antiqueguns.com: Tutorial: NRA Grading
Poor: Major and minor part replaced; major replacement parts required and extensive restoration needed; metal deeply pitted; principal lettering, numerals and design obliterated, wood badly scratched, bruised, cracked or broken;, mechanically inoperative; generally undesireable as a collectors firearm.
Fair: Some major parts replaced; minor replacement parts may be required; metal rusted, may be lightly pitted all over, vigorously cleaned or reblued; rounded edges of metal and wood; principal lettering, numerals and design on metal partly obliterated; wood scratched, bruised, cracked or repaired where broken; in fair working order or can be eaasily repaired and placed in working order.
Good: Some minor replacement parts; metal smoothly rusted or lightly pitted in places, cleaned or reblued; principal lettering, numerals and design on metal legible; wood refinished, scratched, bruised or minor cracks repaired; in good working order.
Very Good: All original parts; none to 30% original finish; original metal surfaces smooth with all edges sharp; clear lettering, numerals and design on metal; wood slightly scratched or bruised; bore disregarded for collectors firearms.
Fine: All original parts; over 30% original finish; sharp lettering, numerals and design on metal and wood; minor marks in wood; good bore.
Excellent: All original parts; over 80% original finish; sharp lettering, numerals and design on wood; unmarred wood; fine bore.
Factory New: All original parts; 100% original finish; in perfect condition in every respect, inside and out.
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Rob Robles