1 Peseta Almódovar del Campo

One of hundreds of emergency small-denomination notes — locally called vales or billetes locales — issued by Spanish commercial enterprises, cooperatives, and municipal bodies during the coin shortage that followed the outbreak of the Civil War in 1936. The Nationalist advance disrupted metal supplies and hoarding stripped fractional coinage from circulation almost immediately, forcing businesses to create their own scrip to make change.

The Electro Harinera-Panificadora was a flour mill and bakery operation — an issuer with direct leverage over a captive local public, since bread was not optional.