I first heard of the Shadow back in 1981. When a crazy-fun art teacher in middle school decided to entertain us. He played cassettes of old radio programs; one of them was "The Shadow." It was very campy, with way too many caricatures of people to exist in this politically correct age. I still loved the pulpiness of it. The villains were mustache twirlers, the heroes knew all. The Shadow pretty much always prevailed against the unending horde of sociopathic neanderthals everywhere. He didn't pull his punches and used two lethal .45 Caliber pistols to fight crime. Apparently, this character first appeared in The Shadow Magazine back in 1931. This technically makes this a hero from the Platinum Age. I have no reference point for the 1931 issue as speculation. Let's instead look at the first Shadow in DC Comics. Can this timeless hero still hypnotize our attention away from the shiny Avengers and jubilant Justice Leaguers of the world?
"Who knows what evil lurks in the hearts of men?" Well, "The Shadow knows!" This now familiar refrain is a legendary line making The Shadow timeless. This issue, The Shadow #1 (1973) was created in DC Comics by Denny O'Neil and Michael W. Kaluta. This cover is epic, in my humble fanboy opinion. Currently, the CGC Census only shows 828 copies having been slabbed in their inventory. Many of these are high grade due to collectors appearing on the comic book landscape in the 1970's. I used to pull them out of the dollar bins every once in a while back when we had tons in the cheapie bins for a time. Though obviously popular they are still under $300 for a (9.8) copy of this Bronze Age beauty. If the price is a big issue for you a (5.0) went for under $30 last year. Either high or low, you are not going to break the bank with this purchase. However, it couldn't hurt to squirrel away a couple of copies.
The Shadow #1 for the last 18 years has had relatively good returns, in the (7.5) through (9.0) grade. The very fine minus has been exceptionally good to long-term investors, with (7.5) returning a respectable positive +59.9% during this time frame. The Shadow may be able to hide his face and transform or obscure his features. But he cannot conceal the dismal lower grade returns or the upper-grade lack of enthusiasm. To put it simply, "This dog just won't hunt." Try as we might turn this book into something of value it still has a long way to go. It may be a good early book to buy pre-catalyst before a movie hits. The returns on a (9.6) have been dismal but the cheapest yet for entry level. Spend under a C-note for (9.6) graded book, not a bad idea for a long shot.
Garth Ennis: The Shadow #1 (2012)
If you are looking for a newer writer like say, Garth Ennis try out The Shadow #1 (2012). There probably is no value in owning this particular Shadow except for reverence for Garth Ennis and his work, which is pretty prolific. You can pick up a near mint to mint (9.8) for $25 or so. If you like The Shadow; than give Garth's version a try. Any fan of this character knows he has appeared in radio shows, the funny pages, cartoons, and in multiple comics over the years. The magic of The Shadow is not lost in the 21st Century. For a speculation, try to pick up the Bronze Age The Shadow #1 (1973) created by Michael Kaluta's (art) and Denny O'Neil's storytelling. Remember when it comes to collectibles: "The Shadow knows," if this is a good investment, speculation, or just pure greed in the hearts of men.
