0.50 Pesetas Aliaga

Aliaga is a small municipality in the province of Teruel, Aragon — deep inside territory that saw brutal and prolonged fighting during the Spanish Civil War. Local emergency fractional currency of this kind was issued by hundreds of Spanish towns and villages in 1936–37, a direct consequence of small-denomination coinage vanishing from circulation almost immediately after the July 1936 uprising. The Republican government authorized municipalities to fill the gap themselves, which they did with varying degrees of printing quality and official formality.

Teruel province issues are among the scarcer groups in this series — the region changed hands violently, and much local paper did not survive.