This is the third article I have written about Punchline; you can read the other ones here and here. Now that she has fully emerged onto the comic scene, we can accurately evaluate all the Punchline key appearances.

Batman #89 – First Cameo

We get our first look at Punchline in Batman #89 and by every objective measure, this is a key appearance for the character. She shows up on two separate panels and has a speaking role. This is very much the definition of a cameo appearance but super important because it is the first time she has ever been seen in comics, but to be clear, it is nothing more than a tease. I prefer Cover B above all the others because there were approximately 17,000 copies ordered by retailers compared to approximately 57,000 for Cover A. Cover B regularly sells for $50 to $75 less than Cover A.

Hell Arisen #3 – First Full or Second Cameo?

This book is a tricky one for me but most certainly a major key Punchline appearance. It is the first time we get a full-body shot of the character. We see her in six panels, and she does not have a speaking role in the book. This is really a second cameo by virtually every standard. This book is on the same level as Batman #89 in terms of importance, but it should sell for more in the secondary market because the print run was less than half at about 35,000. I also like the Cover B for this book because I estimate that there are probably around 7,000 out there (retailers ordered cover Bs at about 20% of the total around that time). I also like the third print with the purple background.

Batman #92 – First Full Appearance and First Cover

There is a lot to say about this book. It is very difficult for me to argue that this is not Punchline’s first full appearance. The fact that she appears on the cover just adds to the appeal of this book. The problem is that everybody knew this book was coming out and retailers placed large orders, particularly the amazing Cover B by Artgerm. We don't yet know the number of copies ordered by retailers but based on recent comments by Jim Lee, it appears that it was below 300,000. Print runs that large kill collectability. That said there are actually three versions of Batman #92 that are pretty scarce and hugely collectible.

Batman #92 – 1:25 Jimenez Variant

Just before FOC, DC announced a ratio variant for Batman #92. This pushed orders up for the book even higher. If total orders come in around 250,000 to 300,000 then there should be 10,000 to 12,000 of these out there. That is super rare for a character like Punchline and arguably making this her most important key. Retailers received this book when they were still closed for Covid-19 and as a result, copies poured onto eBay. This likely kept a lid on the price as there were several for collectors to buy at the time. Once these books make their way into collections, I expect to see prices rise materially.

Batman #92 – San Diego ComicCon Foil Variant

This variant snuck up on the market when nobody was paying attention. San Diego ComicCon made this exclusive variant available online. I do not know for sure how many copies of this book exist, but I did my best to get an idea. I reached out to several industry insiders who said that they think there were 3,000 for sale. One person I spoke to said it could be as high as 6,000 but probably 3,000. As of the time of writing this article, there were 15 copies for sale on eBay which supports these numbers. Whether the print run was 3,000 or 6,000, this book is extremely rare at those levels if accurate. It also makes this beautiful Artgerm cover extremely collectible!

Batman #92 – Retailer Appreciation Variant

In mid-August, DC announced a retailer appreciation variant for Batman #92 limited to one copy per store. The cover is a black and white version of the 1:25 Jimenez Variant. It is unclear how many copies of this book will be out there, but it should be less than 2,000. I expect this book to become a ghost very quickly and sell for a hefty premium. This one will be tough to get for people who want to collect all of the Punchline key appearances.

Joker 80th Anniversary - Origin

In this book, we get a very interesting look into Punchline's origin. There are several variants of this book out there but only four with Punchline on the cover. Three of them are Midtown Comics store exclusives by Inhyuk Lee and one is a PUREart variant by Artgerm. Origin comics used to carry a lot of weight in the hobby, I have a feeling they are going to make a comeback...stay tuned for a future piece on that topic.


If you want to own Punchline’s emergence into comics then you need to own all four of her key appearances. I would suggest grabbing two copies of #92, the 1:25 Jimenez Variant, and the Artgerm SDCC Foil Variant. DC has big plans for Punchline, she is getting her own one-shot in November to gauge interest in a future solo series. James Tynion is the perfect writer to have created Punchline (just look at his work on Erica Slaughter in Something is Killing the Children). Punchline isn’t going anywhere and is only likely to get bigger and bigger. Now is the time to be grabbing Punchline key appearances for your collection.