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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LnqCqjSYO0cA+ssVjJ4xS2/htv1Ho6Ae+nnPsNTYa+EEqhlfYf/qqRU7+BvUESFw
 1UGNI/nZ3pYVDh3kNshvcA==

<SEC-DOCUMENT>0001089355-03-000335.txt : 20030717
<SEC-HEADER>0001089355-03-000335.hdr.sgml : 20030717
<ACCEPTANCE-DATETIME>20030716192920
ACCESSION NUMBER:		0001089355-03-000335
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030703
FILED AS OF DATE:		20030717

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ESMAIL AMEEN
		CENTRAL INDEX KEY:			0001254573

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-05703
		FILM NUMBER:		03790076

	MAIL ADDRESS:	
		STREET 1:		C/O SIEBERT FINANCIAL CORP.
		STREET 2:		885 THIRD AVENUE, SUITE 1720
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SIEBERT FINANCIAL CORP
		CENTRAL INDEX KEY:			0000065596
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				111796714
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		885 THIRD AVENUE
		STREET 2:		SUITE 1720
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2126442400

	MAIL ADDRESS:	
		STREET 1:		885 THIRD AVENUE
		STREET 2:		SUITE 1720
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MICHAELS J INC
		DATE OF NAME CHANGE:	19950221
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>siebertform38314_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   04/22/03  TZ    -->
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>3</documentType>
   <periodOfReport>2003-07-03</periodOfReport>
    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000065596</issuerCik>
        <issuerName>SIEBERT FINANCIAL CORP</issuerName>
        <issuerTradingSymbol>SIEB</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
      <reportingOwnerId>
            <rptOwnerCik>0001254573</rptOwnerCik>
            <rptOwnerName>ESMAIL AMEEN</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>1</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
         <officerTitle>Executive Vice President</officerTitle>
       </reportingOwnerRelationship>
   </reportingOwner>
   <derivativeSecurity>
      <securityTitle>
         <value>Options to purchase common stock, $.01 par value per share</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>5.06</value>
      </conversionOrExercisePrice>
      <exerciseDate>
         <value>2004-07-03</value>
            <footnoteId id="F1"/>
      </exerciseDate>
      <expirationDate>
         <value>2013-07-03</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Stock, $.01 par value per share</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>25000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeSecurity>
   <footnotes>
<footnote id="F1"> These options will vest and become exercisable as to 5,000 shares on each of July 3, 2004, July 3, 2005, July 3, 2006, July 3, 2007 and July 3, 2008.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>/s/ Ameen Esmail</signatureName>
      <signatureDate>2003-07-16</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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