Goldmine Grading System Explained – Mint, NM, VG+ and All the Rest
Why Grading Even Exists
Every seller on Discogs, eBay, or at the flea market uses their own terms like "good condition" or "lightly played." That's garbage. So collectors worldwide can speak the same language, the US magazine Goldmine developed a clear system in the 70s – now the de facto standard.
Anyone who doesn't know the codes pays too much when buying and gets too little when selling.
The Grades in Detail
Mint (M)
Unplayed, sealed, straight from the press. Theoretically perfect. In practice, M is never given to played records – serious sellers use it only for sealed copies or factory-fresh promos.
If someone sells you a 1973 Pink Floyd LP as "Mint," they're either lying or don't understand the system. Walk away.
Near Mint (NM or M-)
Looks like new, sounds like new. Played once or twice at most, no visible scratches under normal lighting, no crackling on playback. Cover without creases, ring wear, or corner dings. Inner sleeve present and clean.
Reality: only about 10–15% of all used records reach NM. Anyone offering everything as NM is lying.
Very Good Plus (VG+)
Light signs of use under close inspection, but no audible impact on sound. Maybe a tiny scratch in the runout, light ring wear on the cover, otherwise clean. For most collectors the "comfort grade" – sounds top-tier, costs less than NM.
This is the category most honestly graded used records land in.
Very Good (VG)
Visible scratches, light surface noise or crackle in spots, but the music stays clearly audible without skipping. Cover has ring wear, possibly writing or small edge tears.
VG is the threshold where music is still genuinely enjoyable. Below it, things get tiring.
Good (G), Good Plus (G+)
Heavily worn. Audible crackle, visible scratches, possibly slight warping. Plays through, but surface noise dominates in places. Cover clearly damaged.
Only sensible for extremely rare records you simply can't find in better shape, or as a cheap placeholder.
Fair (F) and Poor (P)
Skipping, deep scratches, warps, possibly jumps. Cover broken or missing. Serious shops rarely list these grades – only for hardcore completists or wall art.
Grade the Cover Separately
Important: vinyl and cover are graded separately. A typical listing looks like this:
Pink Floyd – The Dark Side of the Moon (1973 UK 1st) – Vinyl: VG+ / Cover: VG
Meaning: record very good, cover has visible wear. A cover in NM with vinyl in VG costs roughly the same as the reverse – both have to be right for top prices.
Ring Wear, Seam Splits, and Other Cover Sins
- Ring wear: imprint of the inner record on the cover, classic on double LPs
- Seam split: opened glue seam (top/bottom/side)
- Spine wear: wear along the cover spine
- Writing: signatures, ex libris, price tags
- Punch hole / cut corner: marking for promo or remainder stock
Each of these drops the cover grade – even if the record itself is NM.
Visual vs. Play-Graded
Visually graded means: seller looked at the record but didn't play it. This is risky because invisible hairline scratches can still crackle.
Play-graded means: seller played the record through and the grade is based on actual sound. That's worth gold – and costs a few euros more at serious dealers.
The Most Common Self-Grading Mistake
Collectors grade their own records almost always one grade too high. People who think "VG+" usually have "VG." When selling, that leads to complaints. Rule of thumb: better honestly list VG and surprise positively than promise VG+ and disappoint.
Anyone wanting to sell their collection should first read our guide on estimating record value – we go into pricing per grade there.
Bottom Line
Goldmine isn't rocket science: two letters, clear rules, valid worldwide. Knowing the system means better buying, fairer selling, fewer regrets. And always remember: grade vinyl and cover separately.
Unsure how to grade your own collection? Bring it to Second Music & Fun in Munich. We go through the records together, grade honestly, and give you a buying offer based on real market data.