There is a collector demand, not everyone wants or can afford high grade coins. It's worth about $45 retail. There is a collector for every grade of coin, and Mexico is popular with collectors. When I don't feel like spending $100 on a high grade Peso, I'll spend $40 on one like this if I like it.
The mint is the Culiacan mint, you can tell by the Ca mint mark left of the date. The JQ to the right of the date is the Assayer initials. Mexico had a system at the mints where the Assayer vouched for the coinage silver content throughout the minting process.
There are collectors who just want to get a coin from each mint, about a dozen, some quite scarce, for whatever years are available or a certain year they select. Mo, Mexico City, is the common mint, then in increasing scarcity through the others.
Culiacan is in Sinaloa state on the west coast. Hermosillo, in Sonora to the north, also had a mint. Others are Jalisco, Chihuahua, San Luis Potosi, Guadalajara, Guanuato, Durango, and so forth. Mint marks are, in order, Cn, Ho, Ja, Ca, SP, Ga, Go, Du, and so forth, with lots of variation over the years.