50 Céntimos Manlleu

Manlleu is a textile town on the Ter river in Osona, and like hundreds of Catalan and Spanish municipalities during the Civil War, it issued its own fractional paper money when the Republican government's coin supply collapsed after 1936. These locally sanctioned notes — called moneda municipal or bitllets locals — were a direct response to a nationwide hoarding crisis: silver and copper coinage vanished almost immediately after July 1936, making small transactions nearly impossible.

The Centre d'Administració Municipal in Barcelona served as a centralized production facility for many of these issues, which is why notes from otherwise unrelated towns sometimes share obvious typographic and layout similarities. Turró's catalog documents over a thousand such issues from the 1936–1939 period, and this 50 céntimos sits within that larger body of wartime fiscal improvisation.