Gem Mint - is the absolutely perfect card, considered higher than Mint. For example, for all the 1909-11 T206s out there, only a handful or so are Gem Mint.
Mint - No flaws, the perfect card. Four perfect corners, 55/45 or better centering, smooth edges, original color and gloss, no print spots, color or focus imperfections. A professionally graded mint card receives a large premium in price, often 200% or much more than Near Mint prices quoted in price guides. Many of the cards pictured in this book do not even in exist in this grade, and Mint examples would sell for lots of money.
Near Mint-Mint (Nrmt-Mt) - Close, but not a Mint card. Centering must be 60/40 or better. There may be a minor flaw with the card such as a slight 'touch' (a light point of wear where the card was bumped or touched), the picture slightly out of focus, or a slight color imperfection. Nrmt-Mt cards also receive a premium in price over a Near Mint card. This premium is not as high as a Mint card. Again the cards from this book are rarely found in this high of grade. Cards from the 1990's are regularly found in this grade.
Near Mint (Nrmt) - Close, but not a Near Mint-Mint (Nrmt-Mt) card. Its centering can't be worse than 70/30. One of the following imperfections is allowable: very slight touch to two or three corners, slight wear to the edge, minor print spots or color imperfections. This is the standard grade which cards are measured by in the hobby. The prices quoted in most books are for Near Mint cards.
Excellent-Mint (ExMt) - Card may have visible surface wear or a printing defect which does not detract from its overall appearance. Corners may have slight fraying. The picture may be slightly out of focus. The card may show loss of original gloss or have a minor wax stain on the back. Centering must be 80/20 or better.
Excellent (Ex) - Centering must be 80/20 or better, with four fuzzy corners. It may also have rough edges, minor discoloration, print spots or focus imperfections.
Very Good (Vg) - This card shows wear, but still retains some attractiveness. Corners may be somewhat rounded. There may be edge wear, border discoloration, hairline creases.
Good (Gd), Fair (Fr), Poor (Pr) - The bottom rung of cards. Good is the best and Poor is the worst. A Good card has significant wear, such as severe corner rounding, creasing, fading, staining or other problems. Altered or retouched cards will fall into this category). A Good card still retains some attractiveness. A Poor card has extreme problems, such as a significant part of it is missing, or ink or paint has marred it. The difference between a Fair and a Poor card, is that a fair card has some semblance of appeal while a Poor card is utterly repulsive.
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"Between Grades" - Some cards are given a grade between grades. For example ExMt is really a grade between Ex and Nrmt. GdVg is a grade between Gd and Vg. VgEx is a grade between Vg and Ex.
A Plus (+) or Minus (-) symbol after the grade says that it leans in the direction of the grade right above or below, but not enough to call it a "Between Grade".
