50 Céntimos Caniles

La Azucarera de Caniles was a sugar beet processing company in the Granada province of Andalusia, and like dozens of similar industrial enterprises during the Spanish Civil War period, it issued its own emergency fractional currency when small change effectively disappeared from circulation. These industrial vales — company scrip functioning as local tender — were a widespread improvisation across Republican-held territory after 1936, when copper and silver coins were hoarded or melted and the central authorities could not supply adequate substitutes.

The embossed seal is the only security measure, which says something about both the urgency of production and the intensely local nature of the note's intended use. Nobody outside the immediate area was meant to accept it.