2 Pesetas Ulea

Ulea is a village in the Ricote Valley, Murcia — population never large, administrative capacity always limited. Like hundreds of Spanish municipalities during the Civil War, it issued emergency fractional currency when the Republic's small change dried up after July 1936. These local emissions, broadly collected under the umbrella of "billetes locales," were produced under improvised conditions, often by local printers with no specialized security printing experience.

The Garrido Montón reference confirms this as a catalogued piece, but Ulea's emissions remain genuinely obscure. Surviving examples are rarely encountered outside regional Spanish collections.