50 Céntimos Alcorisa

Alcorisa is a small municipality in the Bajo Aragón comarca of Teruel province, and like hundreds of Spanish towns during the Civil War, it issued its own emergency fractional currency when Republican-zone coinage effectively disappeared from circulation. The Alianza Republicana — a local political front — acted as the issuing authority, a function normally far outside any such organization's remit. These municipal and organizational issues were produced ad hoc, often on whatever printing equipment existed locally, with no standardization across the region.

Teruel province saw some of the war's most brutal fighting. Notes from this area that survived did so largely by chance.