0.50 Pesetas Argamasilla de Calatrava

Argamasilla de Calatrava is a small municipality in Ciudad Real province, and like hundreds of Spanish towns during the Civil War, its local council issued emergency fractional currency when Republican-zone coin circulation collapsed almost entirely in 1937. These municipal emissions — locally called moneda local or vales — were stopgap instruments, authorized under desperate circumstances rather than any coherent monetary policy from Valencia or Madrid.

The thick card stock was a deliberate choice: thinner paper wore out within weeks under the volume of small transactions these notes were meant to handle. Gari Mon catalogues several Argamasilla types; the B variant suggests at least one earlier emission preceded this one.