25 Céntimos Cabra

Cabra del Santo Cristo is a small municipality in the sierra northeast of Granada, and like hundreds of Spanish towns in 1937, it issued its own fractional paper currency when Republican-zone silver and bronze coinage simply vanished from everyday transactions. These local emergency notes — known collectively as papel moneda local — were typically produced by whatever printer or office equipment was available in town, often resulting in rudimentary typography and uneven inking that makes no two examples quite identical.

The Republican government tolerated but never formally sanctioned most of these municipal issues. After 1939, all were rendered worthless by Francoist decree.