25 Céntimos San Carlos del Valle

San Carlos del Valle is a small municipality in the province of Ciudad Real, Castilla-La Mancha. Like hundreds of Spanish towns, it issued its own small-denomination emergency paper during the Civil War after Republican decree authorized local authorities to print fractional currency to offset the near-total disappearance of coinage from circulation by late 1936. The thick card stock used here was a practical response to that shortage — proper banknote paper was not available to rural municipalities.

Gari's cataloguing of this as Mon#1301-A suggests at least one variant exists, though documentation on individual municipal emissions from this region remains fragmentary.