Brand New ------- New sealed/Never opened.

Like New --------- Zero signs of wear.

Excellent --------- Top shape, at first glance there will appear to be no scratching. Upon close scrutiny there may be some very lite scratches, or slight imperfections on the record. 

Very Good ------- Lite scratching that dose not affect play. Minimal wear.

Good -------------- Lite to medium scratching that may cause some popping, or a little skipping, but not to the point of preventing play. 

Acceptable ------- Still Some Life left in the record. Medium scratching, popping or some skipping. Moderate wear.

Poor --------------- Novelty only. Heavy scratching that affects play. (I would only sell something like this if its an ultra rare collectible)

Slip Cover:

Like New --------- Zero signs of wear.

Excellent --------- Top shape. No tears, or stains, may have minimal signs of wear.

Very Good ------- Lite wear. A little crinkling from being taken out and put back, no tears or stains. 

Good -------------- Some wear. May have crinkling from being put in and taken out, partial splitting on the seam, small tears, or lite staining.

Acceptable ------- Heavy wear. Still usable, but in bad shape.

Poor --------------- Really bad shape. Not really good for offering any protection for the record. Included for the sake of keeping the album as complete as possible.

Album Cover:

Like New --------- Zero signs of wear.

Excellent --------- Top shape. Minimal signs of wear.

Very Good ------- Lite wear. No structural damage, corners may have some wear, and artwork may have lite wear.

Good -------------- Moderate wear. May have damage to the corners or a little tearing on the seams. Artwork may be worn off in some places.

Acceptable ------- Heavy wear. May be torn in places, and have a tearing on the seams, but still holds the record well enough. Art may have significant wear.

Poor --------------- Really bad shape. Not really good for holding the record any more. (Not in a condition I would care to offer for sale)