1 Peseta Alarcón

Alarcón is a small Castilian town perched above the Júcar gorge, and its municipal council issued emergency fractional paper during the Civil War years when Republican Spain suffered an acute shortage of small change — metallic coinage had largely vanished into hoarding and melting. These locally issued notes (known as *papel moneda local* or *billetes de necesidad*) were produced by hundreds of municipalities across Republican-held territory from 1936 onward, each council improvising with whatever printing resources existed nearby.

The Gari Monetary catalogue reference places this firmly within the documented Cuenca provincial emissions, but surviving examples from Alarcón are genuinely uncommon — the town's wartime population was small, output was low, and very little was preserved after Nationalist forces took the area.