0.05 Peseta Estopiñán

During the Spanish Civil War, hundreds of municipalities across Republican-held territory issued their own fractional emergency notes — paper money in denominations so small they would ordinarily never exist at all. Estopiñán, a small town in the Ribagorza region of Huesca province, was among them. These local emissions were authorized under the Republic's wartime economic disorder, filling the void left by hoarded coins that had vanished entirely from circulation by 1936–37.

Municipal issues from villages this size were produced in tiny quantities, often on whatever paper was available. Survival rates are low not because of heavy use but because almost nobody thought to save them.