Hulk #1 is a blue chip key issue that will always be sought after by any serious comic investor who has substantial means. The Hulk as a character requires no introduction. One of the most recognizable superheroes around the world, the Hulk is a founding member of the Avengers, and, although often debated, is generally considered to be the “strongest Avenger.” His fights with Thor (e.g., Journey Into Mystery #112), the Thing (e.g., Fantastic Four #12), and Wolverine (Hulk #180 and #340) are legendary.
The Hulk has always been the king of the hill and the ultimate measuring stick for other superheroes. He has served as the inspiration for many other incarnations including a grey Hulk, a Red Hulk, a She-Hulk, and an Immortal Hulk. He is probably the most important character in Marvel history, except for Spider-Man.
All of the above make Hulk #1 one of the most sought-after Silver Age mega-keys of all time. Let’s look closer at the Hulk #1 that PWCC has for sale.
CBCS has verified that the legendary Stan Lee has signed this particular copy on the inside cover. Considering that it’s now impossible to obtain Stan’s signature, his signature presents a major value add. On the other hand, this is a “restored” copy because of light color touch on the cover and trimmed edges.
Lastly, it was graded by CBCS which is also a slight negative since the market typically prefers CGC. My educated guess is that the seller chose CBCS because CBCS provides the unique service of verifying signatures. CGC would have provided this copy with a green "qualified" label instead of verifying Lee's signature.
This is a difficult issue to price due to limited sales data; however, there are a few price points that we can look at to provide us with directional information.
According to GoCollect, the FMV of a blue label CGC 5.0 copy of this book is $33,000. Back in May, a CGC 5.0 sold for $31,200. The last sale for purple label 5.0 was for $11,202 in April 2021. There's very little data for yellow label 5.0s, but the most recent sale was for $21,550 in February 2021. Seven months later, a 5.5 yellow label sold for a whopping $44,247.
There's even less data for CBCS-graded copies, but the last sale for a CBCS 5.0 blue label was for $14,400 in June 2019. Two years later, a CBCS blue label 5.5 sold for $39,995 in May 2021 (during the height of the comic boom). There haven't been any sales for any CBCS signed and / or restored copies during the past seven years.
Even with all of this sales data, there aren't any strong comparables. Still, the asking price for the Hulk #1 on PWCC looks pretty reasonable. This isn't an exact science, but as a starting point, recent sales data suggest that the FMV of a CGC 5.0 with Stan's signature is probably around $40,000.
In comparison, the PWCC copy has Lee's signature, but it also suffers from some significant restoration (e.g., light color touch, edges trimmed). If, as a rule of thumb, you assume restored copies are worth about half as much as their blue label counterparts (perhaps a big assumption on my part), then a CGC 5.0 purple label with Lee's signature might sell for around $20,000. A CBCS 5.0 purple label might sell for a bit less.
According to this informal analysis, the asking price of $15,000 (which includes the 20% buyer's premium) on PWCC looks more than reasonable. In addition, because the seller is accepting offers, you might be able to purchase it at a lower price.
What would you offer for the seller for this CBCS graded, restored copy of Hulk #1 with Stan Lee's signature? Please let us know in the comments section below!
