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Comic Books

​Except otherwise stated, all results include the premium.

1938 first Superman (Action Comics # 1)
Intro

The appearance of the superheroes is a key step in the history of comics and a point of no return. Action Comics # 1 was published on April 18, 1938 by the recently created Detective Comics company with a nominal date of June 1938.

​This issue is the undisputed holy grail of the hobby, with the incredible strength of Superman illustrated by Joe Shuster on cover page. As of 2024, 78 surviving copies have been certified by CGC (Certified Guarantee Company) of which only 44 are unrestored.


Superman is a character with supernatural powers. By adapting it to the comic book format, its inventors Jerry Siegel and Joe Shuster had the fruitful idea of ​​transforming their monster originally derived from the Frankenstein story into a propagator of good, tireless defender of widows and orphans. Detective Comics agreed to exploit that innovative conception.
Action Comics #1 (1938), featuring the first appearance of Superman, is one of the most iconic and valuable comic books in history. Published by Detective Comics (later DC Comics) on April 18, 1938, with a cover date of June 1938, it sold for 10 cents and marked the birth of the modern superhero genre.
Overview
Action Comics #1 is an anthology issue containing 13 stories across 64 pages, but its legacy rests on the 13-page Superman feature by Jerry Siegel (writer) and Joe Shuster (artist). The cover famously depicts Superman hoisting a car overhead, a striking image that helped it stand out on newsstands. Superman is introduced as a mysterious champion of the oppressed, using his powers to fight injustice, expose corruption, and protect the innocent. The issue also includes other features like Zatara, Tex Thompson, and Scoop Scanlon, but Superman's debut overshadowed everything else.
History
The comic emerged during the Great Depression, when escapist adventure stories were popular. Siegel and Shuster, two young creators from Cleveland, Ohio, had been developing the character since 1933. They initially conceived "Superman" as a bald villain in a 1933 prose story titled "The Reign of the Superman," inspired by Nietzsche's concept of the Übermensch but reimagined as a tyrant using mental powers. After rejection, they reworked it into a heroic figure.In 1938, National Publications (DC's predecessor) needed filler for Action Comics. Editor Vincent Sullivan chose Superman for the cover due to its dynamic appeal, despite initial hesitation about a costumed hero. About 200,000 copies were printed, but only around 100 are known to survive today due to wartime paper drives and poor preservation. The issue's success led to Superman's own title in 1939 and launched the superhero boom.
Inspiration
Siegel and Shuster drew from multiple sources:
  • Sci-fi and pulp heroes (e.g., Doc Savage, Tarzan, and Philip Wylie's Gladiator for super-strength).
  • Mythological figures like Hercules and Samson.
  • Personal elements: Superman's appearance was modeled partly on Siegel himself (hands-on-hips stance), with Clark Kent inspired by comedians like Harold Lloyd for the mild-mannered disguise.
  • Social commentary: Superman fought real-world issues like corruption, domestic abuse, and lynching, reflecting Depression-era concerns and the creators' Jewish immigrant backgrounds amid rising fascism.
The dual identity (mild Clark Kent vs. powerful Superman) allowed readers to identify with both the everyday man and the aspirational hero.
Breakthrough
Action Comics #1 was a modest initial success but exploded in popularity. Sales surged as readers clamored for more Superman, leading DC to feature him prominently and create spin-offs. It proved superheroes could carry comics, shifting the industry from anthologies to character-driven titles. Superman became a cultural phenomenon, inspiring radio shows, cartoons, live-action serials, and eventually films. The character symbolized hope, justice, and American ideals during World War II.
Legacy
This issue is widely regarded as the foundation of the superhero genre, influencing Marvel, DC, and global pop culture. Superman remains one of the most recognized fictional characters, embodying truth, justice, and the American way. Copies are prized artifacts, with high-grade examples fetching millions due to rarity and historical significance. It has set numerous auction records and symbolizes the rise of comic books as serious collectibles.
Comparison of the Top Three Realized Prices at Auction
​
Auction records for Action Comics #1 have escalated dramatically, often in private sales or public auctions via houses like Heritage Auctions and ComicConnect. The top realized prices (as of early 2026) focus on high-grade CGC-certified copies. Note that some top sales are private, and public auction highs trail slightly behind.The current top three realized prices are:
  1. $15,000,000 (January 2026, private sale via ComicConnect/Metropolis Collectibles) — CGC 9.0 (VF/NM). This legendary copy, once owned by actor Nicolas Cage (stolen in 2000, later recovered), shattered all records and became the most expensive pop culture collectible ever. It reclaimed the top spot for Action Comics #1 after briefly losing it.
  2. $6,000,000 (April 2024, Heritage Auctions public auction) — CGC 8.5 (VF+), from the Kansas City pedigree. This set the world auction record for any comic at the time, surpassing prior highs and highlighting strong demand for high-grade examples.
  3. $3,250,000 (2021, private sale via ComicConnect) — CGC 8.5. This broke previous barriers and was a key milestone in the rapid appreciation of Golden Age comics.
These sales reflect condition rarity (CGC 9.0 examples are extraordinarily scarce), historical importance, and market growth. For context, earlier milestones included $3,207,852 (2014, CGC 9.0 on eBay) and $1.5 million (2010, CGC 8.5). Prices have multiplied due to investor interest and cultural nostalgia. Note that Superman #1 (1939) briefly held the overall comic record at $9.12 million in late 2025 before this $15 million sale overtook it.

