Collectors use a lot of terminology and abbreviations. When discussing an item between collectors, these terms help communicate quickly what condition an item is in. Knowing what they mean is important, especially when buying sight unseen.
Understanding these terms is especially important between buyers and sellers. Remember “good” condition to non-collectors means something completely different to collectors. A good condition item means a middle of the road condition to collectors, usually with a lot of visible flaws. A non-collector may see a “good” condition item as having very few flaws. Knowing who you’re dealing with is key to good communication. If you ever have any doubt as to the true condition of an item, don’t be afraid to ask!
Here are some common condition terms:
NWT – New with Tags – Product is in new condition and has original tags
MIB – Mint in Box – Product is in Mint condition and includes original box
IB – In Box – Product is not in Mint condition, but includes original box
MIP – Mint in Package – Product is in original packaging.
MOC – Mint on Card – Product is on its original card.
MINT – Product is in new condition. May show some minor handling signs, but nothing to detract from value
EXCELLENT – has some wear or signs of use, but nothing major
VERY GOOD – shows evidence of wear clearly, but still a nice looking piece
GOOD – obvious wear from time and handling. Good as a filler piece, or the less picky collector
FAIR – cracks, chips, folds or bends detract from the value and the display quality
POOR – good for spare parts, restoration, or everyday usage. A noncollectable piece