25 Céntimos Alcolea de Cinca

Alcolea de Cinca is a small municipality in the Huesca province of Aragon, and like hundreds of Spanish towns during the Civil War, it issued its own fractional paper currency when the Republic's small change effectively disappeared from circulation after July 1936. These cooperative-issued notes — technically vales or emergency scrip rather than banknotes in any formal sense — were produced locally and accepted only within the community that issued them. The Cooperativa Única was almost certainly a collectivized agricultural or consumer cooperative, the organizational form that dominated Aragonese village economies under anarchist influence during 1936–1938.