1 Peseta Pozo Amargo

Pozo Amargo is a small municipality in the province of Cuenca, Castile–La Mancha, and like hundreds of similar Spanish towns it issued its own emergency fractional currency during the Civil War years of 1936–39, when small-denomination coinage vanished almost entirely from circulation. These locally produced notes — collectively called billetes de necesidad or vales — were authorized at the municipal level under Republican-zone emergency provisions, with no standardized format and wildly varying production quality. The Gari Montosa catalogue documents over a thousand such issuers, and many entries remain unconfirmed for denomination completeness.

The sole security feature here is an official stamp — a rubber or wax impression applied by the municipal council to distinguish valid notes from informal forgeries, itself a measure that says much about the economic desperation driving these issues.