The Punisher was Mezco’s 3rd-ever Marvel ONE:12 Collective figure way back when the line launched in 2016, with several variants being released over the years that all became expensive and sought-after on the aftermarket. So it seems fitting that Mezco Toyz is celebrating 10 years of the line with a brand new First Appearance inspired version of Frank Castle: the 2026 ONE:12 Collective Punisher figure is now up for order!

It’s hard to believe that I’ve been blathering about the Mezco Toyz Marvel ONE:12 Collective figures series for over a decade now, but old articles don’t lie—Mezco has now been releasing one of the most popular specialty Marvel toy lines for 10+ years.

Perhaps the singular character Mezco Toyz has had the most success with in the line during that time is The Punisher, who’s been released in classic (shown below), Netflix, Fully Loaded and more flavors since the advent of the line. (My New York Toy Fair 2017 “Blackout” Punisher variant I got as press at the event might be my personal favorite purely for how crazy limited it is.)

Even with the numerous iterations Mezco has come out with for Punisher over a decade (their original Classic Punisher is pictured above), the demand has remained high—and so have aftermarket prices. All of the ONE:12 Collective Punisher action figures sell for well above their MSRPs on eBay these days, with the comic book versions being particularly in-demand and pricey.

And so, Mezco Toyz is going back to the well once again this year with a new Frank Castle figure, but not at all an unwelcome one: a version that captures Frank how he looked in his earliest appearances.

The figure itself is in a newer body than the original Punisher releases, which is a worthwhile update in and of itself. And the four different new heads are just awesome—the angry/yelling head is particularly dynamic and eye-grabbing.

In addition to the quartet of heads, we’re getting the usual generous cornucopia of accessories we’ve come to expect from Mezco, including:

—14 Interchangeable hands
—display base with posing post
—chest harness
—utility belt
—tactical belt
—left and right holsters
—ballistic shield
—knife
—boot sheath
—3 gun effects
—handgun
—2 pistols
—revolver
—arrow
—detonator
—explosive
—crossbow pistol (with removable scope and real string)
—submachine gun
—sniper rifle with bi-pod
—Rocket launcher

This is obviously an absolutely INSANE load out of weapons and accessories. I think the crossbow pistol and ballistic shield are especially inspired choices, but the options you get to pose and display this figure are simply wild.

But is it worth the upgrade if you (still) own one of the previous Punishers? That’s trickier to say. I sold off my classic comic book Punisher years ago (for quite a bit more than this new version) and have been missing it, so this is a no-brainer purchase for me, personally. I think it’s an easy purchase for anyone else without a comic book Punisher as well. For those who do have one, I think the most important factors will be how much they like the new heads and weapons.

This figure is priced at $125, which is quite a bit higher than the original Mezco Punisher, but doesn’t seem nuts given the quality and extensive amount of extras this comes with.

Not to worry, though, Marvel Studios fans: Mezco also has a new MCU Punisher lined up to launch next week capturing the character’s latest live action look. I think it goes without saying that that will also be a hot release, what with Punisher’s upcoming Spider-Man Brand New Day movie appearance.

The new Mezco ONE:12 Collective Punisher Classic figure is up for pre-order now and estimated to ship in the winter. Given Mezco’s record with these, I’d be stunned if this doesn’t sell out long before it ships, so be aware of that if you’re deliberating.

How do you think this new comics Punisher compares to Mezco Toyz’ previous ones, Marvel collectors? Is this latest version worth the pickup to YOU?