036	$	32,214
Goodwill:
Coins	$	515	$	515
Other		1,568		1,568
Consolidated goodwill	$	2,083	$	2,083

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Note 8 - Related-party Transactions

9 Months Ended

Mar. 31, 2019

8.	RELATED-PARTY TRANSACTIONS

During the

three

and

nine

months ended

March 31, 2019,

an adult member of the immediate family (who does

not

reside with him) of Mr. David Hall,

one

of the Company’s founders and its former President, and the beneficial owner of more than

of our outstanding shares, paid grading and authentication fees to us of

$409,000

and

$793,000,

respectively, as compared to

$394,000

and

$1,649,000,

respectively, for the

three

and

nine

months ended

March 31, 2018.

March 31, 2019,

the amount owed to the Company by that person for these services was approximately

$170,000

as compared to

$127,000

June 30, 2018.

The grading fees charged by the Company to this individual were comparable to the fees charged by the Company in the ordinary course of business to unaffiliated customers for similar services.

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Note 9 - Contingencies

9 Months Ended

Mar. 31, 2019

Contingencies Disclosure [Text Block]

9.	CONTINGENCIES

We believe that

none

of the lawsuits or disputes currently pending against the Company is likely to have a material adverse effect on the Company’s financial position or results of operations.

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Note 10 - Subsequent Events

9 Months Ended

Mar. 31, 2019

Subsequent Events [Text Block]

10.	SUBSEQUENT EVENTS

April 22, 2019

the Company announced that, in accordance with its dividend policy the Board of Directors had approved a

