Angel's Share
The angel's share is the portion of aging spirit lost to evaporation through the barrel over time, commonly a few percent of volume per year, varying by climate, warehouse position, and barrel.
Evaporative loss is not uniform: upper floors of a rickhouse run hotter and lose more, and hot, dry stretches pull volume while pushing proof up. Because the lost spirit was made from grain you paid for, the angel's share is a real cost. Tracking it per barrel turns it from a year-end surprise into a number you can forecast and price around.
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