Vinyl
Generally worth 10-15% of the Near Mint value. A record in Good or Good Plus condition can be played through without skipping. But it will have significant surface noise, scratches, and visible groove wear. A cover or sleeve will have seam splits, especially at the bottom or on the spine. Tape, writing, ring wear, or other defects will be present. While the record will be playable without skipping, noticeable surface noise and "ticks" will almost certainly accompany the playback.
CD
There are a lot of scuffs/scratches. However it will still play through without problems. This has not been handled with much care at all.
Insert/Inlay/Booklet/Sleeve/Digipak: Well worn, marked, more obvious indentations, fading, writing, than a VG - possibly a more significant tear/rip.
Cassette
Sleeve will be well worn, marked, and contain obvious indentations, fading, and/or writing, more so than a VG grade - possibly a more significant tear/rip. Tape will have heavy wear on shell. Felt stopper may be missing. Tape may have minor creasing, but not broken. Must play through, may have heavier degradation that will overpower music.