I use the
Goldmine record grading system, but use some leniency on promo records. Some collectors consider an otherwise pristine album with a jacket that has been punch-holed or stamped "Not For Sale" to be a worthless discard, but other buyers value these records for any number of reasons. I always leave a detailed notation about condition and weigh the album alterations into my overall grade.
GOLDMINE
GRADING GUIDE
MINT (M)
These are
absolutely perfect in every way. Often rumored but rarely seen, Mint should
never be used as a grade unless more than one person agrees that the record or
sleeve truly is in this condition. There is no set percentage of the Near Mint
value these can bring; it is best negotiated between buyer and seller.
NEAR MINT
(NM)
A good
description of a NM record is “it looks like it just came from a retail store
and it was opened for the first time.” In other words, it’s nearly perfect.
Many dealers won’t use a grade higher than this, implying (perhaps correctly)
that no record or sleeve is ever truly perfect.
NM
records are shiny, with no visible defects. Writing, stickers or other markings
cannot appear on the label, nor can any “spindle marks” from someone trying to
blindly put the record on the turntable. Major factory defects also must be
absent; a record and label obviously pressed off center is not Near Mint. If
played, it will do so with no surface noise. (NM records don’t have to be
“never played”; a record used on an excellent turntable can remain NM after
many plays if the disc is properly cared for.)
NM covers
are free of creases, ring wear and seam splits of any kind.
NOTE:
These are high standards, and they are not on a sliding scale. A record or
sleeve from the 1950s must meet the same standards as one from the 1990s or
2000s to be Near Mint! It’s estimated that no more than 2 to 4 percent of all
records remaining from the 1950s and 1960s are truly Near Mint. This is why
they fetch such high prices, even for more common items.
Don’t
assume your records are Near Mint. They must meet these standards to qualify!
VERY GOOD
PLUS (VG+)
A good
description of a VG+ record is “except for a couple minor things, this would be
Near Mint.” Most collectors, especially those who want to play their records,
will be happy with a VG+ record, especially if it toward the high end of the
grade (sometimes called VG++).
VG+
records may show some slight signs of wear, including light scuffs or very
light scratches that do not affect the listening experience. Slight warps that
do not affect the sound are OK. Minor signs of handling are OK, too, such as
telltale marks around the center hole, but repeated playing has not misshapen
the hole. There may be some very light ring wear or discoloration, but it
should be barely noticeable.
VG+
covers should have only minor wear. A VG+ cover might have some very minor seam
wear or a split (less than one inch long) at the bottom, the most vulnerable
location. Also, a VG+ cover may have some defacing, such as a cut-out marking.
Covers with cut-out markings can never be considered Near Mint.
Very Good
(VG)
Many of
the imperfections found on a VG+ record are more obvious on a VG record. That
said, VG records — which usually sell for no more than 25 percent of a NM
record — are among the biggest bargains in record collecting, because most of
the “big money” goes for more perfect copies. For many listeners, a VG record
or sleeve will be worth the money.
VG
records have more obvious flaws than their counterparts in better shape. They
lack most of the original gloss found on factory-fresh records. Groove wear is
evident on sight, as are light scratches deep enough to feel with a fingernail.
When played, a VG record has surface noise, and some scratches may be audible,
especially in soft passages and during a song’s intro and ending. But the noise
will not overpower the music otherwise.
Minor
writing, tape or a sticker can detract from the label. Many collectors who have
jukeboxes will use VG records in them and not think twice. They remain a fine
listening experience, just not the same as if it were in better shape.
VG covers
will have many signs of human handling. Ring wear in the middle or along the
edges of the cover where the edge of a record would reside, is obvious, though
not overwhelming. Some more creases might be visible. Seam splitting will be
more obvious; it may appear on all three sides, though it won’t be obvious upon
looking. Someone might have written or it or stamped a price tag on it, too.
Good (G),
Good Plus
(G+)
or Very
Good Minus (VG–)
These
records go for 10 to 15 percent of the Near Mint value, if you are lucky.
Good does
not mean bad! The record still plays through without skipping, so it can serve
as filler until something better comes along. But it has significant surface
noise and groove wear, and the label is worn, with significant ring wear, heavy
writing, or obvious damage caused by someone trying to remove tape or stickers
and failing miserably. A Good to VG– cover has ring wear to the point of
distraction, has seam splits obvious on sight and may have even heavier
writing, such as, for example, huge radio station letters written across the
front to deter theft.
