David Gonzalez purchased a fixer-upper home for only $10,100 in Eblow Lake, Minnesota in 2014. Gonzales began to make the necessary upgrades to the dated home. Upon demolishing a wall in the house, he was shocked to find a first edition of Action Comics. This incredibly rare comic book was used, along with newspaper, as insulation in the walls of the old home.
Gonzalez removed the well intact comic book from the demolished wall. Then, an interaction between Gonzalez and his wife’s aunt resulted in a tear down the back cover. The comic book went from a grading of 3.0, down to a 1.0 grading within seconds.
Although the original rating of the comic book was only a 3.0 grading on a 10-point scale, the 2-point downgrade was significant. Stephen Fishler, co-owner of comics auction house, ComicConnet, explained, “That was a $75,000 tear.” Even though that tear reduced the value of the comic book by $75,000, Gonzalez was still about to sell the No. 1 Action Comics for $175,000.
This comic book is so valuable because of its rarity. This is the very first issue of Action Comics, printed in 1938. This issue contains the debut of the one and only, comic book titan, Superman. Even though this copy was not in mint condition, its rarity and content were able to make Gonzalez a pretty penny.
Update: USA Today reported that the comic book sold for $175,000 at an auction on June 9th.