25 Céntimos Corral de Calatrava

Corral de Calatrava is a small municipality in Ciudad Real province, and this 25 céntimos note is a product of the Republican zone's acute small-change crisis of 1936–37. With silver coinage hoarded or melted and the central government unable to supply sufficient fractional currency to rural areas, hundreds of Spanish municipalities took it upon themselves to print emergency issues locally — often on whatever card stock was available, which accounts for the heavier substrate seen here.

Catalogued under Gari's regional emergency coinage reference rather than the standard Pick or Muntaner series, notes like this one were strictly local in acceptance and typically redeemed or discarded once the crisis eased.