1 Peseta Vara de Rey

Vara de Rey is a small Castilian municipality in the province of Cuenca, and its wartime emergency scrip belongs to a category of hyper-local fiduciary paper that proliferated across Republican Spain from 1936 onward as silver and copper coinage disappeared into hoarding and the Madrid government struggled to push emergency fractional currency into the provinces. Thousands of ayuntamientos printed their own — most on whatever card stock or paper was at hand — and the majority circulated only within the issuing village, redeemable in theory at the municipal treasury.

The Gari Montaner reference confirms authentication within the Spanish Civil War local issues corpus, where forgeries and fantasy items are a genuine collector hazard for smaller municipalities like this one.