50 Céntimos Los Alcázares

Los Alcázares is a small coastal municipality in Murcia, and like hundreds of Spanish towns during the Civil War, it issued its own fractional paper money when Republican authorities failed to keep small-denomination coinage in circulation. The metallic shortage was severe enough by mid-1937 that local councils across the Republican zone were effectively printing their own currency — legally sanctioned under a 1937 decree but wildly inconsistent in execution.

Gari Mon #79-A suggests a single recorded type, which is typical for villages of this size. Survival rates for these municipal emissions are erratic; small-town issues were rarely saved, and many were rendered worthless and discarded before the war ended.