1 Peseta Elche

One of hundreds of local emergency issues produced across Republican-held Spain during the Civil War, this Elche municipal note filled a practical void created by the near-total disappearance of metallic coinage from circulation — hoarded, melted, or simply absent as the war disrupted normal monetary supply chains. Municipal councils across the Valencian region issued their own paper in 1936–37 with varying degrees of official sanction from the Republican government, which eventually moved to suppress the most irregular emissions.

The Gari Monovar catalogue reference places this within a documented local series, though survival rates for Elche municipals vary considerably by denomination and print run.