Book collecting can be easy and inexpensive: there are millions of new and used books, and thousands of bookstores. Only the wealthiest book collectors pursue the great rarities: the Gutenberg Bible, and Shakespeare's First Folio, for example, are both famous and extremely valuable. Collectors of average means may collect works by a favorite author, first editions of modern authors, or books on a given subject. Book prices generally depend on the demand for a given book, the number of copies available, and their condition.
Booksellers use standard terms to describe the condition of the used books that they sell. The specific meaning of each term can vary with the individual seller but broad definitions are widely understood.
“As New” means that the book is in the state that it should have been in when it left the publisher. This is the equivalent of Mint condition in numismatics.
Fine
(F or FN) is As New but allowing for the normal effects of time on an
unused book that has been protected. A fine book shows no damage.
Very Good (VG) describes a book that is worn but untorn. For many collectors this is the minimum acceptable condition for all but the rarest items.
Good (G) is (as an old bookselling joke has it) not very good. It is used to describes the condition of an average used worn book that is complete.
Fair shows wear and tear but all the text pages and illustrations or maps are present. It may lack endpapers, half title, and even the title page.
Poor describes a book that has the complete text but is so damaged that it is only of interest to a buyer who seeks a reading copy. If the damage renders the text illegible then the book is not even poor.
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