A "Cut-Out" is NOT synonymous with a "Promotional" LP. Yes, some of the LP's sent to radio stations and product buyers at record stores in advance of street date had one corner of the cover clipped off, but many didn't, having instead a white label (which is why those are referred to as "White Label Promos" amongst record collectors) in place of the colorful one found on commercial copies, or sometimes just a "Promotional Copy" stamp on the cover (with a commercial label on the LP).
The term "Cut-Out" refers not to the clipped cover, but the album being cut-out of the label's catalog, discontinued. When an album was discontinued, all copies remaining in stock at the record company's warehouse had a corner of the cover clipped off, and sold for peanuts to distributors specializing in "remainders".
When Stereo became big in the last 60's, all the mono Kinks, Beach Boys, etc. LP's could be found in drug stores and other general-interest retailers for 59 cents! Since the "stereo" copies of many LP's were not true stereo but instead "Monaural recordings electronically reprocessed for Stereo" (the worst sounding records ever made), we collectors scoured the markets for the Mono cut-outs. Some of my Mono Kinks album covers have not a clipped corner, but instead a small metal rivet installed.
So non-Promo cut-outs are generally not the first LP's of any given album pressed, but in fact the last. Some labels (WEA---Warner/Elektra/Asylum---for one) would plaster a sticker on the shrinkwrap identifying the LP as a budget-priced LP (WEA used the term "Super Saver Series", CBS "Nice Price"). These LP's were no different from those shipped before the titles became budget-priced, the sticker just having been applied after the fact.
The term "Cut-Out" refers not to the clipped cover, but the album being cut-out of the label's catalog, discontinued. When an album was discontinued, all copies remaining in stock at the record company's warehouse had a corner of the cover clipped off, and sold for peanuts to distributors specializing in "remainders".
When Stereo became big in the last 60's, all the mono Kinks, Beach Boys, etc. LP's could be found in drug stores and other general-interest retailers for 59 cents! Since the "stereo" copies of many LP's were not true stereo but instead "Monaural recordings electronically reprocessed for Stereo" (the worst sounding records ever made), we collectors scoured the markets for the Mono cut-outs. Some of my Mono Kinks album covers have not a clipped corner, but instead a small metal rivet installed.
So non-Promo cut-outs are generally not the first LP's of any given album pressed, but in fact the last. Some labels (WEA---Warner/Elektra/Asylum---for one) would plaster a sticker on the shrinkwrap identifying the LP as a budget-priced LP (WEA used the term "Super Saver Series", CBS "Nice Price"). These LP's were no different from those shipped before the titles became budget-priced, the sticker just having been applied after the fact.