Watch List notes:

MEXICO. Mint Error -- Struck with Peso Planchet Within Outer Ring -- 20 Pesos, 2016-Mo. Mexico City Mint. ANACS AU-58.

KM-Unlisted (for regular issue). Encountered as a two-tiered bimetallic issue, this SCARCE error is instead a three-tier issue. Likely the central two rings started life as a Peso planchet and were inserted into the outer ring originally destined for this issue, creating the effect. How a Peso planchet came to rest in an improper place is truly anybody's guess. Perhaps even more captivating than the error is that ANACS does not even note it, instead certifying it as a regular issue. This is matched with an indisputably poor grade of AU-58, as this example never saw any circulation and does not display any evidence of contact.

Estimate: $200 - $300