Bourbon & whiskey glossary

Allocated

A bottle produced in quantities smaller than demand, rationed by the distillery to states, distributors, and retailers rather than sold freely.

Angel's Share

The portion of whiskey that evaporates from the barrel during aging — a major reason aged bourbon is scarce.

Barrel Pick (Single Barrel Selection)

A single barrel chosen by a store, bar, or club and bottled exclusively for them, producing a one-of-a-kind expression.

Barrel Proof / Cask Strength

Whiskey bottled at the strength it comes out of the barrel, without dilution. Often higher proof and more intense.

Batch

A specific run of a whiskey blended from a set of barrels. Batch numbers can signal differences in proof and character between releases.

BTAC

The Buffalo Trace Antique Collection — a highly allocated annual set including George T. Stagg, William Larue Weller, and Thomas H. Handy.

COLA

Certificate of Label Approval — the public TTB approval a producer needs before selling a labeled bottle across state lines. A common early signal of upcoming releases.

Distributor

The middle tier of the U.S. three-tier system that buys from producers and sells to retailers, and where state-level allocation is set.

Drop

The moment an allocated bottle becomes available at retail — online or in store. The event Caskwire alerts you to.

Dusty

An old bottle found still sitting on a shelf, often from a discontinued or older production era, prized by collectors.

Fair Market Value

What a bottle realistically trades for based on recent real-world sales, as opposed to the highest asking prices online.

MSRP

Manufacturer's Suggested Retail Price — the intended shelf price, often far below an allocated bottle's secondary value.

NAS (No Age Statement)

A whiskey that doesn't state its age on the label, meaning the youngest whiskey in it is at least the legal minimum.

Pappy Van Winkle

The most famous allocated bourbon line in the world, released in very small quantities each year and the benchmark of the chase.

Secondary Market

The resale market for bottles after retail. Referenced for valuation; reselling spirits is illegal without a license in most U.S. jurisdictions.

Single Barrel

A bottling drawn from one individual barrel rather than blended from many, so each barrel varies slightly.

Three-Tier System

The U.S. structure separating producers, distributors, and retailers — the framework through which allocation is rationed at each step.

TTB

The Alcohol and Tobacco Tax and Trade Bureau, the U.S. agency that regulates alcohol labeling and issues COLAs.

Unicorn

A bottle so rare or sought-after that finding one at retail feels almost mythical — the white whale of bourbon hunting.

Wheated Bourbon

Bourbon that uses wheat as its secondary grain instead of rye, typically softer and rounder. Weller and Pappy are wheated.

Put these terms to work in the guides — start with What Is Allocated Bourbon?