0.50 Pesetas Masalavés

Masalavés is a small agricultural village in Valencia's Ribera Alta comarca, and like hundreds of similar municipalities during the Spanish Civil War, it issued its own emergency small change notes when fractional coinage vanished from circulation entirely. The Republican government effectively sanctioned this local improvisation — the national Gaceta de la República acknowledged the widespread shortage — but the notes carried no legal guarantee beyond the issuing council's local authority.

At roughly the size of a large postage stamp, this is among the smallest physical formats produced during the war. Survival rates for these municipal issues are unpredictable; many were redeemed and pulped, others simply lost.