50 Pesetas Banco de España - Gijón

During the Spanish Civil War, the Republican government authorized regional branches of the Banco de España to issue their own emergency notes as the normal supply chains for currency collapsed. The Gijón branch issued this 50 Pesetas in 1937 while the city remained under Republican control — Asturias held out until October of that year, when Franco's forces completed their northern campaign and the region fell. Notes issued from this branch had an exceptionally short window of legitimate use.

Because Gijón was cut off from the rest of Republican Spain by mid-1937, these notes circulated in an effectively besieged economy. Survival rates are consequently low — not from destruction policy, but from the chaos of the siege's end.