fourth

quarter cash dividend of

$0.175

per share of common stock, which will be paid on

May 31, 2019

to stockholders of record on

May 17, 2019

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Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Mar. 31, 2019
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements include the accounts of Collectors Universe, Inc. and its operating subsidiaries (the “Company”, “we”, “us”, or “our”). At March 31, 2019, our operating subsidiaries were Certified Asset Exchange, Inc. (“CAE”), Collectors Universe (Hong Kong) Limited, Collectors Universe (Shanghai) Limited, Collectors Universe (Japan) Limited, and Expos, LLC. (“Expos”), all of which are ultimately 100% owned by Collectors Universe, Inc. All significant intercompany transactions and accounts have been eliminated in consolidation.
Basis of Accounting, Policy [Policy Text Block]	Unaudited Interim Financial Information The accompanying interim condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These interim condensed consolidated financial statements are unaudited and, in the opinion of management, include all adjustments (consisting of normal recurring adjustments and accruals) necessary to present fairly the Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations, and Condensed Consolidated Statements of Cash Flows for the periods presented in accordance with generally accepted accounting principles as in effect in the United States of America (“GAAP”). Operating results for the three and nine months ended March 31, 2019 are not necessarily indicative of the results that may be expected for the year ending June 30, 2019 or for any other interim period during such year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the rules and regulations of the SEC. These interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10 -K for the fiscal year ended June 30, 2018, as filed with the SEC (our “Fiscal 2018 10 -K”). Amounts related to disclosure of June 30, 2018 balances within these interim condensed consolidated financial statements were derived from the aforementioned audited consolidated financial statements and the notes thereto.
Reclassification, Policy [Policy Text Block]	Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation.
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition Effective, July 1, 2018, the Company adopted Accounting Standards Codification (“ASC”) 606, “Revenue from Contracts with Customers.” The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those good or services. In applying ASC 606, all revenue transactions must be evaluated using a five -step approach to determine the amount and timing of revenue to be recognized. The five -step approach requires ( 1 ) identifying the contract with the customer, ( 2 ) identifying the performance obligations in the contract, ( 3 ) determining the transaction price, ( 4 ) allocating the transaction price to the performance obligations in the contract and ( 5 ) recognizing revenue when performance obligations are satisfied. The Company analyzed the effect of the ASC 606 on its revenue streams and concluded that the adoption of the ASC 606 did not change the amounts and timing of revenue under previous revenue recognition guidance. Our primary source of revenue is the authentication and grading of collectibles, which accounted for about 88% of our consolidated revenues in both fiscal 2018 and 2017. Our other sources of revenues are individually less than 5%. In accordance with ASC 606 we recognize revenue for our main revenue streams as follows: Authentication and Grading Revenues: As the time it takes to authenticate and grade an individual collectible is short, we recognize revenue at the time of shipment (i.e. point of time) of the authenticated and graded collectible to the customer, net of any taxes collected. Due to the insignificant delay between the completion of our authentication and grading services and the shipment of the collectible back to the customer, the time of shipment corresponds to the completion of our services. We recognize revenue for the sale of special coin inserts at the time the customer takes legal title to the insert. Many of our authentication and grading customers prepay our authentication and grading fees when they submit their collectibles to us for authentication and grading. We record those prepayments as deferred revenue until the collectibles have been authenticated and graded and shipped back to them. At that time, we record the revenues from the authentication and grading services we have performed for the customer and deduct this amount from deferred revenue. For certain dealers to whom we extend credit, we record revenue at the time of shipment of the authenticated and graded collectible to the dealer. We provide a limited warranty covering the coins and trading cards that we authenticate and grade. See Warranty C osts below. Collectors Club Revenues: These revenues represent membership fees paid by customers for annual memberships in our Collectors Club. Those membership fees entitle members to access our on-line and printed publications and, depending on their membership level, to receive vouchers for authentication and grading services during the membership period. We allocate revenue between the vouchers and the membership. We recognize revenue attributable to the authentication and grading vouchers consistent with our Authentication and Grading services above. The balance of the membership fees is recognized ratably over the life of the membership. Memberships are paid in advance of the membership period and prepaid memberships are classified as deferred revenue. In the event vouchers expire unused (i.e. there are unexercised customer rights), we consider the guidance under ASC 606 in determining when to recognize revenue. Certified Coin Exchanges Subscription Revenues: We recognize subscription revenues related to our CCE exchange for certified coins, ratably over the relevant subscription period. Subscriptions are typically billed and paid on a monthly basis, although certain quarterly and annual subscriptions can be paid in advance. Prepaid subscriptions are classified as part of deferred revenue. Expos Trade Show Revenue: We recognize fees earned from promoting, managing, and operating trade shows in the periods in which the shows take place. Trade show booth fees are typically paid to us in advance. Certain auction fees are paid to us at the end of the show. Prepaid show fees are classified as part of deferred