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25 Céntimos Miguel Esteban

Issuer Ayuntamiento Constitucional de Miguel Esteban (Toledo)
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Currency Peseta (1936-1939)
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Obverse description Plain card stock note printed entirely in black letterpress, with the issuer's name in bold uppercase across the top two lines, underlined by a ruled border separating it from the denomination statement. A circular red ink stamp of the municipal authority is applied over the centre of the note. The redemption clause in smaller type appears at the foot.
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Reverse description Unprinted card stock reverse bearing a manuscript authorisation signature applied in red ink across the upper portion, accompanied by a small red ink rectangular grid pattern stamp in the lower left quadrant serving as an additional validation mark.
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Comments

Miguel Esteban is a small agricultural municipality in La Mancha, and like hundreds of similarly modest Spanish townships, its ayuntamiento issued emergency fractional currency during the Civil War when Republican-zone small change effectively vanished from circulation after 1936. The copper and silver coinage that would have handled transactions of this size had been hoarded, melted, or simply disappeared into the chaos of wartime supply collapse.

The Gari Mon cataloguing places this piece firmly in the locally-issued municipal cartón category — improvised, often printed on whatever card stock the town secretary had at hand. Survival rates for these provincial emissions are erratic; small-town issues saw hard daily use in local commerce and few were preserved.

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