We use the concept of grading of Lie algebras to investigate the appearance
of central charges during the contraction process. As for the usual graded
contractions, one finds simultaneously the central extensions of classes o
f algebras, rather than specific Lie algebras. To illustrate the method, we
consider in detail two physical applications: the kinematical algebras of
spacetime and the u(n)-bosons limits of some Lie algebras.