25 Céntimos Espolla

Espolla is a small village in the Alt Empordà comarca of Catalonia, a few kilometers from the French border. Like hundreds of Catalan and Spanish municipalities during the Civil War, its local government issued emergency fractional currency in 1937 to compensate for the near-total disappearance of small coin from circulation — hoarding and metal requisitions had stripped everyday commerce of anything usable for change. These municipal notes, collectively known as paper moneda local, were produced with whatever printing resources were locally available, which accounts for the thick card stock construction rather than conventional banknote paper.

Turró catalogued over a thousand such issues; Espolla's 25 céntimos piece is among the more obscure, from a commune whose wartime population numbered in the hundreds.