25 Céntimos Cortes de Baza

Cortes de Baza is a small municipality in Granada province, and like hundreds of similar towns across Republican-held Spain in 1937, its local council issued fractional emergency notes — "moneda municipal" — to address a near-total collapse of small coin in circulation. The hoarding and disappearance of metal coinage during the early war years forced this improvised response at the municipal level, with no central authorization beyond tacit tolerance from the Republican government.

The Garrido Moraga reference number being unassigned suggests this piece was either unknown to the cataloger at time of publication or has surfaced since. Specimens from minor Granadan municipalities at this denomination are genuinely uncommon.