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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001010549-05-000664.txt : 20050927
<SEC-HEADER>0001010549-05-000664.hdr.sgml : 20050927
<ACCEPTANCE-DATETIME>20050927103815
ACCESSION NUMBER:		0001010549-05-000664
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050923
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20050927
DATE AS OF CHANGE:		20050927

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DGSE COMPANIES INC
		CENTRAL INDEX KEY:			0000701719
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-JEWELRY STORES [5944]
		IRS NUMBER:				880097334
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11048
		FILM NUMBER:		051104306

	BUSINESS ADDRESS:	
		STREET 1:		2817 FOREST LANE
		STREET 2:		STE 202
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
		BUSINESS PHONE:		9724843662

	MAIL ADDRESS:	
		STREET 1:		2817 FOREST LN
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DALLAS GOLD & SILVER EXCHANGE INC /NV/
		DATE OF NAME CHANGE:	19930114

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN PACIFIC MINT INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CANYON STATE CORP
		DATE OF NAME CHANGE:	19860819
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>dgse8k092205.txt
<TEXT>

                                  UNITED STATES
                       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):September 23, 2005



                              DGSE COMPANIES, INC.
                              --------------------
             (Exact name of registrant as specified in its charter)




                                     NEVADA
                                     ------
                 (State or other jurisdiction of incorporation)





        1-11048                                          88-0097334
        -------                                          ----------
(Commission file number)                    (IRS employer identification number)




                      2817 Forest Lane, Dallas, Texas 75234
                      -------------------------------------
                     (Address of principal executive office)




        Registrant's telephone number, including area code: (972)484-3662

<PAGE>

Section 8 - Other Events

Item 8.01 Other Events

DALLAS,  Texas  (September 27, 2005) - DGSE Companies,  Inc.  (Nasdaq:  "DGSE"),
which wholesales, retails and auctions fine watches, jewelry, diamonds, precious
metal and rare coin products via traditional and Internet channels, operates two
consumer pawn operations in Dallas,  Texas and three American Pay Day Centers in
New Mexico today  announced that it had retained the Dallas  investment  banking
firm of Southwest Securities,  Inc. to explore strategic alternatives to enhance
shareholder value, which may include the possible sale of the Company.

"We are pleased to announce that we have engaged Southwest Securities,  a member
of the New York Stock Exchange,  to help us find  comprehensive ways to increase
our  shareholder  value." said William H. Oyster,  President and Chief Operating
Officer of DGSE  Companies,  Inc.  Mr.  Oyster  continued,  "We believe that our
publicly  traded  securities do not reflect the inherent  value of the Company's
activities.  The engagement of Southwest  Securities will give us an opportunity
to professionally examine a range of short term and long term possibilities."

DGSE Companies,  Inc.  wholesales,  retails and auctions fine watches,  jewelry,
diamonds,  precious  metal and rare coin products to domestic and  international
customers  through its Dallas Gold and Silver  Exchange and Charleston  Gold and
Diamond Exchange subsidiaries,  as well as through the internet.  DGSE also owns
Fairchild  International,  Inc., one of the largest vintage watch wholesalers in
the  country.   The  Company's  Consumer  Finance  Division  operates  two  pawn
operations in Dallas, Texas and three American Pay Day Centers in New Mexico. In
addition to its retail  facilities,  the Company operates live Internet auctions
which can be accessed at www.dgse.com.  Real-time price quotations and real-time
order  execution  in precious  metals are  provided on another  DGSE web site at
www.USBullionExchange.com. Wholesale customers can access our full vintage watch
inventory through the restricted site at www.FairchildWatches.com.


                                    SIGNATURE

In accordance  with section 13 and 15(d) of the Exchange Act, the Registrant has
dully caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.


                                            DGSE COMPANIES, Inc.

                                             /s/ Dr. L.S. Smith
                                            ------------------------------------
                                            Dr. L.S. Smith
                                            Chairman of the Board
Dated: September 27, 2005
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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