Absolutely perfect in every way. Certainly never been played, possibly even still sealed. Should be used sparingly as a grade, if at all.
Very Good Plus (VG+)
The label may have some ring wear or discoloration, but it should be barely noticeable. Spindle marks may be present. Picture sleeves and inner sleeves will have some slight wear, slightly turned-up corners, or a slight seam split. An LP cover may have slight signs of wear, and may be marred by a cut-out hole, indentation, or cut corner. In general, if not for a couple of minor things wrong with it, this would be Near Mint.