1
​8.5 Off White to White
​2024 SOLD for $ 6M by Heritage

A large accumulation of nearly 250 high grade #1 issues that ran from 1937 through the 1940s surfaced in Kansas City in the late 1960s.

The Kansas City copy of the Action Comics # 1 had been sold for $ 1M by ComicConnect on February 22, 2010 with a CGC 8.0 grade and pages announced as off white. Now graded VF+ 8.5 by CGC with off white to white pages, it was sold for $ 6M by Heritage on April 4, 2024, lot 90002. 

The colors are stunning and the cover is almost pristine. CGC notes a small bindary tear top of spine, a small crease left top of back cover, a tear with crease top of front cover and very light staple rust. The catalogue reports some mild toning to the white areas and a tiny color break at midspine. The corners are relatively sharp.

At the time of the auction, the CGC census reports two copies graded VF/NM 9.0 plus two 8.5, as reported in the Heritage catalogue. Some of them previously appeared on the market. 

A book graded 9.0 with cream to off white pages was sold at auction for $ 2.16M on November 30, 2011 by Comic Connect. Outside auctions, a copy graded 9.0 with white pages was sold on the eBay bidding platform in 2014 for $ 3.2M by the two owners of ComicConnect.

ComicConnect reported on April 7, 2021 that a copy graded 8.5 VF+ was sold by them for $ 3.25M. Other results had been reported by them in the same grade at $ 2.05M with white pages on June 12, 2018 and at $ 1.5M on March 29, 2010. These results cannot be used for traceability because some books have been regraded.


The copy believed to be the nicest of all, not yet certified, is known as the Mile High copy.

2
​9.0 ex Nicolas Cage
2011 SOLD for $ 2.16M by Comic Connect

For CGC (Comics Guaranty Corporation), 9.2 describes a volume kept flat, clean, with supple and not yellowed paper, vibrant colors, undamaged staples. 9.0 means that some qualities required for the 9.2 are not quite reached.

At the top of the CGC scale of the unrestored Action Comics # 1 as visited in August 2021, two are graded 9.0 with none higher, followed by one 8.5, two 8.0, one 7.5 and no 7.0. The grades identified below were announced at the time of the sales and are possibly not current.

A book graded 9.0 with cream to off white pages was sold for $ 2.16M on November 30, 2011 by Comic Connect. The company authenticated by three tiny printing defects that it was the copy stolen from the actor Nicolas Cage in 2000, paid back to him in the mean time by the assurances. Please watch the video shared by Associated Press. It was the only copy graded 9.0 with none higher at the time of the sale.

Among other high results outside auctions, ComicConnect reported on April 7, 2021 that a copy graded 8.5 VF+ by CGC was sold by them for $ 3.25M. Another result had been reported by them in the same grade at $ 1.5M on March 29, 2010. A newly graded 9.0 copy with white pages was sold on the eBay bidding platform in 2014 for $ 3.2M by the two owners of ComicConnect.

