When we go Control Panel >> Appearance and Personalization >> Fonts, the window shows a list of fonts currently installed on the system. We can copy those font files out (Ctrl-C) to a new location,
But where are the original physical font files stored?
Based on this thread, I'd thought that the files are stored in C:\Windows\Font, but it seems to be a virtual folder, Specifically when I download TypeLight (runned the program as administrator) and tried to open the font files in C:\Windows\Font, none are listed:

