1 Peseta Calaf

Calaf is a small municipality in the Anoia region of Catalonia, and like hundreds of other Spanish towns, it resorted to printing its own emergency fractional currency during the Civil War after Republican decree authorized local authorities to issue small-denomination paper in 1937. The national coinage had effectively vanished — hoarded, melted, or simply stopped circulating — and the gap needed filling at the most basic transactional level.

The official stamp was the primary guarantee of validity; without it, a note was just printed paper. Turró catalogues over a thousand such local emissions, and Calaf's series are among the more modestly documented.