1 Peseta Malagón

Malagón is a small municipality in the province of Ciudad Real, and like dozens of Castilian towns during the Civil War, its local council issued emergency small-change notes when coinage vanished almost entirely from circulation in 1936–37. The Republican government had authorized local bodies to fill the void, but oversight was thin and production methods varied wildly — hence the thick card stock, which many municipalities favored over flimsy paper when professional printing was unavailable.

The Gari Montllor census (the standard reference for Spanish Civil War local issues) places this among the rarer provincial emissions. The official stamp was the council's primary anti-counterfeiting measure — modest, but sufficient when the note's circulation radius was a single town.