DGSE Companies, Inc. (NYSE Alternext: DGC), which wholesales, retails and auctions fine watches, jewelry, diamonds and precious metal and rare coin products via traditional and Internet channels, today announced that Don Ketterling will become President and Chief Executive Officer of its wholly owned subsidiary Superior Galleries, Inc. Superior Galleries, Inc. is one of the oldest and largest rare coin auction companies in America.
Mr. Ketterling brings a wealth of experience to the position at Superior Galleries. He has been involved in the rare coin business as a collector and professional since the 1950’s. His background includes serving as Vice President of Gold & Silver Emporium, a major California retail rare coin marketing company, during its fastest growth periods and later served as Director of Numismatics for Goldline International.
As Vice President of the rare coin wholesale firm, Certified Assets Management, in addition to co-managing the Rare Coin Alliance rare coin fund, he has represented or had high-level relationships with virtually all of the major rare coin firms in America. Throughout his varied career, he has bought and sold hundreds of millions of dollars of rare coins for collectors, dealers, major marketing firms and investors.
He has been a full time Numismatist since 1977 and is a member of the Professional Numismatists Guild (#409) and a life member of the American Numismatic Association (#4124). Mr. Ketterling will assume his position in Woodland Hills, California on January 1, 2009.
“The appointment of Don Ketterling is a singular event for Superior Galleries,” noted William H. Oyster, President and Chief Operating Officer of DGSE Companies, Inc. Mr. Oyster continued, “Don is an extraordinarily experienced and capable senior person in the rare coin field. He has been directly involved in the purchase and sale of 100’s of millions of dollars in rare coins over the last 30 years. He is an expert in all aspects of our business and will make invaluable contributions as we grow our business. His specific mission is to significantly expand Superior’s auction activities and to broaden the rare coin services provided by SG and DGSE.”
DGSE Companies, Inc. wholesales, retails and auctions jewelry, diamonds, fine watches, and precious metal bullion and rare coins products to domestic and international customers through its Dallas Gold and Silver Exchange, Charleston Gold and Diamond Exchange, Superior Galleries and National Jewelry Exchange subsidiaries and well as through the internet. DGSE also owns Fairchild International, Inc., one of the largest vintage watch wholesalers in the country.
In addition to its retail facilities in Dallas and Euless, Texas, Charleston, South Carolina and Woodland Hills, California, the Company operates live Internet auctions which can be accessed at www.dgse.com and through Superior Galleries' website at www.sgbh.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. DGSE also purchases precious metals, rare coins, watches, diamonds and jewelry through www.Americangoldandsilverexchange.com and over 900 supporting websites. Through www.SuperiorPreciousMetals.com, we provide precious metals and rare coin investing and trading opportunities all across the United States. The Company also makes collateralized consumer loans at its two Dallas locations.
The Company is headquartered in Dallas, Texas and its common stock trades on NYSE Alternext under the symbol “DGC”.
This press release includes statements which may constitute 'forward-looking" statements, usually containing the words "believe", "estimate", 'project", "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission.
By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. In addition to the results presented in accordance with Generally Accepted Accounting Principles throughout this press release, DGSE has presented non-GAAP financial measures such as EBITDA. The Company believes that these non-GAAP measures, viewed in addition to and not in lieu of the Company's reported GAAP results, provide useful information to investors because they are an integral part of the Company's internal evaluation of operating performance. In addition, they are measures that DGSE uses to evaluate management's effectiveness. DGSE’s non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies.
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