1 Peseta Ráfales

Ráfales is a small Aragonese village — its 1937 population barely reached a few hundred — yet like dozens of similarly sized Republican municipalities during the Spanish Civil War, it issued its own emergency paper currency when the coin shortage became acute. The flight of metallic money from circulation after July 1936 was rapid and near-total, forcing local councils, cooperatives, and even individual businesses across the Republican zone to print their own scrip simply to make change.

The Gari Monseny catalogue reference remains unassigned, suggesting this piece was either unknown to the compilers or surfaced after the relevant edition closed.