revenue. Advertising and Commission Revenues: Advertising revenues are recognized in the period when the advertisement is displayed in our publications or websites and customers typically have 30 day credit terms. Click-through commission revenues earned through our websites from third party affiliate programs are recognized in the period in which the commissions are earned, and such commissions are paid in the following month. Coin Sales: Coin sales consist primarily of sales of collectibles coins that we have purchased pursuant to our coin authentication and grading warranty program. We recognize revenues from coin sales when they are shipped or delivered to customers or if the coins are sold through auction, when the auction settles. However, those sales are not considered an integral part of the Company’s on-going revenue generating activities. Contract Balances. As discussed above, the timing of revenue recognition can differ from the timing of invoicing to customers. Contract liabilities are comprised of billings or payments received from our customers in advance of performance under the contract. We refer to these contract liabilities as “Deferred Revenue” in the accompanying condensed consolidated balance sheets. During the three and nine months ended March 31, 2019, we recognized $437,000 and $2,746,000, respectively, in revenue from the deferred revenue balance of $3,213,000 at June 30, 2018.
Cost of Goods and Services Sold, Shipping and Handling Cost, Policy [Policy Text Block]	Shipping and Handling Costs Shipping and handling costs incurred to process and return customer collectibles submitted to us for grading or authentication are recorded as costs of revenues, net of amounts received from customers, in accordance with the guidance for Principals versus Agents as set out in ASC 606.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results from continuing and discontinued operations could differ from results expected on the basis of those estimates, and such differences could be material to our future results of operations and financial condition. Examples of such estimates that could be material include determinations made with respect to the capitalization and recovery of software development costs, the valuation of stock-based compensation awards and the timing of the recognition of related stock-based compensation expense, the valuation of coin inventory, the amount and assessment of goodwill for impairment, the sufficiency of warranty reserves and the provision or benefit for income taxes and related valuation allowances.
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and Other Long-Lived Assets We evaluate the carrying value of goodwill and indefinite-lived intangible assets at least annually, or more frequently if facts and circumstances indicate that impairment may have occurred. Qualitative factors are considered in performing our goodwill impairment assessment, including the significant excess of fair value over carrying value in prior years, and any material changes in the estimated cash flows of the reporting unit. We also evaluate the carrying values of all other tangible and intangible assets for impairment if circumstances arise which indicate that the carrying values of these assets may not be recoverable on the basis of future undiscounted cash flows. We determined that no impairment of goodwill or other long-lived assets existed as of March 31, 2019.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency The Company has determined that the U.S. Dollar is the functional currency for its French branch office and its Hong Kong, Japan and China subsidiaries. Based on this determination, the Company’s foreign operations are re-measured by reflecting the financial results of such operations as if they had taken place within a U.S. dollar-based economic environment. Fixed assets and other non-monetary assets and liabilities are re-measured from foreign currencies to U.S. dollars at historical exchange rates; whereas cash, accounts receivable and other monetary assets and liabilities are re-measured at current exchange rates. Gains and losses resulting from those re-measurements, which are included in income for the current period, were not material in any periods.
Share-based Payment Arrangement [Policy Text Block]	Stock-Based Compensation We recognize stock-based compensation attributable to service-based equity grants over the service period based on the respective grant date fair values of the awards. For performance-based equity grants, the vesting of which is dependent on the achievement of financial performance goals, we begin recognizing compensation expense based on their respective grant date fair values, when it has become probable that we will achieve the financial performance goals. Performance-based equity grants that contain a market multiplier are accounted for as awards with a performance condition. Restricted Stock Awards : Long Term Incentive Plan (“LTIP”) Retention Restricted Service Shares (“RSUs”) To create incentives for the LTIP Participants to remain in the Company's service, RSUs were granted to them by the Compensation Committee as follows: Annual Grants . A total of 54,144 and 21,090 RSUs were granted in fiscal 2019 and 2018, respectively, with vesting in three annual installments on the last day of the fiscal years following the grants, with the vesting of each such installment contingent on the Participant remaining in the continuous service of the Company through the vesting date of that installment. One Time Grant . A total of 21,090 RSUs were granted in December 2017, with vesting in two equal installments, of which 10,545 shares vested on June 30, 2018 and the remaining RSUs will vest on June 30, 2019, contingent on the Participant remaining in the continuous service of the Company through that vesting date. If a Participant's continuous service with the Company ceases, for any reason whatsoever, including a termination of the Participant’s employment with or without cause, prior to any vesting date or dates, the then unvested RSUs will be forfeited. Fiscal 2018 P erformance Restricted Share s (“PSUs”) To create incentives for the Participants to drive significant improvements in the Company’s operating results during the three fiscal years ending June 30, 2020 (the "Performance Period"), in December 2017, the Compensation Committee granted a total of 42,180 PSUs and established threshold, target and maximum CARGR (defined as compounded annual consolidated revenue growth rate) goals and Operating