Question about grading

Grading of guns is VERY subjective and what one real expert would call a 98% gun, another would call a 95%.

The best advice I can offer is to buy a copy of the massive paperback "Blue Book of Gun Values" by S.P. Fjestad at most book stores or from Amazon.
The front section of the book has a tutorial on how to grade a gun.

With that said, your gun would be IN MY OPINION not a 98% gun, but whether it's even a 95% gun depends on exactly what "practically mint" is, which again, is an educated judgment call

Thank you. Let's say that mint means that the revolver is better than a 98%, and that 98% is based on the grading as explained by the BBoGV, including their illustration.
My question at the end is, how much % is the grade going to lose because of those spots?

I have read the descriptions in the books and the chart with the grid but it is at best vague and Ill bet if you put up a test gun, very few would come up with the same grading %.
There is no discussion on whether it is actuall surface area or flat projected area that % is "calculated" from. also if you have a gouge under the rear of the trigger guard does that count the same as a mark right on the side plate or a big scratch down to bare steel through the rampant colt or how about a spot of bluing loss vs a spot of rust.
To me, the % thing is just anyone's guess.

Based on what you describe, i think Id jusy say Gun is Beautiful or looks almost perfect except for the little spots as shown. Then show a lot of pics and let the buyer decide what he is willing to pay. He might think the spots are no big deal especially if he likes to take pics of the 2 sides of the gun only,or he might think OHH everytime I take aim i am going to see these ugly spots staring right at me.

I would say that gun rates no more than 90 %. Mint means never carried, never shot, never dropped, etc. NIB is also way over used.

Thank you guys. A lot of useful information and opinions.
The discussion, anyhow (and I am writing this because I understand I was not 100% clear), is not about trying to understand the value of a specific gun (or what mint means).
As Capstan has just said, abut BBoGV:

There is no discussion on whether it is actual surface area or flat projected area that % is "calculated" from. also if you have a gouge under the rear of the trigger guard does that count the same as a mark right on the side plate or a big scratch down to bare steel through the rampant colt or how about a spot of bluing loss vs a spot of rust.

Click to expand...

I specifically chose that picture because of this.

Its hard to tell on the DS's from just 1 side view each but, based upon those pics only,looks like I'd again stay away from % , id just say- Beautiful, or Excellent ,or Looks Mint, or looks New, or something to that effect.