0.50 Pesetas Campanario

Campanario is a small municipality in Badajoz province, Extremadura. Like hundreds of Spanish towns, it issued its own fractional paper currency during the Civil War after the Republic's central government could no longer guarantee the supply of small-denomination coinage — silver and copper had been hoarded or melted almost immediately after July 1936.

Municipal issues from villages of this size were typically produced by a local printer, sometimes a single job press, with no security printing whatsoever. The Garicano-Montaner reference for this specific emission remains incomplete, which suggests documentation is thin — not unusual for issues that circulated within a single municipality and were rarely preserved afterward.