Margin (defined as operating income before stock-based compensation expense expressed as a percentage of consolidated revenue) goals, to be achieved over the Performance Period for vesting to occur. To date, no stock-based compensation expense has been recognized for the 42,180 PSUs shares, as it is not considered probable, based on the level of operating income before stock-based compensation achieved through March 31, 2019, that the Company will achieve any of the performance goals by fiscal 2020. Fiscal 2019 PSUs To create incentives for the Participants to focus their efforts on the achievement of increases in net cash flows (defined as net cash generated by the Company’s continuing activities, minus capital expenditures and capitalized software costs), during the three years ending June 30, 2021, ( the “Performance Period”), in December 2018, the Compensation Committee granted PSUs to Participants. Vesting of the PSUs is dependent upon the achievement of net cash flows on an annual basis for the fiscal years ending, June 30, 2019, 2020 and 2021, subject to possible downward or upward adjustment of 20% of the PSUs, based on a comparison of the Company’s total shareholder return (“TSR”) for the Performance Period, to the TSR of the Russell 2000 Index, for the same Performance Period. Threshold, target and maximum net cash flow goals have been established for fiscal year 2019 and a grant date has been established for that year’s PSUs for expense recognition purposes. The cash flow goals for fiscal years 2020 and 2021 will be set early in those fiscal years which will give rise to grant dates for expense recognition purposes. For any of the PSUs to vest, a Participant must provide continuous service through June 30, 2021 and the threshold net cash flow goal must be achieved in at least one of the years in the Performance Period. Stock-based compensation expense of $35,000 and $45,000 was recognized for these PSUs in the three and nine months ended March 31, 2019, respectively. Total stock-based compensation in the three and nine months ended March 31, 2019 was $252,000 and $720,000, respectively as compared to $501,000 and $951,000, respectively,in the three and nine months ended March 31, 2018.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentrations Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Financial Instruments and Cash Balances. At March 31, 2019, we had cash and cash equivalents totaling approximately $15,716,000, of which approximately $12,113,000 was invested in money market accounts, and the balance of $3,603,000 (which is inclusive of cash in overseas bank accounts) was in non-interest bearing bank accounts for general day-to-day operations. Cash in overseas bank accounts was approximately $1,122,000 at March 31, 2019 of which $670,000 was in China. We plan to remit excess cash from China in accordance with Chinese exchange control regulations. Due to those exchange control regulations in China, delays can be experienced in transferring funds from China. Substantially all of our cash in the United States is deposited at one FDIC insured financial institution. We maintained cash due from banks, inclusive of cash in overseas accounts, in excess of the bank’s FDIC insured deposit limits of approximately $13,674,000 at March 31, 2019. Revolving Credit Line. As previously reported, in January 2017 we obtained a three -year, $10,000,000 unsecured revolving credit line from a commercial bank to enhance the Company’s liquidity and to support the growth of the Company’s business. We are entitled to obtain borrowings under the credit line at such times and in such amounts as we may request, provided that the maximum principal amount of credit line borrowings that may be outstanding at any one time may not exceed $10,000,000. We also may repay outstanding borrowings in whole or in part at any time or from time to time and reborrow amounts based upon availability under the line of credit, except that no borrowings may be outstanding under the credit line during a 30 consecutive day “out of loan” period each year. Borrowings bear interest, at the Company’s option, at LIBOR plus 2.25% or at 0.25% below the highest prime lending rate published from time to time by the Wall Street Journal. The Company is required to pay a quarterly unused commitment fee of 0.0625% of the amount by which (if any) that the average of the borrowings outstanding under the credit line in any calendar quarter is less than $4,000,000. There were no borrowings outstanding under the credit line at March 31, 2019. We were in compliance with all of our financial and other covenants under our credit line agreement at March 31, 2019. Term Loan . As previously reported, on September 15, 2017 the Company obtained a five -year, $3,500,000 unsecured term loan from a commercial bank. The Company borrowed $3,000,000 under this loan to fund the Company’s share of the construction and related facility costs for its new operations and headquarter facility, as well as its moving costs, and lease exit costs from its former operations and headquarters facility. During that first year the Company was only required to make monthly payments of interest on borrowings. In September 2018, the loan balance outstanding was automatically converted into a four -year term loan in the principal amount of the borrowings then outstanding, which was $3,000,000. In October 2018, the Company began repaying the loan in 48 equal monthly principal payments of $62,500, or $750,000 on an annual basis, through September 2022. There are no prepayment penalties on loan repayments, as the Company chose a 90 -day LIBOR rate to apply to the outstanding balances upon conversion to the four -year term loan. The agreement governing the term loan contains two financial covenants, which require the Company to maintain (a) a funded debt coverage ratio and (b) a debt service coverage ratio, respectively. The loan agreement also contains certain other covenants typical for this type of loan, including a covenant which provides that, without the bank’s consent, the Company may not incur additional indebtedness for borrowed money, except for (i) borrowings under the Company’s revolving credit line, (ii) purchase money indebtedness and (iii) capitalized lease obligations. At March 31, 2019, the Company had $2,625,000 of outstanding borrowings under this loan of which $750,000 is classified as a current liability and $1,875,000 is classified as a long-term liability in the consolidated condensed balance sheet at March 31, 