60 Centimos Arenys de Munt

Arenys de Munt, a small Catalan municipality north of Barcelona, issued its own emergency cardboard currency in 1937 as the Republican war economy collapsed conventional coin supply. Hundreds of Catalan towns did the same — the Generalitat could not keep pace with demand for small-denomination coinage, so local councils printed or stamped their own. These pieces circulated within strict municipal boundaries and were theoretically redeemable, though redemption became academic after Franco's forces consolidated control over Catalonia in early 1939.