0.50 Pesetas Nalec

Nalec is a village in the comarca of Urgell, Catalonia, with a population historically numbering in the hundreds. During the Spanish Civil War, the collapse of small-denomination coinage drove hundreds of Catalan municipalities — including the most obscure — to issue their own emergency paper fractional currency under the 1937 Generalitat decree that formalized local money creation. Nalec's issue is among the smallest in physical size of any recorded Catalan municipal emission, consistent with the card-stock format adopted when printing resources were extremely limited.

Turró 1638 places it firmly within the documented corpus, but surviving examples are rare simply because the issuing population was tiny and redemption pools correspondingly small.