5 Pesetas Fraga

Fraga is a small town in Huesca province, Aragon, and like dozens of other Republican-held municipalities during the Civil War, its local antifascist committee took over economic administration in 1936 when the banking system effectively collapsed behind the front lines. These committee-issued notes — known collectively as "billetes de necesidad" or emergency money — were produced by whichever printing resources were locally available, which accounts for the heavy card stock. The CNT-dominated collectives in Aragon were particularly prolific issuers.

The Gari Monetary catalogue documents hundreds of such local emissions, and the Fraga series is among the less commonly encountered Aragonese examples.