0.25 Pesetas Caudete de las Fuentes

Caudete de las Fuentes is a village in Valencia province with a population that barely exceeded 1,500 during the 1930s. Like hundreds of other small Republican municipalities during the Spanish Civil War, it resorted to issuing its own fractional emergency scrip in 1937 when small-denomination coinage vanished entirely from circulation — hoarded, melted, or simply absent in rural areas cut off from normal banking supply chains. These locally authorized emergency notes are collectively catalogued under the Spanish term billetes locales de necesidad.

At 60 × 40 mm and printed on card stock with only an official stamp as authentication, this quarter-peseta piece is about as minimal as emergency currency gets. The Turró and Garicatalogue references confirm its legitimacy, but surviving examples are predictably scarce — small-town wartime scrip was rarely preserved once the crisis passed.