25 Céntimos Torrente de Cinca

Torrente de Cinca is a small municipality in Huesca, Aragon, and like hundreds of other Spanish towns it resorted to locally issued paper during the Civil War after the Republic's metal coinage effectively vanished from circulation — hoarded, melted, or simply unavailable in rural areas. These ayuntamiento emissions were technically emergency fractional currency, filling the gap left by the coin shortage that became acute from mid-1936 onward.

The official stamp is the sole security feature, which tells you everything about the improvised nature of the issue. Counterfeiting was a genuine concern, but the real vulnerability was acceptance — neighboring towns had no obligation to honor another municipality's paper.