Top 15 Best Silver Age Comics To Invest In For Long Term Growth Post-Pandemic (1956-1969)

Current Market Situation

The past few years, accelerated by the Pandemic, have seen a dramatic rise in the number of individuals looking to invest. Traditionally, when you think of investing, most people's thoughts will revert to Stocks and Shares, Index Funds, Bonds, Property/Real Estate etc. However, more recently and particularly amongst the younger generations, we have seen an increase in popularity towards alternative assets; comics, trading cards, commodities and cryptocurrency, all of which have seen their prices rise exponentially.

In accordance with the laws of supply and demand, seeing an influx of new collectors/investors flood the market, in combination with there being a finite amount of issues out there, has resulted in a strong appreciation of comic book values.

Coming out of the Pandemic, we are seeing a slight reset and prices are dipping to an extent, as the world returns to normal. Likely this is due to a shift in expenditure amongst consumers who had more expendable cash to invest during lockdowns.

It is impossible to say what the future holds with any level of certainty. Will we see another growth period as strong as the past 2 years any time soon? Unlikely. However, what we can say is, comic books have been around as an alternative investment for decades. Comic books have a limited print run and are perishable, meaning that as the years go by, there are less and less of them in the same condition they were once in. As a result of this, desirable key issues become more scarce and tend to become more valuable over time. Obviously there are external factors that will affect the desirability of these issues from year to year (movies, tv shows, popularity, hype etc.) but when we are thinking long term, a widely used investment quote; 'Time in the Market, Beats Timing the Market', appears fitting.

 

How Do Comics Compare Against The Stock Market?

As a means for comparison, we can compare the return on investment of some key comic issues, against a more traditional investment method. In the below examples, I have used the S&P 500 index as it is considered a benchmark for stock market performance. For ease of comparison, I haven't factored in any fees or additional costs which would need to be accounted for in reality when selling investments. 

 

Action Comics #1 (1938), the first appearance of Superman in a CGC 3.0 compared against the S&P 500 (dividends reinvested) if you invested the same amount in both (2004-2021).

Action Comics #1 is the holy grail of all comics and rarely changes hands. I have used a CGC 3.0 copy for comparison as this has been traded multiple times over the past 20 years. Here I can see that a copy was sold for $55,596 in 2004 and in 2021 for $1,638,759. This would effectively achieve a huge 2848% Return On Investment (ROI) across the 17 year timeframe. Comparatively, the S&P 500 has achieved a 436% return.

The table also shows how the investments compare if hypothetically the buyer at each price point had instead placed the purchasing money into an S&P 500 index fund. To highlight the strength of this particular high-end comic investment, the index fund would have only resulted in a greater return if $300,000 was invested in the S&P in 2010, then sold in either 2014 or 2016. If invested and sold in any other years, the comic would have achieved the greater ROI.

 

Batman #1 (1940), the first appearance of The Joker and Catwoman in a CGC 3.0 compared against the S&P 500 (dividends reinvested) if you invested the same amount in both (2002-2021).

Batman #1 is another blue-chip investment key that I have used here for comparison vs the stock market. Yet again, I can see the comic is the better long term investment over the full 19 year period that I have data for (2002-2021). Using the same methodology as the previous example, entering in and selling on different years, we can also see that the comic investment remains superior the majority of the time.

 

Amazing Spider-man #300 (1988), the first appearance of Venom in a CGC 9.8 compared against the S&P 500 (dividends reinvested) if you invested the same amount in both (2002- July 2022).

As a third and final example, I have used a much more common, more recent copper age key - Amazing Spider-man #300 in a CGC 9.8. This is an extremely in demand book, however, there are ~1300 CGC Universal copies in a 9.8 alone, making it an easy book to pick up in the market. As there are so many sales each year, I have taken the mean average sales value. Nevertheless, when compared against the stock market over the full 20 year period from 2002-2022, this comic has outperformed the S&P 500 index. In comparison with the blue-chip keys, the value of this book appears to have been more volatile throughout the 20 year time period, most notably spiking in price in 2006, 2020-22. The appreciation of value is not as linear as the older, more scarce books. . 

 

How To Choose The Best Books To Invest In?

