1940 Leader Novelty Superman cards predate the 1940 Gum Inc release by a few months and are considered the first Superman trading card ever. That said, these “trading cards” are actually back panels of boxes for candy and mystery toys released by Leader Novelty and not standalone cards as Gum Inc’s set was.
Of the 36 cards released, cards 25-36 are short prints and actually feature images that were also used in the Gum Inc release later that same year. The first 24 cards utilized images from panels of Superman #5 but with speech bubbles and other comic narration removed in favor of a simple card caption. Card fronts feature a much simpler color design than later releases with some printings using only black and red ink and others using black, red, and blue. The reverse of each card included fairly lengthy story notes.
Since these cards were actually perforated box panels, it is near impossible to find a card in mint condition making this one of the most rare and expensive Superman sets of all time.
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1940 Leader Novelty Superman Checklist
Base Set – 36 Cards
| 1 | Through the Flames |
| 2 | Smashing the Gangsters |
| 3 | The Race in the Sky |
| 4 | The Armored Car Holdup |
| 5 | A Lesson for Crooks |
| 6 | Fumes of Doom |
| 7 | Saving the Workmen |
| 8 | Breaking the Racket |
| 9 | Rescue of the Mayor |
| 10 | Human Tenpins |
| 11 | The Toppling Smokestack |
| 12 | Peril in the Air |
| 13 | The Bank Robbery |
| 14 | The Yellow Mask |
| 15 | The Bursting Bomb |
| 16 | The Trap |
| 17 | Millions in Gold |
| 18 | The Fight for Peace |
| 19 | The Shattered Press |
| 20 | Through Granite Walls |
| 21 | Snatched from Death |
| 22 | Twisted Steel |
| 23 | A Shot in the Night |
| 24 | Cracked Skulls |
| 25 | Fight in Mid-Air |
| 26 | Trapped in the Glacier |
| 27 | Trapped in the Air |
| 28 | Capture of the Kidnapers |
| 29 | The Averted Train Wreck |
| 30 | Roller Coaster Rescue |
| 31 | Superman at the Circus |
| 32 | Disaster at the Circus |
| 33 | Superman |
| 34 | Attacked by Sharks |
| 35 | The Runaway Ship |
| 36 | Mountain Tragedy |