1 Peseta Castillo de Locubín

Castillo de Locubín is a small municipality in Jaén province, Andalusia, and like hundreds of similar Spanish towns it issued its own emergency paper fractional currency during the Civil War — the result of a near-total collapse in coin availability after 1936, when silver and copper were hoarded or melted. The Consejo Municipal issues were purely local instruments, accepted only within the town's own commercial orbit and backed by nothing beyond whatever credibility the local council could muster.

These municipal vales from rural Andalusia survive in small quantities, partly because production runs were modest and partly because the Republican zone where Jaén sat was eventually overrun, disrupting any orderly redemption.