These Keys May Be Down, But Don’t Panic Just Yet

by Matt Tuck

Dark-Avengers-page-28-300x178 These Keys May Be Down, But Don't Panic Just YetAlas, poor Norman, I was never able to see you terrorize the Avengers. If you bought his key issues, you may be ready to sell, but we haven’t seen the last of Norman Osborn on movie screens, even if it isn’t in the MCU. That means those keys will rise again.

Sometimes, things don’t work out the way I plan. Only a couple months ago, I advised buying up the Norman Osborn and Dark Avengers keys. I had him pegged to be the new Thanos and reign death and fire over the entire MCU, eventually ushering in the Siege of Asgard. Then all my theories were shattered.

Some fans may have predicted the Sony/Disney breakup, but I didn’t expect it. While I’m not mourning the loss of Spider-Man from the MCU, I will miss Norman. On the plus side, the keys are gradually coming back down if you missed out.

It’s not that the values are plummeting, so don’t panic if you invested in those Norman Osborn key issues. Still, some big keys have begun to slip below their 90-day averages, and that does raise concerns that values will continue to descend.

ASM-37-198x300 These Keys May Be Down, But Don't Panic Just YetAMAZING SPIDER-MAN #37

The main issue to feel the effects of the Sony news is Amazing Spider-Man #37. Although he technically debuted in Amazing Spider-Man #14 as the Green Goblin, readers didn’t get their first look at Norman Osborn until ASM #37, which makes this Norman’s first appearance. 

Of all the graded ASM #37s that sold on eBay this month, four out of six brought less than their 90-day fair market values. While some were only a negligible distance from those FMVs, the 8.5 has experienced a startling decline. After selling for $800 twice in June, it has not reached $500 in September, which is well below its three-month average of $651. Likewise, the 6.0, which sold for $200 on August 29 and brought a record-high $225 in July, slipped to $153 on September 1.


ASM-39-199x300 These Keys May Be Down, But Don't Panic Just YetAMAZING SPIDER-MAN #39

Since this issue marks the beginning of the John Romita, Sr. Spider-Man era, ASM #39 won’t be hit too hard by the Sony split. Still, it had felt the heat from a possible Norman Osborn MCU debut, and it’s cooling off. 

Take the 7.5. On August 20, one sale brought a record of $575, but the most recent sale of $408 through Heritage Auctions represents a major drop off. It was a similar scenario for the 5.0. After approaching a record with a $245 sale on August 22, the next sale saw it drop to $156 on September 8. There’s also the 4.5, which had sold for $225 and $185 before experiencing a fall to $148 on September 15.



Dark-Avengers-1-standard-193x300 These Keys May Be Down, But Don't Panic Just YetDARK AVENGERS #1

Whether or not Dark Avengers is still being considered at Marvel Studios is anyone’s guess. My inclination is that it’s on hold since Norman left the MCU with all the other Spider-Man properties. However, there’s always the chance that talks between the two companies will be reopened, so be patient and cross your fingers.

So far, Dark Avengers #1 is still commanding high prices. Graded at a 9.8, it has not slowed down as of yet. This month, it hasn’t sold below $215, but if Dark Avengers gets the official ax (not that we had anything from Marvel that it was on the slate, to begin with), then this issue will take a major hit.


It’s hard to go wrong with collecting Norman Osborn/Green Goblin keys. I will argue that of all Spider-Man’s rogue’s gallery, he is the quintessential Spidey villain. Hopefully, Disney and Sony will patch things up in time for Dark Avengers to make it into the MCU. Even if they don’t, it’s a great possibility that Sony will use his character in their Spider-verse one way or another. Although an MCU Norman would have a bigger impact on those key issues than Sony, the next time we see him surface on movie screens will give them a boost. In the end, be patient and don’t sell your stock quite yet.


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skip melton September 27, 2019 - 3:32 pm

Now that Sony and Disney have made peace,a follow up to this article might be in order.

Matt Tuck September 28, 2019 - 6:40 am

You read my mind.


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