Many dealers won’t use a grade higher than this, implying (perhaps correctly) that no record or sleeve is ever truly perfect.

Near mint records are shiny and free of visible defects. No writing, stickers, other markings or spindle marks appear on the label. No major factory defects are present; a record and label obviously pressed off center is not Near Mint.

If played, an NM record will do so without surface noise. Near Mint records don’t have to be “never played”; a record used on an excellent turntable can remain NM after many plays if the disc is properly cared for.

NM covers have no creases, ring wear or seam splits of any kind.

These are high standards, and they are not on a sliding scale. A record or sleeve from the 1950s must meet the same standards as one from the 1990s or 2000s to be Near Mint!

It is estimated that no more than 2 to 4 percent of all records remaining from the 1950s and 1960s are truly Near Mint. This is why they fetch such high prices, even for more common items. They must meet these standards to qualify.

VG+ records may show some slight signs of wear, including light scuffs or very light scratches that do not affect the listening experience. Slight warps that do not affect the sound are OK. Minor signs of handling are OK, too, such as telltale marks around the center hole, but repeated playing has not misshapen the hole. There may be some very light ring wear or discoloration, but it should be barely noticeable.

VG+ covers should have only minor wear. A VG+ cover might have some very minor seam wear or a split (less than one inch long) at the bottom, the most vulnerable location. Also, a VG+ cover may have some defacing, such as a cut-out marking. Covers with cut-out markings can never be considered Near Mint.

Very Good (VG)
Many of the imperfections found on a VG+ record are more obvious on a VG record. That said, VG records — which usually sell for no more than 25 percent of a NM record — are among the biggest bargains in record collecting, because most of the “big money” goes for more perfect copies. For many listeners, a VG record or sleeve will be worth the money.

VG records have more obvious flaws than their counterparts in better shape. They lack most of the original gloss found on factory-fresh records. Groove wear is evident on sight, as are light scratches deep enough to feel with a fingernail. When played, a VG record has surface noise, and some scratches may be audible, especially in soft passages and during a song’s intro and ending. But the noise will not overpower the music otherwise.

Minor writing, tape or a sticker can detract from the label. Many collectors who have jukeboxes will use VG records in them and not think twice. They remain a fine listening experience, just not the same as if it were in better shape.

VG covers will have many signs of human handling. Ring wear in the middle or along the edges of the cover where the edge of a record would reside, is obvious, though not overwhelming. Some more creases might be visible. Seam splitting will be more obvious; it may appear on all three sides, though it won’t be obvious upon looking. Someone might have written or it or stamped a price tag on it, too."