50 Céntimos Saldes

Saldes is a tiny mountain municipality in the Berguedà comarca of Catalonia, population well under a thousand even today. During the Civil War, the Republican government authorized local bodies across Catalonia to issue emergency small-denomination paper — the coinage shortage after July 1936 was acute enough that villages with no plausible monetary infrastructure were suddenly printing their own currency. Turró catalogues hundreds of these municipal emissions, and Saldes is among the more obscure issuers.

Survival rates for these Catalan municipals vary wildly. Notes from tiny inland villages were printed in small quantities, often on whatever paper was available, and few were formally redeemed or archived.