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- 12-page black and white Ashcan, a way to establish copyright by printing small-quantities and distributing to show proof of intellectual property ownership
- 1st appearance of Captain Thunder (Billy Batson), renamed Captain Marvel to avoid more copyright issues from Fiction House's character Captain Terry Thunder
- Fawcett couldn't use the title Flash Comics due to All-American Comics (DC) already having secured the rights
- 8 copies were printed in 1940 but prior to 1986, collectors were unaware of its existence
- High value is from a 2008 sale of a 9.4 graded copy
Low $4k
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Mid $12k
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High $20.3k
- 12-page black and white Ashcan, a way to establish copyright by printing small-quantities and distributing to show proof of intellectual property ownership
- 1st appearance of Captain Thunder (Billy Batson), renamed Captain Marvel to avoid more copyright issues from Fiction House's character Captain Terry Thunder
- Fawcett was forced to select the name Whiz Comics after Better Publications acquired the title Thrilling Comics
- 3 copies were printed in 1940 but prior to 1986, collectors were unaware of its existence
- High value is from a 2008 sale of a 9.0 graded copy
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High $150k
- 1st appearance and origin of Captain Marvel, later renamed Shazam
- 1st appearance of the Wizard Shazam
- 1st appearance of Dr. Sivana, a scientific genius and the archenemy of Captain Marvel
- 1st appearance of Ibis the Invincible and Spy Smasher
- 1st team appearance of the Seven Deadly Enemies of Man, later renamed the Seven Deadly Sins
- While not a precise swipe of Action Comics #1 artwork, this cover and other aspects of Captain Marvel led to DC (formerly National) filing a lawsuit against Fawcett for Captain Marvel too closely resembling Superman
- *premiere issue of the series though the copyright notes read issue #2
- *there exists a very scarce Ashcan edition of this issue
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- 1st appearance of Captain Marvel and the Marvel Family in DC Comics
- 1st cover appearance of Captain Marvel and Superman (Superman does not appear in the story with Captain Marvel)
- *20 years after DC was awarded $400,000 ($4 million by today's standards) for Superman copyright infringement, the publisher purchased the rights to Shazam from Fawcett