1 Peseta Estopiñán

Spanish Civil War-era municipal emergency money — "billetes de necesidad" — was issued by hundreds of towns and villages when coin shortages made small transactions nearly impossible. Estopiñán, a small municipality in the Lleida province of Catalonia, was among the many local authorities that stepped in to fill the gap left by the collapse of normal monetary circulation after July 1936. These notes carried no backing beyond local trust and the authority of the stamp pressed into them at the ayuntamiento.

The municipal stamp is the only security feature because none other was practical. Counterfeiting a note redeemable only within one small town was rarely worth the effort.