Rare Superman comic found in old house insulation, torn during family dispute

Comic up for bid in auction

MINNEAPOLIS - It's considered the Holy Grail of comic books: Action Comics No. 1 from 1938, featuring the debut of Superman. David Gonzales found one mixed in with old newspapers insulating the ceiling of a house he was renovating in a small town in Minnesota.  The home was built in 1938.

Gonzales did some research that confirmed the comic was valuable, though not as much as it could have been. He got into a heated discussion with a relative about its value, and the back cover was torn.  The tear is visible n the photo taken by the auction house.

Because of the damage, New York-based online auctioneer ComicConnect.com graded the book a 1.5 on a 10-point scale. By comparison, an Action Comics No. 1 that was graded a 9 recently fetched $2.16 million.

ComicConnect calls Action Comics No. 1 "The most important comic book in the history of comic books."

Bidding on Gonzales' find was up to $137,000 as of Friday afternoon. The bidding closes June 11.