Excellence, n.
Etymology: [F. excellence, L. excellentia.]
1. The quality of being excellent; state of possessing good qualities in an eminent degree; exalted merit; superiority in virtue. Consider first that great Or bright infers not excellence. Milton.
2. An excellent or valuable quality; that by which any one excels or is eminent; a virtue. With every excellence refined. Beattie.
3. A title of honor or respect; -- more common in the form excellency. I do greet your excellence With letters of commission from the king. Shak.
Syn. -- Superiority; preëminence; perfection; worth; goodness; purity; greatness.
Shades of meaning
Fernald has no entry of its own for excellence; he lists it under virtue.
He lists it without comment; the entries above explain its neighbors.