Anyone Can Get Scammed: How to Prevent Fraud When Collecting Key Comics
Collecting key comics is like buying high-value paintings, art and sculptures, wine, sports trading cards, vintage vehicles, and so on. Many people don’t see it that way, but valuable key comic books are financial assets you could add to a portfolio. You should understand their financial, historical, and current marketplace value before buying them.
A key comic book could be worth hundreds, thousands, tens of thousands, or more. You must understand how to buy one before you try.
Here are several ways to not become a victim of a scam when collecting key comics.
Know What You’re Buying
How do you buy a used car? You must know the make and model, get a CarFax or similar vehicle history report, request a test drive and inspection, and so on. It would be very foolish to buy any vehicle sight unseen, not understand its market value, or not perform any personal research and verification.
Numerous websites provide free value guides that you can use. Just input the title of the comic, issue number, year of publication, and other factors. Then, you will get a ballpark estimate of the comic’s current market value as a key. Such sites include:
The easiest way to become the victim of a scam is to not understand the baseline market value of the key comics you’re trying to buy.
Do Some Basic Historical Research
When collecting key comics, you should at least understand why it is a “key comic” in the first place. For example, there is no excuse not to have an independent inspection of a house or property you plan to buy, right? You do not need to be a comic book historian, but you should make basic notes of the historical importance of the keys that interest you.
For example, Avengers #66 from 1969 is an important key because it features the first appearance of the indestructible metal adamantium. It has a current collectibles market value of almost $2,000 if it is in near-mint condition. All you have to do is ask Google why specific key comics are “keys” or what their historical significance is to the publisher and fans.
Vet Seller online and Meet in Person
Never send money to strangers online or via a money app. Vet the history of the seller on eBay or other similar online auction sites. Be wary of buying high-value key comics on Facebook Marketplace or general social media. Meet the seller in person at a comic book shop, convention, or a key comics authentication expert’s organization.
Never Buy Raw Keys
A raw comic book is a comic book without a slab, grade, or verification. It might be in a Mylar sleeve on a backing board, with no other aesthetic protection. It is fine to buy a raw comic book if it has no high collectibles market value or if it is in the $1 bin at your local comic book shop.
If you’re trying to buy collectible key comics worth hundreds or thousands, or more, and the seller tries to hand you a raw comic book, then it probably is a scam.
Verify Authenticity
There is a process for buying, selling, and collecting key comics. High-value key comics are usually subject to inspection, grading, slabbing, and signature authentication by experts. The key comic should be in a slab, so inspect the slab for signs of damage and tampering. Look for the signature of the expert and barcode authentication on the slab.
Experts and services that sign, authenticate, grade, and slab key comic books include:
There should be an authentication signature, barcode, and business name on the slab that can help you verify the business and the person who authenticated the value for the comic. Don’t take the seller’s word for it or trust “Certificate of Authenticity” papers.
Pay Via Credit Card
Pay for key comics with a credit card or apps like PayPal, Apple Pay, and Google Wallet. Credit cards and these digital payment apps are highly fraud-resistant. They usually offer zero-liability protection service. Credit card services can halt payments when alerted, and some may contact you before completing such payments.
Venmo, Zelle, and CashApp are highly fraud-resistant, too, but they are often used in scams as well. Never send money via a wire transfer when buying key comics. Also, it may not be a good idea to utilize, expose, or compromise your bank account data in such transactions.
Collecting Key Comics With Confidence
You need to be on guard when you are collecting key comics, especially if you are a casual reader or new to comics investing.
A seller can sense if you are an expert or a novice when it comes to buying keys. Any expert can be the victim of a scam, but it may be likelier to happen to a comic book novice.
It is not difficult for scammers to insert fake or replica comics into a slab. It is not difficult for scammers to fake grading or authentication, especially for novice collectors who may know nothing about the practices. Scammers can also lie to you about why the comic is a key.
Some high-end scammers buy specific comics, create short-term shortages, and then sell phony keys at inflated prices to buyers in fear of missing out.
If you don’t know anything about comics, there are numerous ways that you could become the victim of a scam. Learn the basics you need to know about collecting key comics before you buy or sell them.
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Allen Francis is the lead staff writer for PFAdvice.com at District Media, Inc., specializing in comic book investing, collectibles, popular culture, and practical wealth-building strategies. A New York City native, Marymount Manhattan College graduate, and former college academic advisor, librarian, and adjunct instructor, he brings 15+ years of professional writing experience and a proven personal transformation from financial illiteracy to expert collector. He also the author of The Casual’s Guide: Why You Should Get Into Comic Book Investing.