Panel Profits
PANEL PROFITS·
UTC LIVE TIME
DEAL RADAR
MARKET CLOCKS
HOME OFFICEHOME OFFICE--:--
NYSENew York--:--
LSELondon--:--
JPX / NIKKEITokyo--:--
DFM / ADXDubai--:--
WORLD / UTC--:--
PPPanel Profits WikiThe comic research libraryOpen Sniper ↗

Detective Comics #40

Edition record · June 1940

Price history & market evidence

PriceCharting guide history

Dated guide estimates for this edition, separate from completed sales.

PPCF-0000000663 · TRADINGVIEW VALUATION ENGINE DATED GUIDE
$85.00
Stored guide observationsPriceCharting · exact edition

1 dated observation—one point does not establish a trend. Last recorded 2026-10-06. Source record #2316844

Price observations belong to this edition. Guide estimates, catalog references and completed sales are separate kinds of evidence.

GradeAmountEvidenceRecorded
4.0$6,300.00PANEL_PROFITS · grade_4_0_valueguide1940-06-01
6.0$36,000.00PANEL_PROFITS · grade_6_0_valueguide1940-06-01
9.2$17,925.00PANEL_PROFITS · grade_9_2_valueguide1940-06-01
9.4$32,200.00PANEL_PROFITS · grade_9_4_valueguide1940-06-01
9.6$94.00PANEL_PROFITS · grade_9_6_valueguide1940-06-01
9.8$85.00PANEL_PROFITS · grade_9_8_valueguide1940-06-01
RAW$2,991.50PANEL_PROFITS · ungraded_valueguide1940-06-01
10.0$111.00PANEL_PROFITS · grade_10_0_valueguide1940-06-01
9.4$66,200.00ComicBase · catalog referencecatalogDate not recorded

Reading this edition’s market

Compare the same cover, printing and grade before setting a bid. A raw guide or a higher-grade price does not establish a slab’s value. Include selling fees, shipping and the depth of completed-sale evidence when assessing an exit price.

The table includes 8 guide observations and 1 catalog references. These are reference values, not guaranteed sale proceeds.

Graded population

CGC records 132 graded copies for Detective Comics #40 (1940). Population is the number recorded by this grading source, not the total print run or all surviving copies.

0.5 · 121.0 · 51.5 · 61.8 · 52.0 · 32.5 · 43.0 · 53.5 · 74.0 · 134.5 · 65.0 · 115.5 · 96.0 · 86.5 · 67.0 · 57.5 · 68.0 · 48.5 · 39.0 · 39.2 · 19.4 · 1

Batman, with Robin the Boy Wonder: "The Murders of Clayface"

Julie Madison) is part of a new film called *Dread Castle*. One of Madison's colleagues and her boyfriend are murdered on the set of the film. When Batman) investigates the murders, he finds the male victim right before he dies and he managed to identify his killer as "Clayface".

Batman and Robin take the investigation to the film's set and there, Batman stops some gangsters, but unfortunately they aren't the ones behind these murders. Meanwhile, Robin finds the real killer and Clayface) attacks him. Batman saves Robin, but Clayface manages to escape.

The next day, one of the scenes with Julie is being filmed and Clayface is about to kill her, when Batman and Robin intervene. Batman takes off Clayface's disguise, revealing his identity as Basil Karlo, the make-up man and embittered ex-actor, who wanted to kill the actors that were remaking his own classic film, "The Terror". | Appearing1 = **Featured Characters:** *Batman) *Robin) **Supporting Characters:** *Julie Madison) **Antagonists:** *Clayface (Basil Karlo)) **Other Characters:** *Fred Walker *Kenneth Todd *Lorna Dane *Mister Bentley *Ned Norton *Roxy Brenner **Locations:** *Gotham City **Wayne Manor **Items:** *Batrope **Vehicles:** *Batmobile

