1 Peseta Villanueva de Castellón

Villanueva de Castellón is a small agricultural municipality in Valencia, and like hundreds of Spanish Republican towns during the Civil War, it resorted to issuing its own emergency fractional currency when the central government could no longer supply adequate small change. The Consejo Municipal issues of 1937–38 were a practical response to hoarding and the near-total disappearance of coins from circulation — silver had been melted or hidden, and copper and brass coinage simply vanished from daily commerce.

The Gari Montserrat catalogue documents over two thousand such local issues from across Republican Spain, which gives some sense of how atomized monetary administration had become by 1938. Most of these municipal notes were redeemed or destroyed after the war; Valencia province fell to Nationalist forces in late July 1938, which sharply cut off the practical lifespan of anything issued from this area that year.