50 Céntimos Alcalá del Júcar

Alcalá del Júcar is a small hill town in Albacete province, and like hundreds of Spanish municipalities it resorted to locally produced small-change notes during the Civil War when Republican authorities hoarded coinage and the national supply of fractional currency collapsed entirely. These emergency emissions — known as "moneda local" or "papel moneda municipal" — were often printed on whatever card stock or heavy paper the town hall could lay hands on, which is exactly what the thick substrate here suggests.

The Gari Morancho catalog (the standard reference for Spanish Civil War local issues) classifies this under #70-B, indicating at least two variants exist for this denomination from this issuer.