VERY FINE (VFN)
Very slight wear beginning to show around the staples and stress points owing to the comic being opened and read (carefully) two or three times and stored away with some care. For American comics, most of the cover lustre still remains and for British comics the cover should be flat, uniform creamy or off-white with only a few very minor stress creases at the spine. For American comics, only the tiniest spine wear at the top or bottom but no cover marks, no tears, no prominent creases (perhaps 2mm and quite hard to spot). The pages can be creamy or off-white but in no way yellowing and with no darker page edges. For Very Fine, think simply Very Sharp.
NEAR MINT (NM)
Almost perfect, almost as new, with white or off-white pages. Tight, flat and clean with only extremely light wear around an edge or a staple. At first glance you might think it is Mint but a second, closer inspection may reveal a tiny imperfection. The pages should be uniform in colour with no discernible edge difference. No staple rust. Near Mint really does mean near to mint condition. For American comics, a discreet UK pence stamp is permissible. For British comics, a neat, newsagent name (ideally in pencil) written at the top is permissible.
Grading information and pictures provided by Duncan McAlpine from www.comicpriceguide.co.uk