Or subscribe where you already listen
New episode every weekday morning. The Cut Weekend lands Saturday and Sunday.
Read the full transcript
What does it mean when a label says the mash came from one state and the name on the front belongs to a company that's never run a still there at all?
I'm John from Chasing the Unicorn Podcast. These three came out of this morning's brief, and I kept the ones I actually wanted to talk about.
There's a name for that, and it's Non-Distiller Producer — a brand that buys finished whiskey from somebody else's still instead of running its own, ages it or finishes it the way it wants, and puts its own name on the bottle. Redemption just put out a new Bottled-in-Bond single barrel that's about as clean an example as you'll find. The whiskey inside was distilled at Midwest Grain Products' Ross & Squibb Distillery in Indiana, off a mash of sixty percent corn, thirty-six percent rye and four percent malted barley, and it was bottled by Redemption down in Frankfort, Kentucky. And the label doesn't hide any of that — it carries the barrel number, the mash bill and the distilling season, right there on the back. That's the same transparency instinct we went through the other day with Bottled-in-Bond, where the guarantee is one distillery, one season, a real age and a real proof, no blending shortcuts. Here, the guarantee is different — it's not about the still, it's about whether the label tells you who actually ran it.
Sourced whiskey isn't lesser whiskey. Some of the best bourbon and rye on a shelf right now came out of a contract distillery in Indiana before anybody's brand name touched it. Where it stops being honest is when a company leans on words like handcrafted or small batch and never tells you where the liquid was actually made, and lets you assume it was them. Redemption didn't do that here — they printed the barrel number. My read is that full disclosure, not the word sourced itself, is what ends up separating the NDPs that last from the ones that get called out for hiding it. The honest sentence about this whole category is this: the name on the front has never been a reliable guide to who did the work, and it still isn't.
What does it mean when a label says the mash came from one state and the name on the front belongs to a company that's never run a still there at all?
Tell me if you knew Redemption's whiskey came out of Indiana before I said it, or if that's new information — either way, put it in the comments.
Everybody at the bar says the older the age statement, the better the whiskey — is that true, or is that just the number doing the talking?
It's a reasonable thing to believe, because more time in a barrel usually does mean more of the wood shows up in the glass — more caramel, more oak, deeper color, and for a long stretch of American whiskey history, age statements were rare enough that seeing one at all meant a brand was confident enough to print it. So the shorthand stuck: bigger number, better bottle. Michter's Celebration Sour Mash is the release that tests it directly. This year's blend is seven Kentucky barrels — four rye, three bourbon — and the ages inside that blend run from twelve years all the way up to thirty, bottled at fifty-seven point six percent alcohol by volume. If the rule were simply true, you'd expect them to just bottle the thirty-year barrels on their own and call it a day.
They didn't, and that's the tell. A thirty-year barrel on its own is just as likely to be over-oaked and bitter as it is to be great — decades in wood can strip a whiskey as easily as it can deepen it. The twelve-year barrels in that blend aren't the weak link being covered up by the older stock; they're there to cut the over-extraction and keep the whole thing balanced. So the old bar line is true, but not for the reason people think — it's not that older is better, it's that a blender who knows what a thirty-year barrel actually needs next to it can make age work. Age is a tool in that glass, not the whole recipe.
Everybody at the bar says the older the age statement, the better the whiskey — is that true, or is that just the number doing the talking?
Let me know where you first heard that one, and who told you — the comments are open.
If you had exactly one shot at the allocated bottle you actually wanted, would you rather bet on a state lottery, or take a ticket in a church raffle instead?
A raffle out of Northfield, Ohio is running right now, benefiting a local parish, and the pool behind it is stacked — King of Kentucky, Pappy Van Winkle 23 Year, William Larue Weller, George T. Stagg, Blanton's Gold, and more than ninety other allocated bottles. Only twenty-five hundred tickets are being sold against that hundred-bottle field, each one can only win once, and you don't even need to show up for the drawing to collect. The case for the raffle is that it's the rare piece of math in this whole hobby you can actually run — a fixed ticket count against a fixed, published bottle list. Compare that to a typical state lottery, where you're usually entering blind against a field size nobody discloses, chasing one specific bottle with no idea how many other people want the same one. The case against the raffle is just as real: you're still handing money over with zero guarantee you walk away with anything, and dressing that up as a donation doesn't change what the transaction actually is. Spread your shot across a hundred bottles, though, and most tickets land on something you didn't actually want.
My call is the raffle wins, because disclosed odds against a named field beats a black box every time, and that's a math argument, not a charity one. Now, I could be wrong, and I'll make the case against myself. A single-bottle state lottery for the one release you actually want can beat a hundred-bottle raffle on a bad day, if the entry pool for that one bottle happens to be small — the raffle's math only helps you if you'd genuinely be happy with any of the hundred, and if you're only after one specific name, you might be better off ignoring the raffle and just chasing the lottery built around it.
If you had exactly one shot at the allocated bottle you actually wanted, would you rather bet on a state lottery, or take a ticket in a church raffle instead?
