25 Céntimos Cárcer

Cárcer is a small municipality in Valencia province, and like hundreds of similar towns it resorted to locally produced emergency scrip during 1937 when the Republican government's coin shortage became acute. Copper and silver had effectively vanished from circulation — hoarded, melted, or simply exhausted — and the national authorities were slow to supply substitutes. Municipal councils across the Levante filled the gap themselves, with results ranging from rudimentary rubber-stamped card to reasonably professional printwork.

The official stamp is the only security measure, which was typical of the smallest issuing bodies. Forgery was rarely a concern at this scale; the notes functioned purely within the local economy and were worthless the moment you left the township.