Are Old Comic Books Worth Anything? Old Comic Book Value

Some old comic books are worth a lot, but most are not. Comics from the late 1980s and 1990s, which fill the majority of longboxes found in closets, usually sell for roughly $1-5 each because they were printed in the millions and saved by collectors from day one. Comics from the 1940s through the 1970s are scarcer and often worth $5-50 even in worn condition. The ones that matter are key issues, especially first appearances of major characters, and their value climbs steeply with condition.

So the useful questions are: which era is it from, is it a key issue, and what condition is it in. The cover price and the small print on the first page answer the first two quickly. Condition is where professional grading comes in, and for a valuable book it decides most of the price.

The ages of comics

Collectors divide American comics into eras. The boundaries are approximate and people argue about them, but the broad lines are useful.

Golden Age (1938 to 1956)

The Golden Age begins with Action Comics 1 in 1938, the first appearance of Superman, and includes the debut of Batman in Detective Comics 27 (1939), Captain America, Wonder Woman and many others. Print runs were large, but paper drives during World War II and decades of disposal destroyed most copies. Golden Age comics in any condition usually sell for tens of dollars at least, and the major keys are among the most valuable collectibles in the world.

Silver Age (1956 to 1970)

The Silver Age begins with Showcase 4 in 1956, which introduced the Barry Allen Flash. It covers the birth of the Marvel universe: Fantastic Four 1 (1961), Amazing Fantasy 15 (1962) with the first Spider-Man, Incredible Hulk 1, Avengers 1 and X-Men 1 (1963). Common Silver Age issues in played condition often sell for $10-50; keys run from hundreds to hundreds of thousands.

Bronze Age (1970 to 1985)

The Bronze Age includes Incredible Hulk 181 (1974) with the first full Wolverine, Giant-Size X-Men 1 (1975) and the Star Wars adaptation (1977). Print runs were still modest by later standards. Common Bronze Age issues often sell for $3-20, with keys in the hundreds and up.

Copper Age (about 1984 to 1991)

Sometimes folded into the Modern Age, the Copper Age covers the rise of the direct market and books such as Teenage Mutant Ninja Turtles 1 (Mirage, 1984), Batman: The Dark Knight Returns, Watchmen, Amazing Spider-Man 300 (1988) with the first full Venom, and New Mutants 98 (1991) with the first Deadpool. A handful of keys are worth hundreds or more; most issues are $1-5.

Modern Age (1990s to today)

The early 1990s brought the speculator boom. Publishers printed enormous quantities, with multiple covers, foil and holographic covers, polybags and trading cards. X-Men 1 (1991) sold several million copies. Superman 75 (1992), the death of Superman, was sold in a black polybag to millions of people who kept it sealed as an investment. Because so many were saved in good condition, supply outstrips demand. Most 1990s comics sell for $1-5, and the famous boom issues for $3-20.

A few modern books are valuable: Batman Adventures 12 (1993), the first comic appearance of Harley Quinn, and some low print run independent comics and rare ratio variants (covers printed at 1 for every 25, 50 or 100 regular copies).

Key issues and first appearances

A key issue is one that matters to the story or the history of comics: a first appearance, an origin, a death, or a first issue of an important series. First appearances of characters who later became film and television stars drive the market.

• First appearances in a cameo (a panel or two) usually sell for less than a "first full appearance".
• Later reprints of key stories, such as Marvel Milestone editions, Facsimile Editions, 1970s oversized "Famous First Edition" reprints and Golden Record reprints, look like the original from a distance and are worth a small fraction of it.
• Prices for modern keys move with film and streaming announcements, so they can rise and fall quickly.

Reading the indicia and cover price

The indicia

The indicia is the small block of print, usually at the bottom of the first page or on the inside front cover, giving the publisher, title, issue number, and the publication date. It also states reprints: "second printing" or a reprint note here means it is not the original. The cover date was usually two or three months ahead of the date the comic actually went on sale.

The cover price

The cover price is a quick way to place a comic in time. As a rough guide for Marvel and DC:

• 10 cents: Golden Age and early Silver Age, until about 1961 or 1962.
• 12 cents: about 1962 to 1969.
• 15 cents and 20 cents: about 1969 to 1974.
• 25 cents to 35 cents: mid to late 1970s.
• 60 cents to $1: mid 1980s.
• $1.25 and up: 1990s onward.

Price variants

Some issues were test-marketed at a different price. Marvel's 1977 35 cent price variants, printed for a few test markets when the normal price was 30 cents, are scarce and worth far more than the regular copies. Canadian price variants and Mark Jewelers inserts (an advertising insert in copies sold near US military bases) are also collected separately.

Newsstand versus direct edition

From the late 1970s, comics were sold both on newsstands and through comic shops (the direct market).

• Newsstand copies have a UPC barcode in the corner box.
• Direct edition copies replace the barcode with artwork, a logo, or a barcode with a line through it.

In the 1980s the two were printed in similar numbers. From the 1990s on, newsstand copies became much scarcer, and collectors now pay a premium for newsstand versions of some modern keys.

Grading and the 9.8 effect

Condition is graded on a 10 point scale, with 10 as perfect and 0.5 as barely intact. The common terms map roughly like this:

• Near Mint (9.2 to 9.8): looks new, sharp corners, no spine stress.
• Very Fine (7.5 to 8.5): minor wear, a few small stress marks.
• Fine (5.5 to 6.5): visible wear but still attractive.
• Very Good (3.5 to 4.5): well read, creases, rounded corners, but complete.
• Good and below (2.0 and lower): heavy wear, tears, small pieces missing.

Defects collectors look for: spine stress lines (small creases that break the color near the spine), spine roll, rusty staples, corner wear, subscription folds down the middle, writing, tape, missing coupons and Marvel Value Stamps (1974 to 1975), and color touch or other restoration.

CGC and professional grading

CGC is the largest grading service; CBCS and PGX also grade. They seal the comic in a plastic holder with a label. A blue label is a universal grade, yellow is signature series, purple means restoration was detected, and green is a qualified grade with a specific defect noted. Grading fees run tens of dollars per book and up, plus shipping, so it only pays on books worth more than the cost.

The 9.8 effect is why so many modern books get submitted. For comics printed in large numbers, a 9.8 can sell for many times a 9.6, while a raw (ungraded) copy of the same book sells for a few dollars. For older books, every step on the scale matters, and a Silver Age key in 4.0 can still be worth thousands.

Do not clean, press, trim or repair a comic before grading. Restoration is detected and lowers value sharply.

Value table

What to photograph

• The front cover, flat, in even daylight.
• The indicia on the first page or inside cover, sharp enough to read.
• The back cover and the spine.
• A raking-light shot across the cover to show creases and spine stress.
• For a run of comics, the cover prices and issue numbers of the whole stack spread out.

For a key Golden or Silver Age issue, the professional route is a comic dealer who handles high-end books, or submission to CGC. The first edition guide covers books in the same family of questions.