1 Peseta La Portellada

La Portellada is a small municipality in the Matarraña comarca of Aragon, and like hundreds of similar villages during the Spanish Civil War, it issued its own emergency scrip when the Republican government's coin supply collapsed after 1936. The Colectivitat — the local collectivized administration under anarchist or left-republican control — produced these notes to keep internal commerce moving when metallic currency had largely vanished from rural circulation.

The handstamp is the only security measure, applied to authenticate individual notes at the point of issue. Forgery was rarely a serious concern at this scale; the real vulnerability was the notes becoming worthless overnight if the military front shifted.