50 Céntimos Rojales

Rojales is a small agricultural municipality in the Vega Baja del Segura, and like hundreds of similar towns across Republican Spain in 1937, it resorted to printing its own fractional currency when the central government's small change effectively disappeared from circulation — hoarded, melted, or simply never produced in sufficient quantity to reach the provinces. These local emergency issues, known collectively as "moneda local" or "papel moneda municipal," were technically illegal under pre-war monetary law but tolerated by necessity.

The printer, Imp. Alonso in nearby Almoradí, was under UGT labor control at the time of issue — the union's oversight notation printed directly on the note, which was common practice for Republican-zone print shops operating under collectivization agreements during the Civil War.