50 Céntimos Mula

Mula is a small town in Murcia, and like hundreds of Spanish municipalities in 1937, it issued its own emergency fractional currency when the Republic's coin supply collapsed under the pressures of the Civil War. These local "billetes" were printed or lithographed at whatever facility was available — often a local press with no experience producing currency — which is why paper quality, registration, and ink consistency vary so dramatically even within a single series.

The Garicano Moner catalog remains the primary reference for Republican municipal issues, and its low circulation numbers for Mula suggest very few examples survived the postwar period, when holding Republican-issued paper became politically dangerous.