CGC's Purple Label: The Dealer of Death or Simply Misunderstood?
Certain colors evoke predictable behavior in animals. Red enrages bulls. Blue calms dogs. And, purple terrifies a special sub-species of human beings: Homo Sapien Comic Book Collecticus.
For those unfamiliar, CGC designates restored comic books with the purple label so collectors can easily distinguish them from unrestored comics, which are designated with the blue or “universal” label. The restored label is so stigmatized that it is commonly referred to as the Purple Label of Death or PLOD.
Should restored comics be avoided at all costs? Or, are there situations when purple label books could be reasonable purchases? If so, when?
Before addressing these questions, I share five facts every collector should know about purple label books.
1. What does restoration mean exactly?
Nelson (2022) explains, “Restoration returns a comic book to its ideal state by replacing missing parts of a comic book using foreign material.” (p. 25). Common restoration techniques include color touch, tear seals, piece fill, and glue.
Some enhancements do NOT automatically receive the purple label of death. In 2014 CGC introduced the conserved label. Conservation also includes the addition of foreign material but “...only to stabilize the current state of a comic book and protect it from future degradation. The difference between restoration and conservation is their purpose; restoration’s primary goal is both structural and aesthetic improvement, while conservation is primarily structural.” (p. 25). Replacing rusty staples with quality vintage staples would be considered conservation as the primary purpose is structural. Further, some enhancements are allowable under the universal, blue label. For example, pressing and dry cleaning only reverse alteration defects; no foreign material is added.
2. What about the CGC purple label causes fear?
A restored comic book sells at a considerable discount from an unrestored book of the same grade. Imagine when a collector submits a book to CGC – believing it to be unrestored – and then receives their slab back…with the purple label. The anticipated value of the collectible dashed and the collector/investor psychologically bruised. Thus, the hyperbolic term was born: The Purple Label of Death (PLOD).
3. Has restoration always been frowned upon?
No. In the early days of comic book collecting – starting in the 1960s – restoration was conducted frequently on old and valuable comic books (Nelson, 2022). And, supposedly, there was little differentiation in price between a restored comic and an unrestored comic of similar grade. Thus, there was financial incentive for restoration.
As the next millennium approached, the sentiment began changing, and restored books were selling at a discount. And, by the 2000s with the advent of CGC – and CGC’s decision to categorically differentiate restored books with the purple label – the value between blue and purple label further separated.
4. Is the proportion of purple label books roughly equal across the ages?
No. When restoration was in its heyday – the ‘70s and ‘80s – the most valuable books were from the golden age (1938 - 1955) and, to a lesser extent, the silver age (1956 - 1969). Correspondingly, a much higher percentage of these books have been restored. Below is a graph representing the percent of purple labels across the different comic book ages. Note, each era is represented by the top 10 comic books according to the Overstreet Price Guide.
Percent of CGC Purple-Label Comics by Age
In broad strokes, only a very small percentage of books from the copper and bronze ages are restored. Approximately 1 in 5 are restored for the silver-age keys. And, for the golden age grails, almost every other book has been restored.
5. Is all restoration the same?
No. Metaphorically, there are many shades of purple. CGC differentiates types of restoration in two ways: quantity and quality (CGC, 2024). CGC evaluates quantity on a five point scale where 1 = Slight, 2 = Slight/Moderate, 3 = Moderate, 4 = Moderate/Extensive, and 5 = Extensive. An example of slight restoration would be color touch covering less than ½ inch by ½ inch. Extensive would cover greater than 4 inches by 4 inches!
CGC judges the quality of restoration by the materials and techniques used. Classifications include: A = Excellent, B = Fine, C = Poor. For example, regarding color touch, watercolors or acrylics are considered Excellent. Pencil, crayon, or chalk is considered Fine. Pen, marker, or White Out is considered Poor.
The letters and numbers are combined on the purple label. For example, if someone used a marker to touch up a small tick on a black spine that book would receive a C-1 if no other restoration were present. A “C” for poor quality of restoration and a “1” for there being a slight amount of restoration.
