25 Céntimos Alamillo

Alamillo is a small municipality in the province of Ciudad Real, and like hundreds of similar towns across Republican Spain, it was forced to print its own fractional currency in 1937 after the hoarding of metallic coin — silver especially — created a near-total collapse of small-change circulation. These local emergency notes, collectively known as papel moneda municipal, were produced without any central oversight, which is why the quality of materials and execution varies so dramatically from town to town. Alamillo's thick card stock was a practical choice: it lasted longer in daily commerce than thin paper.

The Gari Montllor catalog remains the primary reference for this obscure branch of Spanish Civil War numismatics.