1 Peseta Archena

Archena is a small municipality in Murcia, and like hundreds of Spanish towns during the Civil War, its ayuntamiento issued emergency fractional currency when Republican-zone coinage disappeared almost entirely from circulation — hoarded, melted, or simply not produced in sufficient quantities. These locally printed pieces, known collectively as billetes locales, were a practical response to an acute small-change crisis rather than any assertion of local financial authority.

At under 50mm across, this is among the smallest paper money produced anywhere in Europe during the 1930s. The Gari Montlla cataloguing of Murcian civil war issues remains the principal reference for the series, and the 177-B suffix indicates a variant within the Archena 1 peseta emission — likely a printing or signature difference from the 177-A type.