I’ve never been one who read comic books but I remember reading a book as a child, I don’t remember the name of the book but it would have been late 80s early 90s, where the characters were discussing valuable comic books. One of the characters was new to comics and the other was an old “pro”, probably both were about 10 years old, and they talked about Howard the Duck number 1 being the ultimate holy grail comic. Is that comic really that rare and/or valuable? Was it ever?
I can get a decent copy on ebay right now for 4.99
Ever? Dunno…certainly never the holy grail though.
I do remember when it was released there was a little brouhaha about getting one and was the circulation low etc. The price was probably inflated for a little bit. But it never was over a few bucks then.
Back in the 80s, Howard the Duck #1 was a top collectable. IIRC, Overstreet had it at about $16-20, which was a very high price for a comic that recent.* When my wife bought me the entire run as a Christmas gift (along with the entire run of the original Swamp Thing 
), it probably cost more than eight other issues of the comic, and was very hard to find (she got me a reprint of the story).
So what happened? George Lucas. The movie was such a flop that the bottom dropped out of the market for the comic.
This should be an object lesson for anyone who things collectibles are an investment.
*Older comics, of course, cost far more.
Action Comics 1 has been the champ of most valuable comics for quite some time. I can’t find exact details but apparently one issue sold for over one million dollars in the time frame the OP mentions. HtD wouldn’t have been anywhere near as rare or dear.
Why a duck?
So the value… got down, America?
Without looking it up…the original Wrightson issues are probably…not cheap…still.
The first couple of Moore ones would also probably be…not cheap.
I got them at cover price. Twenty cents, it looks like. 
Probably, but this was before Moore took over, and I was only interested in the original Len Wein run.
Last Christmas, the Ukulele Lady got me a shirt.
Want to swap wives?
Not that I would wish death on anyone, but I hope I’m around the day Dave “The Dentist” Anderson goes to the big comic book store in the sky so we can finally see his Mile Hile Action #1 and more importantly, his Allentown Detective #27. If the condition of either of these comics is what people think they are, the sale value will obliterate any price we’ve ever seen. (Assuming he hasn’t tried to secretly restore them.)
Because, according to The Rule Of Cool, if you need to reference a comic, “Superman’s debut in the first issue of Action Comics” doesn’t make for snappy dialog like saying “Howard the Duck #1”.
(Now I’m wondering if the OP is confused why, after he heard that on TV, and bought a dozen Howard #1s, he isn’t rich yet.)
I was musing on this earlier today for other reasons and it occurred to me that relatively few characters debut in their own titles. Of the significant characters (i.e. one or more major recent or pending films starring them and who had their own comic titles):
DC
Superman: Action Comics #1
Batman: Detective Comics #27
Wonder Woman: All-Star Comics #8
Green Lantern : All-American Comics #16 (original Alan Scott version: the Hal Jordan version first appeared in Showcase #22)
Flash: Flash Comics #1 (original Jay Garrick version: the Barry Allen version first appeared in Showcase #4)
Marvel
Captain America: Captain America Comics #1
Iron Man: Tales of Suspense #39
Hulk: The Incredible Hulk #1
Thor: Journey into Mystery #83
Spider-Man: Amazing Fantasy #15
Wolverine: The Incredible Hulk #180/181
Daredevil: Daredevil #1
The teams do a little better - the X-Men and Fantastic Four both started in #1 of their own titles. The Justice League didn’t, though (The Brave and the Bold #28). I’m sure I’m overlooking a few, but as best I can tell, Captain America and Daredevil are the exception, not the rule. Even Howard the Duck wouldn’t qualify - he first appeared in Adventure into Fear #19.