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Shadow of the Batman#3
Cover: Marshall Rogers

Shadow of the Batman #3

Feb 1986 · DC · 1.75 USD; 2.50 CAD
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In "The Malay Penguin!", Batman faces a cunning twist as the Penguin's apparent obsession with a legendary statue masks a far more dangerous scheme. Written by Steve Englehart and brought to life with moody precision by Marshall Rogers—whose pencils and inks define the cover and interior—this 1986 issue delivers a layered mystery where every clue leads deeper into the shadows.

Contains 3 stories
The Malay Penguin!
17 pp · Superhero
Batman [Bruce Wayne]Robin [Dick Grayson]Penguin [Oswald Cobblepot]BrunoMurdockJoker (heard only)Mr. ReedAlfred PennyworthSilver St. CloudRupert ThorneDr. BellHugo Strange (cameo, as ghost)Broome (obscured)

In "The Malay Penguin!" from Shadow of the Batman #3 (1986), Batman follows a trail of cryptic clues left by the Penguin, who appears to be after the famed statue known as The Malay Penguin—only to uncover a far more devious scheme beneath the surface. With sharp deduction and a keen eye for detail, Batman races to outwit the villain before the true danger unfolds.

The Deadshot Ricochet
17 pp · Superhero
Batman [Bruce Wayne]Robin [Dick Grayson]Wonder Girl (cameo)Harlequin [Duela Dent] (cameo)Penguin [Oswald Cobblepot]Deadshot [Floyd Lawton]Rupert ThorneHugo Strange (as ghost)Silver St. CloudJoker (cameo)
Calamity from the Clyde
6 pp · Science Fiction, War
John B. Temple-SmytheMacDoogal

ComicBooks.com Value

Our Model is In Beta
Raw (VF) $10
CGC 9.8 · 2 in census $296*
CGC 9.6 · 2 in census $136*
CGC 9.4 · 3 in census $95*
CGC 9.2 · 1 in census $86
CGC 9.0 none in existence
CGC 8.5 · 1 in census $75*
Show all 7 grades ▾
CGC 8.0 · 1 in census $68*
* estimate — limited direct-sales data at this grade
Our model’s value — refined as new sales data arrives · CGC census counts shown where available

This exact issue on

Raw — NM ▾ $8.09–$53.39 3 listings
NM $8.09 NM $20 NM $53.39
Raw — NM- $18 1 listing Raw — VF/NM $8.98 1 listing Raw — VF+ $11 1 listing
Raw — VF ▾ $3.89–$10.5 4 listings
VF $3.89 VF $7.2 VF $8.98 VF $10.5
Raw / ungraded ▾ $6–$10 3 listings
Raw / ungraded $6 Raw / ungraded $8 Raw / ungraded $10
Verified matches for Shadow of the Batman #3 · eBay asking prices, seen 15 days ago

More listings for this title

VF/NM $6.74 Signed $59.99 Signed $68.71
Related listings we couldn't confirm as this exact issue · 3 total · seen 15 days ago

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Full credits

writer Steve Englehart
artist, colorist Marshall Rogers
inker Terry Austin
letterer Milt Snapinn
cover pencils, inks Marshall Rogers

Reprints

↩ Reprints Weird War Tales #52 (1977), Detective Comics #473 (1977), Detective Comics #474 (1977)

Reprinted in Batman: Strange Apparitions #[nn] (2000), Tales of the Batman: Steve Englehart #[nn] (2020), La Sombra de Batman #1 (2024)

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