50 Céntimos Cehegín

Cehegín is a small municipality in the Murcia region of southeastern Spain, and like hundreds of other Republican-controlled towns during the Civil War, it issued its own emergency fractional currency in 1937 when the withdrawal and hoarding of metallic coinage created an acute shortage of small change. These local emissions — collectively catalogued under the broader "billetes locales" literature — were authorized under Republican decree but executed entirely at the municipal level, meaning print quality, paper stock, and surviving quantities vary wildly from town to town.

The Gari Mon reference places this among the better-documented Murcian emissions, though Cehegín examples surface infrequently.