25 Céntimos Cartagena; replica

The Ayuntamiento de Cartagena issued emergency fractional currency during the Spanish Civil War, and this 2003 replica — produced by the Fábrica Nacional de Moneda y Timbre — was almost certainly made for a commemorative or educational purpose rather than any numismatic deception. The FNMT's involvement lends the reproduction an unusual degree of official sanction; this is not a private fantasy piece.

The inclusion of a watermark in a declared replica is worth noting. It suggests the FNMT applied standard security production methods regardless of the piece's commemorative status, likely because the same presses and paper stock were used across runs.