MINT (M) - absolutely perfect, never played, could be still sealed.

NEAR MINT (NM or M-) - a nearly perfect record. The record should show no obvious signs of wear.

It looks like you just brought it home.

VERY GOOD PLUS (VG+) - Shows some signs that it was played and otherwise handled by a previous owner who took good care of it.

Record surfaces may show some slight signs of wear and may have slight scuffs or very light scratches that don't effect listening.

The label may have some ring wear or discoloration, but it should be barely noticeable.

VERY GOOD (VG) - Many of the defects found in a VG+ record will be more pronounced in a VG disc.Groove wear will start to be noticeable, as will light scratches(deep enough to feel with a fingernail) that will affect sound.

Labels may be marred by writing, or have tape or stickers(or their residue) attached.

GOOD (G) or GOOD PLUS (G+) - Will have significant surface noise and scratches and visible groove wear.

Poor (P) - The record may be cracked, badly warped, and won't play through without skipping or repeating.