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| 正面铭文 | CONSEJO MUNICIPAL DE FAYÓN EMISIÓN 15 ENERO DE 1938 1 Pta. (Translation: Municipal Council of Fayón Issue January 15, 1938 1 Peseta) |
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| 背面铭文 | El Consejo Municipal de Fayón ha creado este Papel Moneda con el solo objeto de facilitar las transacciones dentro del Pueblo. Fayón a 15 de Enero de 1938. VALOR 1 Pta. (Translation: The Municipal Council of Fayón has created this Paper Money with the sole purpose of facilitating transactions within the Town. Fayón, January 15, 1938. Value 1 Peseta) |
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Fayón is a small municipality in Zaragoza province that found itself deep inside Republican-held territory during the Aragon front campaigns of 1937–38. Like dozens of Aragonese towns, its local council issued emergency paper scrip — "papel moneda local" — to address the near-total disappearance of small metallic coinage, which had been hoarded, melted, or simply lost to the disruption of war. These municipal emissions were technically unauthorized by the Republican treasury but were tolerated out of necessity.
The Gari Montserrat census remains the primary reference for Aragonese local issues, many of which survive in tiny quantities simply because the towns themselves were so small.