0.25 Pesetas Gandía

One of hundreds of local emergency notes printed across Republican-held Spain during the Civil War, this quarter-peseta from Gandía reflects the near-total collapse of small coinage in circulation by 1937. The Republican government's silver pesetas were being hoarded aggressively, and municipal councils throughout the Valencian region were left to improvise their own fractional currency just to keep markets functioning.

Gandía's Consejo Municipal issued these notes under the same legal framework — Decree of August 1936 — that authorized local authorities to fill the void. Most were redeemed or destroyed when central Republican treasury notes eventually filtered back into the region.