2 Pesetas Dénia

Dénia is a small coastal town in Valencia, and like hundreds of Spanish municipalities it began issuing its own emergency paper money within weeks of the July 1936 military uprising. The central Republican government had effectively lost control of small-denomination coinage — hoarding and flight capital had stripped it from circulation almost immediately — so local councils, trade unions, and cooperatives filled the gap themselves. The legal basis was thin at best.

Municipal issues from this corner of Valencia are modestly documented in Gari's catalog but rarely surface in quantity. Dénia's notes circulated in an extremely restricted local zone.