The first album I ever owned was a cheapo folk album that had a version of "Puff the Magic Dragon" on it, and I got that when I was 6.
The first album I ever bought was one of those K-tel albums. The first real album I ever bought was the Bay City Rollers' "Rock & Roll Love Letter" album, which used the cover of "Wouldn't You Like It?" and seven of the songs from "WYLI", two from "Once Upon a Star" plus "Money Honey" and "Rock & Roll Love Letter." Seriously.