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Message:: [QUOTE="Hobo, post: 1160648, member: 11521"]Your assumption is not valid because he (Chris) did not submit 50 coins at random; he searched through 1,000 coins and submitted 50, of which 7 came back MS-68.    So 14% of his submission came back MS-68 (7 coins out of 50) and his submission represented 5% of the total coins searched (50 coins out of 1,000). You could then make the assumption that 14% of 5% of the coins that were searched are MS-68 - that would equate to 0.7% of the total coins searched. But I don't believe that assumption to be true (based on the NGC Pop Report). edit . . .  What percentage of the total mintage do you think were searched before the coins were placed into circulation? 10%? Not likely. 5%? I doubt it. I will venture to say that less than 2% of the total mintage was searched before the coins were placed into circulation.  Let's assume on the high side that 2% of the coins were searched and let's use the above assumption that 0.7% of the coins searched will grade MS-68. That equates to 0.014% of the total mintage grading MS-68 (1/1000th of your original assumption).[/QUOTE]