<SEC-DOCUMENT>0001181431-13-001897.txt : 20130104
<SEC-HEADER>0001181431-13-001897.hdr.sgml : 20130104
<ACCEPTANCE-DATETIME>20130104200915
ACCESSION NUMBER:		0001181431-13-001897
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20130102
FILED AS OF DATE:		20130104
DATE AS OF CHANGE:		20130104

ISSUER:		

	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

	BUSINESS ADDRESS:	
		STREET 1:		11311 REEDER ROAD
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75229
		BUSINESS PHONE:		9724843662

	MAIL ADDRESS:	
		STREET 1:		11311 REEDER ROAD
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75229

	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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Elemetal, LLC
		CENTRAL INDEX KEY:			0001566077
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11048
		FILM NUMBER:		13513483

	BUSINESS ADDRESS:	
		STREET 1:		15850 DALLAS PARKWAY
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75248
		BUSINESS PHONE:		(469) 522-1111

	MAIL ADDRESS:	
		STREET 1:		15850 DALLAS PARKWAY
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75248
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>rrd366040.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2013-01-02</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000701719</issuerCik>
        <issuerName>DGSE COMPANIES INC</issuerName>
        <issuerTradingSymbol>DGSE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001566077</rptOwnerCik>
            <rptOwnerName>Elemetal, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>15850 DALLAS PARKWAY</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75248</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4393142</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Call Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2013-01-02</value>
            </exerciseDate>
            <expirationDate>
                <value>2016-10-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On January 2, 2013, the Reporting Person entered into a Contribution Agreement with NTR Metals, LLC (&quot;NTR&quot;), under which NTR agreed to transfer to the Reporting Person 4,393,142 Common Shares owned by NTR and an Option Grant Agreement, dated as of October 25, 2011, whereby the Issuer granted NTR options to purchase 5,000,000 Common Shares at an exercise price of $15.00 per share.  In exchange, the Reporting Person agreed to assign and transfer to NTR Class A Common Units of the Reporting Person.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Alan S. Buehler</signatureName>
        <signatureDate>2013-01-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
