0.25 Pesetas Chella

Chella is a small municipality in Valencia's comarca of Canal de Navarrés, and like hundreds of Spanish towns during the Civil War, it issued its own fractional emergency currency when the Republic's small-denomination coinage effectively vanished from circulation — hoarded, melted, or simply swallowed by wartime disruption. These local issues, collectively catalogued under the *billetes de necesidad* category, were authorised under a framework that gave municipalities extraordinary latitude to print their own money with almost no oversight of design, quantity, or paper quality.

The thick card stock is characteristic of many Valencian municipal issues of 1937, where proper banknote paper was unavailable and printers worked with whatever stock they had.