25 Céntimos Ulea

Ulea is a small municipality in the Segura river valley of Murcia, and like hundreds of similarly sized Spanish towns, it issued emergency fractional notes during the Civil War period when coinage essentially vanished from everyday commerce. These local municipal issues — known collectively as papel moneda local — were produced under desperate circumstances, often on whatever paper was available, with printing quality ranging from rudimentary to barely legible.

The Gari Mon catalogue is the standard reference for these issues, but survival rates for Ulea's notes are poorly documented, and the actual emission quantity is unknown.