50 Céntimos Labuerda

Labuerda is a village in the Aragonese Pyrenees with a population that barely reached three figures even at its peak. That a municipal council here issued fractional paper currency at all speaks to the acute small-change crisis that gripped Republican Spain from 1936 onward — silver and copper coins vanished from circulation almost immediately after the war began, hoarded or melted, and hundreds of Spanish municipalities filled the void with improvised local scrip.

Notes from villages this small rarely survived in any quantity. Most were redeemed, lost, or simply disintegrated.