1 Peseta Real de Gandía

Real de Gandía is a small municipality in Valencia, and this 1 Peseta note is one of the hundreds of emergency local issues that flooded Republican-held Spain during the Civil War after metallic coins effectively vanished from circulation by mid-1937. The Consejo Municipal — a wartime administrative body replacing the pre-war ayuntamiento structure — issued these on its own authority, as the Republican central government had neither the logistical capacity nor the political leverage to supply adequate small change to every Valencian town.

The thick card stock was a deliberate choice: thinner paper deteriorated rapidly in daily handling, and municipal treasuries could not afford reprinting runs. Survival rates for these hyper-local issues vary wildly, with many series known from only a handful of specimens.