50 Céntimos Orihuela

Orihuela, a municipality in Alicante province, issued emergency fractional currency during the Spanish Civil War as Republican-controlled local governments scrambled to address a chronic shortage of small change — the hoarding of coins had become acute by 1937, with metallic currency disappearing from circulation almost entirely in many parts of Republican Spain. These municipal emissions, known as "moneda local de necesidad," were technically illegal under the Republican central government's monetary decrees but were tolerated out of necessity.

The Gari Montserrat catalogue is the standard reference for these Spanish Civil War local issues. Condition problems are endemic to the type — thin wartime paper, often poorly stored.