1 Peseta Novelda

Novelda is a small town in Alicante province, and like hundreds of Spanish municipalities during the Civil War, it issued its own emergency paper scrip when the Republic's central supply of small coin collapsed entirely. These local emissions — often called "billetes locales" or "moneda municipal" — were technically illegal under pre-war banking law but sanctioned by Republican necessity from 1936 onward. The Generalitat Valenciana had nominal oversight of emissions in its territory, though in practice each ayuntamiento operated with considerable autonomy.

Survival rates for Novelda issues are uneven. Many were redeemed locally and pulped; others survived in regional collections.