A collectable mounting device is configurable to a wall-mounted configuration, and a horizontal support surface (or shelf) mounted configuration. In the wall-mounted configuration, support members are secured together via a fastener through the adjustment slots such that support channels extend in the same direction to support the collectable on a wall. In the shelf-mounted configuration, the support members are fastened together such that the support channels extend in opposite directions, and a tensioning member is inserted between the support members in opposed tensioning member receiving slots to flex the support members away from each other. A method of using a collectable mounting device comprises the steps of configuring the support members in a first configuration for supporting a collectable on a wall and a second configuration for supporting a collectable on a horizontal surface.