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Military Payment

Military Payment Certificates, or MPC, were used from the end of World War II until the end of the Vietnam War, between the years 1946 and 1973. MPC's utilized layers of line lithography to create colorful banknotes that could be produced cheaply. more...

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Fifteen series of MPC's were created but only 13 series were issued.

History of MPC

Military Payment Certificates (MPC) evolved from Allied Military Currency as a response to the large amounts of US Dollars circulating in post-WWII Europe due to American servicemen. The local citizens did not trust local currencies as the fate of their governments was unclear. Therefore preferring a stable currency, dollars, they often accepted payment in dollars for less than the accepted conversion rates. Obviously dollars became more favorable, inflating the local currencies and thwarting plans to stabilize the economies. Contributing to this problem was the fact that though troops were being paid in the local currency they could convert an unlimited amount to dollars at the government set conversion rate, which was much more favorable to the GIs than the market rate. From this a black market developed where the servicemen could utilize the favorable exchange rate.

To combat this the US military devised the MPC program. MPC's were paper money denominated in US Dollars in amounts of 5 cents, 10 cents, 25 cents, 50 cents, 1 dollar, 5 dollars, 10 dollars, and starting in 1968 20 dollars. MPC's were fully convertible to US dollars upon leaving combat (or more specifically a designated MPC zone) and convertible to local currencies (but not vice-versa), and were illegal for unauthorized personnel to possess, thus, in theory, eliminating US dollars from local economies. Although actual greenbacks were not circulating, many local merchants accepted MPC on par with US dollars, as they knew they could use them on the black market. This was especially evident during the Vietnam War when the MPC program was at its height. There was however a provision meant to combat this. Many veterans can recount conversion days, when one series of MPC was made invalid and replaced by another, where locals (who were not authorized to convert) would be desperately trying to change their MPC as it soon be worthless.