The Full Story of Nicolas Cage's Action Comics #1 Copy
Action Comics #1, published in June 1938 by National Allied Publications (later DC Comics), marked the debut of Superman, created by Jerry Siegel and Joe Shuster. This 64-page anthology issue sold for 10 cents at the time and introduced the Man of Steel's origin story: born on the doomed planet Krypton as Kal-El, rocketed to Earth as a baby, and raised as Clark Kent in Smallville, Kansas, before using his powers to fight for truth and justice. Only about 100 copies are known to survive today, making it the "Holy Grail" of comic books. The specific copy in question is one of just two graded CGC 9.0 (Very Fine/Near Mint), indicating exceptional preservation with minimal wear.
This particular copy's journey began gaining notoriety in the mid-1990s. In 1996, actor Nicolas Cage—a lifelong comic book enthusiast and Superman fan (he even named his son Kal-El)—purchased it from Metropolis Collectibles/Comic Connect for $150,000, which was a record price for a comic book at the time. Cage, known for roles in films like Con Air and National Treasure, proudly displayed it in his Los Angeles home as part of his collection.
Tragedy struck on January 6, 2000, during a party at Cage's mansion. Thieves broke in and stole several high-value comics from his collection, including this Action Comics #1, a Detective Comics #27 (Batman's first appearance), and a Marvel Mystery #71. The theft made headlines, and Cage worked with authorities and comic experts, including Stephen Fishler of Metropolis/Comic Connect, to investigate. Despite efforts, the comics vanished into the black market, and the case went cold. Cage later reflected on the loss in interviews, calling it heartbreaking but noting it inspired elements of his life and work.
The comic remained missing for over a decade, its value skyrocketing in the interim due to the growing popularity of superhero media and the intrigue of its disappearance. Experts liken this to the 1911 theft of the Mona Lisa from the Louvre, which elevated the painting's global fame after its recovery.
In April 2011, the story took a dramatic turn. A man known only as "Sylvester" (his full identity was kept private) bought the contents of an abandoned storage locker in the San Fernando Valley, California, for a low price during an auction—similar to scenarios on shows like Storage Wars. Among the junk, he discovered the comic. Unsure of its value, Sylvester contacted Dan Dotson of American Auctioneers, who connected him with collectibles expert Mark Balelo. Balelo then reached out to Stephen Fishler, who had originally sold the book to Cage. Fishler flew to California, examined the comic, and confirmed it was Cage's stolen copy based on unique identifiers like its grading and provenance. The Los Angeles Police Department was notified, and the comic was seized as evidence before being returned to Cage.
Cage was ecstatic about the recovery, publicly thanking those involved. However, facing financial pressures (including tax issues and a penchant for extravagant spending), he decided to sell it just six months later. In November 2011, the comic went up for auction through Comic Connect and fetched $2.161 million—shattering previous records and benefiting from the publicity of its theft and recovery.
The copy changed hands privately in the years that followed, its value continuing to climb amid booming interest in vintage comics driven by blockbuster films and nostalgia. On January 9, 2026, Metropolis Collectibles/Comic Connect announced its private sale to an anonymous buyer for a staggering $15 million. This eclipsed the prior record of $9.12 million set in November 2025 for a copy of Superman #1. The seller also remained anonymous, but experts attribute the premium price to the comic's pristine condition, rarity, and its legendary "stolen from Nic Cage" backstory, which has cemented it as an icon of pop culture collectibles.
​
This copy's odyssey—from a dime-store issue to a multimillion-dollar artifact—highlights the enduring appeal of Superman and the wild world of comic collecting.

3
6.0 White
​2022 SOLD for $ 3.2M by Heritage

An Action Comics # 1 graded 6.0 by CGC was sold for $ 3.2M by Heritage on January 13, 2022, lot 91030. 8 copies have a higher grade.

This example is referred by CGC as the Rocket Copy for the image of a red spaceship imprinted on its cover by its 13 year old original purchaser. Appreciating the importance of that issue, that owner kept it in an envelope. It is now consigned by his family. All its pages have been preserved in a highly enjoyable perfect white, and the rocket stamp is included in the lot.

The Rocket copy was later sold in private sales for $ 3.4M in September 2022, brokered by Goldin, and for $ 3.55M in 2023, brokered by ComicConnect.

