- Initial Statement of Beneficial Ownership (3)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Expires: February 28, 2011 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^*

NTR METALS, LLC

2. Date of Event Requiring Statement (MM/DD/YYYY) 5/25/2010

3. Issuer Name and Ticker or Trading Symbol

DGSE COMPANIES INC [DGSE]

(Last) (First) (Middle)

10720 COMPOSITE DRIVE

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director ___ X ___ 10% Owner
_____ Officer (give title below) _____ Other (specify below)

(Street)

DALLAS, TX 75220

(City) (State) (Zip)

5. If Amendment, Date Original Filed (MM/DD/YYYY)

6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	3000000 ⁽¹⁾	D

*Table II - Derivative Securities Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivate Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
Option Contract	5/25/2010	5/25/2014	Common Stock	1000000 ⁽²⁾	⁽³⁾	D

Explanation of Responses:
( 1)	The 3,000,000 shares of Common Stock owned by the Reporting Person were acquired by the Reporting Person pursuant to (a) the Partial Assignment Agreement, dated as of May 25, 2010, by and between the Reporting Person and the Issuer and (b) the Closing Agreement, dated as of May 25, 2010, by and among the Reporting Person, the Issuer and Dr. L.S. Smith ("Dr. Smith").
( 2)	The Reporting Person entered into an Option Contract (the "Option Contract"), dated as of May 25, 2010, with Dr. Smith. Pursuant to the Option Contract, Dr. Smith granted the Reporting Person an option to purchase 1,000,000 shares of Common Stock owned by Dr. Smith.
( 3)	Pursuant to the Option Contract, for the first two years following May 25, 2010, the exercise price will be (a) $6.00 per share of Common Stock and (b) the release of Dr. Smith's guaranty of the Issuer's $1,500,000 line of credit with Texas Capital Bank, N.A. For the third and fourth years following May 25, 2010, the exercise price will be (a) $10.00 per share of Common Stock and (b) the release of Dr. Smith's guaranty of the Issuer's $1,500,000 line of credit with Texas Capital Bank, N.A. The option granted to the Reporting Person pursuant to the Option Contract expires on May 25, 2014 if the option is not exercised by such date.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
NTR METALS, LLC 10720 COMPOSITE DRIVE DALLAS, TX 75220		X

Signatures
/s/ Carl D. Gum, III		6/2/2010
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.