15 Centimos Loranca de Tajuña

Loranca de Tajuña is a small municipality in the province of Guadalajara, and like hundreds of Spanish villages during the Civil War, it issued its own emergency cardboard currency when the Republic's coin supply collapsed in 1936–37. The hoarding of metallic coinage — driven by wartime panic and the melting of copper and silver for military use — left rural communities without any practical means of making change. Local ayuntamientos stepped in with hand-stamped or printed cardboard pieces that had no legal standing beyond the village limits.

At 35mm, this piece is notably large for a 15-céntimo denomination — a consequence of cardboard's low intrinsic value requiring physical presence to feel transactional.