2019. The Company was in compliance with the loan covenants at March 31, 2019. Accounts Receivable. A substantial portion of accounts receivable are due from collectibles dealers. No individual customer’s accounts receivable balance exceeded 10% of the Company’s total gross accounts receivable balances at March 31, 2019. One individual customer’s accounts receivable balance exceeded 10% of the Company’s total gross accounts receivable balances at June 30, 2018. We perform analyses of the expected collectability of accounts receivable based on several factors, including the age and extent of significant past due accounts and economic conditions or trends that may adversely affect the ability of debtors to pay their account receivable balances. Based on that review, we establish allowances for doubtful accounts, when deemed necessary. The allowances for doubtful accounts receivable were $74,000 and $80,000 at March 31, 2019 and June 30, 2018, respectively. Ultimately, we will write-off any accounts receivable balances when it is determined that there is no possibility of collection. Coin Revenues . The authentication, grading and sales of collectible coins, related services and coin product sales accounted for approximately 58% of our net revenues for the nine months ended March 31, 2019, as compared to 64% of our net revenues for the nine months ended March 31, 2018. Customers. Our top five customers accounted, in the aggregate, for approximately 13% and 11% of our total revenues in the three and nine months ended March 31, 2019 as compared to 13% and 18% of revenues in the same periods of the prior year. During the nine months ended March 31, 2018 our banking channel customer in China accounted for approximately 8% of total net revenues, however, there were no submissions from this customer in the current year periods.
Inventory, Policy [Policy Text Block]	Inventories Our inventories consist primarily of (i) coins which we have purchased pursuant to our coin authentication and grading warranty program and (ii) consumable supplies and special inserts that we use in our continuing authentication and grading businesses. Coin collectibles inventories are recorded at the lower of cost or net realizable value using the specific identification method. Consumable supplies are recorded at the lower of cost (using the first -in first -out method) or market. Inventories are periodically reviewed to identify slow-moving items, and an allowance for inventory losses is recognized, as considered necessary. It is possible that our estimates of market value of collectible coins in inventory could change due to market conditions in the various collectibles markets served by the Company, which could require us to increase that allowance for inventory losses.
Research, Development, and Computer Software, Policy [Policy Text Block]	Capitalized Software We capitalize certain costs incurred in the development and upgrading of our software, either from internal or external sources, as part of intangible assets and we amortize these costs on a straight-line basis over the estimated useful life of the software of three years. In the three and nine months ended March 31, 2019, we capitalized approximately $319,000 and $787,000, respectively, of software development costs as compared to $213,000 and $720,000, respectively, in the three and nine months ended March 31, 2018. In the three and nine months ended March 31, 2019, we recorded approximately $243,000 and $672,000, respectively, as amortization expense for capitalized software as compared to $180,000 and $509,000, respectively, in the three and nine months ended March 31, 2018. Planning, training, support and maintenance costs incurred either prior to or following the implementation phase of software development projects are recognized as expense in the period in which they are incurred. We evaluate the carrying value of capitalized software for possible impairment, and, if necessary, an impairment loss is recorded in the period in which any impairment is determined to have occurred.
Standard Product Warranty, Policy [Policy Text Block]	Warranty Costs We provide a limited warranty covering the coins and trading cards that we authenticate and grade. Under the warranty, if any collectible coin or trading card that was previously authenticated and graded by us is later submitted to us for re-grading and either (i) receives a lower grade upon that re-submittal or (ii) is determined not to have been authentic, we will offer to purchase the collectible or, in the alternative, at the customer’s option, pay the difference in value of the item at its original grade, as compared to its value at its lower grade. However, this warranty is voided if the collectible, upon re-submittal to us, is not in the same tamper-evident holder in which it was placed at the time we last graded it. We accrue for estimated warranty costs based on historical trends and related experience. We monitor the adequacy of our warranty reserves on an ongoing basis for significant claims resulting from resubmissions receiving lower grades or deemed not to have been authentic. Warranty expense recognized in the three and nine months ended March 31, 2019 was $73,000 and $402,000, respectively, as compared to $128,000 and $343,000, respectively, in the three and nine months ended March 31, 2018.
Stockholders' Equity, Policy [Policy Text Block]	Dividends In accordance with the Company’s current quarterly dividend policy, we paid quarterly cash dividends of $0.175 per share of common stock in the third quarter of fiscal 2019. The declaration of cash dividends in the future is subject to final determination each quarter by the Board of Directors based on a number of factors, including the Company’s financial performance and its available cash resources, its cash requirements and alternative uses of cash that the Board may conclude would represent an opportunity to generate a greater return on investment for the Company.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In February 2016, FASB issued Accounting Standards Update 2016 - 02 on Accounting for Leases . The core principle of this guidance is that a lessee should recognize the assets and liabilities that arise from leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. The adoption of this guidance is expected to have a material effect on the Company’s consolidated financial statement and related disclosures. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods thereafter. Early adoption is permitted.

