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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001181431-07-060109.txt : 20071002
<SEC-HEADER>0001181431-07-060109.hdr.sgml : 20071002
<ACCEPTANCE-DATETIME>20071002182024
ACCESSION NUMBER:		0001181431-07-060109
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20071001
FILED AS OF DATE:		20071002
DATE AS OF CHANGE:		20071002

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COLLECTORS UNIVERSE INC
		CENTRAL INDEX KEY:			0001089143
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				330846191
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		COLLECTORS UNIVERSE, INC.
		STREET 2:		1921 E. ALTON AVENUE
		CITY:			SANTA ANA
		STATE:			CA
		ZIP:			92705
		BUSINESS PHONE:		9495671234

	MAIL ADDRESS:	
		STREET 1:		COLLECTORS UNIVERSE, INC.
		STREET 2:		1921 E. ALTON AVENUE
		CITY:			SANTA ANA
		STATE:			CA
		ZIP:			92705

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HAYNES MICHAEL R
		CENTRAL INDEX KEY:			0001214936

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-27887
		FILM NUMBER:		071151290

	MAIL ADDRESS:	
		STREET 1:		PO BOX 6280
		CITY:			NEWPORT
		STATE:			CA
		ZIP:			92658-6280
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd173948.xml
<DESCRIPTION>OCTOBER 1, 2007-EXERCISE OF OPTIONS
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-10-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001089143</issuerCik>
        <issuerName>COLLECTORS UNIVERSE INC</issuerName>
        <issuerTradingSymbol>CLCT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001214936</rptOwnerCik>
            <rptOwnerName>HAYNES MICHAEL R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>COLLECTORS UNIVERSE, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>P.O. BOX 6280</rptOwnerStreet2>
            <rptOwnerCity>NEWPORT BEACH</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92658-6280</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-10-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>3.25</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>105144</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.25</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-10-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2004-01-06</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-01-06</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>25200</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>19200</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">&quot;Includes previously reported issuances to Mr. Haynes of shares subject to restrictions which would entitle the Company, on a cessation of his employment, to reacquire some of those shares, as follows:(i) a total of 26,200 shares issued to Mr. Haynes on September 19, 2006, of which 19,650 shares remain subject to restrictions and (ii) a total of 17,500 shares issued to Mr. Haynes on May 23, 2007, all of which are still restricted.&quot;</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Christine Kakour</signatureName>
        <signatureDate>2007-10-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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