1 Peseta Saldes

Saldes is a small mountain municipality in the Berguedà comarca of Catalonia, with a population that barely exceeded a few hundred during the Civil War. The note was issued under the Republican emergency decree of June 1937 that authorized Catalan municipalities to produce their own fractional currency — moneda local — to compensate for the acute shortage of small-denomination coin caused by hoarding and wartime disruption to the Mint.

Turró catalogues over two thousand such issues, and the Saldes peseta sits near the end of that sequence, meaning it was among the later municipal emissions before the practice was curtailed. Survival rates for small-town issues like this are low: print runs were tiny, redemption was chaotic, and many notes were simply lost or discarded when the Republic collapsed in 1939.