25 Céntimos Villanueva de Córdoba

Villanueva de Córdoba is a small municipality in the northern Sierra Morena foothills of Córdoba province. Notes like this one emerged from the acute small-change shortage that paralyzed Republican-held towns across Spain from mid-1936 onward — the hoarding of metal coinage at the outbreak of the Civil War forced hundreds of local councils to print emergency fractions, most in tiny runs, often on whatever paper was available. Municipal authority to issue was, strictly speaking, improvised rather than legal.

The Garrido Monedas reference gap signals this piece sits outside the documented mainstream, likely issued in very limited quantities and surviving in few hands.