In large bowl, combine miso and sherry. Add scallops and coat evenly. Let marinate for 15 minutes. Heat a large cast iron (or nonstick) fry pan over high heat until very hot. Add oil to pan. Carefully place scallops in hot pan in a single layer. Sear until light golden brown, about 1 minute, and turn. Sear until crisp and golden brown on second side and center springs back when touched (2-3 minutes). Place on serving platter and serve immediately.
Note: We plan to try wrapping the edge of the scallops in prosciutto and placing two or three scallops on wooden skewers prior to cooking. A note will be added to the recipe once we try this idea.