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Note 2 - Inventories (Tables)

9 Months Ended

Mar. 31, 2019

Schedule of Inventory, Current [Table Text Block]

	March 31 ,			June 30,
	201 9			201 8
Coins and cards	$	484		$	490
Grading raw materials consumable inventory		3,159			3,303
		3,643			3,793
Less inventory reserve		(1,349	)		(1,214	)
Inventories, net	$	2,294		$	2,579

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Note 3 - Property and Equipment (Tables)

9 Months Ended

Mar. 31, 2019

Property, Plant and Equipment [Table Text Block]

	March 31 ,			June 30,
	201 9			201 8
Coins grading reference sets	$	240		$	263
Computer hardware and equipment		2,273			2,075
Computer software		1,614			1,531
Equipment		5,111			4,661
Furniture and office equipment		938			925
Leasehold improvements		4,713			4,711
Trading card reference library		52			52
		14,941			14,218
Less accumulated depreciation and amortization		(7,238	)		(5,840	)
Property and equipment, net	$	7,703		$	8,378

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Note 4 - Accrued Liabilities (Tables)

9 Months Ended

Mar. 31, 2019

Schedule of Accrued Liabilities [Table Text Block]

	March 31 ,		June 30,
	201 9		201 8
Warranty reserves	$	728	$	862
Professional fees		120		151
Other		837		985
	$	1,685	$	1,998

Schedule of Product Warranty Liability [Table Text Block]

	Nine Months Ended March 31 ,
	201 9			201 8
Warranty reserve beginning of period	$	862		$	834
Provision charged to cost of revenues		402			343
Payments		(536	)		(583	)
Warranty reserve, end of period	$	728		$	594

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Note 6 - Net Income Per Share (Tables)

9 Months Ended

Mar. 31, 2019

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Three Months Ended March 31,				Nine Months Ended March 31,
	201 9		201 8		201 9		201 8
Weighted average shares outstanding: Basic		8,938		8,703		8,936		8,651
Dilutive effect of restricted shares		28		199		22		204
Weighted average shares outstanding: Diluted		8,966		8,902		8,958		8,855

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Note 7 - Business Segments (Tables)

9 Months Ended

Mar. 31, 2019

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	201 9			201 8			201 9			201 8
Net revenues from external customers:
Coins (1)	$	11,512		$	10,780		$	30,512		$	32,817
Trading cards and autographs		6,746			5,449			18,852			15,192
Other		1,213			1,283			3,306			3,319
Consolidated total revenue	$	19,471		$	17,512		$	52,670		$	51,328
Amortization and depreciation:
Coins	$	348		$	271		$	1,002		$	652
Trading cards and autographs		150			123			431			265
Other		112			143			357			420
Total		610			537			1,790			1,337
Unallocated amortization and depreciation		93			121			342			275
Consolidated amortization and depreciation	$	703		$	658		$	2,132		$	1,612
Stock-based compensation:
Coins	$	44		$	152		$	100		$	266
Trading cards and autographs		12			16			22			47
Other		9			21			24			42
Total		65			189			146			355
Unallocated stock-based compensation		187			312			574			596
Consolidated stock-based compensation	$	252		$	501		$	720		$	951
Operating income:
Coins	$	3,652		$	2,077		$	7,506		$	7,434
Trading cards and autographs		2,001			1,385			5,273			3,879
Other		285			302			959			820
Total		5,938			3,764			13,738			12,133
Unallocated operating expenses		(1,173	)		(1,778	)		(3,932	)		(5,386	)
Consolidated operating income	$	4,765		$	1,986		$	9,806		$	6,747

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

	March 31 ,		June 30,
	201 9		201 8
Identifiable Assets:
Coins	$	10,358	$	10,905
Trading cards and autographs		3,630		3,877
Other		2,546		2,944
Total		16,534		17,726
Unallocated assets		19,502		14,488
Consolidated assets	$	36,036	$	32,214
Goodwill:
Coins	$	515	$	515
Other		1,568		1,568
Consolidated goodwill	$	2,083	$	2,083