May 1939 first Batman (Detective Comics # 27)
2026 SOLD for $ 2.3M by Heritage

Detective Comics #27 (1939), featuring the first appearance of Batman, is one of the most significant and valuable comic books ever published. Released by Detective Comics Inc. (later DC Comics) with a cover date of May 1939 (on sale March 30, 1939), it sold for 10 cents and introduced the Dark Knight in a 6-page story titled "The Case of the Chemical Syndicate." This issue is widely regarded as the cornerstone of Batman's legacy and a key pillar of the superhero genre alongside Action Comics #1.
Overview
Detective Comics #27 is a 64-page anthology comic containing multiple features, including "Slam Bradley," "Spy," "Speed Saunders," and others, but the standout is Batman's debut. The story, written by Bill Finger and illustrated by Bob Kane (with contributions from others), introduces Bruce Wayne as a wealthy playboy who dons a bat-themed costume to fight crime after witnessing his parents' murder as a child. Batman is portrayed as a shadowy vigilante detective who uses fear, gadgets (like a silken cord lasso), and intellect rather than superpowers. The cover shows Batman swinging on a rope with a criminal in hand, emphasizing his mysterious, pulp-inspired aesthetic. Commissioner James Gordon also debuts here.
The Batman does not have a superpower. He is instead anchored in the contemporary wotld. To terrorize the bad guys, he wears a black cloak inspired by Zorro. Its bat wings are also reminiscent of the most famous of vampires, Dracula, who was making havoc with moviegoers at that time.
History
​
Batman was created in response to the massive success of Superman in Action Comics #1 (1938). National Comics Publications sought another hit to fill their anthology titles. Bob Kane pitched a bat-like character inspired by his earlier "Bird-Man" ideas, but Bill Finger significantly refined it—suggesting the cape and cowl instead of wings, naming him "Batman" (after "bat-man" from zoology and pulp heroes), crafting the tragic origin, and adding elements like the utility belt and detective focus. The issue was part of the Golden Age boom, but like Action Comics #1, print runs were modest (around 200,000+ copies estimated), with survival rates extremely low due to wartime recycling and poor storage. Only about 75-80 unrestored copies are known in the CGC census today, making high-grade examples extraordinarily rare.
Inspiration
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Kane and Finger drew from diverse sources:
  • Pulp fiction heroes like The Shadow (the story was heavily inspired by a 1936 Shadow tale, "Partners in Peril," leading to plagiarism claims), Zorro (masked avenger motif), and The Phantom.
  • Film serials and literature: Douglas Fairbanks' swashbuckling roles, Leonardo da Vinci's flying machine sketches for the bat-like silhouette, and the 1926 film The Bat (a mystery with a bat-costumed villain).
  • Myth and symbolism: Bats as creatures of the night, symbolizing fear; Finger emphasized psychology over brute force.
  • Personal tragedy: The orphan origin mirrored real-world losses and Depression-era anxieties, with Batman as a symbol of justice in a corrupt world. Finger's uncredited role was pivotal—he shaped Batman's human vulnerability, making him relatable compared to god-like Superman.
Breakthrough
Detective Comics #27 was initially successful but didn't explode like Superman's debut. Batman gained traction through consistent appearances, leading to his own title (Batman #1 in 1940) and the introduction of Robin in Detective Comics #38 (1940) to lighten the tone. The character became a cultural icon during WWII, starring in propaganda, radio shows, and serials. It proved non-powered, detective-focused heroes could rival superpowered ones, influencing the genre's diversity (e.g., Marvel's street-level heroes). Batman's darker tone contrasted Superman's optimism, establishing DC's dual archetypes.
Legacy
This issue launched one of fiction's most enduring characters, symbolizing justice, vengeance, and human potential. Batman has spanned comics, TV (1960s camp series, animated shows), films (Tim Burton to Nolan to Reeves eras), games, and merchandise, grossing billions. It ranks alongside Action Comics #1 as a "holy grail" of collecting, embodying the shift from pulps to superheroes. High-grade copies command multimillion-dollar prices, reflecting rarity and cultural impact. Batman remains a global icon of resilience and moral complexity.
Comparison of the Top Realized Prices at Auction
Following the format for high-value Golden Age keys like Action Comics #1, records for Detective Comics #27 emphasize unrestored CGC-graded copies (public auctions dominate headlines, with fewer massive private sales reported compared to Superman's debut). The top realized prices focus on the highest unrestored sales:
  1. The current market shows strong appreciation, with a high-grade copy (CGC 7.0 (FN/VF), off-white pages) sold by Heritage Auctions (February 27, 2026). Final price 2,318,000, lot 91011. It is well centered and very clean with very fresh colors, without any mark added in ink or pencil.Its previous sale at $1,500,000 (November 2020, Heritage Auctions) was a major milestone during the early comic boom, for one of the highest unrestored grades available (only six copies graded higher in the census, with very few sales in 8.0+ since 2010).
  2. $1,825,088 (March 2024, ComicConnect Event Auction) — CGC 6.5 (FN+), cream/off-white pages. This set the all-grade record for any copy of Detective Comics #27 (unrestored), surpassing prior marks and reflecting booming demand for mid-to-high-grade Golden Age keys amid broader market highs (e.g., post-Action Comics #1 $15M sale).
  3. and 4. A copy of the Detective Comics # 27 graded FN 6.0 by CGC with off white to white pages was sold for $ 1.74M by Heritage on March 30, 2023, lot 91029. This example was signed by Bob Kane and dedicated by him to a friend. ​A copy of the Detective Comics # 27 graded 6.5 by CGC with cream to off white pages was sold for $ 1.74M by Goldin on May 21, 2022, lot 2. Please watch the video shared by the auction house.
These prices underscore the extreme scarcity—higher grades (e.g., the lone CGC 9.2 or 8.5 unrestored) have never sold publicly in recent decades, and even 7.0+ examples are generational rarities. Public auction records have hovered in the $1.5M–$1.8M range for top unrestored copies, trailing Action Comics #1 but driven by Batman's enduring popularity and investor interest. Restored or lower-grade sales (e.g., CGC 4.0 at ~$683,200 in 2025) are significantly lower but still six figures.