If the
item is common, it’s probably better to pass it up. But if you’ve been seeking
it for a long time, get it cheap and look to upgrade.
POOR (P)
and Fair
(F)
Poor (P)
and Fair (F) records go for 0 to 5 percent of the Near Mint value, if they go
at all. More likely, they end up going in the trash. Records are cracked,
impossibly warped, or skip and/or repeat when an attempt is made to play them.
Covers are so heavily damaged that you almost want to cry.
Only the
most outrageously rare items ever sell for more than a few cents in this
condition — again, if they sell at all.
Sealed
Albums
Still-sealed
albums can — and do — bring even higher prices than listed.
However,
one must be careful when paying a premium for sealed LPs of any kind for
several reasons:
1. They
may have been re-sealed;
2. The
records might not be in Near Mint condition;
3. The
record inside might not be the original pressing or the most desirable
pressing;
4. Most
bizarre of all, the wrong record might be inside. I’ve had this happen to me; I
opened a sealed album by one MCA artist only to find a record by a different
MCA artist inside! Fortunately, I didn’t pay a lot for that sealed LP. I would
have been quite upset if I had!
Imports
The
Goldmine® Record Album Price Guide lists only those vinyl LPs manufactured in
the United States or, in a few instances, manufactured in other countries, but
specifically for release in the United States. Any record that fits the
following criteria is an import, and you won’t find it in the price guide:
• LPs on
the Parlophone label by any artist, at least before 2000. Parlophone, best
known as the Beatles’ British label, was not used as a label in the United
States until very recently.
• LPs
that have the letters “BIEM,” “GEMA” or “MAPL” on them.
• LPs
that say anywhere on the label or cover, “Made in Canada,” “Made in the UK,”
“Made in Germany,” etc.
We have
chosen not to list records from Great Britain, Canada, Japan or any other
nation for logistical reasons. Where do you start, and where do you stop?
Unfortunately,
we realize that there is a lack of reliable information on the value of
non-U.S. records, especially published in the United States. Please don’t
contact us seeking information on non-U.S. records; we cannot help.
Also
unfortunately, there are few general rules about the value of an import as
compared to an American edition.
Some
import albums, especially well-made Japanese imports that still have their “obi
strip,” can go for more than the U.S. counterpart. Others seem to attract
little interest in the States.
One rule
is just as true of imports as it is with U.S. records: Those discs that are
originals in the best condition will sell for more than reissues and those in
less than top-notch shape.
Promotional
Copies
Basically,
a promotional record is any copy of a record not meant for retail sale.
Different labels identify these in different ways: The most common method on
LPs is to use a white label instead of the regular-color label and/or to add
words such as the following:
“Demonstration
— Not for Sale”
“Audition
Record”
“For
Radio-TV Use Only”
“Promotional
Copy”
Some
labels, of course, used colors other than white; still others used the same
labels as their stock copies, but added a promotional disclaimer to the label.
Most
promotional albums have the same catalog number as the regular release, except
for those differences.
Sometimes,
regular stock copies have a “Demonstration — Not for Sale” or “Promo” rubber
stamped on the cover; these are known as “designate promos” and are not of the
same cachet as true promotional records. Treat these as stock copies that have
been defaced. Exceptions are noted in the listings.
All of
this is mentioned as a means of identification. As a rule, we do not list
promotional records separately, nor are we interested in doing so. There are
exceptions, which we will list below. But we feel that the precious space in
our guides is better used for unique commercially available records rather than
for thousands upon thousands of promotional copies.
Most
promotional LPs sell for approximately the same as a stock copy of the same
catalog number. That has been our experience.
However,
there are certain exceptions. Those are the kinds of promos that you’ll find
documented in our price guide, and which we plan to continue to document. These
include:
Colored
vinyl promos.
Promos in
special numbering series, such as Columbia albums with an “AS” or “CAS” prefix;
Warner Bros, albums with a “PRO” or “PRO-A-” prefix; Capitol albums with a
“PRO” or “SPRO” prefix; Mercury albums with an “MK” prefix; and other similar
series on other labels.
Promos
that are somehow different than the released versions, either because of
changes in the cover or changes in the music between the promo LP and the
regular-stock LP.
Promos
pressed on special high-quality vinyl; these were popular in the 1980s and can
bring a premium above stock copies of the same titles.
