Everything is done in batches. The pool is one huge wallet and when it reaches a certain amount of coins they are sent to an exchange (Bittrex, Yobit or Poloniex), sold then return to the pool as the new coin.
You can keep track of it here as it can take many hours:
https://miningpoolhub.com/?page=account&action=balancesPS. Coins in the credited column are never sent to the exchange.
Coins in brackets are unconfirmed, right?
By the way - do you know what could be a reason with big discrepancy which I described above?
Bad pool luck? As I see miningpoolhub is second the largest pool for Monacoin with 0.9gh/s (first is suprnova with 1.5gh/s).
Luck shouldn't be for us so aggressive, but even assuming that case, on that pool we should earn more coins because tyhere are less miners to divide earnings ebtween them.