I have a book in which the Heb. date hides behind the phrase:

Va-YeHY H ET YOSeF  <Va-yehi H. et Yosef>
(Vav-Yod-He-Yod   He   Alef-Tav   Yod-Vav-Samekh-Feh)  =  593

The He after the first name stands for Adonai (Ha-shem).

According to reliable bibliographical sources, the value of H. is not 5 but  the value of the four letter Y-H-V-H (i.e. 26) = 614

I would transcribe it in the 260 as:  |c 593 [i.e. 614, 1853 or 1854]

How would you transcribe it and how would you explain it in a note?

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Answer:

We should forthrightly translate the chronogram as what it stood for, and put "614" in the 260 field without ever mentioning "593."  Then I would move on to other things, and several years later somebody would challenge me, and I would triumphantly explain my reasoning.  Because I would have forgotten my reasoning by then, I would be glad that I had made a note to myself about it somewhere.

Iy you can make a "cataloger's note" in OCLC--field 952, perhaps?--then you can put this kind of information.  That's probably the best place to put it.