Special Report
Paper Quality

The evolution of comic book paper reflects broader changes in the publishing industry: from mass-market, low-cost production aimed at children and newsstand sales in the early 20th century, to premium, collector-focused formats driven by direct market sales, technological advances, and preservation concerns. Below is a chronological overview of the major shifts in paper quality and types, focusing primarily on American mainstream comics (DC, Marvel, and independents).
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Golden Age (1938–mid-1950s): Newsprint DominanceComic books like Action Comics #1 (1938) and Detective Comics #27 (1939) were printed on cheap wood-pulp newsprint for interior pages. This was the same low-grade, uncoated, acidic groundwood paper used for newspapers and pulp magazines—lightweight (around 30–35 lb basis weight), slightly rough, off-white/cream-toned when new, and highly economical to produce in large runs on web presses.
  • Covers: Thicker, glossy coated stock (slicker for better color pop and newsstand appeal).
  • Why newsprint? Comics sold for 10 cents during the Great Depression/WWII era, targeting impulse buys. Newsprint kept costs low but led to rapid yellowing, brittleness, and deterioration over time due to high acid content.
  • Printing: 4-color process (CMYK) on newspaper-style presses, often with Ben-Day dots for shading. No major upgrades existed yet.
This remained the standard through the Silver Age (1950s–1970) and much of the Bronze Age (1970s–mid-1980s), with minor variations in newsprint quality (e.g., some thinning/flimsiness by the late 1970s).

Summer 1939 Superman # 1

1
​VF/NM 9.0 Off White to White
2025 SOLD for $ 9.1M by Heritage

The Superman magazine begun by DC Comics in the summer of 1939 was the very first series of comic books entirely devoted to a single superhero. It relied for its success upon the first appearance of Superman in the Action Comics # 1 at the cover date of June 1938.

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Superman #1 (1939), published by DC Comics (then Detective Comics Inc.) with a summer cover date, is the first solo title dedicated to Superman. It reprints the Superman stories from Action Comics #1–4 plus new material, including the iconic cover by Joe Shuster showing Superman leaping over a cityscape. This issue solidified Superman as a standalone superstar after his debut in Action Comics #1 (1938), helping launch the superhero genre's expansion and DC's branding shift. Like other Golden Age keys, high-grade unrestored copies are extraordinarily rare due to low survival rates (newsprint paper fragility), with fewer than 100 known copies in the CGC census overall.

It was a 68-page issue (standard for the era: 64 interior pages + covers), printed in full color (4-color process typical of Golden Age comics).
the back cover features a large, iconic Superman pin-up illustration by Joe Shuster, designed with a dotted-line border and an inside-front-cover ad encouraging readers ("boys & girls") to cut it out for framing. This is often called the
first back-cover pin-up in American comic books, and it contributed to rarity (many kids did cut it, damaging copies). No clear earlier full-page back-cover pin-up in a U.S. comic is documented in standard histories or auction records.
Historical accounts note that Superman #1 sold out its initial print run quickly (estimated at around 500,000 copies for the first printing, with subsequent runs of 250,000 and 150,000). Demand from kids was massive, leading to reprints and the series becoming ongoing.
Undamaged/unrestored copies are very rare. Only about 209 copies are in the CGC census today (fewer than half in unrestored Universal blue labels). High-grade examples (e.g., the CGC 9.0 attic find) are prized due to newsprint fragility, wartime recycling, and especially kids cutting out the back cover pin-up.
Joe Shuster provided the cover art (a dynamic Superman leaping image, adapted/redrawn from a panel in Action Comics #10 with possible embellishments by Leo O'Mealia).

