25 Céntimos Pacheco

Pacheco is a small municipality in the Region of Murcia, and like hundreds of Spanish towns, it issued its own emergency fractional currency during the Civil War after the Republic's metal coinage disappeared from circulation almost entirely by late 1936. These local issues — often printed on whatever paper stock was available, sometimes even cut from larger sheets by hand — were authorised by municipal supply committees, the consejerías, rather than by any banking authority. The Conserjería de Abastecimientos was specifically a rationing and supply body, which tells you something about the economic desperation behind the issue.

Gari Mon coverage of Murcia province local notes is the primary reference; mainstream Pick catalogues largely ignore this material.