M: Still sealed
M-: An opened item that appears 'M'. Virtually perfect playback.
NM: A few minor visual imperfections with virtually no audible impact. Top quality play.
EX: A few more surface marks than NM with very few audible imperfections. Quality play.
VG+: Surface scuffs and lines. Some light surface noise or a few tics or pops. Enjoyable play.
VG: Defined scuffs, lines, and scratches. More surface noise, tics, and pops than VG+. Acceptible play.
G: Heavy wear, deep scratches, with egregious surface noise, clicks, and pops. Poor play.
Hybrid Example:
Vinyl which is VG in appearance but plays NM. = Visual Grade: VG Playback Grade: NM
The reverse may also occur. = Visual Grade: NM Playgrade: VG
Album covers are graded on a case by case basis given the myriad of issues which may impact each.
All grading is completely subjective and provided to the best of my ability.