5 Pesetas Peñalba

Peñalba is a small municipality in the province of Huesca, Aragon. This note was issued by its municipal council during the Spanish Civil War, when the collapse of small-denomination coinage across Republican-held territory forced thousands of local governments — villages included — to print their own emergency currency. The Consejo Municipal had no access to professional printers; most of these issues were produced on whatever stock was at hand, which accounts for the heavier paper or card stock common to provincial Aragonese issues of this type.

The official stamp was the primary — sometimes only — authentication mechanism available. Without it, the note had no standing whatsoever.