HOW TO GRADE 

Different graders/collectors use different terminology when it comes to grading.  For instance some collectors use the term mint condition to refer to an album that seemingly has no flaws.  Others say that if the cellophane has been broken and the album opened, it cannot be in mint condition ... they therefore use the term near mint (NM).  Others will put the minus sign after M to show that it has been opened (M-) this is pronounced  ' Mint minus '.  Others will use the term mint minus to mean something different.  Some people will use the term very good plus plus (VG++) to mean basically the same thing.  Some people will use all of these terms.  ask  the dealer/collector you are buying from if he/she uses the Pinkerton scale to grade.  If not, encourage them to do so.  If they are not using this guide, then the below Guide is only a suggestion of what others terms could mean. This will give you an idea as to where to start.  When you are dealing over the phone or the Internet make sure that you provide clear definitions as to exactly what you mean when you use one of these terms.  Likewise before buying a piece, make sure you understand exactly what the seller means by his terminology.  For example good should mean just that. Good, playable condition.  However, when you're on the selling end of things the piece always looks a little better. Unfortunately, to some dealers good actually means good only for a frisbee.  To further compound problems, grading is a very subjective thing.  What looks good to one dealer might be unacceptable to another.  Make sure you are dealing with a reliable source. If you are the seller make sure that you're completely honest and that your customer knows exactly what you mean by your terminology. It never pays to be misleading in your grading procedures to try to make a little extra on the sell.  You stand to lose the confidence of the buyers and future sells. 

Final note: it is the industry standard to grade albums by visual inspection.  This can sometimes be deceptive of what the album may sound like.  This being the case, an album that looks to be near mint could sound scratchy when played.  This doesn't change the rating any.  Likewise an album that seems to be all beat up might play perfect.  (there again, grade does not go up) ... everything is visual. 
If you are going against the norm and decide that you want a sound grade...be sure to request this.  If you're selling, it is never a good idea to grade by sound.  But if you do, offer the visual grade also.  Below is the list that I use for grading.  You have permission to cut and paste the list if you credit it by name. Keep in mind that covers and albums are graded separately.  If there is only one grade listed for an album it should mean that both album and cover are in this condition.  If not, there should be two grades listed (i.e. M/VGcvr this grade means the album is in mint condition ,the cover is in very good condition) 

Pinkerton scale:

Covers:
S = Factory Sealed. (make sure you are buying/selling an actual factory seal and not a retailer reseal)
M = Mint. Appears to be factory fresh. opened, but perfect in all details
NM =Near Mint. one slight problem (i.e.dogged corner of cover, slight fingernail scratch, dents and dings in edge of cover opening )
M- = any combination of two of the above problems or one defacing problem (as listed below)
VG++ = any combination of three of the above problems or two of the above problems and one defacing problem
VG+ = any combination of four of the above problems or two defacing problems
VG = very good .three or four defacing problems or multiple minor problems or relatively minor water stains and/or ring wear .
VG- = more serious water stains and/or ring wear or multiple defacing problems or slight cover tear. 
G+ = no more than one-fourth cover affected by water stain.  No more than 1" tear. ring wear does not emaciate cover art
G = good. from one-third to the entire cover damaged by water stain (but still intact) corners torn (other than DJ) complete ring wear
F = fair.  Main body of cover still recognizable but heavily damaged by tears, liquid stains etc.
P = poor.  definitely not for the collector (as truly, nothing below VG++should be) cover will still fully protect album. A cover that is torn in two is by no means to be considered Poor quality! It's to be considered trash.

OTHER ABBREVIATIONS: DJ = Disk Jockey copy. PS = Picture Sleeve. EP = extended play. co = cut out. LP cover will have a hole, notch or cut corner. ri=reissue. cc= cut corner. bb = small hole in the label of a 45. 
Defacing problems and abbreviations:
woc = writing on cover. wol = writing on label. toc or tol = tape on cover or label. ss = seam split 

