1 Peseta Picón

Picón is a small municipality in the province of Ciudad Real, Castilla-La Mancha. During the Spanish Civil War, the Republican zone suffered an acute shortage of small-denomination coinage — silver and copper had been hoarded or melted — forcing hundreds of local councils (ayuntamientos and consejos municipales) to print their own emergency fractional currency. These local issues, collectively called "billetes locales" or "moneda de necesidad," were authorised under the broader framework of Republican emergency monetary measures but were essentially improvised at the municipal level, often on whatever card stock was available.

The Gari reference number is unassigned, which places this among the lesser-documented Castilian issues — probably printed in very small quantities for a population that would have numbered only in the hundreds.