As a owner of a Duo from the year they came to America, I can say quite loudly, HOLY FUCK DISC ROT SUCKED!
It was mostly CDs with the silver tops you had to worry about. But then again, printed CDs may have it, you just couldn't SEE it as well. It's caused by the oxidation of the reflective substrate, and was mostly caused by scratches on the top layer of the CD. if the scratch reached the reflective layer, it would "rust", but since it's so thin, there was nothing left after the rust. I've had old CDs turn almost completely clear. It can also happen when air gets in between the layers when the disk is made, but that has a limited amount of damage it can do, since it runs out of air. If you have a tiny scratch that reaches the layer though, air can keep getting in, causing more to vanish, so you have a blob of clear on a CD.
I'm pretty sure most newer CDs are thicker that original ones, with more added behind the reflective surface; I've tried measuring them with calipers before, but cant remember if I saw any difference or not. And whole disk labels also help protect from scratched.
Since they have no reflective layer, you can see them in the sun just fine, hold the back of the disk up to the sun, you should see light. HOWEVER, if there's printed label on the other side in that spot, it'll block the sun. You may see a colored dot, maybe not.
If the CD is silver, like old TG-16 or Sega CD, check it up to a light. PSX is must more rare, generally do to label damage. Lots of people say DC had it, never seen it there, same with Saturn. But any scratch that reaches the metal reflective layer will cause this.
Also, most of the systems that have to worry about this, the Duo and Sega CD, the majority of the CD is CD audio. So the game will generally still play just fine, but the audio will skip. For duo's, it's the second track, and sometimes the last track, that hold the data, everything else is audio that doesn't matter. Really bad audio skipping can lock up some games, depending on the code though, since the sample never "finishes". Dragon Slayer for me is an example, on my bad CD, it just sits there after the audio skips.