25 Décimas Calaceite

Calaceite is a small town in the Bajo Aragón region of Teruel province, and like dozens of similar municipalities, it organized collective economic life under CNT principles following the July 1936 anarchist revolution. These local collectivity notes — often called "moneda de emergencia" or simply "vales" — were issued to manage internal exchange when Republican-zone currency became scarce or was deliberately bypassed in favor of collectivized distribution systems. The CNT-affiliated collectives of Aragón were among the most extensive and theoretically coherent of any in the Republican zone, dissolved by force in August 1937 when Communist-aligned troops under Enrique Líster dismantled the Aragonese Council of Defence.

The timing matters: this note was issued and almost certainly withdrawn within the same calendar year, which compresses its circulation window to a matter of months at most.