Flash Comics #1 (1940) Value & Price Guide

In January 1940, a new hero hit newsstands who could outrun bullets, vibrate through walls, and make the wind look slow. His name was Jay Garrick, and he got his powers the way a lot of Golden Age heroes did: a lab accident. A college student inhaling hard water vapors in a chemistry experiment shouldn't result in superspeed. But this was 1940, and the science didn't need to hold up. The story did. Flash Comics #1 introduced the Flash to the world, and 86 years later, the character is still running.

Flash Comics #1 didn't just launch one hero. It launched several. Hawkman made his first appearance in the same issue, along with Johnny Thunder, the Whip, and Shiera Sanders. That density of first appearances makes this one of the most important Golden Age comics in existence.

Quick Value Summary

• Item: Flash Comics #1

• Year: January 1940

• Publisher: DC Comics (originally All-American Publications)

• Category: Comic Books

• Condition Range:

  • CGC 0.5 (Poor): $4,000 - $7,000
  • CGC 1.0 (Fair): $6,000 - $12,000
  • CGC 2.0 (Good): $15,000 - $30,000
  • CGC 4.0 (Very Good): $40,000 - $70,000
  • CGC 6.0 (Fine): $100,000 - $175,000
  • CGC 8.0 (Very Fine): $300,000 - $450,000

• Record Sale: A CGC 9.2 copy has sold for over $450,000

• Rarity: Very Rare. About 56 universal CGC copies, 41 restored, ~99 total

The Story

All-American Publications needed a speedster. Editor Sheldon Mayer and writer Gardner Fox created Jay Garrick, a college football player who gained superspeed after inhaling heavy water fumes during a late-night lab session. Harry Lampert drew the interior story, while Sheldon Moldoff provided the cover showing the Flash in his winged helmet racing toward the reader.

The winged helmet was borrowed from the Roman god Mercury. The red shirt with a lightning bolt was simple and striking. Jay Garrick didn't wear a mask, which was unusual for the era. He just moved so fast that his face was a blur to anyone watching. It was an elegant solution to the secret identity problem.

Flash Comics ran for 104 issues through 1949. When DC revived the Flash concept in 1956 with a new character named Barry Allen in Showcase #4, it kicked off the Silver Age of Comics. Jay Garrick eventually returned as a character from a parallel Earth, establishing the DC multiverse concept that still drives their storytelling today.

How to Identify It

• Cover: Jay Garrick in his red shirt and winged helmet, running at superspeed. Sheldon Moldoff art

• Interior Pages: Origin story of the Flash by Gardner Fox with Harry Lampert art. Also includes first Hawkman story

• Page Count: 68 pages including covers

• Price on Cover: 10 cents

• Publisher Indicia: All-American Publications

Common Confusions:

• Do not confuse with the Famous First Edition reprint from 1975, worth $10 to $30

• Flash Comics #1 is distinct from The Flash #1 (1959), the Silver Age first issue featuring Barry Allen

• An ashcan edition exists (All Star Comics #1 ashcan with Flash Comics content)

Value by Condition

CGC 0.5 to 1.0 (Poor to Fair) - $4,000 to $12,000 Heavily worn. Pages may be detached, cover might be split, significant staining or pieces missing. Even here, historical importance drives four-figure values.

CGC 2.0 (Good) - $15,000 to $30,000 Complete but well-read. Cover attached, all pages present, but wear evident throughout. Five copies at this grade in CGC census.

CGC 4.0 to 5.0 (Very Good to Fine-) - $40,000 to $90,000 Structurally solid with moderate wear. Colors remain visible. Only a handful of copies at each grade point.

CGC 6.0 to 7.0 (Fine to Fine/Very Fine) - $100,000 to $200,000 Genuinely attractive. Colors bright, structure firm, wear limited to minor spine stress and light corner blunting. Census shows 2 copies at 6.0 and 2 at 7.0.

CGC 8.0+ (Very Fine and Above) - $300,000 to $450,000+ Museum-quality copies. Census shows 3 copies at 8.5, 1 each at 9.0 and 9.2. The 9.2 is the highest-graded universal copy known.

CGC Population Data

The CGC census tells a story of genuine scarcity:

• Total Universal copies graded: 56

• Total Restored copies graded: 41

• Qualified copies: 2

• Grand total: approximately 99

Restored copies sell at 30% to 60% less than universal copies.

Authentication and Fakes

• Professional Grading Required: At these values, any ungraded copy should be submitted to CGC immediately

• Restoration Detection: Color touch-up, spine reinforcement, and piece replacement are common. CGC identifies and labels restored copies. Always check for Universal (blue) vs Restored (purple) label

• Reprints and Facsimiles: The 1975 Famous First Edition is the most common reprint

Where to Sell

• Heritage Auctions: The premier venue for Golden Age comics

• ComicConnect: Strong alternative for high-value comics

• Private Sale: For CGC 8.0+, some sellers prefer private placement through established dealers

Estimated Selling Costs:

• CGC grading: $65 to $150+ depending on declared value

• Auction seller's premium: 10% to 15%

• Insurance and shipping: $100 to $500

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Explore More

Flash Comics #1 launched one of DC's most enduring characters and the entire concept of the speedster superhero. From Jay Garrick's winged helmet to Barry Allen's sleek cowl, every version of the Flash traces back to this January 1940 issue. Browse all Comic Books items ->

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