1 Peseta Pozoblanco; replica

Pozoblanco was one of dozens of Republican-held municipalities that issued emergency small-change notes during the Spanish Civil War, when coin metal was hoarded and the central supply of low-denomination currency collapsed almost entirely. The original 1 Peseta note from the Consejo Municipal de Pozoblanco dates to that period. This 2003 piece is a commemorative replica, produced by the Fábrica Nacional de Moneda y Timbre — the same state printing works that handles Spain's official currency and security documents — which lends it a certain irony as a product of the very centralized authority the wartime municipals were forced to work around.

The watermark is a curious inclusion for a replica, suggesting the FNMT applied its standard security substrate rather than producing a simplified facsimile sheet.