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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">UNITED STATES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">SECURITIES
AND EXCHANGE COMMISSION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">FORM 8-K</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">CURRENT
REPORT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Pursuant
to Section 13 or 15(d) of the<BR>
Securities Exchange Act of 1934</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report</B> (Date of earliest
event reported):<BR>
<B>October 26, 2012</B> (October 25, 2012)</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><U>DGSE
COMPANIES, INC.</U></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center">Nevada</TD>
    <TD STYLE="width: 2%; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="color: black"><B>1-11048</B></FONT></TD>
    <TD STYLE="width: 2%; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="color: black"><B>88-0097334</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or Other<BR> Jurisdiction of<BR> Incorporation)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Commission<BR> File Number)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(IRS Employer<BR> Identification No.)</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: black"><B>11311 Reeder
Rd.</B></FONT><BR>
<FONT STYLE="color: black"><B><U>Dallas, Texas</U></B></FONT><B><U> 75229</U></B><BR>
(Address of Principal Executive Offices) (Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: black"><B><U>(972) 484-3662</U></B></FONT><BR>
(Registrant&rsquo;s telephone number, including area code)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">(Former Name or Former Address, if Changed Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(<I>see </I>General Instruction A.2. below):</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 19.5pt"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 19.5pt; text-align: justify; text-indent: -19.5pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 19.5pt"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 19.5pt"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 19.5pt"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 5.02</B></TD><TD STYLE="text-align: justify"><B>Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">(a)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">(b)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On October 25, 2012,
William H. Oyster resigned as Chief Executive Officer (&ldquo;<U>CEO</U>&rdquo;), President, Principal Executive Officer and as
a director of DGSE Companies, Inc., a Nevada corporation (the &ldquo;<U>Registrant</U>&rdquo;). Mr. Oyster had no disagreements
with the Registrant on any matter related to the Registrant&rsquo;s operations, policies or practices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">(c)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On October 25, 2012,
the board of directors of the Registrant (the &ldquo;<U>Board</U>&rdquo;) appointed James J. Vierling to the position of Chief
Executive Officer, President and Principal Executive Officer of the Registrant. Since 2009, Mr. Vierling, 50, has been the President
of SBT, Inc., DBA Southern Bullion Coin &amp; Jewelry (&ldquo;<U>SBT</U>&rdquo;). In this position, Mr. Vierling grew SBT into
a 23-location, highly successful operation. During this growth, Mr. Vierling implemented numerous policies, procedures, systems
and controls, many of which the Registrant now utilizes. The Registrant acquired SBT on September 14, 2011 in an acquisition from
Mr. Vierling, NTR Metals, LLC&mdash;the Registrant&rsquo;s largest vendor and largest shareholder&mdash;and the other members of
SBT (the &ldquo;<U>SBT Transaction</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Mr. Vierling has been instrumental
in advising on the process of assembling the new management team and coordinating the restatement process. Mr. Vierling is also
part-owner of Estate Gold and Silver, LLC. Prior to joining SBT, from 2005 until 2009, Mr. Vierling was Chief Marketing Officer
and Strategic Planner of A-1 Premium Acceptance, an installment loan company. Mr. Vierling holds a BS in Economics with a minor
in Marketing from the University of Missouri. He graduated in 1984.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Mr. Vierling has no family
relationship with any officer or director of the Registrant or any of its subsidiaries. Prior to the SBT Transaction, Mr. Vierling
was a member of SBT. As a result of the SBT Transaction, Mr. Vierling received a payment of restricted shares of the common stock
of the Registrant, as more fully described in the Registrant&rsquo;s Current Report on Form 8-K, as filed with the Securities and
Exchange Commission on September 16, 2011, which is hereby incorporated by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Pursuant to that certain
Employment Agreement, dated October 25, 2012, by and between the Registrant and Mr. Vierling, attached hereto as <U>Exhibit 10.1</U>,
which has an initial term of three years, and in consideration for Mr. Veirling&rsquo;s service, (i) the Registrant shall pay Mr.
Vierling a salary of $535,000 per year (his &ldquo;<U>Annual Salary</U>&rdquo;); (ii) beginning in 2013, Mr. Vierling shall be
eligible for a performance bonus in an amount equal to 25% of his Annual Salary if certain performance targets are met and (iii)
Mr. Vierling shall be entitled, so long as he remains an employee of the Registrant, to receive grants of an option to purchase
50,000 shares of the common stock of the Registrant on January 1 of 2013, 2014 and 2015, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">(d)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On October 25, 2012,
the Board also appointed Mr. Vierling to serve as a director of the Registrant and as Chairman of the Board. Mr. Vierling has not
been assigned to any committees on the Board at this time. Mr. Vierling was appointed to the Board due to his knowledge of the
industry as well as his knowledge of the day-to-day operations of the Registrant and its subsidiary, SBT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.2pt; text-align: justify; text-indent: -70.2pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 9.01</B></TD><TD STYLE="text-align: justify"><B>Financial Statements and Exhibits</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(a)</TD><TD STYLE="text-align: justify">Not applicable<I>.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(b)</TD><TD STYLE="text-align: justify">Not applicable<I>.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(c)</TD><TD STYLE="text-align: justify">Not applicable<I>.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify"><B>Exhibits</B><I>.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%; border-bottom: windowtext 1pt solid">Exhibit No.</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 84%; border-bottom: windowtext 1pt solid">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.1</TD>
    <TD>&nbsp;</TD>
    <TD>Employment Contract, dated October 25, 2012, by and between James J. Vierling and DGSE Companies, Inc.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%; border-bottom: windowtext 1pt solid">Exhibit No.</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 84%; border-bottom: windowtext 1pt solid">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.1</TD>
    <TD>&nbsp;</TD>
    <TD>Employment Contract, dated October 25, 2012, by and between James J. Vierling and DGSE Companies, Inc.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">DGSE COMPANIES, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Date: October 26, 2012</TD>
    <TD STYLE="width: 3%">By:</TD>
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid">/s/ James D. Clem</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>James D. Clem</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Operating Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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{"company-data": {"conformed-name": "DGSE COMPANIES INC", "cik": "0000701719", "assigned-sic": "5944", "irs-number": "880097334", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-11048", "film-number": "121164518"}, "business-address": {"street1": "11311 REEDER ROAD", "city": "DALLAS", "state": "TX", "zip": "75229", "phone": "9724843662"}, "mail-address": {"street1": "11311 REEDER ROAD", "city": "DALLAS", "state": "TX", "zip": "75229"}, "former-company": [{"former-conformed-name": "DALLAS GOLD & SILVER EXCHANGE INC /NV/", "date-changed": "19930114"}, {"former-conformed-name": "AMERICAN PACIFIC MINT INC", "date-changed": "19920703"}, {"former-conformed-name": "CANYON STATE CORP", "date-changed": "19860819"}]}
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report
(Date of earliest
event reported):
October 26, 2012
(October 25, 2012)
DGSE
COMPANIES, INC.
