The Punisher's auction record is held by Amazing Spider-Man #129 (February 1974), his first appearance by Gerry Conway and Ross Andru: a CGC 9.8 copy sold for $57,000 on March 16, 2022 at ComicConnect (the highest grade on census — no 9.9 or 10.0 exists). On the current market, that same issue shows a €1,368.48 eBay median (82 listings, June 2026). Here are the documented records, set against real values.
The Punisher debuted in 1974, making him a Bronze Age character, so there is no "Silver Age" Punisher grail. All the value concentrates on a handful of first appearances and early solo issues.
This guide cites only the verifiable: real-time eBay medians (via our estimator, limited to Amazing Spider-Man) and documented public sale records. When a precise figure can't be verified, we state it qualitatively rather than inventing it.
The absolute record: Amazing Spider-Man #129
Amazing Spider-Man #129 (February 1974) is, by a wide margin, the most expensive Punisher comic. It combines the first appearance of the Punisher (Frank Castle) with that of the Jackal, written by Gerry Conway and drawn by Ross Andru. The documented public record is a CGC 9.8 hammered at $57,000 on March 16, 2022 at ComicConnect — at the very top of the post-lockdown market. The detail that explains this figure: 9.8 is the highest grade in existence, with no 9.9 or 10.0 copy on the CGC census, and only ~143 copies graded 9.8 out of 11,635 universal copies as of the May 2021 census (source: SellMyComicBooks).
In 2026, the market has cooled markedly from the 2022 peak. The "all grades combined" eBay median sits at €1,368.48 (82 active listings, June 2026), with listings ranging from €5.98 (lots and low grades) up to €3,916.96 for high-grade slabs. The gap between that median and the $57,000 record is the clearest illustration of how much grade is everything on this issue.
Documented records for the other Punisher keys
No other Punisher comic comes close to the #129 record. Here are the best documented public transactions, set against the eBay median where it's available.
| Issue | Significance | eBay median | Documented record |
|---|---|---|---|
| Amazing Spider-Man #129 (1974) | 1st Punisher + Jackal appearance | €1,368.48 · 82 listings | $57,000 (CGC 9.8) |
| Amazing Spider-Man #135 (1974) | 2nd Punisher appearance | €160.67 · 100 listings | — |
| Marvel Preview #2 (1975) | Punisher origin | not indexed | $1,730 |
| The Punisher (mini-series) #1 (1986) | First solo issue | not indexed | $950 |
| The Punisher vol.2 #1 (1987) | First ongoing series | not indexed | $1,800 (CGC 9.9) |
Record sources: SellMyComicBooks, ComicConnect, GoCollect. "Not indexed" = series outside our eBay estimator's scope (limited to Amazing Spider-Man); values from web records.
Marvel Preview #2 and the early solos
Beyond the Spider-Man appearances, two issues matter to purists:
- Marvel Preview #2 (1975) — the Punisher's origin, in a black-and-white magazine. Documented record of $1,730 in high grade (source: SellMyComicBooks). The title stays relatively common in nice shape, which caps its current value.
- The Punisher mini-series #1 (1986, Steven Grant & Mike Zeck, inks Klaus Janson) — the very first solo. Documented record around $950; the ongoing series that followed (vol.2 #1, 1987) tops out at $1,800 in CGC 9.9 (source: SellMyComicBooks). Note: several Punisher volumes coexist (1986, 1987, 1995, MAX 2004, etc.), so an "all editions combined" median would blend them — which is why grade- and edition-specific records matter.
Collector strategy (grounded in real data)
- #129 = the centerpiece. This is THE issue to secure: best record, best liquidity (82 active listings at any time for a 1974 comic), structural demand. But grade makes the difference: between a raw copy and a CGC 9.8, you go from a few dozen euros to tens of thousands of dollars.
- #135 = the entry point. At a €160.67 median, the second appearance is the most affordable way into a true Punisher key.
- Check live value. The $57,000 record dates from the 2022 peak; the 2026 market is quieter. Always verify the exact condition and current value before buying — the medians above are from June 2026 and prices move.
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