| 0 | - | cover | 1 | pencils: Mac Raboy; inks: Mac Raboy | Captain Marvel [Billy Batson]; Spy Smasher [Alan Armstrong]; Bulletman [Jim Barr]; Minute Man [Jack Weston]; Mr. Scarlet [Brian Butler] |
| 1 | Marvel Comics' Free $25.00 Prize Contest | promo (ad from the publisher) | 1 | script: ? (signed as The Editor); letters: ?; typeset | |
| 2 | Ghost of the Deep | comic story | 20 | pencils: C. C. Beck; inks: C. C. Beck | Captain Marvel [Billy Batson]; Sterling Morris; Hugo (villain, a scientist, introduction, death); The Ghost of the Deep [Spriggins] (villain, chief newscaster of the Monopoly Broadcasting Company, introduction, death); unnamed members of the Ghost's gang (villains, introduction for all, all die) |
| 3 | You've Seen Them All...But You Haven't Seen Anything Yet! | promo (ad from the publisher) | 1 | | Bulletman; Shazam; Captain Nazi |
| 4 | The Riddle of the Ages | comic story | 18 | pencils: Mac Raboy; inks: Mac Raboy | Bulletman [Jim Barr]; Bulletgirl [Susan Kent]; The Invisible Man (villain, introduction) |
| 5 | Death Doesn't Whisper | text story | 2 | script: Joseph J. Millard | |
| 6 | Minute Man Meets Mr. Skeleton | comic story | 18 | pencils: Phil Bard; inks: Phil Bard | Minute Man; Mr. Skeleton (villain, introduction, death); Franklin D. Roosevelt (guest star) |
| 7 | - | comic story | 2 | script: Tom McNamara; pencils: Tom McNamara; inks: Tom McNamara | |
| 8 | If it's the Best you're looking for... | promo (ad from the publisher) | 1 | pencils: various; inks: various; colors: various; letters: ?; typeset | |
| 9 | The Coming of America Smasher | comic story | 18 | pencils: Charles Sultan; inks: Charles Sultan | Spy Smasher [Alan Armstrong]; Eve Corby; Admiral Corby; America Smasher (villain, introduction) |
| 10 | - | comic story | 1 | | |
| 11 | The Death Battalion | comic story | 15 | pencils: Don Rico; inks: Don Rico | Mr. Scarlet [Brian Butler]; Pinky Butler; The Death Battalion [Horned Hood; Ghost, Black Clown; Thorn; Laughing Skull; Dr. Death; Brain [Loomis] (introduction)] (villains) |
| 12 | Spy Smasher no. 2 | promo (ad from the publisher) | 1 | letters: ?; typeset | |