50 Céntimos Caudiel

Caudiel is a small agricultural municipality in Castellón province, and during the Spanish Civil War its CNT-affiliated cooperative issued its own fractional currency to keep local commerce functioning after metallic coin effectively vanished from circulation. These hyper-local vales were never intended to travel beyond the village, which is precisely why survivorship is so poor — they were redeemed, lost, or simply discarded when the Republican zone collapsed in 1939.

The thick card stock construction was deliberate: easier to handle repeatedly in a market or cooperative store than thin paper, and marginally harder to counterfeit at village scale.