My Grading
M - Mint - Are records that are sealed and brand new.
NM- -Near Mint - Are near flawless records that appear to be opened but never played should have no visible scratches or marks on vinyl. Covers will be in the shrink with pretty much no visible flaws.
EX - Excellent - A record with very little flaws like a light scratch here and there maybe have some surface marks. Is considered to be better then VG+ but isn't quite a NM Record.
VG+ - Very Good + - Record may have some very light scratches, light scuffs and or surface marks. Should sound really good with little no background noise. Can have light warp that doesn't effect the play. Covers will be in shrink most of the time but if it isn't can have minor defects like a crease or cutout.
VG - Very Good - Will have many scratches and or scuffs. Can have surface marks and should have some surface noise when playing. Covers may have writing, seams starting to split, cutouts, creases, fading and or ring wear.
G and G+ - Good to Good + - Will have lots of scratches and some scuffs. Should be able to play all the way through with no death skipping, Will be much surface noise and crackling. Covers will have seam splits, writing, slight tears/rips, fading ring wear, maybe slight water damage and labels can have writing,
F - Fair- Will have loads of scratches and or scuffs. Will be quite noisy with pops and crackles. Some of these might play all the way through but won't sound the best. Can have skipping and visually will look bad.
Covers will have seam splits, may be falling part, taped seams, slight water damage, writing, rips/tears fading and ring wear. In this condition will have many of these things.
P - Poor - Badly warped, cracked and tons of scratches. Should not play all the way through without skipping.
Covers will be moldy, has lots of tears, writing, pieces missing, water damage and or fading.