25 Céntimos Caldes de Malavella

Caldes de Malavella is a small spa town in Girona province, and like hundreds of Catalan municipalities during the Civil War, its ajuntament issued fractional paper currency in 1937 to address the acute shortage of small coinage — silver and copper had vanished from circulation almost entirely by mid-war. These local emergency issues, catalogued collectively under the Turró reference system, were legal only within the issuing municipality's boundaries.

At this scale of local issue, survival rates are erratic. Notes from minor Catalan towns were rarely saved systematically, and many were redeemed or simply discarded once the Nationalist administration invalidated Republican-era municipal currency after 1939.