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| 正面铭文 | Consejo Municipal Velilla de Ebro 50 CENTIMOS REINTEGRABLE A LA CAJA MUNICIPAL VELILLA DE EBRO, 24 DE NOVIEMBRE DE 1937 (Translation: Municipal Council of Velilla de Ebro 50 Centimos Reintegrable to the Municipal Fund Velilla de Ebro, November 24, 1937) |
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| 背面铭文 | CONSEJO MUNICIPAL - VELILLA de EBRO 50 CTS. (Translation: Municipal Council - Velilla de Ebro 50 Centimos) |
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Velilla de Ebro is a small municipality in Zaragoza province, and like hundreds of Spanish towns during the Civil War, its local council issued emergency fractional currency in 1937 when Republican-zone coinage effectively vanished from circulation. Small copper and silver coins were hoarded, melted, or simply ceased to be produced as the war disrupted normal monetary channels — leaving communities to print their own solutions.
These municipally issued cartones, as they were commonly called, had no backing beyond local trust and the council's authority. Most were printed in tiny runs and survived only by accident.