50 Céntimos Callosa de Ensarriá

Callosa de Ensarriá is a small municipality in the Marina Baixa comarca of Alicante, and like hundreds of Spanish towns during the Civil War, its municipal council issued emergency small change notes in 1937 to address the near-total disappearance of metallic coinage from circulation. The Republican government's wartime economy had drained copper and silver from daily commerce, leaving local councils to paper over the gap — sometimes literally with card stock this thin.

The Gari Monetary catalogue remains the primary reference for these Valencian municipal emissions, many of which survive in tiny quantities. Callosa's issues are among the more obscure entries in that listing.