1 Peseta Ajofrín

Ajofrín is a small municipality in the province of Toledo, and like hundreds of Spanish towns it resorted to locally issued paper during the Civil War to address the chronic shortage of small-denomination metallic coinage that followed the Republican government's currency disruptions of 1936–1937. These municipal emergency notes — known collectively as papel moneda local — were typically authorized and printed at the town's own expense, often on whatever paper and press were available, which accounts for the considerable variation in quality across surviving examples of this series.

The Garrido Mora reference (Gari Mon#33-B) indicates a variant within the Ajofrín municipal issue, suggesting at least two distinct printings or types were catalogued for this denomination.