50 Céntimos Peñalsordo

Peñalsordo is a village in Badajoz province, Extremadura — a region that fell partly under Republican control in the opening months of the Civil War before Nationalist forces pushed through. Municipal councils across these areas issued their own fractional paper in 1937 because the Republic's central supply of small-denomination coinage had effectively collapsed; copper and silver were being hoarded or redirected. The Consejo Municipal had no printing infrastructure of its own, and notes of this type were typically produced by local job printers on whatever stock was available.

Gari Mon catalogs hundreds of these emergency municipals, and Peñalsordo's entries are among the scarcer provincial examples — the village's population at the time was under a thousand.