Mint (M): Absolutely perfect in every way. Never been played; still sealed.

Near Mint (NM or M-): A nearly perfect record. Shows no obvious signs of wear. 

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 signs of wear and may have slight scuffs or very light scratches that don't affect one's listening experiences. May have slight warps that do not affect the sound. 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. Surface noise will be evident upon playing, especially in soft passages and during a song's intro and fade, but will not overpower the music otherwise. Groove wear will start to be noticeable, as with light scratches (deep enough to feel with a fingernail) that will affect the sound. Labels may be marred by writing, or have tape or stickers (or their residue) attached. 

Good (G), Good Plus (G+): Good does not mean Bad! A record in Good or Good Plus condition can be put onto a turntable and will play through without skipping.  It will have significant surface noise and scratches and visible groove wear.

I do not sell vinyl records in condition worse than "Good".