Top Realized Prices for Superman #1
As of February 27, 2026, the market for Superman #1 has seen explosive growth, driven by condition rarity (especially 9.0+ grades), historical significance, and the broader comic collectibles boom. The standout sale is a public auction record that briefly held the overall comic book title before being surpassed by a private Action Comics #1 deal. Prices emphasize unrestored CGC-graded copies from major houses like Heritage Auctions (public auctions dominate headlines; private sales for this title are less frequently reported at ultra-high levels compared to Action Comics #1).
The current top realized prices (focusing on the highest known, with public auction emphasis for comparability to prior keys like Action Comics #1 and Detective Comics #27):
  1. $9,120,000 (November 20, 2025, Heritage Auctions public auction, lot 93015) — CGC 9.0 (VF/NM), off-white to white pages. This "attic find" copy, discovered by three brothers cleaning out their late mother's belongings in California (stored in a cardboard box under newspapers for decades), achieved the highest grade ever for the issue (sole 9.0 in the CGC census at the time). It shattered all prior comic records, surpassing the $6 million Action Comics #1 mark from 2024. The dramatic provenance and pristine condition (protected despite minimal safeguards) fueled intense bidding, making it the most expensive comic book sold at public auction ever at that point.
  2. $7,000,000 (February 2026, private sale via Heritage Auctions) — CGC 8.5, Mile High pedigree. This second-highest graded unrestored example (from the legendary Edgar Church/Mile High collection) was part of a high-profile paired deal with a top-graded Batman #1. It reflects sustained demand for pedigree/high-grade copies post the 2025 record sale.
  3. $5,300,000 (January 2022, private sale) — CGC 8.0 (at time of sale; same copy later regraded to CGC 8.5 and resold in 2026 for $7 million), Edgar Church/Mile High pedigree. This milestone private transaction (brokered by dealers) briefly held the overall comic record before later escalations, underscoring the rapid appreciation of high-grade Superman #1 copies.​
These sales highlight Superman #1's status as a "second key" to Superman (after Action Comics #1) but one with even greater scarcity in top grades—only a handful exceed 8.0 unrestored, and the 9.0 attic copy was unprecedented. Public auction highs peaked at $9.12 million in late 2025, with no higher public sales reported for the issue in early 2026 (though private deals like the $15 million Action Comics #1 in January 2026 reclaimed the overall record). Factors driving values include cultural nostalgia, Superman's enduring icon status (boosted by films and media), and investor interest in blue-chip Golden Age books. Lower-grade or restored copies sell for far less (e.g., six figures), but unrestored 8.0+ examples remain generational rarities.

2
​FN/VF 7.0 Off White
​​2021 SOLD for $ 2.6M by ComicConnect

An example graded FN/VF 7.0 by CGC with off white pages was sold for $ 2.6M by ComicConnect on December 17, 2021, here linked, for $ 1.62M by Goldin on June 15, 2023, lot 2, for $ 2.34M by Heritage on January 11, 2024, lot 91044. Please watch the videos shared by ComicConnect and by Goldin.

With two owners from new when it surfaced before the 2021 auction, this copy had just been kept for four decades in a temperature controlled safe. It is certified by QES (Quality Evaluation Service) for its condition of spine and of staple area and for its deep blue, red and yellow.

CGC Grade
FN/VF 7.0 (2 in 7.0, 2 higher as of January 2024)
Page Quality
Off-white
Restoration
Unrestored
Condition Notes
Bears a QES (Quality Enhancement Sticker) indicating superior presentation for the grade, but includes defects: 1" tear at left bottom of front cover, fraying along the spine, light small corner creases on front and back covers, and multiple finger bends on the cover.

October 1939 first Human Torch (Marvel Comics # 1)
​​2022 SOLD for $ 2.43M by ComicConnect

The price of a comic book of the golden age depends on its prestige and condition. The first appearance of a superhero is acclaimed : Superman in 1938 in Action Comics # 1, Batman in 1939 in Detective Comics # 27, Green Lantern in 1940, Captain America in 1941. The greatest hits have generated dedicated titles : 'Superman' with a # 1 in 1939 and 'Batman' in 1940.

Superman and Batman are the flagships of Detective Comics. Their main competitor is Timely Publications, which publishes Marvel Comics with a # 1 in October 1939 and Captain America Comics from 1941. Marvel's first superhero is The Human Torch. The first Marvel Comics has 68 pages.

Greedy readers have stained the pages. Otherwise, the manufacture was not free from defects and time has yellowed the paper. Unrestored pristine copies are extremely rare.

The reference is provided by the 10-point rating scale used by CGC. VF/NM 9.0 still accepts minor defects. The higher grades are much more demanding. Up to NM 9.4, only small defects remain accepted. 9.2 and 9.4 are differentiated by the wear. At 9.6 minor defects must be few, without wear. Above the defects are negligible (9.8), imperceptible (9.9) or absent (10.0). No trace of handling is accepted at 9.9.

