Mint (or M) – Sealed and effectively perfect with no signs of wear or ever having been played.
Near Mint -- A record with only the slightest evidence of ever having been handled.
Very Good Plus Plus (VG++) A very clean record that has no marks aside from slight scuffs and abrasions caused by removal from a paper inner sleeve or perhaps a few marks on the label caused by a turntable spindle.
Very Good Plus (VG+) A record that has had a number of plays and may have some superficial scuffs, possibly mild to moderate spindle marks and / or possibly hairline scratches on the vinyl, which may produce some intermittent pops and possibly very light background noise.
Very Good (VG) A record that has generally been well cared for, but has seen a fair amount of play, with some scuffing. hairline scratches, spindle marks and / or light scratches. Should play through well, with the possibility of more pops and more background noise.
Very Good Minus (VG-) A record with significant scuffs, scratches, and spindle marks that should play through with moderate pops and surface noise, possibly of some duration.
Good (G) A record with will play through, but with significant pops, substantial background noise, and possibly intermittent skipping.
Poor (P) A record with MAJOR issues that will interfere with play, and will possibly be unplayable in part due to damage (I'll only offer an LP in this condition if it's an extreme rarity and / or for cover art display purposes).