1 Peseta Benifayó

Benifayó is a small municipality in Valencia's Ribera Alta comarca, and like hundreds of Spanish towns it issued its own emergency paper money during the summer and autumn of 1936 as the Civil War severed normal banking functions and fractional coinage vanished almost overnight into hoarding. These local issues — known collectively as "moneda de necessitat" or emergency municipal currency — were authorized under varying degrees of official sanction, and many were printed by whatever local means were available.

The Turró catalogue remains the primary reference for Valencian municipal issues, and the PV prefix denotes the País Valencià regional classification. Cross-referencing with Gari confirms authenticity more reliably than either source alone.