-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 EGshx8clKVdVGCFDQV/6wPuay+I0dF5JAz1Cjlv3GxGcK7uHs+GnPpJ3n7GTG+7k
 vIKTRYYnWykRE/QQWXojPg==

<SEC-DOCUMENT>0001230245-04-000086.txt : 20040520
<SEC-HEADER>0001230245-04-000086.hdr.sgml : 20040520
<ACCEPTANCE-DATETIME>20040520122341
ACCESSION NUMBER:		0001230245-04-000086
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040517
FILED AS OF DATE:		20040520

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CLAYTON PAMELA L
		CENTRAL INDEX KEY:			0001271856

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31720
		FILM NUMBER:		04820628

	MAIL ADDRESS:	
		STREET 1:		800 NICOLLET MALL
		STREET 2:		J1012057
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402-7020

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIPER JAFFRAY COMPANIES
		CENTRAL INDEX KEY:			0001230245
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]

	BUSINESS ADDRESS:	
		STREET 1:		800 NICOLETT MALL
		STREET 2:		J1012057
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402-7020
		BUSINESS PHONE:		6123056000

	MAIL ADDRESS:	
		STREET 1:		800 NICOLETT MALL
		STREET 2:		J1012057
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402-7020
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-05-17</periodOfReport>

    <issuer>
        <issuerCik>0001230245</issuerCik>
        <issuerName>PIPER JAFFRAY COMPANIES</issuerName>
        <issuerTradingSymbol>PJC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001271856</rptOwnerCik>
            <rptOwnerName>CLAYTON PAMELA L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>800 NICOLLET MALL</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 800</rptOwnerStreet2>
            <rptOwnerCity>MINNEAPOLIS</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55402</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Head of Human Resources</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2004-05-17</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2004-05-18</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>I</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>192</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>46.84</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>192</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Retirement Plan</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>896</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>242</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By IRA</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes></footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>James L. Chosy for Pamela L. Clayton</signatureName>
        <signatureDate>2004-05-20</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----