The term "lost classic" is applied liberally and often erroneously to unreleased recordings that resurface years later in a maelstrom of hype. However, for the forgotten mod rock also-rans the Action, the term is not only justified, it is painfully bittersweet. On par with such classics of the era as The Who Sell Out or Ogden's Nut Gone Flake but more focused than either, the Action's Rolled Gold goes beyond "lost classic" – it is the influential masterpiece no one was ever allowed to hear. Despite being signed to Beatles producer George Martin's AIR label and benefiting from a strong club following, the Action never scored a chart hit. By the time they recorded these demo tracks in 1967, the band had grown weary of the musically limited mod scene, which was on its last legs. Guitarist Pete Watson had been replaced by Martin Stone, and the band had developed a more mature sound, one only hinted at on such previous cuts as "Twenty-Fourth Hour".

The Action are one of the great "lost" bands of mid-'60s England. Though they filled mod clubs with happy patrons and managed to score George Martin as a benefactor, they only released a handful of unsuccessful singles during their brief existence. Most of their music remained in the vaults for years, only to be discovered later and celebrated. After years of reissues that only told part of the band's story, Grapefruit's 2018 Shadows and Reflections: The Complete Recordings 1964-1968 collects everything: their five officially released singles, BBC sessions, their legendary demos from 1967, backing tracks, alternate takes, different mixes, and songs they recorded just before the band broke up in 1968…