1 Peseta Cervera del Llano

Cervera del Llano is a small municipality in the province of Cuenca, and like hundreds of similarly sized Spanish towns, its ayuntamiento issued emergency fractional paper money during the Civil War after the Republican government's decree of 1937 effectively sanctioned local currency production to address the chronic shortage of small coin. These municipal emissions were never centrally coordinated, which is why the cataloguing of them — Gari Montalvo being the primary reference — remains an ongoing scholarly exercise.

Provincial Cuenca notes of this type are among the less-documented in the series. Survival rates are unpredictable; many were redeemed and destroyed locally, others simply discarded once the war ended and Nationalist peseta issues took over.