25 Céntimos Floreal del Raspeig

Floreal del Raspeig — now simply called Floreal, a district of Sant Vicent del Raspeig in Alicante province — was one of hundreds of Spanish municipalities that issued emergency fractional paper during the Civil War after Republican Spain's small-change coinage effectively vanished from circulation by mid-1936. Hoarding, melting, and the collapse of normal commerce stripped the country of centavo coins almost overnight, forcing local authorities, trade unions, and cooperatives to print their own substitutes.

The Garicoin reference is incomplete, which isn't unusual — a substantial number of these hyper-local Valencian Community emissions were produced in tiny quantities and survive in only a handful of examples, making systematic cataloging difficult.