1 Peseta Fernancaballero

Fernancaballero is a small municipality in Ciudad Real province, Castilla-La Mancha. This note dates from the Civil War period when the Republican government's decree of late 1936 authorized local councils — ayuntamientos and similar bodies — to issue emergency fractional currency to offset the near-total disappearance of coinage from circulation. The hoarding and melting of silver and copper left towns across Republican-held territory without any means of making change, and hundreds of local issues flooded in to fill the gap.

The thick card stock construction is characteristic of many smaller municipal emissions, where access to proper banknote paper was simply unavailable. Most of these local issues were redeemed — or more often just abandoned — before the war ended.