The exploration of the Pluto-Charon system by the New Horizons spacecraft represents the first opportunity to understand the distribution of albedo and other photometric properties of the surfaces of objects in the Solar Systems Third Zone of distant ice-rich bodies. Images of the entire illuminated surface of Pluto and Charon obtained by the Long Range Reconnaissance Imager (LORRI) camera provide a global map of Pluto that reveals surface albedo variegations larger than any other Solar System world except for Saturns moon Iapetus. Normal reflectances on Pluto range from 0.08-1.0, and the low-albedo areas of Pluto are darker than any region of Charon. Charon exhibits a much blander surface with normal reflectances ranging from 0.20-0.73. Plutos albedo features are well-correlated with geologic features, although some exogenous low-albedo dust may be responsible for features seen to the west of the area informally named Tombaugh Regio. The albedo patterns of both Pluto and Charon are latitudinally organized, with the exception of Tombaugh Regio, with darker regions concentrated at the Plutos equator and Charons northern pole The phase curve of Pluto is similar to that of Triton, the large moon of Neptune believed to be a captured Kuiper Belt Object (KBO), while Charons is similar to that of the Moon. Preliminary Bond albedos are 0.25+/-0.03 for Charon and 0.72+/-0.07 for Pluto. Maps of an approximation to the Bond albedo for both Pluto and Charon are presented for the first time. Our work shows a connection between very high albedo (near unity) and planetary activity, a result that suggests the KBO Eris may be currently active.