Selecting the best books to invest in is a challenge and any methodology used will be highly subjective to the individual as it isn't an exact science. Like any traditional investment portfolio, there are many key factors to consider. Here are my top selection criteria when deciding on whether to invest in a book or not for the long term:

1. Risk Tolerance - New or Old Characters

• Lower Risk - Key comics that contain household names (ie. Batman, Superman, Spider-Man) are more likely to stand the test of time. If a character has been around for decades and remains popular today, the likelihood is they will be around for the foreseeable future. I would consider key issues amongst these series relatively low risk and would expect to see consistent price appreciation long term.
• Higher Risk - I would consider the introduction of more recent characters who are going through a rapid growth period in popularity (ie. Miles Morales etc.) a more high risk investment. Characters/series like this could become household names for decades to come or they could be subject to a more temporary 'flash in the pan' phase. There is potential for a higher % return on books like this, but the time to purchase needs to be right.

2. Scarcity

In my opinion, when thinking long term, a major point for consideration would be how scarce the book is. There are two main points here:

• Slabbing Comics is a relatively new concept (CGC started grading comics in 2000). Prior to 2000, with high value books, there was more onus on the individual to store and care for their collections. Now, when books are released and immediately encased, you would assume that less issues will perish and degrade over time. This also goes for older keys that have been slabbed and have more chance of maintaining their existing grade.
• Availability/Census Volumes - If there aren't many issues of a specific comic left in existence, this should increase the likelihood of it appreciating in value over time, as long as the demand remains the same or increases. If a book has 30,000< or <2000 graded copies on the CGC census, then the demand for the issue needs to increase proportionately to see a rise in similar % value. More scarce important issues will tend to command a higher price - being able to spot the undervalued books in the market will pay dividends in the future.

 3. External Factors - Market Conditions

The examples given above in comparison with the stock market highlight the importance of entering into a comic investment at the right time. For instance, the Amazing Spider-Man #300 issue spiked in price in 2006 (mean average: $1126) and traded at a lower value than this for a number of consecutive years following. Although timing the market is arguably impossible, some external factors can have a great affect on comic values (ie. movie releases, news, tv shows being optioned etc.), if a price has suddenly spiked, this may not be the best time to enter into the market. At risk of sounding cliché, Warren Buffet once said:

“be fearful when others are greedy, and greedy when others are fearful.”

 

Overall, investments need thought, research and consideration and shouldn't be rushed. Selecting the right books is part of the challenge and I hope some of the criteria I personally use above has provided some food for thought.

Using the thought process above, here are my Top 15 long term investment Silver Age comics to purchase at this moment in time. It is important to consider that we are coming out of a Pandemic, where prices increased at an unprecedented rate and the market is now reacting during the aftermath. I personally think that rather than holding out and trying to guess when we have hit the 'bottom' of the market, which is impossible to tell, now that prices have dipped past a certain % point, it is a good entry point for the majority of key issues;

1. Brave and the Bold #28 (1960), First Appearance of Justice League of America

Check for stock

• Risk Tolerance - Low - highly popular superhero team - room to grow in popularity amongst the mainstream public, mediocre reaction from 2017 movie.
• Scarcity - ~1200 Universal CGC Copies.
• External Factors - DC potentially undervalued, Market focus is predominantly on Marvel Comics

 

2. Daredevil #1 (1964), First Appearance of Daredevil

Check for stock

• Risk Tolerance - Low/Medium - well known superhero with potential for further growth. This is a major first appearance issue which currently hasn't hit the heights of the higher-tier blue-chip silver age keys (ie. Hulk #1, X-men #1, Tales of Suspense #39, Journey into Mystery #83 etc.)
• Scarcity - ~4500 Universal CGC Copies
• External Factors - Although the market focus is predominantly on Marvel key issues at the moment, Daredevil hasn't hit the popularity of other key Marvel key characters and is likely to increase in popularity as the character is planned to be used in future movies/tv shows.

3. Brave and the Bold #54 (1964), First Appearance of The Teen Titans

Check for stock

• Risk Tolerance - Low/Medium - important superhero team who are not well known amongst the non-comic book community, lots of room for potential growth in popularity.
• Scarcity - ~1200 Universal CGC Copies
• External Factors - Market focus is predominantly on Marvel Comics, DC potentially undervalued, 

4. Avengers #1 (1963), First Appearance of the Avengers

Check for stock

• Risk Tolerance - Medium - arguably now the most well-known superhero team on earth amongst the general population? Could become more desired long-term as the younger generations who lived through the movies look to invest later in their lives (nostalgia).
• Scarcity - Low/Medium ~3600 Universal CGC Copies
• External Factors - Highly popular currently due to the movie franchise that ended in 2019. Endgame and Infinity War were both in the top 5 Box Office grossing movies of all time. 

