Loot:
The most likely goal a hunter is entering a dungeon is to retrieve loot. Whether it's simply materia gems or better weapons and other gear, Loot is categorized similarly to dungeons.
Common Loot: Materia gems worth 5p or less make up all of this rarity.
Uncommon loot: Materia gems worth more than 5p but less than 15 belong in this ranking.
Rare Loot: Finally we get to things that aren't just materia gems. In this ranking are the first sets of gear. Things like armor cloth, some weapons or magic items. Items in this ranking erode faster than those of higher rankings.
Mythic Loot: Weapons and magic items of the highest value. Hard to find and even harder to obtain, these items don't erode as fast as lesser ranked items. Items here can be found with materia gems already embedded in them.