1 Peseta Villarreal

During the Spanish Civil War, scores of Republican municipalities issued their own emergency paper currency after the hoarding of coins — particularly copper and silver — created severe shortages in everyday transactions. Villarreal, a town in Castellón province, was firmly in Republican hands through much of the conflict, and its Consejo Municipal authorized this note under the same legal framework that permitted hundreds of similar local emissions across loyalist Spain.

The Gari Mon catalogue designation places this among the rarer municipal issues from the Valencia region. Two signatories appear: the Consejero de Hacienda and the Council President — a dual-authorization structure common to issues where local officials were anxious to project institutional legitimacy for what was, essentially, improvised money.