50 Céntimos Villanueva del Duque

Villanueva del Duque is a small mining municipality in the north of Córdoba province, and like hundreds of Republican-held towns during the Civil War, its local council issued emergency paper fractional currency in 1937 to compensate for the near-total disappearance of metallic coinage. The Nationalist blockade of coin supply and wartime hoarding had stripped small change from circulation across the Republican zone, forcing municipal councils — bodies with no formal monetary authority — to print their own.

These local issues are catalogued by Gari-Montaner rather than Pick precisely because they fall outside conventional banking structures entirely. Survival rates vary wildly by town; smaller Andalusian municipalities are generally underrepresented in collections.