25 Céntimos Algemesí

Algemesí is a small agricultural town in Valencia, and like hundreds of other Republican municipalities during the Civil War, it issued its own emergency paper money in 1937 when the central government's coinage effectively disappeared from circulation — hoarded, melted, or simply absent. These local emissions were authorized under a Republican decree permitting municipalities to fill the fractional currency void, but in practice the quality, quantity, and redemption guarantees varied enormously from one town to the next.

Catalan and Valencian municipal notes from this period survive in wildly uneven numbers. Algemesí's issues are not among the rarer ones, but the 25 céntimos denomination saw the heaviest day-to-day use and shows it.