25 Céntimos Alcudia de Carlet

Alcudia de Carlet is a small municipality in Valencia's Ribera Alta comarca, and like hundreds of other Republican-controlled towns during the Civil War, it issued its own emergency fractional currency in 1937 when the shortage of small coinage became acute. The central government's inability to maintain adequate coin supply forced municipalities across the Republican zone to print locally — this note is one product of that fiscal improvisation.

The thick card stock was a practical choice: flimsy paper wore out quickly in the hands of a working rural population. Gari Mon catalogues this as the sole 25 céntimos type for the issuer.