These are not common even in messed-up condition.  Mintage this year of 984,634.  

At NGC this is the only one of these in any details grade.  There are two in "graded" grades, both mint state at NGC.  There are none certified in any condition at PCGS.

From 1896 to 1942 these were struck in the same style and composition.  This year, 1916, is one of the few years with a mintage under 1,000,000, including 1899, 1908, 1914, 1931, 1936, and 1941

Copper-nickel

Years 1896-1942
Value 20 Centavos (0.20 ARM)
Currency Peso moneda nacional (1881-1969)
Composition Copper-nickel
Weight 4 g
Diameter 21 mm
Thickness 1.3 mm
Shape Round
Orientation Coin alignment ↑↓
Demonetized 01-01-1943
References KM# 36, CJ# 52-89, Schön# 39