DGSE ANNOUNCES CHANGE OF INDEPENDENT ACCOUNTANTS

DALLAS, June 4, 2012 (BUSINESS WIRE) -- DGSE Companies, Inc. (the “Company”) announced today that, effective May 29, 2012, the audit committee of the board of directors of the Company dismissed Cornwell Jackson and Company, P.C. as its independent accounting firm.  Also effective May 29, 2012, the Company engaged Whitley Penn, LLP to serve as the Company’s independent accounting firm on an ongoing basis.

About DGSE Companies, Inc.

DGSE Companies, Inc. wholesales and retails jewelry, diamonds, fine watches, and precious metal bullion and rare coin products through its Bullion Express, Charleston Gold & Diamond Exchange, Dallas Gold & Silver Exchange, and Southern Bullion Coin & Jewelry operations. DGSE also owns Fairchild International, Inc., one of the largest vintage watch wholesalers in the country. In addition to its retail facilities in Alabama, California, Florida, Georgia, Illinois, North Carolina, South Carolina, Tennessee and Texas, the Company operates internet websites which can be accessed at www.bullionexpress.com , www.dgse.com , www.cgdeinc.com , www.sbcoin.com and www.sgde.com . Real-time price quotations and real-time order execution in precious metals are provided on another DGSE website at www.USBullionExchange.com . Wholesale customers can access the full vintage watch inventory through the restricted site at www.FairchildWatches.com .

The Company is headquartered in Dallas, Texas and its common stock trades on NYSE Amex Exchange under the symbol "DGSE."

Investor relations contact: William H. Oyster, 800.527.5307.