50 Céntimos Belmez

Belmez is a small coal-mining municipality in the province of Córdoba, and like dozens of Spanish towns it resorted to locally printed emergency paper during the Civil War after the Republican government's decree of July 1936 effectively validated municipal emergency currency. These small-denomination notes filled the void left by hoarded coins — silver and copper disappeared from circulation almost immediately after the war began.

The Gari Montllor reference is unassigned, suggesting this piece remains poorly documented in the major Spanish Civil War notaphilic literature. Condition problems are endemic to these wartime municipals — thin stock, amateur printing, and heavy use in a working-class industrial town.