5 Centimos Barcelona; Ferrocarriles de Sarriá y Cataluña

Ferrocarriles de Sarriá y Cataluña was a suburban railway operator running lines between Barcelona and the towns northwest of the city. During the Civil War, the acute shortage of small change across Republican-held Spain triggered an explosion of emergency fractional currency — known as moneda de cartón or vales — issued not by banks but by municipalities, cooperatives, trade unions, and, as here, private companies with enough local footprint to make their paper trusted within a narrow geographic range. The railway simply needed to make change at ticket windows.

AL#1207 places this among the Allepuz catalogue of Catalan Civil War emergency issues, a field where counterfeits and later reproductions are not uncommon.