M- = Mint Minus. Plays quietly. Either a nearly new recently manufactured LP, or an older LP in excellent condition for its age. Older LP's (30-50 years old) rated M- may have an occasional tick or groove noise.
VG++ = Record may have surface noise or ticks here and there. Many rare/collector LP receive this rating.
VG+ = Some noticeable surface noise, but not so much that record is not enjoyable.
VG = Definitely some major noise or other imperfections, but worth it because the record is so rare.
COVER GRADING
M- = Recent albums still look new, and older collector's albums look nearly new..accounting for some small fading or loss of cover gloss. I post pictures of all the albums I'm selling so you can see for yourself.
VG++ = Still looks good,but used. Minor imperfections will be noted in listing.
VG+ = Some strong wear. Possibly seam splits and/or taped seams.
VG= Beaten senseless