Here is the Basic Breakdown on My Grading; Taking into a count eBays new grading standards.
Brand New: ONLY in original sealed Mailer
LIKE NEW:This Can Not have a mailing label, typically this is something purchased directly from the newsstand and stored away I will not list anything as Like New with a mailing label
Very Good (VG) This can have a mailing label but appear Like New.
Good (G) This is where I have decided a Large portion of the magazine inventory falls into, your magazine may have some wear to cover either by storage or by simple reading. No loose or missing pages, No water damage, this will be a very readable clean copy Even Framable.
Acceptable: this will be a readable copy, with all defects listed such as part or all of a page is missing,cover or spine seperation .