The fine size fraction of the lunar regolith (less than 1 mm mean particle diameter) is composed mostly of particles that owe their origins either directly or indirectly to the impacts of meteoroids on the lunar surface. Comminution of pre-existing rocks and particles is the dominant process affecting the characteristics of the regolith. However, agglutination of pre-existing particles by the glassy, molten spatter and ejecta from small meteoroid impacts is a competing constructive process of low efficiency. Grain size frequency distributions of the less than 1 mm fraction of the regolith tend to be slightly bimodal, with a broad mode in the 1-40 size range (500- 62.5 pm due mostly to agglutination and another mode at approximately 50 (31.3 pm) and finer that appears to be caused by the ballistic influx of fine particles from older (finer) regolith. In general, the size frequency distribution curves are nearly symmetrical and indicate poor to very poor sorting. There is a strong correlation of sample mean grain size (and other size parameters) with the length of time that the regolith has had to accumulate at each landing site. The greater the total length of regolith accumulation time, the greater the comminution by meteoroids, and hence the finer the sample mean grain size and the greater the total agglutinate content. These properties also correlate positively with solar wind implanted carbon and nitrogen contents. Thus, sample mean size, agglutinate content, solar wind nitrogen and carbon, as well as solar particle track densities, can all be used as measures of regolith ‘maturity’. Local sample collection site geology, such as proximity to boulders or recent craters, strongly influences sample modal particle type populations and grain size characteristics. Lunar chondrules of several types have been identified in the regolith and rock samples. Many of these chondrules have textures that are identical with many meteoritic chondrules. The chondrules in lunar surface materials appear to result from lunar impact processes. It may be that chondrules have originated in many meteorites by some of the same processes. If true, this occurrence has important implications for the origin and history of chondritic meteorites.