50 Céntimos Cocentaina

Cocentaina is a small town in the Valencian Community, and like hundreds of Spanish municipalities during the Civil War, its local council issued emergency fractional currency after the hoarding of coins made small change nearly impossible to find. The Republican government technically authorized this kind of local emission, but the practical reality was that each municipality printed what it needed, often with minimal oversight and highly variable quality — which is exactly what you see in notes like this one.

Locally produced on whatever stock was available. The Gari Montaner catalogue remains the primary reference for these Valencian municipal emissions, and variant B designation typically indicates a meaningful difference in paper, color, or typeset from the base issue.