Vinyl LP Rating System
Explanation of the 'Goldmine Standard grading system'
The most commonly used valuation system for LPs is the Goldmine Standard. Our valuation system ( see here ) is also based on it. The system is roughly made up of 6 classes: M (mint), NM (near mint), VG+ (very good plus), VG (very good), G/G+ (good/good plus), F/P (fair, poor). Sometimes EX (excellent) is also used, this classification is between NM and VG+.
The classification works as follows:
Mint (M)
An album in Mint condition is a new album in the original seal (if delivered in seal), without any damage. A used LP (even if it has only been on the turntable for a few seconds) may therefore never be described as MINT. Many sellers do this with seemingly perfect albums, but this is not the intention. The only MINT albums that you can buy at Bob's Vinyl can be found under New LPs . There, all LPs are in MINT condition and therefore unplayed.
Near Mint (NM)
A good description of a Near Mint LP is: "It looks like the LP just came out of the store and was opened for the first time". With the emphasis on IT LOOKS LIKE. We don't know for sure. In other words: the LP is as good as perfect. For second-hand LPs, this is the highest possible rating.
NM LPs are shiny and have no visible damage. There are no stickers or anything like that on the labels and there are no visible production errors. The LPs play without any background noise. Near Mint does not mean 'never played'. An LP that is treated properly and played on a good turntable can still be classified as NM after many plays.
NM covers are free from creases, ring wear and seam splits.
Please note: The requirements for an album from the 50s are just as high as for an album from the 2000s. An album that is 60 years old must also meet the above requirements to receive NM status. The chance that you will find an album from the 50s in NM status is therefore also very small.
Excellent (EX)
Excellent is not used by everyone, but is generally known. EX roughly stands for a NM album with very small, actually negligible damage. Such as a very small fold in the sleeve or one or a few very light scratches on the LP that will not be audible.
Use in Bob's Vinyl rating system:
COVER: 
: 5 out of 5 points. In mint condition. Covers with a 5 out of 5 predicate are in (almost) mint condition. There are hardly any signs of use visible, if there are any they are negligible. But beware: these LPs are not new. >> Comparable to NM or EX
PLATE: : 5 out of 5 points. In mint condition. Records with a 5 out of 5 predicate are in 'as good as new condition'. There are hardly any signs of use visible, let alone audible. If there are any small scratches, they are negligible. But beware: these LPs are not new. >> Comparable to NM or EX
Very Good Plus (VG+)
A good description for a Very Good Plus LP is: "With a few minor issues this record would be NM." Most collectors will be happy with a VG+ LP.
VG+ LPs have some signs of wear such as very light smudges or scratches that do not or hardly affect the listening experience. The LPs can also be very slightly warped, without affecting the sound.
VG+ Covers may be slightly discoloured, light ringwear may be visible. There may also be some light wear to the seams of the cover or there may be a cut-out from the cover. Does the cover have any of these signs of use? The cover can then never be described as NM.
Use in Bob's Vinyl rating system:
COVER: : 4 out of 5 points. Very good condition with some minor signs of use. Think of 'ringwear' (see photo below), or bent corners, or wear on the edges or small tears in the cover or 'promo cutouts' (see photo below) or small written texts on the cover or tape on the edges. >> Comparable to VG+
PLATE: : 4 out of 5 points. Very good condition with some minor signs of use. Records in this condition may have some minor scratches. These scratches are not or barely audible during playback. Records in this condition do not skip. >> Comparable to VG+
Photo: Light Ringwear
Very Good (VG)
Very Good LPs basically have the imperfections of a VG+ LP, but to a greater extent. You can buy these LPs a lot cheaper, the value is about 25% of a NM LP. A VG record for the right price is worth its money, collectors often settle for a VG record if they can't find a better one or if they simply find a better version too expensive.
VG LPs are less shiny than VG+ and NM LPs, they have more wear on the grooves, they have scratches that you can feel with your fingernail. When playing these LPs have noise and some scratches are audible. Especially during silences the defects are clearly audible, but they do not drown out the music.
VG Covers have many signs of use such as heavy ring wear, folds, dented corners and seam splits. The covers may also have been written on, stickered or stamped.
Use in Bob's Vinyl rating system:
COVER: : 3 out of 5 points. Good condition, but with quite a few signs of use. Think of 'ringwear' and/or bent corners, and/or wear on the edges and/or small tears in the cover and/or 'promo cutouts' and/or written texts on the cover and/or tape on the edges. >> Comparable to VG
PLATE: : 3 out of 5 points. Good condition, however with quite a few traces of use. There may be some scratches on the record that cause 'ticking' when playing. It is also possible that the record skips or gets stuck at a point. >> Comparable to VG
Photo: from left to right Punch Hole, Cut-out and Cut Corner
Good Plus and Good (G+, G)
This is where it gets less interesting. These LPs have about 10 - 15 % value of the NM LP. But then only with the more special LPs that you don't often come across. So if you have a 'million seller' like Thriller by Michael Jackson in G+ then it is actually worthless.
Good Lp's still play, but with a lot of background noise. Not really a pleasant listening experience. The cover is badly damaged, has tears, damage from removed stickers or for example texts written on the cover with a marker.
A Good / Good Plus LP is really only worth buying if it is a rare LP for a good price that you have been looking for for a long time. Later you can probably replace it with a better version.
Use in Bob's Vinyl rating system:
COVER: : 2 out of 5 points. Reasonable condition, but not really worth it. LPs with sleeves in this condition are in principle not sold by BOB's VINYL, unless they are special or rare copies.
PLATE: : 2 out of 5 points. Reasonable condition, but not really worth it. Vinyl contains many scratches that are experienced as very annoying during playback. LPs in this condition can also skip at various points. LPs in this condition are in principle not sold by BOB's VINYL, unless they are special or rare copies.
Photo: Beginner Seam Split
Poor and Fair (P, F)
Poor (P) and Fair (F) LPs have a value of 0 to 5 percent of the NM value, if they are sold at all. It is more likely that they end up in the trash. These LPs and covers are very badly damaged, hardly play anymore and are not worth looking at.
Only extremely rare LPs will still be traded in this condition, but then for very small prices.
Use in Bob's Vinyl rating system:
COVER: : 1 out of 5 points. Very bad. LPs in this condition are not sold by BOB's VINYL .
PLATE: : 1 out of 5 points. Very bad. LPs in this condition are not sold by BOB's VINYL .