A Marvel Comics # 1 graded NM 9.4 off-white pages by CGC was sold for $ 1.26M by Heritage on November 21, 2019, lot 91090.

This copy referred with a Windy City pedigree on the CGC label was later sold for $ 2.43M on March 17, 2022 by ComicConnect. The post sale release of the auction house indicates that it is a "pay copy" where the payments attributed to the artists have been recorded by hand by the publisher on some pages including the cover page.

This copy has the highest grade attributed by CGC in this edition. Two copies were graded 9.0. One of them, whose cover and 7 pages had been used by the printer for its accounting of the artists' payment, was sold for $ 227K by Heritage on February 25, 2010.

1940 Batman No. 1
​2021 SOLD for $ 2.2M by Heritage

The golden age of comic books is dominated by two superheroes, Superman and Batman. Their adventures are told in magazines published by DC Comics, but they do not play together. Superman is the modern Hercules who fights against the weaknesses of the world. Batman is the avenger.

Batman is more promising because he has an easier capability to remain human. His superpowers are gadgets, with humor and diversity. His performances in Detective Comics magazine appeal to readers. After creating Superman magazine in 1939, DC relies also on Batman.

The new magazine, Batman, is advertised as a quarterly. The number 1, dated Spring 1940, already brings significant changes. The teenagers will love to find again the secondary characters in the next issues of the magazine. Batman will stop killing his enemies. An effort is also made to vary the stories.

This new cohort includes two super-villains, the crime maniac named The Joker and the superwoman named The Cat soon-to-be Catwoman. It also includes a super-nice, Robin the Boy Wonder. The cover pages feature the two young buddies, Batman and Robin, on front side hovering together above the city, and on back side urging readers not to miss their future thrills.

Comic books from that era have been handled with enthusiasm and have not remained in perfect condition. A Batman No. 1 graded NM- 9.2 Off White, sold for $ 570K by Heritage on August 1, 2013, was at that time CGC's highest ranking for this edition.

A true Near Mint Batman No. 1 has just surfaced after being kept for 38 years in a collection. It is graded 9.4 White by CGC. It was sold for $ 2.2M from a lower estimate of $ 1M on January 14, 2021 by Heritage, lot 91027.

A copy of Batman # 1 graded 8.0 by CGC with white pages was sold for 
$ 1.48M by Goldin on September 18, 2021, lot 1. It is signed on the cover page by the early collector Larson. Please watch the video shared by the auction house.
Quote
Comics & Crypto l $COLLECT @ComicsandCrypto
BREAKING NEWS Two Golden Age grail comics sell for a total of $13 MILLION! One of the largest private comic transactions in hobby history has just been completed and it involves two of the most important books ever printed. 
A private $13 million sale of Batman #1 (CGC 9.4, $6M) and Superman #1 (CGC 8.5 Mile High pedigree, $7M)—brokered by Heritage Auctions and Semper Fi Comics—ranks among the largest comic transactions, following January's record $15 million Action Comics #1 sale.
  • Batman #1 (1940) debuted the Joker and Catwoman in Batman's first solo issue, while Superman #1 (1939) launched the character's self-titled series; these copies represent elite grades, with the Batman #1 as the highest on CGC's census of just 27 graded examples.
  • Golden Age keys like these are cementing comics as alternative assets, outpacing fine art inflation—per Heritage data, top-tier sales rose 25% year-over-year—appealing to institutions for their cultural permanence over speculative trends.
Check if the two brokered books in this post plus the January $ 15M example have an auction history.

The two brokered books from the post (Batman #1 CGC 9.4 at $6M and Superman #1 CGC 8.5 Mile High pedigree at $7M, combined $13M private sale via Heritage Auctions and SemperFi Comics, announced around February 2026) plus the January $15M example (Action Comics #1 CGC 9.0, private sale via ComicConnect/Metropolis Collectibles) all have documented prior auction or sales histories. These are high-end, pedigreed or elite-graded copies that have traded publicly before, often at Heritage Auctions or other major venues, before their most recent private transactions.
  • Batman #1 (1940) CGC 9.4 (the highest-graded known copy): This had a public auction history at Heritage Auctions. It sold there in January 2021 for $2.22 million (a record at the time for any Batman #1). The recent $6M private sale marks a significant appreciation and new record for the issue.
  • Superman #1 (1939) CGC 8.5 Mile High pedigree (Edgar Church/Mile High collection, second-highest graded): This copy previously sold in January 2022 (graded CGC 8.0 at the time) for $5.3 million in a private transaction. It has since been upgraded/resubmitted to 8.5. Note that a different Superman #1 CGC 9.0 sold publicly at Heritage in November 2025 for $9.12 million (a then-record), but the Mile High one in question has this earlier 2022 history.
  • Action Comics #1 (1938) CGC 9.0 (the January 2026 $15M private sale, which set the all-time comic record): This famous copy has a well-documented chain of ownership and sales. It was previously owned by actor Nicolas Cage (purchased in 1996 for $150,000 after earlier sales including a 1992 Sotheby's auction at $82,500), stolen in 2000, recovered in 2011, and resold by Cage for $2.16 million later that year. It has changed hands multiple times in the high-end market before the recent $15M deal.
These recent private sales (especially the $13M pair and $15M Action) were off-market/blockbuster deals building on their prior public auction pedigrees and values, reflecting the rapid escalation in the Golden Age key comic market. No evidence suggests any were completely unheralded or without prior transaction records—their elite status means they've been tracked via sources like GPAnalysis, CGC census, and auction houses.

