1 Peseta Malpartida de la Serena

Malpartida de la Serena is a small municipality in the province of Badajoz, Extremadura, and this note is a product of the Republican zone's acute small-change crisis of 1936–37. When the central government's coinage effectively vanished from circulation — hoarded, melted, or simply absent in rural areas — hundreds of Spanish municipalities issued their own emergency paper, the so-called "billetes locales." The Consejo Municipal here exercised that improvised authority with no backing infrastructure whatsoever.

The Gari Monerris catalogue reference places this firmly within the documented Extremaduran local emissions, though surviving examples from villages of this size are disproportionately scarce — small runs, hard use, and postwar confiscations saw to that.