50 Céntimos Villores

Villores is a tiny municipality in the Castellón province of eastern Spain, and like hundreds of similarly small Republican-held towns during the Civil War, it issued its own emergency paper money when the central government's coinage effectively disappeared from circulation — hoarded, melted, or simply absent. These local emisiones de guerra were technically authorized under a 1936 Republican decree permitting municipalities to issue small-denomination scrip to keep local commerce moving.

The Gari Montfalcón census documents this issue as a single known type, suggesting a very limited print run. Survival rate for Castellón municipal notes is unpredictable — some tiny villages produced notes that turn up regularly; others are genuinely rare simply because so few were printed to begin with.