Book excerpt: This Element examines the trade in rare books and manuscripts between Britain and America during a period known as the 'Golden Age' of collecting. Through analysis of contemporary press reports, personal correspondence, trade publications and sales records, this study contrasts American and British perspectives as rare books passed through the commercial market. The aim is to compare the rhetoric and reality of the book trade in order to assess its impact on emerging cultural institutions, contemporary scholarship and shifting notions of national identity. By analysing how markets emerged, dealers functioned and buyers navigated the market, this Element interrogates accepted narratives about the ways in which major rare book and manuscript collections were formed and how they were valued by contemporaries.