50 Céntimos Asturias y León

The Consejo de Asturias y León was the Republican authority governing the northern enclave after Franco's forces cut it off from the rest of the Republic in 1936. Isolated by land, supplied sporadically by sea, and under sustained military pressure, the council issued its own emergency currency because the Banco de España's notes had largely disappeared from local circulation — hoarded, evacuated, or simply unavailable.

The enclave collapsed in October 1937 when Asturias fell to Nationalist forces. Notes issued by the Consejo became worthless overnight, and most surviving examples come from unissued remainder stocks rather than genuine circulation.