NEW (NW)
EXCELLENT (EX)
Some manufacturers of traps (B&L for one) had a reputation of stamping pans very lightly, or in some cases the die did not get a square hit on the pan, causing only half of the pan to be readable. Some collectors grade differently than others on this, but this should be noted when selling the trap.
FINE (FN)
VERY GOOD (VG)
GOOD (G)
FAIR (F)
POOR (P)