0.50 Pesetas Benigánim

Benigánim is a small municipality in the Valencia province, and like hundreds of other Spanish Republican-controlled towns in 1937, its local council issued emergency fractional currency — "moneda local de necesidad" — to address the catastrophic coin shortage caused by silver hoarding and wartime disruption to the Mint. The Consejo Municipal had no printing infrastructure of any consequence, and these notes were typically produced by whatever local press was available, with quality varying accordingly.

The Turró and Gari catalogues both list this type, but surviving examples are genuinely uncommon — small-town Valencian issues were produced in limited runs and absorbed quickly into local trade, leaving few intact specimens.