Can’t Afford a Copy of Action Comics #1? Collect These 5 Historic Superman First-Appearance Covers Instead
It is human nature to covet what we cannot have. What comic book collector wouldn’t want the Holy Grail of comics, a near mint copy of Action Comics #1? A near-perfect, 9.0 CGC copy of Action Comics #1 from 1938, featuring the first appearance of Superman, sold for $15 million in January 2026. However, a copy of Action Comics #1 is a prize that even rich collectors struggle to obtain.
In 2013, a Minnesotan house flipper found a copy of Action Comics #1 in the wall of a house he was remodeling. It sold at auction for $175,000. He could have sold it for $250,000; after finding it, a relative grabbed it and tore it, decreasing its market value by $75,000. It’s a great story, but such circumstances will probably never happen for you.
What is plausible is owning one of the first six Action Comics comic book cover appearances of Superman from 1938 to 1939, not counting the first issue. While Superman was a staple in the anthology series, he did not appear on every cover in the first two years or pulication.
It won’t be cheap, but you could own one of those historic, Golden Age, non-#1 Action Comics comics.
The Ultra-Scarcity of 1938 First Edition Printings of Action Comics #1
200,000 Action Comics #1 were printed in the 1938 run. Many were lost to moral panic book burnings and parents throwing away comics in the mid 20th century. !938 comic book paper was cheap and not built to last. Less than one hundred 1938 first edition Action Comics #1s exist in the world. Perhaps 10 of those are in satisfactory, near-mint, and near-perfect condition.
Most millionaire collectors can never hope to own a pristine copy of Action Comics #1. Their ultra-scarcity makes them obscenely invaluable. However, what if you could own a relatively rare Golden Age Action Comics issue that is adjacent to the legendary #1 issue?
Rare and Valuable Non-#1 Action Comics Issues
Superman did not appear on all of the early covers of Action Comics, an anthology series of the era. While Superman is a staple character in the anthology, he is only featured on six of the first 14 covers of Action Comics. Superman is only featured in a small circular insert on two of those six covers, which doesn’t technically count as a full cover appearance.
If you could own one of five iconic comics from the first 24 months of Action Comics, featuring Superman on the cover, barring issue #1, you can still rightfully claim to own a part of valuable comic book history.
Here are the second, third, and fourth appearances of Superman on Golden Age covers of Action Comics. Two comics on this list feature the first appearances of Superman in circular inserts on the cover.
1. Action Comics #7 (1938) DC
Action Comics #7 features the second appearance of Superman on a comic book cover. It also features the first time that the word “Superman” ever appears on a banner on the bottom left of the cover. The cover features Superman saving a man in a green suit from falling.
Although Superman is technically hovering, this cover hints at Superman’s power of flight. At this point, Superman could only leap high distances. The main story is not memorable; Superman joins a local circus to help it from folding.
This is a rare and coveted issue by collectors; less than 47 copies of this comic may currently exist. It is considered by some to be the “Poor Man’s Action Comics #1,” since it’s relatively easier to buy the second comic book cover appearance of Superman for many.
An ungraded and unslabbed copy of this comic in raw form is worth almost $70,000. This comic in raw, ungraded form has maintained its value within the $70K range since January 2025, according to Price Charting. It rocketed in value from $10,000 in December 2023 when raw copies of this very rare comic began entering the market.
2. Action Comics #10 (1939) DC
This comic, published in March, 1939, is historically important for symbolically foreshadowing WWII, which would globally erupt in September, 1939. The cover features Superman attacking warplanes. In the main story, Superman goes undercover in a prison to report and expose a corrupt and abusive prison warden.
This comic features Superman’s third-ever appearance on a comic book cover. The cover was drawn by Superman co-creator Joe Shuster. It is also a very rare comic, with about 50 listed in official CGC records. It is considered the 13th most valuable Golden Age comic by the Overstreet Price Guide.
The image of Superman high in the air on this cover became the inspiration for the cover of Superman #1, which was published in June 1939.
