50 Céntimos La Llacuna

La Llacuna is a small municipality in the Alt Penedès comarca of Catalonia, and like hundreds of similar towns it issued its own fractional emergency currency — moneda de necessitat — during the early months of the Civil War after the Republican government's small-change crisis left local commerce effectively paralyzed. The Ajuntament, not a bank, was the issuing authority, which was entirely typical of the 1936–37 wave of municipal emissions across the region.

Turró catalogues this series with characteristic brevity. At this scale of issuer, survival rates are genuinely low — print runs were small, redemption was erratic, and most notes were eventually discarded rather than formally retired.