Before the revaluation of the peso, that coin was worth 3.333 cents. When revaluation occurred, the exchange rate was roughly 3000 pesos to the dollar, so they just took 3 zeros off. The coinage was demonetized at revaluation
You couldn't give the $100 coin away if you tried. Now, way back when, when I was a starving college student, I would buy the old 1 peso coins by the bag, and sell them to other students at 10 for a buck. They worked great in the laundry machines on campus, and off....
I hated having pockets of those bleeping $100's. They're heavy, and people loved to give you piles of 'em in change.
I just checked. The peso traded at 3119.15 pesos to the dollar on the day before revaluation.