50 Céntimos La Carolina

La Carolina, a planned Castilian settlement in the Sierra Morena founded in the 1760s under Charles III's colonization program, issued emergency fractional paper during the Civil War years when small coinage essentially vanished from local circulation. These ayuntamiento-issued céntimos notes were strictly municipal instruments — accepted at the issuing town hall and essentially worthless a few kilometers away. At 41 × 30 mm, the physical object is barely larger than a postage stamp.

The Gari Monerris catalog remains the primary reference for Spanish Civil War local issues, and the -B suffix on this Pick number indicates a distinct variety within the type.