Albums :
S = Factory Sealed. (make sure you are buying/selling an actual factory seal and not a retailer reseal)
M = Mint. Appears to be factory fresh . opened, but perfect in all details
NM =Near Mint. one slight problem (i.e. paper scuff , spindle mark at center hole, fingernail scratch on label , non- removable fingerprint or previous sticker glue)
M- = any combination of two of the above problems or one defacing problem (as listed below) or surface scratch [show as link] 
VG++ = any combination of three of the above problems or two of the above problems and one defacing problem 
VG+ = any combination of four of the above problems or two defacing problems
VG = very good. three or four defacing problems or multiple minor problems or relatively minor surface scratches .
VG- = more serious surface scratches or multiple defacing problems or slight groove depth scratch . 
G+ = no more than one-fourth L.P. affected by surface scratches .  No more than 1" groove depth scratch . 
G = good. from one-third to the entire L.P. damaged by surface scratches.  Several G D scratches (L.P. in this condition tends to skip)
F = fair.  L.P. is still playable but heavily damaged by G D scratches or small break
P = poor.definitely not for the collector (as truly, nothing below VG++should be) some songs are at least partly playable. An LP that is broken in two is by no means to be considered Poor quality! It's to be considered trash.

OTHER ABBREVIATIONS: DJ = Disk Jockey copy. PS = Picture Sleeve. EP = extended play. co = cut out. LP cover will have a hole, notch or cut corner. ri=reissue. cc= cut corner. bb = small hole in the label of a 45. 
Defacing problems and abbreviations:
woc = writing on cover. wol = writing on label. toc or tol = tape on cover or label. ss = seam split 

Vanity statement 
If all dealers/collectors would adopt my grading list above and truly follow it honestly, the world of record collecting would be a much more honest, open, and reliable field.  As I have created this scale and use it exclusively in my grading of albums, it bears the name Pinkerton scale.  If you do decide to adopt it and/or refer others to it please refer to it as such.  Thank you. 

Sound grading: 
For those insisting on grading by sound below is the Pinkerton sound scale.  As this scale does not take into consideration the visuals of the vinyl it is imperative to let the customer know you are using the Pinkerton sound scale.  It would also be advisable to offer the visual scale rating as well. 

Sound scale:
S = Factory Sealed. (make sure you are buying/selling an actual factory seal and not a retailer reseal)
M = Mint. Appears to be factory fresh . opened, but no surface noise whatsoever
NM =Near Mint. one slight problem (i.e. single pop, slight surface (white ) noise, slightly distorted speed due to groove waves and/or distortion) on one or two tracks 
M- = any combination of two of the above problems or one above problem on three or four tracks
VG++ = any combination of three of the above problems or one of the above problems on an entire album side or pop through one entire track
VG+ = any combination of four of the above problems or two of the above problems on each album side or pop through entire track on two or three different tracks
VG = very good.  Any of the above problems on entire album side.  Or a pop through entire track on more than three tracks
VG- = multiple problems to one side of album and minor problems to second side
G+ = sound distortion of some type to entire L.P. (on both sides) possible skips
G = good .  definite skips through entire album.  And/or heavy white noise
F = fair.  L.P. is still playable but most tracks skip
P = poor.definitely not for the collector (as truly, nothing below VG++should be) some songs are at least partly playable

Vanity statement 
If all dealers/collectors would adopt my grading list above and truly follow it honestly, the world of record collecting would be a much more honest, open, and reliable field.  As I have created this scale and use it exclusively in my grading of albums, it bears the name Pinkerton scale.  If you do decide to adopt it and/or refer others to it please refer to it as such.  Thank you. 

Price guides and the Pinkerton scale: 
As all price guides are generally based on their own scale, some adjustments might be needed to be made when using the Pinkerton scale.  Below is a guide as to how price structure should work when using the Pinkerton scale. 

S = sealed. 30-50% above listed mint price
M = Mint. as listed in price guide
NM =Near Mint.  90 % of listed mint price
M- = mint minus.  80 % of listed mint price
VG++  = very good plus plus. 70 % of listed mint price
VG+ = very good  plus. 60 % of listed mint price
VG = very good.  50 % of listed mint price
VG-  = very good minus.  40 % of listed mint price
G+  = good plus.  30 % of listed mint price
G = good.   20 % of listed mint price
F = fair.  10 % of listed mint price
P = poor.  1-5 % of listed mint price