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Tom - I'm definitely not an expert, but that may be a 'struck-through' error. It doesn't really look like PMD to me. I'm assuming there's no deformation on the back?
Hi, what you have is what is known as a "lamination" error. It occurs when the coin is struck with foreign material on the planchet, leaving an imprint where the material is. Since it is such a large lamination error, I would estimate it to be worth somewhere in the $20 range, but I really don't know error prices. Nice find man!
CC
It does appear to be a lam. Unfortunately your definition is incorrect. It isn't caused by foreign material. It is simply a poorly formed planchet. What you described is a strike through.