1 Peseta Villanueva de Alcolea

Villanueva de Alcolea is a small municipality in Castellón province, and like dozens of similarly sized towns across Republican Spain in 1937, it issued its own emergency fractional currency after the Civil War disrupted the national coin supply almost entirely. The hoarding of metal coinage — silver and copper alike — was acute enough that municipal councils were formally authorized under Republican decree to print local substitutes, though "authorized" often meant little more than tolerated after the fact.

The Gari Morera catalog documents well over a thousand such issues. This one is among the smallest physically produced anywhere in the conflict.