Exhibit 99.1

For Immediate Release
---------------------

             DGSE COMPANIES, INC. ANNOUNCES EXECUTION OF DEFINITIVE
                 AGREEMENT TO ACQUIRE SUPERIOR GALLERIES, INC.

DALLAS, Texas (July 17, 2006) - DGSE Companies, Inc. (Nasdaq: "DGSE"), which
wholesales, retails and auctions fine watches, jewelry, diamonds and precious
metal and rare coin products via traditional and Internet channels, today
announced that it has executed a definitive agreement to acquire all of the
issued and outstanding stock of Superior Galleries, Inc. (OTCBB: "SPGR") in a
transaction valued at $14,000,000. The acquisition is intended to enhance DGSE's
already robust rare coin and precious metals businesses and bring together two
established and diversified tangible asset dealers. Superior's current facility
will provide the combined enterprise with a Beverly Hills, California location
to expand DGSE's jewelry, diamond and fine watch businesses. Equally important
will be the combined strength of DGSE and Superior in the live and internet
auction sectors.

The acquisition agreement provides for the merger of Superior into a
wholly-owned subsidiary of DGSE Companies, Inc. in an all-stock transaction that
will be priced at a weighted average closing price of DGSE's common stock for
the 20 trading days prior to closing, subject to a maximum issuance of 7,368,421
shares and a minimum issuance of 4,307,692 shares of DGSE common stock. Upon
successful completion of the acquisition, Superior shareholders will own between
47 percent and 60 percent of the outstanding shares of the combined entity.
Stanford Financial Group Company or one of its affiliates will become the
largest stockholder of DGSE.

The acquisition is subject to a number of closing conditions, including Superior
undergoing a major restructuring of its balance sheet which will reduce its
total outstanding debt by at least $5,500,000. It is also contemplated that
Stanford Financial Group Company, Superior's primary lender and an affiliate of
Superior's largest stockholder, will provide a new secured credit facility of
$11,500,000, with at least $6,000,000 available to DGSE and all of its
subsidiaries.

Current DGSE management will be responsible for managing all operations of the
combined companies. DGSE expects substantial continuity in the Superior staff.
DGSE intends to expand the Superior numismatic auction business, leveraging the
extensive experience and ongoing participation of its management team.
Superior's current CEO, Silvano DiGenova, will remain with the new enterprise as
the Managing Director-Numismatics, and Larry Abbott will remain as Executive
Vice-President of Auctions and Sales at Superior.

The acquisition will enhance the size of DGSE and diversify its activities,
making it one of the nation's largest rare coin firms. Upon the completion of
the acquisition, the inventory at the current showroom facility of Superior will
be significantly expanded to include a full inventory of jewelry, diamonds and
fine watches. In addition, with Superior's national and international activities
and through a preferred provider agreement with Stanford Coin and Bullion, DGSE
expects to increase substantially its wholesale and retail precious metals
business. Superior plans to expand its dynamic internet website (www.SGBH.com)
significantly and to integrate the website with DGSE's websites - www.DGSE.com,
www.USBullionExchange.com, www.FairchildWatches.com (Fairchild International),
and www.CGDEInc.com (Charleston Gold & Diamond Exchange).



Silvano DiGenova, current Chief Executive Officer of Superior said, "As one of
the largest stockholders of DGSE after this transaction is completed, I am
extremely pleased with this combination. With enhanced capital and diversified
operations supported by expertise in auctions, retail, wholesale and internet,
we should be able to make new advances in the coin, precious metals and jewelry
sectors. Additionally, the combined entities will enjoy economies of scale and
the elimination of redundancy in regulatory compliance expenses."

"We view this transaction as a major opportunity for DGSE and its shareholders,"
noted William H. Oyster, President and Chief Operating Officer of DGSE
Companies, Inc. Mr. Oyster continued, "The fastest growing segment of our
business has been the rare coin business and acquiring Superior will give us
depth of operations, experienced personnel, and entry into the attractive
auction sector. With revenues for the combined entities more than double our
current level, substantial financing in place and a history that can be traced
to 1930, we believe that the infrastructure is in place to have a major impact
on our revenues and earnings."

DGSE and Superior expect the acquisition to close late in October 2006, subject
to the satisfaction or waiver of the various closing conditions in the
acquisition agreement.

Additional Information and Where to Find It

In connection with the proposed acquisition, DGSE and Superior intend to file
relevant materials with the SEC. DGSE and Superior each have filed a current
report on Form 8-K related to the proposed acquisition on or before the date of
this release. In the near future, DGSE intends to file a registration statement
on Form S-4, which will contain a prospectus and related materials to register
the DGSE common stock to be issued in the proposed acquisition, and a joint
proxy statement, which DGSE and Superior plan to mail to their respective
stockholders in connection with the approval of the proposed acquisition by
their respective stockholders.

The current report contains, and the registration statement and the joint proxy
statement/prospectus included therein will contain, important information about
DGSE, Superior, the proposed acquisition and related matters. INVESTORS AND
SECURITY HOLDERS ARE URGED TO READ THE FILINGS CAREFULLY WHEN THEY ARE
AVAILABLE. Investors and security holders will be able to obtain free copies of
these documents (when they become available) and other documents filed with the
SEC at the SEC's web site at www.sec.gov or by calling the SEC at
1-800-SEC-0330. In addition, investors and security holders may obtain free
copies of the documents filed by DGSE with the SEC by contacting DGSE Investor
Relations at (972) 484-3662.

