First off, I have to say that this is one of the mintiest boxed/moc figures i have ever seen from the 60’s.
Captain Action was an action figure from 1966, that came with separate costumes that allowed the figure to change into Superman, Batman, Spider-Man, Captain America, Aquaman, the Phantom, The Lone Ranger (and Tonto), Flash Gordon, Buck Rogers, Sgt. Fury, Steve Canyon and the Green Hornet.
Captain Action was Ideal Toy Company’s answer to Hasbro’s GI Joe, and the central characters of both lines were created and designed by the same person, toy and idea man Stan Weston. Though Captain Action was produced for only two and a half years, the characters and accessories have become amongst the most fondly remembered, and expensive to obtain on the collector’s market, action figures of the era.
The company Ideal produced this Spider-Man in 1968 as an addition to it’s second series. They were shipped during the Christmas season and then the entire line was cancelled due to declining sales. It’s unknown how many were manufactured or what percentage of case assortments were Spideys but the reality to collectors is that he is by far the absolute toughest outfit to find (although Superboy, blue Lone Ranger, and ring box Batman are not far behind).