1 Peseta Sagra

Sagra is a small municipality in the province of Alicante, and like hundreds of Spanish towns during the Civil War, its local council issued emergency fractional currency in 1937 to plug the near-total absence of small-denomination coinage. Republican-zone hoarding and metal requisitions had stripped everyday commerce of its working change, forcing even villages with no banking infrastructure to print their own.

The Gari Montserrat cataloguing of these municipal emissions remains the primary reference, and survivorship is genuinely uneven — some village issues are known from a single example, others turned up in bulk lots decades later, never having circulated at all.