1 Peseta Ibi

The Municipality of Ibi, famous for its toy industry, is one of the few Valencian towns that issued local metallic currency to alleviate the lack of divisional currency. In the session of June 24, 1937, the Municipal Council agreed to mint 1 Peseta (KM#2; TurróPV#833) coins for the amount of 10,000 pesetas. As there were no smaller divisional values, in the session of November 2, 1937, the minting of 25 Centimos (KM#1.2; TurróPV#834) coins was approved for a quantity of 10,000 pieces, that is, 2,500 pesetas. In this first issue, the obverse presents the map of Spain in relief in the background. The quantity issued was not sufficient, since these coins were also used by the inhabitants of adjacent municipalities, so a new issue of 25 Centimos (KM#1.1; TurróPV#835) coins had to be made for an amount of 2,500 pesetas (10,000 pieces), this time without the map of Spain in the background. There are two variants of this new issue (see variants). Obeying orders from the Central Government of Spain, the Municipal Council ordered, on February 28, 1938, the withdrawal and exchange of all coins through the local branch of the Bank of Industry and Commerce.