Most Expensive Moon Knight Comics: Values & Key Issues Guide

Moon Knight was born in August 1975 in the pages of Werewolf by Night #32, written by Doug Moench and drawn by Don Perlin. The character first appears as a mercenary antagonist hired to capture werewolf Jack Russell, before switching sides in the following issue. Editors Marv Wolfman and Len Wein immediately recognized the character's potential and commissioned Moench and Perlin to write solo stories for Marvel Spotlight #28–29 (1976). The inaugural solo series — Moon Knight #1 (November 1980), scripted by Doug Moench and drawn by Bill Sienkiewicz — established the foundations of Marc Spector: a mercenary resurrected by the Egyptian moon god Khonshu, operating through multiple identities including Steven Grant (businessman), Jake Lockley (cab driver), and Mr. Knight.

This guide sticks to the verifiable: records documented by Heritage Auctions, sellmycomicbooks.com, GoCollect, and CGC Comics. One important methodological note: our eBay estimator does not cover the Werewolf by Night, Moon Knight, or Marvel Spotlight series — it returns "invalid parameters" for these titles. Every figure in this guide comes exclusively from documented web sources. Where no public record exists, we stay qualitative.

Moon Knight key issue ranking (real documented data)

All records below come from public sources (Heritage Auctions, sellmycomicbooks.com, CGC Comics). Our eBay estimator does not cover these series; all figures are sourced from the web.

Sources: Heritage Auctions, sellmycomicbooks.com, CGC Comics. Our eBay estimator does not cover these series.

Werewolf by Night #32 (1975): the first appearance, the Bronze Age masterkey

Published with an August 1975 cover date, Werewolf by Night #32 is the definitive Moon Knight key. The story — "Stalker by Night!" — is written by Doug Moench and drawn by Don Perlin, with a cover by Gil Kane and Al Milgrom. Moon Knight is introduced as a mercenary hired to capture werewolf Jack Russell; his white costume bearing lunar symbols and his silver weapons (deadly to a lycanthrope) make him a perfectly designed antagonist for the title character. Moon Knight is a Bronze Age character: there are no Silver Age copies, no 1960s keys for this character. Heritage Auctions documents a CGC 9.8 sale at $31,200 in March 2020; sellmycomicbooks.com records a CGC 9.8 sale at $42,000 in 2023. For context, the same source shows a CGC 9.6 at $25,200 in 2022 and $10,100 in 2021. The market peaked around the Disney+ series announcement (2021–2022) before normalizing. CGC has graded 4,930 US copies, with nineteen achieving the maximum grade of 9.8 as of September 20, 2022.

Werewolf by Night #33 (1975): the second appearance

Werewolf by Night #33 (September 1975) is the direct continuation of #32: Moon Knight reverses course and chooses to help Jack Russell rather than hand him over. It is the character's second appearance, and already a key issue for serious Moon Knight collectors. Sellmycomicbooks.com documents an overall record of $6,519, while 2021 data shows a CGC 9.8 copy selling for $13,200. The valuation gap between #32 and #33 is substantial: the first appearance commands a significant premium over the second.

Marvel Spotlight #28 (1976): the first solo story

Following the character's success in Werewolf by Night, editors Marv Wolfman and Len Wein commissioned a run of solo stories. Marvel Spotlight #28 (June 1976) is the first issue dedicated exclusively to Moon Knight, once again written by Doug Moench and drawn by Don Perlin. The issue introduces key characters from Marc Spector's supporting cast including Marlene Fontaine and Samuels. Marvel Spotlight #29 (August 1976) continues the solo run. Sellmycomicbooks.com documents a record of $3,500 for issue #28. These issues represent a more accessible Bronze Age entry point than Werewolf by Night #32, though they trade with less liquidity on the secondary market.

Moon Knight #1 (1980): the inaugural solo series with Bill Sienkiewicz

Moon Knight #1 (November 1980) marks the launch of the first dedicated solo series. Doug Moench returns to script, but it is Bill Sienkiewicz's arrival on art that defines the character's visual identity for generations of collectors: expressive linework, dramatic shadow play, and an atmosphere that anticipates his later experimental style. This issue firmly anchors Marc Spector's four identities — the mercenary, Steven Grant, Jake Lockley, and the avatar of Khonshu — and introduces Bushman, his archetypal nemesis, in that character's first documented appearance. Values are considerably more accessible than the 1975 keys: sellmycomicbooks.com records a historical high of $1,350 for CGC 9.8 and a 2022 sale at $925 in CGC 9.8. It is a coherent collecting choice for anyone wanting the series key without exposure to the price levels of Werewolf by Night #32.

Moon Knight on Disney+: the series effect on key issue values

The Moon Knight series streaming on Disney+ from March 30, 2022 drove a significant surge in demand for the character's Bronze Age keys. Oscar Isaac portrays Marc Spector and his alter egos — Steven Grant, Jake Lockley — across six episodes, facing Ethan Hawke as antagonist Arthur Harrow. The series earned an 86% approval rating on Rotten Tomatoes, with unanimous praise for Isaac's performance. That wave of interest pushed Werewolf by Night #32 to record price levels between 2021 and 2022, before the market gradually normalized. Any future Moon Knight MCU appearances remain a factor that could reignite collector demand for these Bronze Age keys.