0.10 Pesetas Llosa de Ranes

Llosa de Ranes is a small municipality in Valencia, and this 10-céntimo piece belongs to the vast wave of locally-issued emergency fractional currency that flooded Republican-held Spain during the Civil War. With the peseta hoarded and metal coinage effectively vanished from daily commerce, municipal councils across the Valencia region were forced to print their own substitutes — often on whatever card stock was at hand. The thick substrate here was a practical choice, not an aesthetic one; thin paper disintegrated quickly in pocket and purse.

Turró and Garicano both catalogue this type, reflecting how thoroughly these local emissions have been documented despite their humble origins. Survival rate is low — most circulated hard and briefly before being rendered worthless.