25 Céntimos Malgrat

One of hundreds of locally issued emergency fractional notes — billetes de necesidad — printed by Catalan municipalities during the Civil War after metallic coinage effectively vanished from circulation. Malgrat, a small coastal town north of Barcelona, issued its own scrip when the Republican government proved unable to supply sufficient small change to the provinces. These municipal emissions were technically unauthorized at the national level but tolerated out of necessity.

Turró catalogues this as a single-denomination issue, suggesting Malgrat's emission program was minimal — likely a short print run that saw heavy local use before being rendered obsolete by the Generalitat's own fractional currency efforts later in 1937.