50 Céntimos Sagunto

Sagunto's municipal council began issuing emergency fractional paper in 1937 as Republican Spain's coin shortage became acute — silver and copper coinage had largely vanished from circulation, hoarded or melted down, and the central government's response was too slow for local commerce to wait. Hundreds of Spanish municipalities printed their own provisional notes that year, many of them crude, but they were legal for local transactions and filled a genuine gap.

The Turró and Gari catalogues both document this issue, though surviving examples from small Valencian councils like Sagunto tend to turn up infrequently outside regional collections.