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The
terms first edition and first printing are often used more
or less interchangeably in the book world, and really shouldn't be. A printing
is a single print run. An edition refers to the whole set of plates.
When any significant corrections or amendments are made to the original
plates, then you have a second edition. If a dozen separate printings are
made off the first set of plates, though, only those copies from the very
first printing are of significant value--and this is true, generally speaking,
even of highly collectible books. You may have the twelfth printing of the
first edition, but that doesn't mean you have a "true first".
Almost always, it is only the very first printing that has collectible value,
and that really counts as a "first edition". The agreeable term first printing, however, can also be found occasionally in a modern book club edition, in which case the book club will have just ordered some immense number of copies right off the first print run.
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