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The SNP defining R-L165/S68 was discovered in 2007 by Jim Wilson of Ethno Ancestry. It was originally thought to be a "Private SNP", but later found in another individual with a different surname and haplotype; Ethno Ancestry designates the SNP as S68. FTDNA found the same SNP independently in 2010 and initially thought it to be "Private" until more unrelated samples showed up. The FTDNA designation for this mutation is L165.
Later in 2010 it was discovered that the two designations actually refer to the same SNP. ISOGG convention in these cases is to to list them alphabetically regardless of which was discovered first. The ISOGG designation is therefore R-L165/S68.
Europedia lists the origin of this SNP at about 3,500 years before present. They show the most prevalent ancient group to be Germanic; however there has been considerable discussion on this matter.