When the George T. Stagg distillery first released Blanton’s in 1984, it was priced at a then-jaw-dropping $30—double or triple the cost of most other bourbon on the shelves. At the time, the industry was still in the midst of a decadeslong tailspin, a glut of barrels accumulating in Kentucky warehouses as Americans focused their attention on vodka, wine coolers and any cocktail made with peach schnapps. So why release a luxury product?

“[Elmer T.] Lee had nothing to lose,” claimed The New York Times in its 2013 eulogy of the legendary master distiller. By then, however, his distillery was known as Buffalo Trace and Blanton’s was on the verge of becoming a unicorn, with a market price of $300—that is, if you could actually find it. Today, the idea of a world-class bourbon for under $50 seems downright laughable.

And yet, there is a lot more out there than you might think.

If the focus of bourbon enthusiasts, especially “taters,” today seems exclusively homed in on allocated LEs (limited editions) that sell for hundreds if not thousands of dollars, MSRP be damned, the industry stalwarts continue to release plenty of exemplary bourbon at a great price. There is simply an economy of scale that allows the massive, multinational conglomerate–owned distilleries like Wild Turkey (a Campari subsidiary), Jim Beam (Suntory) and Four Roses (Kirin) to continue to offer top-shelf liquid at bottom-shelf prices. As one of our tasters bluntly figured:

“If you’re aging a spirit, you’re not going to spend all that time just to make something shitty.”

Nonetheless, this was a fairly challenging tasting due to an overriding sameness from bourbon to bourbon. Unlike, say, single malt whiskeys, rum or agave spirits, bourbon has a much narrower profile for what it can actually taste like. Strict production rules dictate that it be predominantly corn-based and aged in new charred oak, and the next thing you know, you find yourself swimming in a sea of caramel, vanilla and baking spice sameness.

Of course, there were a few standouts. 

For this tasting, Punch’s editorial staff was joined by Aaron Goldfarb, a frequent Punch contributor on the topic of whiskey. We blind-tasted 15 bourbons, almost exclusively from Kentucky’s largest distilleries, though a few economically priced craft options were also included. Below are our top five picks.

The only bourbon to return to the medals stand since our last tasting in 2017, Elijah Craig Small Batch doesn’t quite have the complexity of, say, Russell’s Reserve 10 Year Old, but its singular flavor note, which tasters described as banana pancakes drenched in maple syrup, still delivers. “This is what people are looking for when they drink bourbon,” said one taster.

"The nose finds supersweet deep caramel candy and almond extract, but don't be fooled. On the tongue, it's punch-in-the-nose dry and biting. Best served on ice, which takes down the burn and lets the pronounced woody flavors come through: lots of oak, strong tea and cigar tobacco. 

When the bottle was revealed, tasters were stunned that Wild Turkey’s higher-end line was actually eligible for an under-$50 tasting; it certainly has the dimensions, layers and sophistication of a pricier offering. Dry and a bit savory with pronounced spicy and herbal notes, including green peppercorn and cloves, this was the unanimous favorite.

Marked by a rich cascade of aromas and flavors, Basil Hayden Kentucky Straight Bourbon Whiskey is carefully matured for exceptional quality and distilled in the heart of bourbon country in Clermont, Kentucky. This unique, single small batch bourbon whiskey is blessed with rich hints of peppermint, notes of pepper, slight citrus overtones and a spicy, warming finish. Sip neat, on the rocks, in a classic Manhattan or Old Fashioned. Try it in a Mint Julep or Bourbon Mary while savoring the aroma with a spicy, peppery, honey-toned light body and gentle bite. Carefully matured for exceptional quality, Basil Hayden is artfully aged and bottled at 80 proof. Basil Hayden utilizes twice as much rye as the other bourbons in the collection for a gentle yet spicy flavor.

This Lawrenceburg, Kentucky, distillery is atypical in offering 10 different bourbon recipes spun from five yeast strains and two mash bills. One of the few widespread single-barrel releases still found at a decent price—and always made with recipe OBSV, denoting a particular mash bill and yeast strain—this bourbon was exceptionally balanced at the proof. There’s a bit of peanut on the nose, with a palate oscillating between sweet and spicy. (Different barrel numbers will vary slightly in profile.)