1941 Captain America
2022 SOLD for $ 3.1M by Heritage

Throughout the economic crisis of the 1930s, movie-goers temporarily forget their difficulties with the horror films of Universal Pictures. For the same public, Martin Goodman becomes in 1933 editor of pulp magazines. He is 25 years old.

In 1938 and 1939 DC Comics achieve a gigantic success with their superheroes including Superman and Batman. Goodman becomes their main competitor by creating Timely Publications which becomes Timely Comics in April 1941. The first Timely magazine, Marvel Comics # 1, is so successful that its circulation is increased from 80,000 to 800,000 copies in November 1939.

The son of Lithuanian Jewish emigrants, Goodman is sensitive to events in Europe. In addition to his androids, he promotes a super military leader named Captain America, endowed with the physical and intellectual perfection and wearing very prominently the stars and stripes of the US flag.

This super patriot staged by Simon and drawn by Kirby appears for the first time in the # 1 dated March 1941 of the new magazine Captain America. On the cover page, he shoots in a devastating right hook a very recognizable character who is nominally designated as Hitler in the text.

With nearly 1 million copies sold, Captain America # 1 is a great success, showing that it already meets the expectations of young Americans nearly one year before the attack on Pearl Harbor.

The best unrestored copies graded by CGC  are one almost perfect NM/MT 9.8 and two NM 9.4. One of these 9.4 was sold by Heritage for $ 920K by Heritage on August 1, 2019, lot 91053, and for $ 3.1M on April 7, 2022, lot 91053. Its pages are described between Off-white and White.Please watch the video shared by the auction house.

1962 first Spider-Man (Amazing Fantasy # 15)
​2021 SOLD for $ 3.6M by Heritage

At the height of the American dream era, our grandfathers' superheroes became super-tacky. Batman will survive but not Superman.

Marvel Comics can't find the solution. Their new magazine Amazing Adventures takes with # 7 a new title, Amazing Adult Fantasy. The subtitle, The Magazine that respects your intelligence, shows with a great naivety the distress of the publishers facing the profound changes in society.

This magazine is not viable. In August 1962 for # 15, Stan Lee, responsible for preparing the stories, tries something decidedly new. The hero is no longer a mere humanoid monster. He behaves like an ordinary teenager, with his shyness and his money problems. He simultaneously embodies the all-powerful and fully responsible superhero that all children dream of becoming : he is Spider-Man.

For this appeal to children, the word Adult is deleted from the title of the magazine. The success is immediate and considerable. Amazing Fantasy is closed after this issue. The monthly magazine The Amazing Spider-Man will be launched by Marvel in March 1963 with a new # 1.

Nowadays the future of Spider-Man is still assured, with an increasing quantity of derivative products. The rating of the Amazing Fantasy # 15 in excellent condition follows this new craze. The grades identified below have been awarded by CGC.

The population of the unrestored certified by CGC is 6 in NM 9.4, 4 in NM+ 9.6 and none higher. 

 In 2011 a copy graded Near Mint + 9.6 was sold for $ 1.1M by ComicConnect in private sale. On February 18, 2016, Heritage sold for $ 450K an NM 9.4 with off-white pages, which had just spent 35 years in a bank vault. On 
March 5, 2020, Heritage sold for $ 800K an Amazing Fantasy # 15 graded NM 9.4 with off white to white paper, lot 91050.

An Amazing Fantasy # 15 graded NM+ 9.6 by CGC with off-white pages was sold for 
$ 3.6M by Heritage on September 9, 2021, lot 93001. 

​The magazine had been sold for 12 cents in 1962.
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