50 Céntimos Cadaqués

Cadaqués, a small fishing village on the Costa Brava, issued its own emergency paper money in 1937 because the Spanish Civil War had effectively destroyed the supply of small-denomination coin across Republican-held Catalonia. The phenomenon was widespread — hundreds of Catalan municipalities did the same — but the Cadaqués notes are among the more sought-after in that series purely because of the town's subsequent art-world associations, which has nothing to do with the notes themselves.

Printed by Viader in Sant Feliu de Guíxols, a press that handled several Costa Brava municipal issues during the same period. Survival rates for these small-town emergency notes vary sharply; many were never redeemed after the Nationalist victory made them worthless.