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| 正面铭文 | Colectividad de La Portellada (Teruel) Esta Colectividad reconoce a favor del portador 1 Peseta Emisión 1937 No es válido sin el sello al dorso (Translation: Collectivity of La Portellada (Teruel) This Collectivity recognizes in favor of the bearer 1 Peseta Issue 1937 Not valid without the stamp on the back) |
| 背面描述 | The reverse shows a blind letterpress impression of the obverse design showing through the thin paper stock, with no intentional printing. A validation handstamp was to be applied to this side to authenticate the note for circulation, as indicated by the obverse legend. |
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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.