Very Good (Vg)
The record has obviously been played many times, and may have slight deterioration in sound quality, noticeable surface marks and the occasional light scratch. Sleeve will have wear and tear, as expected for it's age.
Good (Gd)
The record has been played so much that the sound quality has noticeably deteriorated, perhaps with some distortion and scratches. The cover and contents suffer from significant folding, scuffing of edges, discoloration, etc.