In a previous article, we analyzed the current market trend for the key books of Marvel Comics’ Captain Marvel. Coincidentally, 2019 saw the worldwide premiere of another similarly named Captain Marvel from DC Comics, who saw his first appearance almost three decades earlier. With the value of Marvel’s captain in decline, one has to wonder how DC’s own captain is performing.


SHAZAM! #1 (1973)

The first true appearance of Captain Marvel was in Whiz Comics #2 (1940) (or #1; the numbering varies depending on technicality), published by Fawcett Comics. The supply is extremely limited so unfortunately the market trends can’t be determined. Fortunately, Captain Shazam has another key, which is the 1st appearance in DC Comics. For the purposes of this article, we will focus on the Shazam! #1 (1973).

Below is the sales data for the book in CGC 9.8, which represents the top 6.0% of the CGC census:

For the current year, the value of the book has been in a steady decline. This overall trend can be separated into two parts: (1) the time before the release of the feature film, and (2) the time after the release. The point of this separation is due to the spike in value around early April 2019.

Interestingly, while the book began the year in a decline, it suddenly spiked up in the two months leading up to the worldwide release. This is observed in the sales data below:

A seesaw behavior of the market value. From Jan 1, the value fell from a high of $1300 to a low of $560 in mid-February. Over -50% decline. This suddenly reversed at a consistent pace until the release of the movie at a high of $1395. What is the cause of this sudden decline and reversal? Perhaps profit taking by speculators? To further illuminate the pricing action that occurred, we look to the sales data in the days that follow the movie’s release.

Below, we observe the sales data since April 2019:

Since then, the value of the book has again been in a decline.  This time, the loss in value is more concerning due to the larger volume of sales.  It is falling and fast.  Keeping in mind that the book was selling for around $600 in early 2018 and $450 in 2017, we may have yet seen the bottom.  Furthermore, no catalyst for upwards pressure is in sight.

One might wonder if perhaps this behavior is random. To further validate the market behavior observed above, we look to the lower grade of CGC 9.4, which represents an overwhelming 49.0% of the top CGC census. Below is the sales data:

Here the sales data for 9.4 point to even more pessimistic outlook for the book. It’s been in steady decline for the year and didn’t even get to benefit from the sudden spike CGC 9.8 experienced in early April 2019. The volume of sales is even greater; further supporting the strength of the downward trend.


SHAZAM #2 (1973)

Of note, the villainous character Mister Mind appeared in a post-credit scene. The prospects of investment speculation on Shazam! #2, his first appearance in DC Comics, appears to be very bleak. Below is the sales data for CGC 9.8 and 9.8 of Shazam! #2:

There has barely been any activity in the market for the book.  On the bright side, atleast it hasn't drastically decreased in value.



  • SHAZAM #1: Sell
  • SHAZAM #2: Hold / Reduce



“Superpowers? Dude, I don't even know how to pee in this thing.” - Shazam