A record in Good condition can be played through without skipping. But it will have significant surface noise, scratches, and visible groove wear. While the record will be playable without skipping, noticeable surface noise and 'ticks' will almost certainly accompany the playback.
Near Mint (NM or M-)
The record should show no obvious signs of wear. A 45 RPM or EP sleeve should have no more than the most minor defects, such as any sign of slight handling. An LP cover should have no creases, folds, seam splits, cut-out holes, or other noticeable similar defects. The same should be true of any other inserts, such as posters, lyric sleeves, etc.
