50 Céntimos Alcaudete

Alcaudete is a small olive-farming municipality in Jaén province, and like hundreds of Spanish towns during the Civil War, its ayuntamiento was forced to print its own fractional currency after the Republic's small coins vanished from circulation almost immediately after July 1936. These municipal emergency notes — known collectively as billetes locales de necesidad — were authorised under increasingly loose Republican decree as the coinage crisis deepened through 1937.

Gari Mon catalogues two varieties at this denomination; the B suffix here marks a distinct printing or paper variant. Most Alcaudete emissions were produced in very small quantities and redeemed locally, which makes survivorship genuinely uneven.