1 Peseta Palomar

Palomar is a small municipality in Valencia province, and this note is one of hundreds of emergency fractional issues produced by Valencian town councils during the Republican zone's acute coin shortage of 1937. The Consejo Municipal — the locally-controlled wartime governing body — issued these as purely functional stopgaps when the front lines and supply disruptions had stripped small change almost entirely from daily commerce.

At 50 × 40 mm, this is among the smallest paper issues of the Civil War period. The Turró and Gari catalogues document it as genuinely scarce, with very few examples having survived the postwar years.