An explanation of ratings (applies to CDs and cassettes also):

Mint (M) – Opened LP but vinyl and cover look new. (No cut out holes, saw marks, cut corners, stickers, vinyl defects or writing on label or cover) I rarely use this rating if ever.

Near-Mint (NM) –Almost looks like new but there could be cut out holes, saw marks, cut corners, stickers, vinyl defects or writing on label or cover, more than one of these problems and the LP drops to the next rating. (I use this rating for unopened LPs because you never know what you are going to get.)

Near-Mint Minus (NM-) – Almost looks like new but there could be cut out holes, saw marks, cut corners, stickers or vinyl defects, two or more of these problems and the LP drops to the next rating.

Very Good Plus (VG+) Looks like new but there could be cut out holes, saw marks, cut corners, stickers or one or two superficial scratches.

Very Good (VG) LP still has a sheen to it but here could be cut out holes, saw marks, cut corners, stickers, several superficial scratches, writing on label or cover or ring wear on the cover.

Very Good Minus (VG-) The LP has several superficial scratches, cut out holes, saw marks, cut corners, stickers, vinyl defects, or writing on label or cover. The Rat doesn’t sell anything below this grade, ‘nuff said!

Good Plus (GD+) Split seams on cover, worn out cover, water damage to cover, lots of scratches on vinyl, cut out holes, saw marks, cut corners, stickers, vinyl defects, or writing on label or cover but the music can still be enjoyed. May or may not skip when played.

Good (GD) Split seams on cover, worn out cover, water damage to cover, lots of scratches, cut out holes, saw marks, cut corners, stickers, vinyl defects, or writing on label or cover. This LP may skip when played but the music can still be enjoyed.

Good Minus (GD-) Getting close to being a frisbee, split seams on cover, worn out cover, water damage to cover, lots of scratches. Cut out holes, saw marks, cut corners, stickers, vinyl defects, or writing on label or cover. An LP in this condition is just no good so why bother. The Rat sez, “get the cassette if you can’t afford the CD”.