50 Céntimos Iznalloz

Iznalloz is a small municipality in Granada province, and like hundreds of Spanish towns it resorted to locally issued paper during the Civil War when Republican-zone coinage effectively vanished from circulation after 1936. These municipal fractional notes — often little more than stamped slips — filled the gap left by hoarded metal, and their issuing authority rarely extended beyond the town itself.

The Gari Monetary catalog reference is unresolved for this piece, which may indicate a variant or an example that surfaced after the main census was compiled. Survival rates for Iznalloz issues are low; small-town wartime paper was disposable by design.