50 Céntimos Villena

Villena, a market town in Alicante province, was one of hundreds of Spanish municipalities forced to print emergency fractional currency during the Civil War after Republican authorities failed to maintain an adequate supply of small change. The centimo shortage was severe enough by 1937 that local councils across the loyalist zone effectively became de facto issuers, each producing their own scrip with whatever printing resources were at hand.

The dry seal was the municipality's primary authenticity mechanism — a common solution when security printing was simply not available. Forgery of local emergency issues was largely pointless given their hyper-local acceptance radius.