25 Céntimos Villar de Olalla

Villar de Olalla is a small municipality in Cuenca province, Castilla-La Mancha. This 25 céntimos note is a product of the Spanish Civil War's fractional currency crisis — by 1937, Republican-held territory was hemorrhaging small coins through hoarding and wartime disruption, forcing hundreds of local councils, many of them tiny villages, to print their own emergency scrip under varying degrees of legal authorization. The Consejo Municipal issues were technically sanctioned by the Republic but practically ungoverned in design and quality.

The sole security measure is an official municipal stamp — the kind pressed into the paper by a clerk, not a printer.