5 Céntimos Falset

Falset is a small comarca capital in Tarragona province, and like hundreds of Catalan municipalities during the Spanish Civil War, it issued its own emergency fractional currency when the Republican government's coin supply collapsed after 1936. These tiny municipal notes — more cardboard chit than banknote — circulated purely on local trust and municipal authority, accepted in the market and shops of the immediate town and essentially nowhere else.

The Turró catalogue remains the definitive reference for this material. At roughly the size of a large postage stamp, losses and damage rates were high, and small-denomination pieces like this 5 céntimos are disproportionately scarce relative to higher values from the same issue.