Most collectors want their collectibles to be in good condition and to preserve them in as good condition as possible. The value of a collectible is directly linked to its condition, therefore it is also important to be able to evaluate it before buying or selling.

The following abbreviations are commonly used when describing the condition of an item:

         Mint (M)
         Near Mint (NM)
         Very Good (VG)
         Good (G)
         Fair (F)
         Poor (P)

Obviously most collector's would prefer their collection to include mainly Mint and Near Mint items, and would not want to include any Poor or even Fair condition items unless a better condition versions are totally unavailable. Note that truly Mint condition items are really rare, and that in some cases already the almost inevitable changes in the items appearance caused by the passing of time are enough to make the condition Near Mint instead of Mint.

Another set of abbreviations are the ones descriping the condition of the item and what is included in it. These abbreviations differ depending on the type of the item at hand.

          New in Box (NIB)
          Mint in Box (MIB)
          Mint on Card (MOC) (For example Action Figures)
          Complete in Box (CIB)
          Boxed (B)
          Loose with Manual (LM) (Games)
          Loose (L)

          Rental (R) (Games)
          Rental with Manual (RM) (Games)

          Shrinkwrapped (SW)
          Factory Sealed (FS)

Although handy, the abbreviations are best used in addition to a more extensive description. Make sure not to use any of the abbreviations unless you are sure you know what they mean and the item really matches the description. Also keep in mind that there are and always will be sellers who do not know what Mint or MIB really mean but use them anyway - therefore it is best not to stare at the abbreviations only but to inspect the item as well as possible and read trough the whole description before making a purchase.

In order to protect your collectible from time and wear there are a few steps you should take:

1) Keep collectibles away from direct sunlight. Bright light will make the colors fade  in the long run and may make some materials fragile.
2) Avoid storing collectibles in humid or extremely dry conditions.
3) Avoid places with extreme changes temperature, such as some attics and unheated warehouses.
4) Most importantly, avoid unnecessary handling. The more you play with an old, fragile item, the more likely it is to brake or just get dirty and worn. Decide if your item is a collectible or a toy!

Accordingly, probably the best place to store your collectibles would typically be in an airtight bag or container, in a box inside a closet of your house. Sounds boring? It is. Not all collectors want to hide their lovely collectibles - and that is perfectly fine too!