1 Peseta Ráfol de Almunia

Ráfol de Almunia is a small municipality in the comarca of El Comtat, Valencia — a village of a few hundred inhabitants that, like dozens of comparable Valencian towns, resorted to printing its own emergency fractional currency during the Civil War after Republican Spain's chronic shortage of small-denomination coinage became operationally unworkable. These municipal issues, collectively known as "moneda local," were authorized under the Republic but executed with wildly varying degrees of craft and official oversight. A village council issuing its own pesetas was not extraordinary in 1937; the sheer number of issuing bodies across Republican territory was.

The Gari catalogue distinguishes a "-B" variant, suggesting at least two discrete printings or paper stocks exist for this denomination — worth verifying against the specific serial, if present.