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actually AJ i'm pretty sure what happened is they stopped making the Les Paul for a short while and made the SG under the name Les Paul, but Les Paul(the guitarist) didn't like the SG or something, so they rereleased the "old" les paul, and named the "new" one SG, to avoid confusion.
edit: (oh here we go, the real story)
"In 1960, Gibson Les Paul sales were significantly lower than they had been in previous years, so in 1961 the model was given a completely new body style that was thinner and had two sharp cutaway horns that made the upper frets more accessible. The neck was slightly heavy, which made it tilt downwards. The neck joint was also moved up about three frets. It was felt the new design could compete with the popular Fender Stratocaster, another benefit being lower production costs than that of the previous model. The guitar was advertised as having the "fastest neck in the world," due to its slender neck profile and virtually non-existent heel. The newly-designed Les Paul was popular but Les Paul, whose namesake was carried over from the previous version, did not like the new design and asked to have his name removed from it. Gibson renamed the model the "SG" which was short for "solid guitar". Even though Les Paul's name was officially removed from the model in 1961, the plastic Les Paul nameplates (positioned between the rhythm pickup and fingerboard) were in abundance in the Gibson factory and SG models having these nameplates were built and sold by Gibson up to the end of 1963.
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SG versus the Les Paul
Physically, the SG has a shallower body than the Les Paul, and thus is much lighter; the neck profile is also typically shallower, although this varies from year to year and guitar to guitar. The body is usually made entirely of mahogany (a notable exception is the Swamp Ash SG Special and some walnut bodied 1970's models), and does not have the curved, maple top section of the earlier design; neither does it have the accompanying body binding. The SG is "neck heavy", a fairly uncommon trait in an electric guitar. Perhaps the most striking visual difference is that the SG is a double-cutaway guitar. The standard SG shares the basic pickup and control layout (twin humbuckers with dedicated tone and volume controls, three position selector switch) with the standard Les Paul. The three main variations on the basic Les Paul design (Special, Jr., Custom) also had equivalent SG models."
-Wikipedia
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