25 Céntimos Real de Montroy

Real de Montroy is a small municipality in the Valencia province, and like hundreds of similarly sized Spanish towns it issued its own fractional emergency currency during the Civil War after the Republic's small-denomination coinage disappeared almost entirely from circulation. The Consejo Municipal series of 1937 was a purely local stop-gap, printed — if "printed" is even the right word for some of these — on whatever card or heavy stock was at hand.

Turró and Gari catalogue these separately, which suggests at least minor variants exist within the type. Worth examining the stock closely: thickness and surface texture sometimes differ between confirmed examples.