50 Céntimos Elda

Elda, a shoe-manufacturing town in Alicante province, was one of hundreds of Spanish municipalities that issued emergency paper during the Civil War after metallic coin disappeared from circulation almost entirely by mid-1937. The Consejo Municipal — the Republican-controlled local council — effectively became a local bank by necessity, not by any formal monetary authority.

Gari Mon catalogues this as 601-A, implying at least one variant exists within the type. Municipal issues from this region were printed in small runs, often locally, with quality that varied considerably even within a single series.