Answer 1

This Key Item increases the likelihood that you will encounter Shiny Pokémon. When you have the item in your bag, then the chances of encountering Shiny Pokémon in the wild is increased to 300% of normal, making it a 1 in 2,370.6 chance. If, however, you're using the Masuda Method to breed, it increased it from 1 in 1,365.3 down to 1 in 1024.

--Serebii on Shining Charm

Comments

thnx! still cant believe i beat mew!

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your off by about 35,000 points. GG.

Answer 2

It is a 1/1024 chance to get a shiny.

Answer 3

If, however, you're using the Masuda Method to breed, it increased it from 1 in 1,365.3 down to 1 in 1024.

Source

Comments

i won! :P finally... :P