I bought the Ted Smart Letters from Father Christmas that was on eBay last week

On comparison with the HarperCollins 2004 edition, http://www.tolkienbooks.net/php/details2.php?id=719, there are a few differences.

The ISBN is different, the HC edition is 0261103865 and the Ted Smart edition is 000777916X.

The printers are different, HC is Butler & Tanner, Frome while Ted Smart is Imago, Thailand.

The introduction page does not have the JRRT monogram in the Ted Smart edition.

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The publication dates are 2004 for HC and 2006 for Ted Smart.

The dust-jacket spine is slightly different between the two editions.
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The main difference though is the binding, the HC edition is red cloth but the Ted Smart is laminated with the same design as the dust-jacket and on the front and the flaps 'blurb' is reprinted on the rear. Not sure why the Ted Smart was issued with a dust-jacket.
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I have a second impression HC edition, if anyone who has a first impression and notices any other changes then I would be very interested in hear about them.