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| 正面描述 | Typeset letterpress note printed in reddish-brown ink on plain cream paper, enclosed within a decorative rectangular border composed of repeating circular and geometric ornamental elements. The issuing authority "Consejo Municipal de Castellote" appears in large serif lettering across the upper field, above a central denomination cartouche — a rounded-rectangle frame formed by a dotted rule — enclosing the value "UNA Peseta" in bold display type. A handwritten serial number appears to the right of the denomination cartouche, with the authorization text and a manuscript signature of the President occupying the lower portion of the note. |
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| 正面铭文 | Consejo Municipal de Castellote UNA Peseta Acuerdo de la Comisión Gestora de fecha 5 Sbre. de 1937. El Presidente, (Translation: Municipal Council of Castellote / One Peseta / Agreement of the Managing Commission dated September 5, 1937. / The President,) |
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Castellote is a small fortified town in Teruel province, Aragon — territory that changed hands repeatedly and violently during the Spanish Civil War. Municipal councils throughout the Republican zone were authorized to issue local emergency currency (known as "moneda de guerra" or war money) from 1936 onward, as the disruption to normal banking made small-denomination coin effectively disappear from circulation. Hundreds of town councils issued their own paper, and quality ranged wildly.
Teruel province saw some of the war's most brutal fighting; the Battle of Teruel in late 1937 into 1938 would eventually bring the entire region under Nationalist control, rendering notes like this one worthless overnight.