5. Justice League of America #1 (1960), First Issue to Self-Titled Series

Check for stock

• Risk Tolerance - Low - highly popular superhero team - room to grow in popularity amongst the mainstream public, mediocre reaction from 2017 movie. 
• Scarcity - ~1300 Universal CGC Copies.
• External Factors - Market focus is predominantly on Marvel Comics, DC potentially undervalued, 

6. Batman #121 (1959), First Appearance of Mr. Freeze

 

Check for stock

• Risk Tolerance - Low - highly popular superhero - movies are constantly refreshed over time. Key Batman villain.
• Scarcity - ~800 Universal CGC Copies.
• External Factors - Market focus is predominantly on Marvel Comics, DC potentially undervalued, recent highly successful Movie Release.

7. Green Lantern #1 (1960), First Issue to Silver-Age Series

Check for stock

• Risk Tolerance - Low/Medium - popular superhero with further potential to grow in popularity amongst the public.
• Scarcity - ~1100 Universal CGC Copies.
• External Factors - Market focus is predominantly on Marvel Comics, DC potentially undervalued.

8. Aquaman #1 (1962)

Check for stock

• Risk Tolerance - Medium - relatively popular superhero with lots of further potential to grow in popularity amongst the public.
• Scarcity - ~900 Universal CGC Copies.
• External Factors - Market focus is predominantly on Marvel Comics, DC potentially undervalued. Recent movie release in 2018 with a sequel in production.

9. Daredevil #7 (1965), First Appearance of Daredevil in Red Costume

Check for stock

• Risk Tolerance - Low/Medium - well known superhero with potential for further growth. Major costume first appearance as Daredevil is renowned for the red coloured suit.
• Scarcity - ~1700 Universal CGC Copies.
• External Factors - Although the market focus is predominantly on Marvel key issues at the moment, Daredevil hasn't hit the popularity of other key Marvel key characters and is likely to increase in popularity as the character is planned to be used in future movies/tv shows.

10. Superman's Girlfriend, Lois Lane #70 (1966), First Silver Age Appearance of Catwoman

Check for stock

• Risk Tolerance - Low - well known superhero with potential for further growth.
• Scarcity - ~1000 Universal CGC Copies.
• External Factors - Market focus is predominantly on Marvel Comics, DC potentially undervalued. 

11. Action Comics #242 (1958), First Appearance of Brainiac

 

Check for stock

• Risk Tolerance - Low - Milestone superhero comic series, major superman villain.
• Scarcity - ~500 Universal CGC Copies.
• External Factors - Market focus is predominantly on Marvel Comics, DC potentially undervalued. Action Comics #1 is still the most valuable comic of all time, it is surprising that some of the later key Action Comics issues are still relatively affordable.

12. Action Comics #252 (1959), First Appearance of Supergirl and Metallo

 

Check for stock

• Risk Tolerance - Low - Milestone superhero comic series, major first appearance.
• Scarcity - ~1000 Universal CGC Copies.
• External Factors - Market focus is predominantly on Marvel Comics, DC potentially undervalued. 

13. Showcase #34 (1961), First Appearance of the Silver-Age Atom

Check for stock

• Risk Tolerance - Low - Important first appearance of character, minimal popularity amongst mainstream population.
• Scarcity - ~600 Universal CGC Copies.
• External Factors - Market focus is predominantly on Marvel Comics, DC potentially undervalued. A key character who hasn't had much exposure to the non-comic collecting community.

14. Incredible Hulk #2 (1962), First Green Skinned Hulk

Check for stock

• Risk Tolerance - Low/Medium - Highly popular character. Being renowned for his green colouring, this issue sees the Hulk become green for the first time.
• Scarcity - 1100 Universal CGC Copies.
• External Factors - Strong market focus on Marvel comics currently.

15. Tales of Suspense #48 (1963), First Iron Man Red and Gold Armour

Check for stock

• Risk Tolerance - Low/Medium - Highly popular character. Being renowned for his red and yellow suit, this issue sees Iron Man in this armour for the first time.
• Scarcity - 800 Universal CGC Copies.
• External Factors - Strong market focus on Marvel comics currently.

 

When accumulating comic investments, like with any traditional portfolio, the key to managing risk would be to ensure that you have strong diversification and have covered specific avenues. The list within this article is focused around Silver Age comics leaving room to post future articles on other eras. However, as general advice, if you want to diversify your collection to reduce risk, you may want to consider;

• A mix of different comic series
• A spread of books from a range of eras (modern, copper, bronze, silver, golden age books)
• Different publishers (Marvel, DC, Image, Gold Key etc.).  
• A combination of traditional key issues vs potential future keys

I believe this is the best way to mitigate risk and give yourself the best chance at a strong ROI in the future.

 

Thanks for reading and feel free to leave your comments or thoughts below, I'd be interested to hear what factors other people use when deciding on what to invest in for the long term.