It is the hope and dream of every comic book collector to get their hands on a super rare comic. Unfortunately, high quality copies can go for millions of dollars. This also applies to rare comics of lesser grade. A new Heritage Auctions auction for a CGC 5.5 Action Comics #1 is going on now, and it’s way out of my price range.
The issue in question has cream to off-white pages, and has a CGC blue universal label for unrestored copies.
According to CGC’s census, just 37 copies have been certified with a blue label, and only eight of those graded higher than this one. The Photo-Journal Guide to Comic Books rates it a “7” or “scarce” on its scarcity index.
While the issue had a 7.5 rating earlier, tears at the top and bottom of the spine were sealed with glue. CGC was able to remove the glue to bring it back to its unrestored condition, bringing the current slabbed rating to a 5.5.
Matt Nelson, Primary Grader of CGC, commented: “Having seen many Action #1’s over the years, I am deeply impressed with this copy’s eye appeal.The book presents as a considerably higher grade than 5.5, lacking the usual fading, staining or creasing commonly seen on mid grade copies. White and bright, this Action #1 is one of the best looking among the remarkably rare pool of unrestored copies in the world.”
So, how much is the book going for? When the issue initially came to our attention a few days ago, the bidding was around $350,000. The auction continues for the next 20 days and has increased to $420,000. It wouldn’t come as a surprise to me if this book reached the $700,000 range by August.
Is this the holy grail of comic book collecting? If you had the funds would you bid on this issue?