50 Céntimos Cedó

Cedó is a village in the Pallars Jussà region of Catalonia with a population that has historically hovered below a few hundred — making this one of the smallest municipal issuers of Civil War-era emergency paper money in Spain. During the 1936–1939 conflict, the collapse of small-denomination coinage prompted thousands of Spanish municipalities, however tiny, to print their own local currency under the broad authorization framework established by the Generalitat de Catalunya. Cedó was among the most marginal of these issuers, and surviving examples are correspondingly rare.

Turró's cataloguing of this piece confirms its legitimacy, but documented circulation evidence is essentially nonexistent.