25 Céntimos Mont-roig

Mont-roig del Camp was a tiny Catalan municipality with a wartime population of a few thousand, yet like hundreds of Spanish Republican towns during the Civil War it was forced to issue its own fractional paper currency after metallic coin essentially vanished from circulation by 1936–37. These locally printed emergency notes — known collectively as paper moneda — were authorized under the Generalitat de Catalunya's decree of June 1937, which gave municipalities legal cover to issue denominations below one peseta.

Turró catalogues over 1,600 such issues; this one, numbered 1602, sits near the outer edge of that survey. Short print runs and purely local circulation mean survival rates are low — not because examples were carefully preserved, but because most were simply discarded once the emergency issues were demonetized.