50 Céntimos Piles

Piles is a small coastal municipality in the Valencia region, and like hundreds of similar townships during the Spanish Civil War, its local council issued emergency fractional currency when Republican-zone copper and silver coinage disappeared from circulation almost entirely in 1936–37. These municipally issued notes — known collectively as "paper de guerra" or emergency local issues — filled a practical void that neither the Republic nor regional authorities could adequately address at the local level.

The official stamp is the sole security measure, which was typical of these micro-issues and did little to prevent forgery — though the hyperlocal circulation radius made counterfeiting economically pointless anyway.