2 Pesetas Corral de Almaguer

Corral de Almaguer is a small municipality in Toledo province, and like hundreds of Spanish towns during the Civil War, it issued its own emergency fractional currency in 1937 when Republican-zone coinage effectively disappeared from circulation — hoarded, melted, or simply absent. These municipal notes were produced entirely outside any central banking framework, typically by local print shops with whatever materials were to hand, which accounts for the card stock construction.

The Nationalist advance through Castilla-La Mancha made the operational life of most Toledo municipal emissions extremely short.