The E-Sylum:  Volume 9, Number 30, July 23, 2006, Article 23

SUPERIOR GALLERIES SOLD

We recently discussed Superior Galleries' announcement that its
numismatic library would be made available to the public.  Now
the company itself has been made available -- for sale, to another
firm.

According to a press release, "On Monday, DGSE Companies Inc., a
wholesaler and retailer of Jewelry and rare coin products, revealed
that it has signed a definitive agreement to acquire Superior
Galleries Inc. for $14 million. The company said that, the acquisition,
by purchasing all outstanding shares of Superior, will diversify
Superior's product lines and achieve cost efficiencies. The transaction
is expected to close late in October 2006.

The Dallas, Texas based company stated that Superior's current facility
would provide the combined entity with a Beverly Hills, California
location to expand DGSE's jewelry, diamond and fine watch businesses."

"DGSE said that its present management would manage all operations of the
combined entity and expects all staff of Superior to continue."

To read the complete press release, see: Full Story

[So who or what is DSGE?  According to Federal filings, "DGSE Companies,
Inc. wholesales and retails jewelry, diamonds, fine watches and precious
metal bullion products and rare coins to domestic and international
customers through its Dallas Gold and Silver Exchange and Charleston
Gold and Diamond Exchange subsidiaries and well as through the internet.
DGSE also owns Fairchild International, Inc., one of the largest
vintage watch wholesalers in the country."

Based in Dallas, the company grew out of Silverman Consultants, a
jewelry liquidation company.  The company reported $35M in sales in
2005.  L. S. Smith is listed as CEO and William H. Oyster as COO.
-Editor]

  Wayne Homren, Editor

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