I searched for google then I typed in grading vinyl records and clicked on the site Discogs Help - Grading Vinyl and CDs
Discogs uses the Goldmine Standard for grading the condition of items listed in the Marketplace.
These standards have been expanded by our community of sellers to include definitions of CD specific gradings.
Mint (M)
Vinyl
Absolutely perfect in every way. Certainly never been played, possibly even still sealed. Should be used sparingly as a grade, If at all.
CD
Perfect. No scuffs/scratches, unplayed - possibly still sealed.
Insert/Inlay/Booklet/Sleeve/Digipak: Perfect. No wear, marks, or any other imperfections - possibly still sealed.
Near Mint (NM or M-)
Vinyl
A nearly perfect record. Many dealers won't give a grade higher than this implying (perhaps correctly) that no record is ever truly perfect. The record should show no obvious signs of wear. A 45 RPM or EP sleeve should have no more than the most minor defects, such as almost invisible ring wear or other signs of slight handling. An LP cover should have no creases, folds, seam splits or other noticeable similar defects. No cut-out holes, either. And of course, the same should be true of any other inserts, such as posters, lyric sleeves and the like. Basically, an LP in near mint condition looks as if you just got it home from a new record store and removed the shrink wrap. Near Mint is the highest price listed in all Goldmine price guides. Anything that exceeds this grade, in the opinion of both buyer and seller, is worth significantly more than the highest Goldmine book value.
CD
Near perfect. No obvious signs of use, it may have been played - but it has been handled very carefully.
Insert/Inlay/Booklet/Sleeve/Digipak: Near Perfect. No obvious wear, it may have only the slightest of marks from handling.
Very Good Plus (VG+)Vinyl
Generally worth 50 percent of the Near Mint value. A Very Good Plus record will show some signs that it was played and otherwise handled by a...