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| 正面铭文 | CONSEJO MUNICIPAL VILLANUEVA DEL DUQUE (Córdoba) Vale por 50 céntimos Noviembre 1937. (Translation: Municipal Council Villanueva del Duque (Córdoba) Valid for 50 Centimos November 1937.) |
| 背面描述 | Reverse is unprinted card stock in plain cream, bearing a partially legible violet ink official stamp applied by hand, likely a municipal validation seal, visible towards the left-centre of the note. |
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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.