50 Céntimos Carcagente

Carcagente — now Carcaixent — was a Valencian citrus-growing town that, like hundreds of Spanish municipalities during the Civil War, faced a near-total breakdown of small-denomination coinage in circulation. The Comité de Enlace del Frente Popular stepped in as the issuing authority, a coalition body coordinating the local Popular Front factions rather than a formal banking or municipal treasury. These emergency fractional notes were a hyperlocal solution to a national problem: the Republic's coins had largely vanished into hoarding or melting.

The Gari Montaner reference gap indicates the note remains unregistered or insufficiently documented in that census — not unusual for the more obscure Valencian local emissions, many of which survive in very small numbers.