1 Peseta Granátula

Granátula de Calatrava, a small Manchegan municipality in Ciudad Real province, issued its own emergency fractional currency during the Republican zone's acute small-change crisis of 1936–37. With the Civil War disrupting coin supply and the central government slow to provide replacements, hundreds of Spanish towns — particularly in Castile-La Mancha — printed their own local vales. The Consejo Municipal issues from villages of this size were rarely produced in large quantities, and many survive only in single-digit numbers.

The thick card stock was a deliberate choice at this scale: smaller municipalities lacked access to proper banknote paper and used whatever the local printer had on hand.