I’ve had this book on my list for as long as I can remember. It fits in with my belief that 2nd appearances are often, but not always, undervalued. So when fellow CBD writer Mike Huddleston posted his brave Overvalued Spotlight last week I knew it was time to dust off this old pick. Truth be told Mike and I discussed the two posts and tried to co-ordinate them, five days apart is close enough.
This week’s Undervalued Spotlight shines on Flash Comics #2.
Flash Comics #2 brings us the 2nd appearance of the Flash and the 2nd appearance of Hawkman, it’s also the 1st Hawkman cover. With a publish date of February 1940 the book was actually published in 1939 with a street date of December 20th 1939. As an aside 1930s superheroes are the rarest of breeds and I think all the January and February 1940 superhero comics is a cheat way to grab yourself a 1930s superhero without having to pay 1930s superhero prices.
To steal a bit from Mike’s post we see that Flash Comics #2 is actually worth less in the Guide that Mike’s Flash #105 which isn’t surprising given the hobby’s tendency to put value on 1st issues like X-Men #94, Captain America #100 etc. The hobby also loves #1 issues which is probably why the inferior All Flash #1 is valued more in the Guide. The one that makes no sense is Showcase #8, here we have the 2nd appearance of the relaunch worth more than the 2nd appearance of the original.
I’m often scolded for putting impossible books up on the Spotlight but although there are only 21 CGC graded as of this post this book trades actively. There have been 4 sales in the last 20 months. recent sales include a CGC 4.5 in August and a CGC 2.5 also in August. The books sold for 13% over Guide and 37% over Guide respectively. Also of note is a CGC 7.0 that sold early last year for 10% above current Guide.
I know the market looks for hooks that can add demand and thus value to books and I know that things like re-launches, new title launches and #1s are all hooks that can add value and I’m not questioning why because they do add value. I guess I’m looking at the relative under performance of 2nd appearances and questioning that.
I say the market will get it right and start putting more value on books like Flash Comics #2.
The 47th Overstreet price break for this book is $2500/3750/$8000/$14000/$20000 in the 4.0/6.0/8.0/9.0/9.2 grade splits.
Reasons to buy this comic book as an investment.
- 2nd appearance Flash and Hawkman
- 1st Hawkman cover