50 Céntimos Penelles

Penelles is a village in the Noguera comarca of Lleida with a population that barely exceeded a few hundred during the 1930s. That such a settlement issued its own paper currency at all is a direct consequence of the coin shortage that paralyzed Republican-held Catalonia from mid-1936 onward — small-denomination metallic coinage disappeared almost entirely from circulation, hoarded or melted, forcing hundreds of municipalities to fill the gap with locally printed paper.

Imprenta A. Figueres in Tàrrega supplied emergency currency to several Lleida-area municipalities during this period, which is why the printing quality across these small-town issues tends to be consistent despite the chaotic conditions of wartime production.