1 Peseta Santiago de la Espada

Santiago de la Espada is a small mountain municipality in the northeastern corner of Jaén province, Andalusia. This note belongs to the vast category of Spanish Civil War emergency municipal issues — locally produced fractional currency that proliferated across Republican-held towns after the hoarding of coins gutted everyday commerce in the summer of 1936. The Generalísimo's Nationalist advance disrupted the Bank of Spain's supply chains, and hundreds of municipalities, some no larger than villages, printed their own solutions.

The Gari Montané catalogue remains the standard reference for these provincial issues precisely because no central registry was ever maintained. Many municipalities printed in tiny quantities; survival is largely accidental.