25 Céntimos Alcorisa

Alcorisa is a small municipality in Teruel province, Aragon. Like hundreds of Spanish towns during the Civil War, it resorted to issuing its own emergency scrip after the Republican government's inability to maintain adequate small-denomination coinage circulation in the early months of the conflict. These local emissions — often printed on whatever materials were available — were technically illegal under existing monetary law but tolerated out of necessity.

Teruel province saw some of the war's most brutal fighting, and many municipal scrip issues from the region were destroyed, lost, or simply never redeemed. Survival rates for Alcorisa pieces are accordingly low.