Crime Does Not Pay!

In 2022, an arrest was made in a major theft at the Strozier Library at Florida State University. The theft was not of ordinary books, but of a variety you might not expect at a university library unless sneaked in by a so-called “student” – comic books. For some older folks, such a theft might seem incongruous, but it isn't today. Comic books are big business and prices can be astronomical. The current record is a cool $15 million for an Action Comics (Superman) first edition.

This theft wasn't quite at that level, but it was no laughing matter. There were 4,996 comic books stolen, valued at $250,000 - $500,000. They had been given to Florida State in 1981 by Robert and Frances Ervin, the collection named for their son, Robert Ervin, Jr. He was an avid comic book reader in his youth. Considering how many parents throw away their children's comic books when they become older, the Ervins were special people.

This theft turned out to be shocking and very disturbing. The thief was not someone you would have expected. It was the head of security for the library. Todd Peak was the Strozier Library head of security and he was one of only four people who had a key to the chain link fence that secured the collection during the 2020-2021 period when the comics went missing. It is possible the thefts occurred while the library was shut down during Covid. Peak being the guilty one became clear as he was selling comic books to local stores and collectors. He claimed to be downsizing his collection, which he was doing, only it wasn't his collection. The owner of a comic book shop became suspicious when he discovered that the comic books Peak was selling were on a list of comic books missing from the Florida State collection. His role of guarding the collection appeared to be more than a coincidence. An investigation of Peak's computer revealed numerous searches for information about the stolen comic books and valuations of them.

Peak pleaded no contest to the charges, but the Judge found him guilty. He was sentenced to 1½ years in prison, ten years of probation, and required to pay $70,000 in restitution, $50,000 of that to be paid in $250 monthly installments once he is released. It could have been worse. The plea deal enabled Peak to avoid a sentence that could have been as long as 30 years. Some of the comics have been located and returned to the library, but many others remain missing and likely never will be found. Dean of University Libraries Carrie Cooper was quoted as saying, “This was a difficult experience for those who knew and trusted Todd Peak...and those who have responsibility for stewardship of special collections.”
 

This is a story that never would have been written a few years ago. Comic books would not have been worth the risk and effort. We have been following the price of rare books and collectible paper for over 20 years. Back then, outside of something really special like a Superman first edition, comic books never appeared among our lists of high priced items. Now, they have become a large percentage. Comics and superheroes that are well-known only by aficionados of the genre can still go for six figures. The comic book market is no longer the providence of children. Big money collectors have taken over the most desirable part of the market. They are no longer just people who liked these comics when they were young. The high end of the field is now filled with investors. It's all about the money and comic books are just another commodity on which to make big money. Superman and Batman have lost their innocence. They are superheroes now for the investors for whom they are a cash cow. And, that's why we have people like Todd Peak, trying to get their piece of the new reality but not having the wealth to participate legitimately. Nice knowing you, kids. Comic books aren't for you anymore.