| Writer2_1 = | Penciler2_1 = Maurice Kashuba | Inker2_1 = Maurice Kashuba | Colorist2_1 = | Letterer2_1 = | Editor2_1 = Whitney Ellsworth | StoryTitle2 = Bart Regan, Spy: "The Forgarian Ball" | Synopsis2 = A team of Forgarian spies has obtained some U.S. military secrets, and one spy has double-crossed his teammates, stolen the documents for himself, and stashed them in a safety deposit box in a bank in New York City. The other two spies murder him for that, but are unable to recover the documents. Bart Regan is assigned to retrieve the secret materials, and he does so, hidden inside a series of gimmicked pens, along with arresting three or more of the Forgarian spies. | Appearing2 = **Featured Characters:** *Bart Regan) **Supporting Characters** *Chief **Antagonists:** *Forgarian Spies **Jac Gurdini, Embassy Attache **Susie, fake widow **Locations:** *Washington, D.C. **U.S. Secret Service Headquarters **Forgarian Embassy *New York City **Bank Branch Number 47

| Writer3_1 = | Penciler3_1 = Ken Ernst | Inker3_1 = Ken Ernst | Colorist3_1 = | Letterer3_1 = | Editor3_1 = Whitney Ellsworth | StoryTitle3 = Red Logan: "An American Reporter in London...." | Synopsis3 = | Appearing3 = **Featured Characters:** *Red Logan) **Supporting Characters:** *Inspector Enright *Ivan **Antagonists:** *Mrs. Tulford, spy **Mrs. O'Riley **four operatives: Larry, Flaccini, others **Other Characters:** *Lorry Driver *Coroner *Officer Simpson **Locations:** *London **Scotland Yard **Apothecary Shop **Mrs. Tulford's Boarding House, at 512 Wilshire Avenue *Boronia **Items:** *set of War Office plans

| Writer4_1 = Jack Lehti | Penciler4_1 = Jack Lehti | Inker4_1 = Jack Lehti | Colorist4_1 = | Letterer4_1 = | Editor4_1 = Whitney Ellsworth | StoryTitle4 = The Crimson Avenger: "The Mysterious Rays" | Synopsis4 = While an armored truck is delivering currency deposits to the city bank, a criminal overlooks the deposit with a telescope, from a building across the river. The sniper incapacitates the guards, indeed he paralyzes everybody on the entire block, using a ray attached to the scope. Then two criminals, dressed in full-body protective suits, drive up in another truck, loot the armored truck, and drive off unpursued.

At the office of the Globe-Leader, Mac comes in and informs Lee Travis) about the robbery. Lee orders Mac to start writing about it, and visits the crime scene, figures out that the rays must have been projected from across the river, and resolves to cross the river himself that night, as the Crimson Avenger. He also figures out that the robbers were wearing rubber suits, and why.

That night, Wing drives Crimson across the bridge to investigate. Leaving Wing with the car, the Avenger checks out the neighborhood, spots a suspicious looking shack, and eavesdrops on a conversation inside it. A mad scientist is showing off his new invention, making wild promises to a henchman, and explaining his plan, which is to rob another bank. When another bandit arrives at the shack, the Crimson jumps him and defeats him, then takes him away in his car.

A few days later at the bandits' hideout, the scientist suspects that Butch, their missing colleague, has betrayed them. However, he decides to proceed with the plan without him. They raid the bank, and the scientist uses his ray to paralyze everyone present. They loot the bank's truck, and again drive away unpursued, almost. The Crimson Avenger and Wing have grabbed onto their truck, and before long, they all reach the gang's hideout. There, Wing holds the henchman at ground level while Crimson chases the scientist up the stairs, and corners him. When he tries to use his ray on the Avenger, it has no effect. The vigilante is wearing protective rubber clothing, while the scientist has no defense against the gas gun.

