0.25 Pesetas La Carolina

La Carolina, a small mining town in the Sierra Morena of Jaén province, issued fractional emergency currency during the Civil War period when metallic coin had effectively vanished from circulation. These ayuntamiento-issued fractional notes — known collectively as billetes locales or moneda de necesidad — proliferated across Republican-held Spain from 1936 onward, each municipality solving the small-change crisis on its own terms. The official stamp served as the primary authentication device, a practical necessity when sophisticated security printing was simply unavailable.

Gari Mon cataloging of this series suggests limited survival rates; most were redeemed or destroyed within their issuing municipality and never traveled far.