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Note 1 - Summary of Significant Accounting Policies (Details Textual)			1 Months Ended				3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2018 USD ($) shares	Sep. 15, 2017 USD ($)	Oct. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Dec. 31, 2017 USD ($) shares	Jan. 31, 2017 USD ($)	Mar. 31, 2019 USD ($) $ / shares	Mar. 31, 2018 USD ($)	Mar. 31, 2019 USD ($) shares	Mar. 31, 2018 USD ($)	Jun. 30, 2018 USD ($) shares	Jun. 30, 2017 USD ($)
Contract with Customer, Liability, Revenue Recognized							$ 437,000		$ 2,746,000
Contract with Customer, Liability, Total	$ 3,213,000										$ 3,213,000
Goodwill and Intangible Asset Impairment, Total									0
Share-based Payment Arrangement, Expense							252,000	$ 501,000	720,000	$ 951,000
Cash and Cash Equivalents, at Carrying Value, Ending Balance	10,581,000						15,716,000	9,179,000	15,716,000	9,179,000	10,581,000	$ 9,826,000
Money Market Funds, at Carrying Value							12,113,000		12,113,000
Other Cash Equivalents, at Carrying Value							3,603,000		3,603,000
Cash, Ending Balance							1,122,000		1,122,000
Cash, Uninsured Amount							13,674,000		13,674,000
Long-term Debt, Excluding Current Maturities, Total	2,438,000						1,875,000		1,875,000		2,438,000
Accounts Receivable, Allowance for Credit Loss, Current	$ 80,000						74,000		74,000		$ 80,000
Capitalized Computer Software, Additions							319,000	213,000	787,000	720,000
Capitalized Computer Software, Amortization							243,000	180,000	672,000	509,000
Product Warranty Expense							$ 73,000	$ 128,000	$ 402,000	$ 343,000
Common Stock, Dividends, Per Share, Cash Paid \| $ / shares							$ 0.175
Accounts Receivable [Member] \| Customer Concentration Risk [Member]
Number of Major Customers									0
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| One Customer [Member]
Number of Major Customers											1
Revenue from Contract with Customer Benchmark [Member] \| Customer Concentration Risk [Member]
Number of Major Customers									5
Revenue from Contract with Customer Benchmark [Member] \| Customer Concentration Risk [Member] \| Five Customers [Member]
Concentration Risk, Percentage							13.00%	13.00%	11.00%	18.00%
Revenue from Contract with Customer Benchmark [Member] \| Customer Concentration Risk [Member] \| One China Customer [Member]
Concentration Risk, Percentage										8.00%
Unsecured Debt [Member] \| CB&T [Member]
Debt Instrument, Term		5 years		4 years
Debt Agreement, Maximum Borrowing Capacity		$ 3,500,000
Long-term Debt, Total		$ 3,000,000		$ 3,000,000			$ 2,625,000		$ 2,625,000
Debt Instrument, Number of Payments			48
Debt Instrument, Periodic Payment, Principal			$ 62,500
Debt Instrument, Periodic Payment, Principal, Annual Basis			$ 750,000
Other Long-term Debt, Current							750,000		750,000
Revolving Credit Facility [Member] \| California Bank and Trust [Member]
Debt Instrument, Term						3 years
Line of Credit Facility, Maximum Borrowing Capacity						$ 10,000,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage						0.0625%
Line of Credit Facility, Average Outstanding Amount						$ 4,000,000
Long-term Line of Credit, Total							0		0
Revolving Credit Facility [Member] \| California Bank and Trust [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate						2.25%
Revolving Credit Facility [Member] \| California Bank and Trust [Member] \| Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate						0.25%
CHINA
Cash, Ending Balance							670,000		$ 670,000
Retention Shares, Annual Grants [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period \| shares									54,144		21,090
Finite-Lived Intangible Asset, Useful Life									3 years
Retention Shares, One Time Grants [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period \| shares					21,090
Retention Shares, One Time Grants [Member] \| Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period \| shares	10,545
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period \| shares					42,180
Share-based Payment Arrangement, Expense					$ 0		$ 35,000		$ 45,000
Authentication and Grading Services [Member]
Revenue from Contract with Customer, Percentage											88.00%	88.00%
Coins [Member] \| Revenue from Contract with Customer Benchmark [Member] \| Product Concentration Risk [Member]
Concentration Risk, Percentage									58.00%	64.00%

XML 35 R24.htm IDEA: XBRL DOCUMENT

Note 2 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Inventory, gross	$ 3,643	$ 3,793
Less inventory reserve	(1,349)	(1,214)
Inventories, net	2,294	2,579
Coins [Member]
Inventory, gross	484	490
Grading Raw Materials Consumable [Member]
Inventory, gross	$ 3,159	$ 3,303

XML 36 R25.htm IDEA: XBRL DOCUMENT

Note 3 - Property and Equipment (Details Textual) - USD ($)	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Leasehold Improvements Contributed by Landlord		$ 2,949,000
New Corporate Headquarter [Member]
Leasehold Improvements, Gross		4,144,000
Leasehold Improvements Contributed by Landlord		$ 2,949,000

