0.25 Pesetas Noalejo

Noalejo is a small municipality in Jaén province, Andalusia, and like hundreds of similarly sized Spanish towns it resorted to issuing its own fractional emergency scrip during the Civil War years of 1936–1939, when Republican-controlled areas faced an acute shortage of small-denomination coinage. These hyper-local emissions were never intended for circulation beyond the issuing municipality — in practice, a few streets and a market square.

Survival rates for Noalejo scrip are low simply because so little was printed and the pieces were flimsy by nature. Thick card stock was the pragmatic choice when proper banknote paper was unavailable.