1 Peseta Frailes

Consejo Municipal de Frailes was one of dozens of Spanish municipalities that issued emergency fractional paper during the Civil War years, when hoarding and melting stripped small coinage from everyday transactions almost overnight. These local notes — broadly called "billetes de necesidad" — were authorized under a series of Republican government decrees beginning in 1936 that effectively deputized town councils to solve their own change shortages.

Frailes is a small village in the province of Jaén, Andalusia. Output from councils of this size was typically tiny, and survival rates for these lightweight emergency issues are low — they served a narrow local purpose and were rarely preserved once the crisis passed.