1 Peseta Mislata

Mislata is a small municipality immediately west of Valencia, and like dozens of similar towns across the Republican zone, its local council issued emergency fractional currency in 1937 to address the acute shortage of small change that had paralyzed retail trade from the first months of the Civil War. The hoarding of coins — copper, silver, anything metallic — forced municipalities into the printing business whether they had any business being there or not.

Casa Farinetti was a Valencia commercial printer with no particular pedigree in security printing, which is exactly who these councils hired. The notes circulated only within Mislata and were worthless anywhere else.