CGC-graded Action Comics #1 Sells for Over $2 Million

A copy of Action Comics #1, graded CGC 8.5 by Certified Guaranty Company (CGC), has been sold for one of the highest prices ever paid for a comic book: just over $2 million.

Action Comics #1, graded CGC 8.5, with CGC certification number 0010101-001. Click image to enlarge.

The ComicConnect online auction ended June 12, with a winning bid of $2,052,000.

This month is the 80th anniversary of Action Comics #1, the June 1938 comic book that introduced the world to Superman. Action Comics #1 is the undisputed king of "grails," the comic books most valued by collectors. Only a few dozen copies are known to still exist, many of them graded by CGC.

Action Comics #1 has had a superb sales history in recent years, with copies setting a number of records:

• In 2010, a copy graded CGC 8.0 was sold through ComicConnect for $1 million, the first comic book to sell for seven figures.
• In 2012, a copy graded CGC 9.0 was sold through ComicConnect for $2.16 million, which was then the highest price paid for a comic book.
• In 2014, a different copy graded CGC 9.0 was purchased by New York-based ComicConnect and its affiliate, Metropolis Collectibles, for a record $3.2 million. It was later resold to a private collector.

"The two things all of these comic books had in common was they had been certified and encapsulated by CGC and sold by ComicConnect," said Vincent Zurzolo, COO of ComicConnect. "The winning combination of the most trusted name in grading and vintage comic sales, CGC and ComicConnect, are what made these earth-shattering sales possible. The CGC label makes selling easier by giving bidders confidence in the authenticity and grade, whether it is a high-flying copy of Action Comics #1 or a more down-to-earth collectible. ComicConnect’s sterling reputation and vast customer/investor database brings the players to the table in what have been three industry-altering sales."

The seller and buyer from the most recent Action Comics #1 sale were not revealed. In a nod to the importance of the book, its CGC certification number is 0010101-001.

Action Comics #1 features an image of Superman holding a car over his head on the cover. Only the first 13 pages of the anthology are dedicated to the character, including his origin story and the first appearance of Lois Lane. Still, Action Comics #1 is generally regarded as the beginning of the Golden Age of comic books, with Superman's success laying the groundwork for the superheroes that debuted soon after, including Batman (1939), the Green Lantern (1940), Captain America (1941) and Wonder Woman (1941).