1 Peseta Alcolea de Cinca

Alcolea de Cinca is a small municipality in Huesca province, Aragon — deep in Republican-held territory during the early phase of the Civil War. This note is a product of the acute small-change crisis of 1936–37, when hoarding stripped coins from circulation almost overnight. Hundreds of Spanish municipalities responded by printing their own emergency fractional paper, with virtually no central oversight and extremely limited print runs.

The only security measure was a local official stamp — the same rubber or metal die used on municipal documents. Forgery was rarely the concern; these notes almost never circulated beyond the village that issued them.