Vinyl grading is usually based on the Goldmine standard and is as follows:
“SS” Still Sealed – For the collector that demands nothing but perfection.
“M” Mint - a near perfect, or unplayed record.
“NM” Near Mint - in factory fresh condition, like new.
EX+ - close to like new with only superficial signs of use that don't affect play. Will satisfy all but the most vain and demanding collector.
EX - a used, reasonable copy. Shows slight signs of wear.
VG+ - There will be obvious signs of wear and the possibility a few skuffs and/or light surface noise between tracks or during quiet passages, but still quite nice.
VG - significant wear and marks and usually quite noticeable surface noise,still plays great.
Good - In the record world, "Good" is not good! From here on down, we're talking about beat-up records!