MIB stands for 'mint in box' — the holy grail condition for collectors of action figures, toys, vintage electronics, and pretty much anything that came in original packaging. If something is MIB, it has never been opened or used and the box itself is in great shape. It's the collector community's highest grade of preservation, and MIB items typically command the biggest premiums on resale. The opposite of that beat-up childhood toy you actually played with.
Just found a 1985 Transformer still MIB at an estate sale — it's going straight into the display case, not eBay.
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(initialism) mint in box.
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Regional slang from around the English-speaking world — British, Australian, Irish, Caribbean, Nigerian, Filipino, AAVE, and the hyphenated-English dialects that make the internet sound local.
See all Regional & Other slang on Slangora.