XML 37 R26.htm IDEA: XBRL DOCUMENT

Note 3 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Property and equipment, gross	$ 14,941	$ 14,218
Less accumulated depreciation and amortization	(7,238)	(5,840)
Property and equipment, net	7,703	8,378
Coins Grading Reference Sets [Member]
Property and equipment, gross	240	263
Computer Equipment [Member]
Property and equipment, gross	2,273	2,075
Computer Software [Member]
Property and equipment, gross	1,614	1,531
Equipment [Member]
Property and equipment, gross	5,111	4,661
Furniture and Office Equipment [Member]
Property and equipment, gross	938	925
Leasehold Improvements [Member]
Property and equipment, gross	4,713	4,711
Trading Card Reference Library [Member]
Property and equipment, gross	$ 52	$ 52

XML 38 R27.htm IDEA: XBRL DOCUMENT

Note 4 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Warranty reserves	$ 728	$ 862
Professional fees	120	151
Other	837	985
	$ 1,685	$ 1,998

XML 39 R28.htm IDEA: XBRL DOCUMENT

Note 4 - Accrued Liabilities - Warranty Reserve Activity (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Balance, Warranty reserve	$ 862	$ 834
Provision charged to cost of revenues	402	343
Payments	(536)	(583)
Balance, Warranty reserve	$ 728	$ 594

XML 40 R29.htm IDEA: XBRL DOCUMENT

Note 5 - Income Taxes (Details Textual)	3 Months Ended		9 Months Ended
Note 5 - Income Taxes (Details Textual)	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Effective Income Tax Rate Reconciliation, Percent, Total	25.00%	30.00%	26.00%	24.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%	28.00%

XML 41 R30.htm IDEA: XBRL DOCUMENT

Note 6 - Net Income Per Share (Details Textual) - shares	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	10,000	50,000
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	120,000

XML 42 R31.htm IDEA: XBRL DOCUMENT

Note 6 - Net Income Per Share - Computation of Basic and Diluted Net Loss Per Common Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Weighted average shares outstanding: Basic (in shares)	8,938	8,703	8,936	8,651
Weighted average shares outstanding: Diluted (in shares)	8,966	8,902	8,958	8,855
Restricted Stock [Member]
Dilutive effect of restricted shares (in shares)	28	199	22	204

XML 43 R32.htm IDEA: XBRL DOCUMENT

Note 7 - Business Segments (Details Textual) $ in Thousands	3 Months Ended		9 Months Ended
Note 7 - Business Segments (Details Textual) $ in Thousands	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)
Number of Reportable Segments			3
Revenue from Contract with Customer, Including Assessed Tax	$ 19,471	$ 17,512	$ 52,670	$ 51,328
Non-US [Member] \| Coins [Member] \| Service [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 1,900	$ 2,000	$ 5,200	$ 9,100

XML 44 R33.htm IDEA: XBRL DOCUMENT

Note 7 - Business Segments - Segment Reporting Information (Details) - USD ($)

3 Months Ended

9 Months Ended

Mar. 31, 2019

Mar. 31, 2018

Mar. 31, 2019

Mar. 31, 2018

$ 19,471,000

$ 17,512,000

$ 52,670,000

$ 51,328,000

703,000

658,000

2,132,000

1,612,000

252,000

501,000

720,000

951,000

Operating Segments [Member]

4,765,000

1,986,000

9,806,000

6,747,000

610,000

537,000

1,790,000

1,337,000

65,000

189,000

146,000

355,000

Segment Reconciling Items [Member]

5,938,000

3,764,000

13,738,000

12,133,000

93,000

121,000

342,000

275,000

187,000

312,000

574,000

596,000

Coins [Member] | Operating Segments [Member]

(1,173,000)

(1,778,000)

(3,932,000)

(5,386,000)

^[1]

11,512,000

10,780,000

30,512,000

32,817,000

348,000

271,000

1,002,000

652,000

44,000

152,000

100,000

266,000

Trading Cards and Autographs [Member] | Operating Segments [Member]

3,652,000

2,077,000

7,506,000

7,434,000

6,746,000

5,449,000

18,852,000

15,192,000

150,000

123,000

431,000

265,000

12,000

16,000

22,000

47,000

Other Segments [Member] | Operating Segments [Member]

2,001,000

1,385,000

5,273,000

3,879,000

1,213,000

1,283,000

3,306,000

3,319,000

112,000

143,000

357,000

420,000

9,000

21,000

24,000

42,000