- Robert E. Howard (original story); L. Sprague DeCamp (original story); Roy Thomas (adaptation)
- Gil Kane; John Buscema
- Joe Rubinstein
- sword and sorcery
- Thoth-Amon (Villain); Zarono (Villain); Strombanni (Villain; Intro); Valenso (Villain; Intro); Galbro (Villain; Intro); Conan; Lady Belesa; Tina; Demon of the Caves (Villain; Intro); Picts
- Fleeing from the Picts, Conan comes across a cave filled with treasures – and a terrible demon! Nearby, Zingarian nobleman Valenso has settled with his family up north to escape his past. The rival pirate captains Strombanni and Zarono land on the shores of Valensos domain, seeking the lost treasure of Tranicos. Valenso is not interested, but when he learns that the Stygian magician Thoth-Amon has been sighted nearby, he panicks and declares he will do anything to board a ship. They are joined by Conan, who now is the only one who knows the location of the treasure.
Adapted from the short story "The Treasure of Tranicos" by Robert E. Howard and L. Sprague DeCamp.
Continued next issue.
- Fred Blosser
The story behind "The Treasure of Tranicos".