The Rarest Ninja Turtles Variants Ever Produced Cost $16K, Thanks to a Piece of Fabric
Ask most Teenage Mutant Ninja Turtles collectors what the rarest figure in the line is, they’ll have one answer: Scratch the Cat. Part of the last wave of unique characters released in the original Playmates Ninja Turtles line, Scratch has taken on almost-mythical status with collectors, and a price tag to suit: expect to pay $6k for one mint-on-card. But there’s another set of figures just as rare and almost as expensive, though far less discussed: 1994’s “Undercover Turtles.”
Depicting Raphael, Donatello, Michelangelo, and Leonardo in trench-coats and fedoras, along with a score of additional, character-specific accessories. An earlier “Undercover Donatello” figure was released by Playmates in 1990, and sells today for a fraction of the cost of the 1994 figures loose or carded. The four-figure difference maker is the real-cloth trench-coats on the 1994 Undercover Turtles, reputed to be the culprit for their small production run. Available on eBay this week is an AFA (Action Figure Authority) and CAS (Collector Archive Services) graded 80-Near Mint set of all four Undercover Turtles, giving one fan a chance at an instant collection of these grails. The only catch is the price: $16k for the set of four figures.
How the Undercover Turtles Became the Rarest Figures in the Original Toyline

Undisputedly, the “Undercover Turtles” series saw very low production numbers. Fans have hypothesized the inclusion of real cloth trench-coats increased manufacturing costs significantly, leading Playmates to produce the figures in reduced quantities. However, many other Ninja Turtles figures, including several produced the same year as the “Undercover Turtles” include similar “soft goods” clothing. One could argue the trench-coats are more elaborate soft-goods than many figures, but so are the robes included with “Shogun Splinter.”
If costs were one factor in the decision to limit production numbers, diminished retailer interest was the other. By 1994, Teenage Mutant Ninja Turtles was running out of steam on retail shelves, television screens, and in movie theaters. The cartoon series was near the end of its run, and mediocre box office returns for Teenage Mutant Ninja Turtles III: Turtles in Time put plans for a fourth feature film on hold. Playmates’ toyline had been on store shelves since 1988, and was growing stale despite the company’s efforts to reinvigorate it with new and bizarre variants of the four turtles. Of these, the Undercover Turtles figures were among the more logical choices: the trench-coat disguises (a homage to the Thing during Jack Kirby’s Fantastic Four run) were seen regularly in the cartoon, as well as in the live-action movies.
The Iconic Coats & Unique Accessories of the Undercover Turtles

All four Undercover Turtles figures were built off of 1992’s “Toon Turtles” figures, sculpted to better resembles the proportions and designs of the Turtles as they appeared on the animated series. New headsculpts were made for each Undercover Turtles figure, eschewing the pupilled eyes of the cartoon Turtles. Instead, Playmates opted for the classic, comic-inspired all-white eyes, which matched most of their other Ninja Turtles figures.
Requisite for the toyline, each Turtle included a raft of weapons and gear. Undercover Michelangelo, “the Bombardin’ Ballistic Super Spy,” included two machine guns, grenades, a dagger, a “Mystery-Faced Mutant Mask”, and his signature nunchucks. Undercover Raphael, “the Surveillance Spy Turtle Technician,” came with a camera, goggles, briefcase, pistol, “Super Sensitive Eavesdroppin’ Dish,” and his sais. Donatello, “Kowabunga Communications Mutant Master,” included two communicators, a laptop, “Spy Specs,” a pistol, and bo-staffs. Raphael and Donatello’s accessories have been found in yellow and in blue, likely the result of two differents factories’ production runs.
Leonardo, “the Devious Disguisin’ Dude,” was equipped with his katana, a pistol, gas masks, and two disguise masks: the “Anti-Foot Joke Face” and the “Mysterioso Mask.” The Mysterioso Mask is the same mask included with Michelangelo, while the “Anti-Foot Joke Face” is a take on the classic “Groucho Marx” disguise with glasses, nose, a bushy brow, and thick mustache. Leonardo includes one additional accessory that makes him the most valuable of the Undercover Turtles: a vacuum-metallized gold “Kowabunga Collector Coin.”
How Much a Complete Set of Undercover Turtles Can Sell For

Carded samples of the four Undercover Turtles routinely fetch $2-4k, depending on condition. The most recent recorded sales were eBay auctions for an AFA graded 80 Leonardo and Michelangelo, with Mike and Leo fetching elling $2.8k and $3.8k respectively. Lots of all four, especially in graded condition, are vanishingly rare.
The last recorded sale of a complete set was through Ohio-based Worley Auctioneers for $16,728. Worley’s site gives no indication as to the condition of the particular samples of each figure. With this price-tag in mind, the $16k asking price of the current eBay listing looks like a comparative bargain – or at least as much of a bargain sixteen-thousand dollar action figures can be.
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