25 Céntimos Valverde de Júcar

Valverde del Júcar is a small municipality in the interior of Cuenca province, and like hundreds of similar towns across Republican Spain in 1937, it resorted to locally produced cardboard emergency currency after the Civil War severed normal coin supply chains. The Banco de España had suspended fractional coin distribution to much of the Republican zone by mid-conflict, leaving municipal councils to improvise. Cardboard issues from villages of this size were typically produced in tiny runs, often on whatever printing stock was at hand, and survival rates are poor — the material deteriorates badly with humidity, and most circulated pieces were simply discarded once the crisis passed.