25 Céntimos Constantí

Constantí is a small municipality just north of Tarragona, and like hundreds of Catalan and Spanish towns during the Civil War, its local council issued its own fractional paper currency after the hoarding of metal coinage created acute change shortages in 1936–37. These municipal emissions — authorized under Republican emergency provisions — were never legal tender beyond their issuing locality, which is precisely why survival rates vary so dramatically: once the war ended badly for the Republic, most were simply discarded or destroyed.

Turró catalogues over a thousand such local issues from Catalonia alone. Constantí's entry is among the more obscure.