Say which one you'd actually take in the comments, and why.
There's a lot in this morning's brief I didn't get to — Virginia Distillery Co. just filed a new collaboration with a California brewery, and it's capped at six barrels total, finished in casks that used to hold an imperial stout. I didn't have room to get into that one here, and that's exactly why the brief runs free every morning — so you can go check what I just told you against the paperwork yourself.
That's The Cut. Follow the show wherever you listen, so the next one finds you first. The full American Whiskey Industry Brief is free every morning at chasingtheunicornpodcast.com. I'm John Schuster. Thanks for joining me. Your unicorn is out there.
Listen to today's episode and find us on Spotify and everywhere you listen at chasingtheunicornpodcast.com/episodes.
Informational and entertainment purposes only. Nothing here is investment advice. Verify before buying, trading, or bidding. We are not liable for errors or financial losses.
An 1897 law just won a gold medal. Bib & Tucker's first-ever Bottled-in-Bond release — an 8-year Tennessee high-rye, double the federal minimum age — took gold at the San Francisco World Spirits Competition this week, and it's already on shelves nationwide.
The biggest consumer news this window is a Tennessee brand's first Bottled-in-Bond release winning a real competition medal, and it's rolling out nationally at $64.99 — no lottery required. It matters because Bottled-in-Bond is the one label term with a real 1897 federal law behind it, guaranteeing age, proof, and provenance, and this bottle just proved the category still has teeth. Today's edition also covers a second brand-new BiB entrant from Redemption, a $100 Ohio charity raffle stacked with Pappy and Stagg, and the largest single Willett auction ever assembled.
Bib & Tucker just released its first-ever Bottled-in-Bond bourbon, and it came out swinging. The bottle is an 8-year Tennessee high-rye — double the four-year minimum the 1897 Bottled-in-Bond law requires — and it just took gold and a 92-point score at the 2026 San Francisco World Spirits Competition. Here's why that law matters. Bottled-in-Bond isn't a marketing term. It's a transparency guarantee: one distillery, one distilling season, four years minimum in a federally bonded warehouse, bottled at exactly 100 proof. No blending shortcuts allowed. Bib & Tucker doubles that age floor while hitting the proof mark exactly, and it runs the Lincoln County charcoal-mellowing process on top of that extra aging, which softens the high-rye spice you'd expect from a younger bonded whiskey. The sub-$70 BiB shelf has been owned by the same handful of names for years — Old Grand-Dad, Evan Williams, Heaven Hill. Bib & Tucker just showed up at $64.99 with a competition medal in hand, positioned a step above the traditional value tier but well short of allocated-bottle money. It's rolling out nationally now, not through a lottery.
NDP stands for Non-Distiller Producer — a brand that doesn't run its own still. Instead, it buys whiskey from a contract distillery, ages or finishes it, and bottles it under its own name. Redemption's new Bottled-in-Bond single barrel is a clean example. It's distilled at MGP's Ross & Squibb Distillery in Indiana from a 60% corn, 36% rye, 4% malted barley mash bill, then bottled by Redemption in Frankfort, Kentucky, with the exact barrel number, mash bill, and distilling season printed on the label. That's the difference between sourced whiskey done transparently and sourced whiskey hiding behind heritage marketing — Redemption tells you exactly where the liquid came from. MGP is the largest contract distiller in the country, and its bourbon and rye show up under dozens of brand names on the shelf. Sourced doesn't mean lesser. It means someone else did the distilling, and the label should say so. What this changes: Read the "Distilled in [state]" line on the back label before you buy. It's the most honest sentence on the bottle.
Most of the bottles we cover here have a realized sale price to compare against a past peak. This one doesn't — it's still up for bid at Sotheby's through September 18. What we do have is the estimate range, and a $10,000 spread on a single lot tells you something real: even Sotheby's specialists aren't certain where a 1974 pre-Prohibition-adjacent whiskey like this settles, because so few comparable bottles ever trade.
Rickhouse Report: 5 stories · Regional Report: 3 stories
◆ The Brief (free): https://chasingtheunicornpodcast.com/the-brief/
◆ Listen on Apple Podcasts: https://podcasts.apple.com/us/podcast/chasing-the-unicorn-bourbon-american-whiskey/id6788592653
◆ Listen on Spotify: https://open.spotify.com/show/1IZS2wXY7nAUcL9akukblE
◆ YouTube: https://www.youtube.com/@chasingtheunicornpodcast
Want the full picture? The complete American Whiskey Industry Brief — every section, every source, every story — is published free every morning at chasingtheunicornpodcast.com. Read it at chasingtheunicornpodcast.com/the-brief/.
Chasing a specific bottle? The Bourbon Release Calendar lists every lottery deadline, walk-up window and MSRP we're tracking — updated every morning.
Mentioned in this episode: William Larue Weller, George T. Stagg, Pappy Van Winkle, Heaven Hill, Evan Williams, Michter's, Jim Beam, Old Forester, Blanton's, Old Grand-Dad, King of Kentucky, BTAC