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Comics are graded using both descriptive categories and a 0-10 rating system. If your comic is in flawless or nearly flawless condition, it might merit a grade of "mint" or "near mint." This condition applies to perfectly flat comics with supple paper, a glossy cover, and no obvious wear.  "Mint" grades include "Perfect/Gem Mint" (10.0) and "Mint" (9.9). These describe comics that have no detectable imperfections. A 10.0 book is absolutely perfect in every way. Very few comics meet this criteria, even those still sitting on the shelves in a comic store.  "Near Mint+/Mint" grades include "Near Mint/Mint" (9.8) and "Near Mint+" (9.6). These grades describe comics that have only the slightest wear. A small number of stress lines and very slight discoloration are acceptable defects. Most people would consider these to be perfect, but the trained eye may notice tiny imperfections. "Near Mint" (9.4) and "Near Mint-" (9.2) describe comics that have minimal stress lines and discoloration. The spine and cover are flat. The cover may have a small amount of surface wear, but the colors are still bright. A 9.4 Near Mint book is the standard condition of a new book sold at a comic store as is considered "new" condition. A 9.2 indicates only the very minor wear, typically a minimal stress mark on the spine (non-color breaking) or other similar marks. A comic which is well preserved but not "mint" is typically described as "Fine" or "Very Fine." These are comics that have been read and enjoyed, but with care. They may have some discoloration, but pages should still be supple and the cover should still be glossy and attractive.  "Very Fine/Near Mint" (9.0), "Very Fine+" (8.5), "Very Fine" (8.0), and "Very Fine-" (7.5) are grades that allow for some wear, as they have typically been read a few times. A few stress lines are acceptable. While the cover can have some wear, it should still retain its original glossiness. "Fine" grades include "Fine/Very Fine" (7.0), "Fine+" (6.5), "Fine" (6.0), and "Fine-" (5.5). These grades describe comics with a fair amount of stress lines and creases. A low number of small tears and missing pieces, usually 1/8 to 1/4 inch (about 3.1 to 6.3 mm) in length is also acceptable at this grade level. Below "Fine" is the grade of "Good." This is somewhat deceptive, as a grade of "good" is actually not particularly good, but more like average. These are comics that have been well-loved by a reader. Still, books in this condition must be intact and readable.  "Very Good" grades include "Very Good/Fine" (5.0), "Very Good+" (4.5), "Very Good" (4.0), and "Very Good-" (3.5). These grades describe a comic that has all of its pages but is noticeably creased, rolled, and scuffed. Missing pieces on the cover can be as large as 1/4 to 1/2 inch (about 6.3 to 12.5 mm). "Good" grades include "Good/Very Good" (3.0), "Good+" (2.5), "Good" (2.0), and "Good-" (1.8). These grades describe comics that are in somewhat worse condition than the "Very Good" grades. The cover may have some missing pieces and the book is generally scuffed, abraded, and faded. Moderate spine split is permissible. The comic still has all of its pages, however. A "Fair" condition comic is ragged and unattractive. It may have pieces of pages missing that make the story more difficult to follow (e.g. clipped coupons that cut into panels on the reverse side of the page).  "Fair" grades include "Fair/Good" (1.5) and "Fair" (1.0). These grades describe comics that are worn and in general disarray. Despite their condition, they still retain all of the pages and most of the covers. These comics may be torn, stained, faded, and brittle. "Poor" comics are what the name suggests--heavily damaged. They may be defaced, torn, stained, or have missing chunks. "Incomplete" comics are those missing covers or pages.  "Poor" (0.5) describes comic books that are missing pages and up to 1/3 of the cover. The comic may be brittle and defaced by other materials such as paint and glue. Some people will not grade a comic missing it's cover, but some give "Incomplete" comics a score between 0.1 and 0.3. If you have a comic that is extremely rare, you may wish to consider having it graded professionally. This allows you to speak confidently about it's condition in any setting, such as negotiations about pricing.  If you plan to have a comic professionally sealed (or "slabbed"), a professional grading is recommended, since any potential buyers will not be able to open the comic and assess it for themselves. Professional graders included the Certified Guarantee Company (CGC) and Professional Grading Experts (PGX).
Consider a "Mint" grade. Assess whether it might deserve a "Fine" grade. Determine whether it might merit a "Good" grade. Consider a "Fair" grade. Give a "Poor" or "Incomplete" grade if necessary. Look into professional grading.