50 Céntimos Hostoles

Hostoles is a small municipality in the Garrotxa comarca of Girona, and like hundreds of Catalan towns during the Civil War, it issued its own emergency paper money in 1937 when the Republican government's coin supply collapsed entirely. The Generalitat had authorized local authorities to fill the gap, producing a flood of small-denomination notes — cartrons, as they were commonly called — that varied wildly in quality, design ambition, and print run.

Turró catalogues over 1,400 Catalan municipal issues from this period. Hostoles sits at the quieter end of the spectrum in terms of survival numbers, and examples in any condition are infrequently encountered outside specialist Iberian collections.