1 Peseta Peñalba

Peñalba is a small municipality in the province of Huesca, Aragon. This note belongs to the enormous wave of locally issued emergency paper that flooded Republican-held Spain during the Civil War, when the withdrawal and hoarding of metallic coinage created a near-total breakdown of small change in towns and villages. Municipal councils, cooperatives, and even individual businesses printed their own fractional currency — often on whatever card or paper was available — because the alternative was a barter economy at the village level.

The official stamp is the only authentication device, which was typical for these rural emissions and did little to prevent copying. Gari's cataloguing of this piece as Mon#1097-D suggests variant classification within the Peñalba issues, likely a paper or stamp color distinction.