1 Peseta Pedralva

Pedralva is a small municipality in the Valencia region, and like hundreds of Spanish towns, it issued its own emergency paper money during the Civil War after the Republican government authorized local authorities to print fractional currency to address a catastrophic coin shortage. These municipal notes — collectively called "billetes de necesidad" — were produced under chaotic conditions, often by local print shops with no security printing experience whatsoever.

The Turró and Gari-Monerris catalogs between them document well over a thousand distinct Valencia-region issues, and Pedralva's entry is among the more obscure. Survival rates for these ultra-small-format local pieces are poor; the paper quality was low from the start.