There is one particular type of restoration that bears special attention: Trimming. Trimming involves slicing off materials from the edges of comic books to make a comic look more appealing. CGC clearly notes if a book has been trimmed. This is the most frowned upon type of restoration.
With that context set, let us revisit the original, bigger questions. And, I must acknowledge that we are moving from facts to this author’s opinions.
Are restored books so deadly that they should be avoided at all costs?
NO. The purple label is only deadly when it comes as a surprise. For the buyer who purchased a raw book thinking it was universal – and then it returns restored – I feel for you. I have been that collector. However, if you are considering buying a book that has already been slabbed with the purple label, you should feel fully informed. CGC provides great insight regarding the quality and quantity of restoration along with the grade. In fact, notes under the comic’s title will tell you exactly what restoration has been conducted.
Are there situations when purple label books could be reasonable purchases; if so, when?
For me, the answer to the first part of the question is easy. YES, I believe purple label books can be reasonable purchases.
It’s the second part of the question that gives me and many other collectors heartburn. When are the right buying situations? I have read many philsophies on what the blue-to-purple discount should be. For example, some people will say, generally a 30% discount or a 50% discount. I think that’s a bad idea to adopt a monolithic discount. As mentioned previously, the purple label represents various shades of restoration. Correspondingly, you should treat the value of a restored comic with nuance. Here are general rules I follow. Perhaps they will be useful to you as well.
Consider what grade the restored book may have received prior to restoration and do NOT pay more than that amount. For example, if an A-5 comic is graded as an 8.0, and its original condition was a 1.0, don’t pay more than 1.0 blue-label money for the book. Determining what the grade might have been before restoration is exceptionally difficult. For books with moderate (3) to extensive (5) restoration I assume the unrestored grade was between a .5 and a 2.0. From today’s lens, many books were unnecessarily altered in the last century for financial gain. As collectors, with that history in mind, let us not incentivize restoration again.
Purple label books become attractive for those silver- and golden age grails that are on the cusp of being financially out-of-reach for a collector. Let’s imagine you can barely afford a 0.5 to 2.0 blue label book of a major, rare grail. Sometimes books in those grades look like train wrecks. Purple label books can be a nice alternative. The attractive looking purple-labeled Cap 1 at the beginning of this article is my copy, and I love it!
A-1 restoration is a special case. These are books that have only slight restoration, done by a professional. The book before restoration was likely only a couple grade increments lower than the purple-labeled grade. Consequently, I’m willing to pay above 2.0 blue label money for a 7.5 A-1 purple book. Plus, some A-1 books are candidates for restoration removal. I have yet to do this, but some savvy investors have popped A-1s out of their cases, had the restoration removed, and re-submitted to obtain not only a blue label but also a higher valuation.
Use GPAnalysis to check out past sales of restored books. Remember, look into the details. Don’t base your estimate of a B-4, 6.0 on a previous sale of an A-2, 6.0.
Certainly restored comic books are not for everyone, but they are not deadly when the restoration is fully disclosed as is the case with CGC’s purple label books. For collectors who are pursuing expensive, hard-to-find silver- and golden age books, restored copies can be an excellent alternative. Homo Comic Book Collecticus can be de-habituated to the fear of purple.
Reference
Nelson, M. (2022). The Official CGC Guide to Grading Comics. Ivy Press. [Keston’s note: This resource provides an excellent, in-depth technical exploration of restoration and how it affects grade.]
CGC. (2024, March 22). Restoration Grading Scale. https://www.cgccomics.com/grading/grading-scale/?scale=restoration
Acknowledgements
Images of comic books from Heritage Auctions (HA.com)
I also have posted two videos on restored comic books on my YouTube channel:
When I Prefer Purple Label Books: https://youtu.be/ahIgwHKkck8
How to Price Purple Label Books: https://youtu.be/xD0mu3F0spM
