50 Céntimos Muro de Alcoy

Muro de Alcoy was a small Valencian municipality that issued its own emergency paper currency during the Civil War, as the Republican government's inability to maintain adequate coin supply in 1936–37 drove hundreds of Spanish towns to print their own fractional substitutes. These local billetes de necesidad had no backing beyond municipal authority and were valid only within the issuing town's borders — a monetary patchwork that the Republican Treasury repeatedly tried and largely failed to suppress.

Gari Mon#985-C indicates a catalogued variant within the Muro de Alcoy series, suggesting at least minor typographic or printing differences exist across the issue.