50 Céntimos Alcañiz

Alcañiz, a town in Teruel province, was behind the Republican lines for much of the early Civil War period, and like hundreds of Spanish municipalities it issued its own fractional paper currency when the central government's small change effectively disappeared from circulation. The Republican administration formally authorized this local emergency money — known as moneda local de necesidad — but coordination was loose and designs were largely left to the issuing municipalities themselves.

Teruel province saw some of the war's most brutal fighting by late 1937 and into 1938. Notes from smaller Aragonese towns in this zone had short practical lives, and survival rates reflect it.