(Exact name of registrant as specified in
its charter)
Nevada
1-11048
88-0097334
(State or Other
Jurisdiction of
Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
11311 Reeder
Rd.
Dallas, Texas
75229
(Address of Principal Executive Offices) (Zip Code)
(972) 484-3662
(Registrant's telephone number, including area code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(
see
General Instruction A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02
Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(a)	         Not applicable.
(b)	         On October 25, 2012,
William H. Oyster resigned as Chief Executive Officer ("
CEO
"), President, Principal Executive Officer and as
a director of DGSE Companies, Inc., a Nevada corporation (the "
Registrant
"). Mr. Oyster had no disagreements
with the Registrant on any matter related to the Registrant's operations, policies or practices.
(c)	         On October 25, 2012,
the board of directors of the Registrant (the "
Board
") appointed James J. Vierling to the position of Chief
Executive Officer, President and Principal Executive Officer of the Registrant. Since 2009, Mr. Vierling, 50, has been the President
of SBT, Inc., DBA Southern Bullion Coin & Jewelry ("
SBT
"). In this position, Mr. Vierling grew SBT into
a 23-location, highly successful operation. During this growth, Mr. Vierling implemented numerous policies, procedures, systems
and controls, many of which the Registrant now utilizes. The Registrant acquired SBT on September 14, 2011 in an acquisition from
Mr. Vierling, NTR Metals, LLC—the Registrant's largest vendor and largest shareholder—and the other members of
SBT (the "
SBT Transaction
").
Mr. Vierling has been instrumental
in advising on the process of assembling the new management team and coordinating the restatement process. Mr. Vierling is also
part-owner of Estate Gold and Silver, LLC. Prior to joining SBT, from 2005 until 2009, Mr. Vierling was Chief Marketing Officer
and Strategic Planner of A-1 Premium Acceptance, an installment loan company. Mr. Vierling holds a BS in Economics with a minor
in Marketing from the University of Missouri. He graduated in 1984.
Mr. Vierling has no family
relationship with any officer or director of the Registrant or any of its subsidiaries. Prior to the SBT Transaction, Mr. Vierling
was a member of SBT. As a result of the SBT Transaction, Mr. Vierling received a payment of restricted shares of the common stock
of the Registrant, as more fully described in the Registrant's Current Report on Form 8-K, as filed with the Securities and
Exchange Commission on September 16, 2011, which is hereby incorporated by reference.
Pursuant to that certain
Employment Agreement, dated October 25, 2012, by and between the Registrant and Mr. Vierling, attached hereto as
Exhibit 10.1
,
which has an initial term of three years, and in consideration for Mr. Veirling's service, (i) the Registrant shall pay Mr.
Vierling a salary of $535,000 per year (his "
Annual Salary
"); (ii) beginning in 2013, Mr. Vierling shall be
eligible for a performance bonus in an amount equal to 25% of his Annual Salary if certain performance targets are met and (iii)
Mr. Vierling shall be entitled, so long as he remains an employee of the Registrant, to receive grants of an option to purchase
50,000 shares of the common stock of the Registrant on January 1 of 2013, 2014 and 2015, respectively.
(d)	         On October 25, 2012,
the Board also appointed Mr. Vierling to serve as a director of the Registrant and as Chairman of the Board. Mr. Vierling has not
been assigned to any committees on the Board at this time. Mr. Vierling was appointed to the Board due to his knowledge of the
industry as well as his knowledge of the day-to-day operations of the Registrant and its subsidiary, SBT.
Item 9.01
Financial Statements and Exhibits
(a)
Not applicable
.
(b)
Not applicable
.
(c)
Not applicable
.
(d)
Exhibits
.
Exhibit No.
Description
10.1
Employment Contract, dated October 25, 2012, by and between James J. Vierling and DGSE Companies, Inc.
EXHIBITS
Exhibit No.
Description
10.1
Employment Contract, dated October 25, 2012, by and between James J. Vierling and DGSE Companies, Inc.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DGSE COMPANIES, INC.
Date: October 26, 2012
By:
/s/ James D. Clem
James D. Clem
Chief Operating Officer