10 Céntimos Montoro

Montoro is a small municipality in the province of Córdoba, and like hundreds of Spanish towns it resorted to locally issued emergency fractional currency during the Civil War years when Republican-zone small change effectively collapsed. These tiny municipal notes — often printed on whatever stock was available, sometimes by local printers with no banknote experience — filled the gap left by hoarded coins. The Gari catalogue documents enormous variation in paper quality, ink color, and overprint placement within a single municipality's issues, and Montoro is no exception.

At 45 × 32 mm, this is among the smallest paper money issued in Spain's municipal series. Survival is partly a function of size — they were easily lost, discarded, or destroyed.