The next day's *Globe-Leader* headline is "MAD SCIENTIST CAPTURED". Lee meets with Mac, who expresses his curiosity about the identity of the Crimson Avenger. | Appearing4 = **Featured Characters:** *Crimson Avenger (Lee Travis)) **Supporting Characters:** *Wing) *Mac, Ace Reporter **Antagonists:** *Mad Scientist **Joe, robber **Butch, robber **Locations:** *New York City **Globe-Leader, newspaper office **banks *Jersey City **waterfront tower w/ adjacent shack **Items:** *Electrical Paralyzing Ray **Vehicles:** *Armored Bank Trucks *Bank Robber Truck *Travis' Limousine

| Writer5_1 = | Penciler5_1 = Fred Guardineer | Inker5_1 = Fred Guardineer | Colorist5_1 = | Letterer5_1 = Fred Guardineer | Editor5_1 = Whitney Ellsworth | StoryTitle5 = Speed Saunders: "The Jewel Robbers" | Synopsis5 = Speed happens on a jewel robbery in progress, and tails them by clambering onto the rear bumper of their car, but falls off when they go at high speed around a twisting mountain road to lose the law. He slides down a cliff but manages to break his fall on an outcropping. Having a personal drive to catch the crooks now, he relays the name of the leader he overheard to police contacts, then heads to their hideout on his own once the man's been spotted. Speed intercedes in a firefight when the crooks argue about how to split the money, managing to singlehandedly capture them. | Appearing5 = **Featured Characters:** *Speed Saunders) **Antagonists:** *Chick Doneen, robber *Al, robber *3rd robber **Locations:** *New York City **jewelry store **NYPD Precinct *New Jersey **Young Baldy, mountain **more mountains ***lodge **Vehicles:** *Doneen's Big Yellow Sedan *Speed's NYPD Motorcycle

| Writer6_1 = | Penciler6_1 = Don Lynch | Inker6_1 = Don Lynch | Colorist6_1 = | Letterer6_1 = | Editor6_1 = Whitney Ellsworth | StoryTitle6 = Steve Malone, District Attorney: "The Prodigy" | Synopsis6 = | Appearing6 = **Featured Characters:** *Steve Malone) **Supporting Characters** *Smithers, assistant See Notes. **Other Characters** *Usha Leika, violin boy prodigy *Clara Leika, his sister *Motorcycle Cop *Karla King, famous harpist **Antagonists:** *Fuhlra, Master of Music **turbanned henchman **Sari, Snake Charmer ***her many cobras **Locations:** *Opera House *Country Road *D.A.'s Office *formerly deserted mansion **Items:** *Stradivarius Violin

| Writer7_1 = Chad Grothkopf | Penciler7_1 = Chad Grothkopf | Inker7_1 = Chad Grothkopf | Colorist7_1 = | Letterer7_1 = Chad Grothkopf | Editor7_1 = Whitney Ellsworth | StoryTitle7 = Cliff Crosby: "The New Plane" | Synopsis7 = Cliff's new job is to supervise the construction of Bridgeman Aero Corporation's new model airplane, which is competing for a government contract. | Appearing7 = **Featured Characters:** *Cliff Crosby) **Antagonists** *Federal Aviation Company, Bridgeman's competitor **Les Sharron, pilot **Spider, fixer **Other Characters** *Mr. Bridgeman, Bridgeman Aero Corporation **Mac, mechanic **radioman **assembly workers **Jerry, pilot **Locations:** *Bridgeman Aero Corporation factory & aerodrome *Federal Aviation Company factory & aerodrome **Vehicles:** *Bridgeman C-32 sabotaged, abandoned, recovered **military-looking prototype aircraft *Federal S-32 prototype aircraft **just not as fast as the C-32

| Writer8_1 = Jerry Siegel | Penciler8_1 = Howard Sherman | Inker8_1 = Howard Sherman | Colorist8_1 = | Letterer8_1 = Howard Sherman | Editor8_1 = Whitney Ellsworth | StoryTitle8 = Slam Bradley versus the South Side Mob, in "The Murder of Slugger Carmen" | Synopsis8 = | Appearing8 = **Featured Characters:** *Slam Bradley) **Supporting Characters:** *Shorty Morgan) **Antagonists:** *Luigi Barratti *Carlo Pimento *other gangsters **Other Characters:** *Slugger Carmen **Locations:** *New York City

