1 Peseta Fontanares

Fontanares dels Alforins is a small wine-producing municipality in Valencia, and this 1937 peseta note is one of hundreds of tiny emergency issues produced by Spanish towns during the Civil War after the Republic's central government effectively lost control of the small-denomination coin supply. With copper and nickel being diverted for the war effort, municipalities were authorized — and in many cases simply forced by necessity — to print their own fractional currency to keep local commerce moving.

The Turró and Garicatalogues both document this type, but surviving examples from minor Valencian municipalities tend to appear infrequently in auction. Fontanares issued very limited quantities, and attrition was high — these notes were never meant to outlast the war.