The most expensive Walking Dead comic at auction is The Walking Dead #1 (October 2003, Image Comics) in its first printing — the black "Mature Readers" banner cover. A CGC 9.8 copy sold for $24,200 at Heritage Auctions in March 2022; in 2024, another copy of the same grade surpassed $32,000. With a print run of approximately 7,500 copies, this first printing is one of the genuine grails of the modern era.
The Walking Dead is a comic book series created by Robert Kirkman (writer) and Tony Moore (artist), published by Image Comics beginning in October 2003. It is a modern-era work: there are no Walking Dead issues from the Golden Age, Silver Age, or Bronze Age — anyone offering you a "Silver Age Walking Dead key" is mistaken. Tony Moore drew issues #1 through #6; Charlie Adlard took over with #7 and carried the series to its conclusion at issue #193 in 2019. The series follows Rick Grimes, a sheriff's deputy who wakes from a coma in a world overrun by the undead. The AMC television adaptation (2010–2022, 11 seasons) and its numerous spin-offs — Fear the Walking Dead (2015–2023), Dead City (2023), Daryl Dixon (2023), and The Ones Who Live (2024) — turned this universe into a global franchise and sustained collector demand for key issues well beyond the traditional comics audience.
This guide sticks to the verifiable: eBay data from our estimator (eBay.fr + eBay.com, June 2026) and records documented by Heritage Auctions and the specialist press. One critical warning: our tool returns a median of €12 across 101 listings for The Walking Dead #1, but that figure is overwhelmingly dominated by later printings and reprint editions — the series was reprinted many times from the 2010s onward. That median in no way reflects the value of the 2003 first printing, which is a five-figure modern grail. Issues #19 (3 listings), #27 (4 listings), #92 (1 listing), and #100 (5 listings) have too few eBay listings for a reliable median: documented auction records are the only credible price reference for those issues.
Walking Dead key issue ranking (documented records and eBay data, June 2026)
The first printing of #1 stands alone in this series. The other key issues — #19, #27, #92, #100 — are too thinly represented on eBay for a reliable median; documented sale records are the only serious price reference.
| Issue | Significance | eBay data (all grades) | Documented record |
|---|---|---|---|
| Walking Dead #1, 1st print (Oct. 2003) | 1st appearance of Rick Grimes — modern-era grail | Median not cited — 101 listings dominated by later printings | $32,000+ (CGC 9.8, Heritage 2024); $24,200 (CGC 9.8, Heritage Mar. 2022) |
| Walking Dead #19 (2005) | 1st appearance of Michonne | 3 listings — insufficient volume | Record CGC 9.8: approx. $650 (sellmycomicbooks.com) |
| Walking Dead #27 (2006) | 1st appearance of the Governor | 4 listings — insufficient volume | Record CGC 9.8: approx. $650 (sellmycomicbooks.com) |
| Walking Dead #92 (Dec. 2011) | 1st appearance of Paul "Jesus" Monroe | 1 listing — insufficient volume | Record CGC 9.8: approx. $180 (sellmycomicbooks.com) |
| Walking Dead #100 (2012) | 1st appearance of Negan & Lucille — death of Glenn | 5 listings — insufficient volume | Record CGC 9.8: approx. $285 (sellmycomicbooks.com) |
Walking Dead #1 (2003): the modern-era grail
Published in October 2003, The Walking Dead #1 is the first appearance of Rick Grimes as well as Lori, Carl, and Shane. Script by Robert Kirkman, art by Tony Moore. The first printing — identifiable by the black "Mature Readers" banner at the bottom of the cover and the absence of any printing notation on the cover itself — had a print run of approximately 7,500 copies, making it genuinely scarce by modern standards, comparable in print run to titles such as TMNT #1 (1984). The many subsequent printings (from the second printing onward, which explicitly state the edition number) and the wave of reprint editions from the 2010s have flooded the market under the same title, which explains the €12 eBay median across 101 listings: those listings almost exclusively represent the common later versions.
Our eBay estimator therefore cannot value the first printing — auction archives are the only credible reference. The most recently documented record: a CGC 9.8 copy (white pages) surpassed $32,000 at Heritage Auctions in 2024. In March 2022, another CGC 9.8 had already realised $24,200 at the same house. These two sales are the publicly verifiable benchmarks for this grade. Lower-grade copies remain highly sought after; even an ungraded copy in presentable condition can trade for several hundred euros among knowledgeable collectors.
Walking Dead #19 (2005): first appearance of Michonne
Issue #19, published in 2005, introduces Michonne, one of the series' most iconic figures with her katana and two chained walkers. The character, played by Danai Gurira in the AMC series from Season 3 (2012) onward, became a central protagonist of the television universe and returned in The Ones Who Live (2024). Our eBay estimator finds only 3 listings for this issue: too few for a reliable median. Specialist sources document a record sale around $650 in CGC 9.8 — a level that reflects strong demand in high grade but limited day-to-day liquidity.
Walking Dead #27 (2006): first appearance of the Governor
Issue #27 (2006) introduces the Governor, the primary antagonist of several story arcs and a central character of AMC Season 3 (2012–2013), portrayed by David Morrissey. Our eBay estimator finds only 4 listings for this issue: volume is too thin for a reliable median. Specialist data documents a record near $650 in CGC 9.8, on a par with #19.
Walking Dead #100 (2012): first appearance of Negan — death of Glenn
Published in July 2012, issue #100 is arguably the series' most anticipated single issue: it introduces Negan and his barbed-wire baseball bat Lucille, and concludes with the death of Glenn Rhee in one of the most discussed scenes in recent comics history. The issue was released with numerous variant covers — standard Adlard cover, Liefeld, Quitely, SDCC, and chromium variants — which complicates valuation. Our eBay estimator finds only 5 listings, too few for a reliable median. Specialist sources document a record near $285 in CGC 9.8 for the standard cover; certain scarce variants have reached higher levels on occasion.
Own a Walking Dead comic? Get a free valuation with our tool based on real eBay sales to find its low, median, and high value.