1 Peseta Cervera del Maestre

Cervera del Maestre is a small hilltop village in Castellón province, and like hundreds of other Spanish Republican municipalities in 1937, its town council issued its own fractional currency when coin circulation collapsed entirely during the Civil War. These hyper-local emissions — sometimes running to just a few hundred pieces — were produced with whatever printing resources were locally available, which for most small pueblos meant very little.

The Garrió Montagut catalog reference places this within the vast, poorly-documented world of Catalan and Valencian wartime municipal paper. Survival rates for issues from villages this size tend to be low simply because the issuing population was small and redemption, where it happened at all, was chaotic.