25 Pesetas Fraga

Fraga, a small town in Aragon, was one of hundreds of Spanish municipalities that issued its own emergency paper currency during the Civil War after the collapse of normal coin circulation in 1936. The Comité Popular Antifascista — the local anarchist-influenced revolutionary committee — effectively assumed administrative control and produced these notes to keep local commerce functioning. Denominations at this level were purely practical instruments, filling the gap left by hoarded or requisitioned coinage.

Local production meant no professional printer, no security features, and significant variation between surviving examples.