When comic books started to grow in popularity during the late 1930s and into the 1940s, many of the children who read them dreamed about what it would be like to be a hero. In backyards and on side streets, they pretended to be Superman and Captain America, fighting villains and saving the day. That very idea became the groundwork for a beloved Golden Age character who still entertains readers of all ages today.

The story began when Billy Batson, a homeless 12-year-old boy, was chosen by the wizard, Shazam, to become a hero and protect people from Earth. By saying the magic word “Shazam,” Billy transformed into the tall, muscular superhero Captain Marvel, with the powers of Solomon, Hercules, Atlas, Zeus, Achilles, and Mercury. Once he uttered the magic word in that form, Captain Marvel transformed back into young Billy Batson.

He would face villains like the mad scientist Doctor Sivana and the similarly powered Black Adam, as well as characters like Captain Nazi. He was soon joined on his adventures by Mary Marvel and Captain Marvel Jr., eventually forming the Marvel Family.

When Captain Marvel (now Shazam) was introduced in Whiz Comics #2 (February 1940), the book carried a cover price of 10¢. In 1970 when Robert M. Overstreet published the first Overstreet Comic Book Price Guide, he listed a Near Mint copy at $235. For 1990’s the Guide #20, Billy Batson’s debut saw a huge increase to $18,200.

Ten years later, Whiz Comics #2 more than tripled in value to $64,000 in the Guide #30. By 2010’s the Guide #40, the book was closing in on the six-figure level when it was priced at $64,000. After another decade, it rose to more than five times that amount, landing at $330,000. In 2026’s the Guide #55, a Near Mint copy of Captain Marvel/Shazam’s first appearance in Whiz Comics #2 was valued at $500,000.