1 Peseta Benatae

Benatae is a small municipality in the Sierra de Segura, Jaén province. During the Spanish Civil War, acute coin shortages — partly caused by hoarding, partly by the Republican government's inability to maintain metal circulation in rural areas — forced hundreds of local councils and supply committees across loyalist-held Spain to issue their own emergency paper. The Comisión de Abastos, essentially a local rationing and supply authority, had no formal banking mandate; these notes were instruments of necessity, not monetary policy.

The official stamp was the sole guarantee of validity — without it, the note was worthless paper. Forgery was less the concern than acceptance outside the issuing village.