25 Céntimos Almadenejos

Almadenejos is a small municipality in Ciudad Real province, sitting on the edge of the Alcudia Valley in Castile-La Mancha. During the Civil War, Republican-held communities throughout Spain were forced to issue their own emergency paper fractions — the so-called "billetes locales" or "moneda de necesidad" — because small-denomination coinage had effectively vanished from circulation by mid-1937, hoarded or melted as the war ground on.

Almadenejos' issue is among the more obscure in the Gari Moneda catalog. The thick card stock construction was typical of municipalities without access to proper banknote paper; many such notes were printed by local offices on whatever stiff stock was available. Survival rates for these village-level emissions vary enormously — low original print runs and wartime disruption account for most losses.