Nope, I'm not sure it's a "C"... but I see what you mean from the hangy hole... but it would hafta be a "g" as opposed to a "G" because a "G" would be like backwards/mirror imaged. I almost got a little disoriented spinning my head and thinking. 
But I've been looking at/for counter, chop, cut, punch marks/stamps and nothing really looks at all like this... or that large. I agree with the love token idea... but most I've seen totally carve away one face of the coin... but if I ever made such a token, it would probably look similar
I also think it's pretty nifty and still somewhat recognizable. Whenever it arrives I'll hafta get some sorta bizarre holder thing going. 
But I've been looking at/for counter, chop, cut, punch marks/stamps and nothing really looks at all like this... or that large. I agree with the love token idea... but most I've seen totally carve away one face of the coin... but if I ever made such a token, it would probably look similar




















