25 Céntimos Mula

Mula is a small municipality in the Murcia region of southeastern Spain. Like hundreds of Spanish towns during the Civil War, it issued its own emergency fractional paper currency in 1937 when Republican-controlled areas faced a severe shortage of metallic coinage — silver and copper had largely disappeared from circulation through hoarding and wartime disruption. These locally produced notes, collectively known as billetes locales or moneda de necesidad, were authorized under Republican decree but designed, printed, and backed entirely at the municipal level, with wildly varying quality and longevity.

Mula's issues are among the more obscure Murcian examples catalogued by Gari. Survival rates for small-municipality Spanish Civil War fractionals are unpredictable — some series were recalled and pulped within months of issue, others simply stopped circulating when the war ended.