1 Peseta Peñíscola

Municipal emergency scrip of this kind flooded Republican-held Spain in 1936–37 as the central government's inability to supply sufficient small-denomination coinage forced hundreds of towns to print their own. Peñíscola's Alcaldía issued this peseta on its own authority — legally questionable even under wartime decree, but practically necessary. The thick card stock was a deliberate choice: paper wore out too quickly in daily market use, and municipalities that used thinner substrates found their scrip deteriorating within weeks.

The dry seal was the town's only available authentication device, and forgery of local scrip was common enough that some Valencian municipalities voided and reissued their series within months of first issue.