A copy with a 6.0 CGC is worth $12,075 on the collectibles market. According to Price Charting, this comic, with a 6.0 CGC grade, has maintained its $12,075 value exactly for the last five years.
3. Action Comics #12 (1939) DC
If you could find a near-perfect copy of Action Comics #12, you might have a fortune on your hands. It is an ultra-rare book. A copy of this comic in a 9.4 or 9.6 CGC grade could be worth $150,000 to $250,000. However, it is hard to find this rare comic in grades about 6.0 on the open collectibles market.
This comic features the first time that Superman is on an Action Comics cover in a circular insert. As an anthology series, the other main characters would sometimes appear in small circular inserts to advertise their stories.
The tiny Superman insert is notable for showing Superman breaking out of chains binding him, which is used in modern live adaptation animation bumper logos.
This comic is also valuable for non-Superman reasons; it features the first advertisements for Detective Comics #27, the comic that introduced Batman to the world.
Price Charting lists this comic as being worth $40,800 in a 6.0 CGC grade. It has kept that value since 2024 when the comic popped on the market.
4. Action Comics #13 (1939) DC
This comic features the fourth appearance of Superman on an Action Comics cover. Superman appears heroically on the cover as he stops a train from falling into a river. The cover was drawn by Joe Shuster. This comic has historical importance because it features the debut of the Ultra-Humanite.
Before Lex Luthor, the Ultra-Humanite was supposed to be Superman’s main foe; he was an initially nameless, genius-level mad scientist in a wheelchair who wanted world domination.
This comic is very rare; less than 44 copies may exist in the world.
A raw, ungraded version of this comic might be worth $5,000. A copy of this comic with a 4.0 CGC is worth almost $77,700 on the collectibles market. According to Price Charting, this comic has maintained a collectibles market value of over $77,700 for the past five years.
5. Action Comics #14 (1939) DC
A copy of Action Comics #14 is very rare to find. Zatara the Magician, father of Zatanna, is again the most prominent figure on the cover. Superman appears in an circular insert for the second time on a cover. This issue marks the first appearance of the character Clip Carson, a globe-trotting adventurer.
Superman goes up against the Ultra-Humanite again in this issue. The Ultra-Humanite was also the first serial comic book supervillain.
A 6.0 CGC grade of this comic is worth over $3,700 and has kept its market value for over five years.
Value is in the Eye of the Beholder
Everyone knows that a copy of Action Comics #1 is worth a lot of money if you can find one. There may only be 100 copies left in existence, and only a handful are in near-perfect condition. When collectors think of rare, Golden Age key comics, they think of this one.
The first two or three years of Action Comics issues, from 1938 through 1940, feature a lot of rare, valuable, and relatively affordable key comics that you can feasibly add to your collection or investment portfolio, unlike Action Comics #1.
Still, don’t give up hope on that Action Comics #1. If you can find a copy of Action Comics #1 in any condition, no matter how poor, it could still be worth four, five, or six figures to some collector out there due to its scarcity.
In June, 2025, a collector bought the unattached cover, the cover alone, to Action Comics #1 for $400,000. The CGC grade for this front and back cover was only 2.0. Still, someone wanted it so badly they paid $400,000 for it.
If you find a copy of Action Comics #1, even in poor condition, snap it up. The pristine copies will almost always be out of reach. So, look for the historic and scarce first appearances of Superman on those early Golden Age covers of Action Comics, your next and most viable option.
This post includes affiliate links. If you purchase anything through these affiliated links, the author/website may earn a commission.
You May Also Like…
- Here’s Why Superman Will Never Really Die
- 10 Odd Powers You Did Not Know Superman Had
- The 8 Best Lex Luthor Comics Where He Becomes Superman’s Greatest Enemy – and His Greatest Ally
- The Strange Evolution of Supergirl: A Guide to Her Most Confusing Comic Book Stories
- The Best Comic Book Sleeves, Boards & Top Loaders: 9 Must-Have Picks for Beginners and Expert Collectors
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.