Usually vinyl, some recycled vinyl does appear in some cheaper records, but sometimes virgin vinyl is available.
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A vinyl record sleeve
The only thing different about coloured vinyl and regular vinyl is that the red vinyl usually makes it collectible and therefore valuable.
Original Pressing (First Pressing)
If you purchased the vinyl records and they are yours and you are not going to use them in a public performance or make money out of them, then go for it.
a thiller vinyl album is worth 50 to 3,000 dollars