Mint – Hardly any signs of wear, looks brand new. You might find this with deadstock.
Excellent– Normal signs of wear for expected for age, but pretty near perfect.
Great – Shows normal signs of wear expected for age. Still wearable with some minor noticable problems.
Good – Has obvious signs of wear, structurally intact. Visible issues could be fixed to improve condition.
Study/Fair – Not suitable for wearing but offers historical/fashion interest. Use for study or repurposing.