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50 Céntimos Montalbán

Issuer Consejo Municipal de Montalbán
Year 1937
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Value 50 Centimos (0.50 ESP)
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Obverse description Typeset letterpress issue printed in black on plain paper stock, with a geometric border framing the entire face. The oval coat of arms of the Spanish Republic is positioned in the upper left corner, accompanied by the issuing authority inscription and denomination legend arranged in a structured layout across the note.
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Reverse lettering Certificado de Cambio 50 céntimos Montalbán, 1.º de Junio de 1937 Nota.- Estos certificados de cambio son de curso obligatorio dentro de este término y su valor será canjeado por billetes del Banco de España en la Caja Municipal.
(Translation: Exchange Certificate 50 Centimos Montalbán, 1st June 1937 Note.- These exchange certificates are mandatory legal tender within this district and their value will be redeemed for Bank of Spain banknotes at the Municipal Treasury.)
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Montalbán is a small municipality in the province of Teruel, Aragón — deep in Republican-held territory during the early phase of the Spanish Civil War. When the banking system fractured and small coin disappeared from circulation almost entirely in 1936–37, hundreds of Spanish municipalities issued their own emergency fractional scrip under authorization from the República. This note is one of those local solutions: a council filling the void left by hoarded bronze and silver coinage.

The Gari catalog remains the primary reference for Aragonese municipal issues, and the Mon#941-C designation places this within a series rather than as a singleton — Montalbán issued multiple denominations. Paper quality and ink stability vary considerably across surviving examples of Teruel-region scrip, as wartime printing conditions were improvised at best.

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