Somebody thinks that they have an "error" variety on their hands. Considering how chewed-up the coin is, it looks like PMD to me, but who knows? In any case, I don't think there would be a market for errors in this series at $150 USD: http://www.ebay.com/itm/1970-197-C-...446592?hash=item4d4021eb80:g:EkMAAOSwQYZWz-EN
I especially like the way he tried to get around the limitations placed on him by the English alphabet when trying to explain, in print, what kind of "error" he's got: Missing dies error ( 1970 > 197C ) ( O > C ) Now if that missing part of the '0' were on the left side, he would have been pretty hard-pressed, huh?
In all honesty, Korean and Japanese error coins are quite hard to come by. This also includes greased dies, off center, clashed dies etc. I don't remember having in my collection other than one misaligned die each from both Korea and Japan which were struck 100+ years ago.
This is also my experience. I haven't been collecting Korean and Japanese contemporary coins for decades and decades, but from what I can tell so far, there really are not many errors to be had for collectors. I've seen 500 Won rotated dies, a 1970 Silver Proof set with a couple of coins that had doubled legends and rotated dies (they weren't made in Korea anyway), and I own a 1969 1Won die crack error, myself. But, yeah, there really aren't many to be had. I don't think I've ever seen a contemporary Japanese coin error.