| Notes = *Published monthly by Detective Comics, Inc. ***Batman:** "The Murders of Clayface" is reprinted in: **Batman: From the 30's to the 70's (Collected) **Batman Chronicles Vol 2 (Collected) **Batman Archives Vol 1 (Collected) **Batman Arkham: Clayface (Collected) *An updated version of "The Murders of Clayface" is told in Secret Origins Vol 2 44, featuring most of the same characters and plot, but helping to establish Basil Karlo's place in New Earth continuity. *Batman) and Robin) both appeared last in Batman Vol 1 1, and both appear next in New York World's Fair Comics Vol 1 2. *Clayface (Basil Karlo)) appears next in Detective Comics Vol 1 49. *Julie Madison appeared last in Detective Comics Vol 1 39. She appears next in Detective Comics Vol 1 49. *Last issue for Ken Ernst art on **Red Logan**, replaced next month by Ed Winiarski. **This story makes mention (page 1 panel 6) of Logan's earlier adventure in Boronia, which took place in More Fun Comics Vol 1 37. This kind of thing happened very rarely in comics of that era. **Winiarski also wrote that earlier story, which implies that he may have written this one as well. *Also appearing in this issue of *Detective Comics* were: **"Here It Is!" (full page ad for the current issue of Batman Vol 1 1, with the same art and copy as last month) **"Theft at the Fair, Part 1" by Gardner Fox **"Superman!" (full page ad for the current issue of Superman Vol 1 5) **"Superman Is on the Radio!" (1/2 page ad for The Adventures of Superman|Superman's radio show) **Detective Stamp Page: "New Air Mails" (text article) **"The "Big Six" Comic Magazines Still Lead the Field!" (full page ad, same art as last month's ad, for the current issues of Action, Adventure, All-American, Detective, Flash, and More Fun Comics, with the same art and copy as last month)

| Trivia = ***Bart Regan, Spy** gets head-whapped with a blackjack, but is only stunned for a moment, not knocked out. ***Cliff Crosby** survives one bungled parachute jump, then fights and kills a shark, with a knife. **Cliff knocks himself unconscious, with a 400 mph power dive, in which he blacks out from the G-pressure. **Cliff makes a mid-air plane-to-plane jump, dumps the other pilot, then grabs control of the plane and lands it. *In **Crimson Avenger**, the NYPD has once again captured a mad scientist and presumably captured his paralyzing ray weapon. *In **Red Logan**, Red gets head-conked unconscious with a pistol butt. ***Speed Saunders**: **Speed gets shot in the scalp and is "felled". He recovers almost instantly. Later he bullet-wounds two of the perps. **Last issue's story closed with a blurb asking readers for feedback on a new character, Danny, Speed's kid assistant. Danny does not appear in this issue. ***Steve Malone**'s job title is "District Attorney of the County". **Steve's subordinate, "Smithers", might or might not be the same person as his assistant, "Happy". Neither of them is visible in this story, but Smithers is given some spoken orders by Malone. **Malone shoots the fleeing female villain, from behind, grazing her scalp for a knockout.

| Links =

Creative credits

Writers: Bill Finger, Jack Lehti, Chad Grothkopf, Jerry Siegel

Interior art: Bob Kane, Maurice Kashuba, Ken Ernst, Jack Lehti, Fred Guardineer, Don Lynch, Chad Grothkopf, Howard Sherman

Source records & attribution

Panel Profits keeps each source identity attached to its edition record.

COMICBASE: comicbase:342918

GCD: 852

PANEL PROFITS: 2316844

Original story text reference and licenseOriginal text reference ↗

CC BY-SA 3.0