Participation in Solicitations

DGSE and its directors and executive officers also may be deemed to be
participants in the solicitation of proxies from the stockholders of DGSE in
connection with the proposed transaction described herein. Information regarding
the special interests of these directors and executive officers in the
transaction described herein will be included in the joint proxy
statement/prospectus described above. Additional information regarding these
directors and executive officers is also included in DGSE's proxy statement for
its 2006 Annual Meeting of Stockholders, which was filed with the SEC on or



about June 23, 2006. This document is available free of charge at the SEC's web
site at www.sec.gov and from DGSE by contacting DGSE Investor Relations at (972)
484-3662.

Superior and its directors and executive officers also may be deemed to be
participants in the solicitation of proxies from the stockholders of DGSE in
connection with the proposed transaction described herein. Information regarding
the special interests of these directors and executive officers in the
transaction described herein will be included in the joint proxy
statement/prospectus described above. Additional information regarding these
directors and executive officers is also included in Superior's proxy statement
for its 2005 Annual Meeting of Stockholders, which was filed with the SEC on or
about October 6, 2005. This document is available free of charge at the SEC's
web site at www.sec.gov and from Superior by contacting Superior Investor
Relations at (800) 421-0754.

About DGSE Companies, Inc.

DGSE Companies, Inc. wholesales and retails jewelry, diamonds, fine watches and
precious metal bullion products and rare coins to domestic and international
customers through its Dallas Gold and Silver Exchange and Charleston Gold and
Diamond Exchange subsidiaries and well as through the Internet and World Wide
Web. DGSE also owns Fairchild International, Inc., one of the largest vintage
watch wholesalers in the country. In addition to its retail facilities, the
Company has online stores and conducts live Internet auctions which can be
accessed at www.dgse.com and www.CGDEInc.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.

The Company is headquartered in Dallas, Texas and its common stock trades on The
Nasdaq Stock Market(R) under the symbol "DGSE".

About Superior Galleries, Inc.

Superior Galleries, Inc. is a publicly traded company, acting as a dealer and
auctioneer of rare coins and other fine collectibles. Headquartered in Beverly
Hills, California, the firm markets its products through auctions (both live
events and on the World Wide Web), its nationwide sales force, its gallery in
Beverly Hills and via the company's web site at www.SGBH.com.

Stanford Coins & Bullion is a member of the Stanford Financial Group, an
international network of affiliated companies that together form a powerful
resource of financial services. Located in Houston, Texas, the company markets
its products through its retail sales force and the company's web site.

Safe Harbor for Forward-Looking Statements. This press release contains
statements regarding the proposed transaction between DGSE and Superior, the
expected timetable for completing the transaction, future financial and
operating results, benefits and synergies of the proposed transaction, the
ability of DGSE to integrate the business, operations and personnel of Superior
following the acquisition, and other statements about DGSE and Superior's
managements' future expectations, beliefs, goals, plans or prospects that are
based on current expectations, estimates, forecasts and projections about DGSE
and Superior and the combined company, as well as DGSE's and Superior's and the
combined company's future performance and the industries in which DGSE and
Superior operate and the combined company will operate, in addition to



managements' assumptions. These statements constitute forward-looking statements
within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Words such as "expects," "anticipates," "targets," "goals," "projects,"
"intends," "plans," "believes," "seeks," "estimates," "will" and variations of
such words and similar expressions are intended to identify such forward-looking
statements which are not statements of historical facts. These forward-looking
statements are not guarantees of future performance and involve certain risks,
uncertainties and assumptions that are difficult to assess. Therefore, actual
outcomes and results may differ materially from what is expressed or forecasted
in such forward-looking statements. These risks and uncertainties are based upon
a number of important factors including, among others: the ability to consummate
the proposed acquisition; potential difficulties in otherwise meeting closing
conditions set forth in the definitive merger agreement entered into by DGSE and
Superior; difficulties and delays in obtaining regulatory approvals for the
proposed acquisition; difficulties and delays in integration or achieving
synergies and cost savings; difficulties regarding the execution of the business
plan for the combined companies; continued acceptance of the DGSE's products and
services in the marketplace; competitive factors; the cooperation and support of
the companies' lenders for the proposed acquisition; fluctuations in the
secondhand market; existing and future litigation; and other risks detailed in
the companies' respective periodic report filings with the SEC. For a list and
description of risks and uncertainties relating to DGSE and Superior and their
respective businesses, refer to DGSE's Form 10-K for the year ended December 31,
2005 and Superior's Form 10-K for the year ended June 30, 2005, as well as other
filings by DGSE and Superior with the SEC. These forward-looking statements
speak only as of the date of this release and, except as required under the U.S.
federal securities laws and the rules and regulations of the SEC, DGSE disclaims
any intention or obligation to update any forward-looking statements after the
distribution of this press release, whether as a result of new information,
future events, developments, changes in assumptions or otherwise.



                    For further information, please contact:
         William H. Oyster, President and COO of DGSE at (800) 527-5307