25 Céntimos Montoro

Montoro is a small municipality in the province of Córdoba, Andalusia. During the Spanish Civil War, the collapse of the official coinage supply — driven by hoarding, melting, and the general breakdown of the Republican monetary system — forced hundreds of municipalities to issue their own emergency fractional paper, known as papel moneda local. This 25 céntimos note is one such piece, almost certainly from 1936 or 1937.

At 45 × 32 mm, these municipal issues were printed under whatever local means were available — frequently a town printer with a simple press, no security features, and paper pulled from commercial stock. The Gari catalogue remains the principal reference for Spanish Civil War local issues; the Mon#962-E suffix indicates a specific variety within the Montoro sequence.