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How I grade surplus parts

New, old stock or Like New Condition

Not previously sold at retail or issued. In the same working condition as it came from the factory. However, if its sealed in plastic, there could be hidden  moisture/rust, no matter if it was made a week ago or 50 years ago. I have seen both new and old stock with rusty items inside, due to moisture sealed in. I do my best to look for that, but if packaging blocks view of contents I cannot see what is inside.
Bore should be in new condition, if it's is visible and not filled with grease and grime. Bores may be packed with grease, making it impossible to grade condition of bore and/or other parts.

Excellent

80-90% blue remaining, very little if any marring of the wood. Bores clean without pitting, if bore is visible and not filled with grease and grime. Bores may be packed with grease, making it impossible to grade condition of bore and/or other parts.. Complete and in working condition.

Very Good

50-80% of blue remaining, minor dings in wood from handling and use. Bores clean without pitting, if bore is visible and not filled with grease and grime. Bores may be packed with grease, making it impossible to grade condition of bore and/or other parts.. Complete and in working condition. May have some surface rust.

Good

25-50% blue remaining, stocks marred (several dings in wood) bores slightly worn and dark, no corrosion that will interfere with proper functioning. Complete and in working condition. Will liklely have some rust from years of use

Fair

Very little, if any, blue remaining. Rough bores unless otherwise indicated, wood heavily marred. ~May require adjustment or replacement of parts. Metal can be pitted. Must be inspected by a competent gunsmith prior to shooting. Failure to do so may result in bodily injury or property damage.

Poor

Major and minor replacement parts required and extensive restoration needed, metal can be pitted, principal lettering design obliterated, wood badly scratched or bruised, mechanically inoperative. Product is for sale to be used for parts or display value only.

XI, VI, GI, FI Condition

Items shall be missing minor parts or may have a minor functioning issue.

PI Condition 

Items shall be missing or have a defective major component such as a stock, barrel, bolt or receiver.