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| 正面铭文 | EL AYUNTAMIENTO DE NERPIO pagará al portador 50 CENTIMOS Nerpio 1 de septiembre de 1937 El Presidente del C.M. (Translation: The City Council of Nerpio will pay the bearer 50 Centimos Nerpio September 1, 1937 The President of the Municipal Council) |
| 背面描述 | Reverse entirely unprinted, leaving the plain cream-white paper stock exposed with no design, text, or ornamental elements. |
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Nerpio is a small municipality in the Sierra de las Alcaraz, deep in Albacete province — remote enough in 1937 that the Nationalist advance had severely disrupted normal coin supply throughout the region. Like hundreds of other Republican-held municipalities during the Civil War, the ayuntamiento resorted to issuing its own emergency fractional paper to substitute for hoarded or unavailable small change. These local issues are collectively catalogued under the broader *billetes locales* phenomenon, but Nerpio's output was tiny even by that standard.
The Gari Montserrat reference places this among the rarest of the Albacete provincial emissions. Survival rate is low — most were redeemed or simply disintegrated in daily use.