50 Céntimos Chulilla

Chulilla is a village of a few hundred people clinging to a gorge in Valencia province, yet in 1937 its municipal council was printing its own fractional currency — which tells you everything about how thoroughly the Republican monetary system had fragmented during the Civil War. The Nationalist blockade and hoarding had stripped small coin almost entirely from circulation across loyalist territory, forcing hundreds of municipalities, no matter how minor, to plug the gap with locally authorized paper.

The Turró and Gari catalogues both document this issue, but surviving examples are genuinely scarce — small-town emergency paper was used hard, rarely saved, and frequently redeemed into nothing.