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Mpc - Series 471 5¢ U.S. Military Payment CertificateMpc - Series 471 5¢ U.S. Military Payment Certificate $44.95 Usa Military Payment 10 Dollars Series 541 (1958) Note! Vf+Usa Military Payment 10 Dollars Series 541 (1958) Note! Vf+ $255.00
Military Payment Certificate Series 541 5 cents Gem UncMilitary Payment Certificate Series 541 5 cents Gem Unc $9.99 Vietnam Military Payment Certicicate Series 661 25 CentsVietnam Military Payment Certicicate Series 661 25 Cents $25.00
Military Payment Certificate - 5 Cents, Series 541 ~Collectible MoneyMilitary Payment Certificate - 5 Cents, Series 541 ~Collectible Money $9.99 Lot of 9 Aafes Pogs Gift Certificates - Dated 2007 - 5 10 25 Cent DenominationsLot of 9 Aafes Pogs Gift Certificates - Dated 2007 - 5 10 25 Cent Denominations $10.00
Allied Military Currency ItalyAllied Military Currency Italy $3.00 Lot of 11 Aafes Pogs Gift Certificates - Dated 2008 - Lenticular - All DifferentLot of 11 Aafes Pogs Gift Certificates - Dated 2008 - Lenticular - All Different $15.00
2015 Ana Convention Certificate Chicago 1 dollar, 2 3 dollar, 3 70 dollar Unc2015 Ana Convention Certificate Chicago 1 dollar, 2 3 dollar, 3 70 dollar Unc $19.99 Replacement Issue Mpc - Series 611 $1 U.S. Military Payment CertificateReplacement Issue Mpc - Series 611 $1 U.S. Military Payment Certificate $168.95
Japan nd Series 100 Allied Military Currency 20 Yen "B" Replacement clean FineJapan nd Series 100 Allied Military Currency 20 Yen "B" Replacement clean Fine $299.99 Usa Mpc Series 661, 10 Cent series 661, VietnamUsa Mpc Series 661, 10 Cent series 661, Vietnam $4.50
Tt $1 Mpc Military Payment Certificate Series 661 Pcgs 69 PpqTt $1 Mpc Military Payment Certificate Series 661 Pcgs 69 Ppq $895.00 United States Military Payment Certificate (Series 521) 25 Cents E 00848653EUnited States Military Payment Certificate (Series 521) 25 Cents E 00848653E $12.00
Military Payment Certificate Series 611 25 cents Scarce edge tear top above 50Military Payment Certificate Series 611 25 cents Scarce edge tear top above 50 $5.99 Military Payment Certificate Series 472 10 Dollars Ef-Au with grafittiMilitary Payment Certificate Series 472 10 Dollars Ef-Au with grafitti $19.99
Military payment certificate Series 541 5centsMilitary payment certificate Series 541 5cents $6.00 U.S.A. Military Payment Certificate 5 Cents Series 521 Note! AuU.S.A. Military Payment Certificate 5 Cents Series 521 Note! Au $8.00
Military Payment Certificate Series 472 5 Dollars circulated with 7mm centerfoldMilitary Payment Certificate Series 472 5 Dollars circulated with 7mm centerfold $19.99 Scarce Mpc - Series 541 $10 U.S. Military Payment Certificate - Vietnam EraScarce Mpc - Series 541 $10 U.S. Military Payment Certificate - Vietnam Era $1,195.00
Military Payment Certificate Series 661 10 Dollars Clean Ef quite rareMilitary Payment Certificate Series 661 10 Dollars Clean Ef quite rare $799.99 Military Payment Certificate Series 651 50 cents Unc slight stain bottom edgeMilitary Payment Certificate Series 651 50 cents Unc slight stain bottom edge $71.00
Series 481 $1 Mpc, Pmg 35 Choice Very Fine U.S. Military Payment CertificateSeries 481 $1 Mpc, Pmg 35 Choice Very Fine U.S. Military Payment Certificate $98.95 Military Payment Certificates Series 481 5, 10, 50 cents. 1, 5, 10 Dollars circMilitary Payment Certificates Series 481 5, 10, 50 cents. 1, 5, 10 Dollars circ $19.99
Us Military Payment Certificates 10 Cents Series 651 Gem UncUs Military Payment Certificates 10 Cents Series 651 Gem Unc $249.99 Military payment certificateMilitary payment certificate $30.00
France 1944 Amc Allied Military Currency Series 100 10 Francs "X" ReplacementFrance 1944 Amc Allied Military Currency Series 100 10 Francs "X" Replacement $34.99 Military Payment Certificate Series 541 25 Cents Gem Unc Position 84 anotherMilitary Payment Certificate Series 541 25 Cents Gem Unc Position 84 another $39.99
Military Payment Certificate Series 541 25 Cents Gem Unc Position 84Military Payment Certificate Series 541 25 Cents Gem Unc Position 84 $39.99 Series 641 10c Mpc #J00025933J Plate 4 Pcgs Gem New 66PpqSeries 641 10c Mpc #J00025933J Plate 4 Pcgs Gem New 66Ppq $158.00
France Amc Allied Military Currency Series 100 2 Francs "X" Replacement circFrance Amc Allied Military Currency Series 100 2 Francs "X" Replacement circ $14.99 Military Payment Certificate Series 661 5, 10, 25, 50 cents all four are Gem UncMilitary Payment Certificate Series 661 5, 10, 25, 50 cents all four are Gem Unc $11.00
Lot Of Three Military Payment Certificates.5, 25 And 50 CentsLot Of Three Military Payment Certificates.5, 25 And 50 Cents $11.05 United States Military Payment Mpc 5 Cents 1954-1958 Series 521 Pm29United States Military Payment Mpc 5 Cents 1954-1958 Series 521 Pm29 $8.00
Denmark Propaganda Foedre Landet Series A 1942 1 Sb page 736 Sb1501 UncDenmark Propaganda Foedre Landet Series A 1942 1 Sb page 736 Sb1501 Unc $149.99 Military Payment Certificate Series 681 5 cents and 10 cents Gem UncMilitary Payment Certificate Series 681 5 cents and 10 cents Gem Unc $9.99
Great Britain Bma 10 Shillings Pick M5 Very Rare Original "X" Vf-Ef RrrGreat Britain Bma 10 Shillings Pick M5 Very Rare Original "X" Vf-Ef Rrr $1,250.00 Mixed Lot 14 Aafes 2009-2011 U.S. Military Pogs 5 10 25 Cents Gift CertificatesMixed Lot 14 Aafes 2009-2011 U.S. Military Pogs 5 10 25 Cents Gift Certificates $12.99
Series 521 $5 Us Military Payment Certificate, Very Scarce Mpc! Series 521 $5 Us Military Payment Certificate, Very Scarce Mpc!  $259.95 Us Mpc 50 Cents P-M60 Series 641 Choice Au-Unc.Us Mpc 50 Cents P-M60 Series 641 Choice Au-Unc. $44.99 Was: $49.99
Military Payment Certificate Series 472 10 Dollars Vf slight rustMilitary Payment Certificate Series 472 10 Dollars Vf slight rust $19.99 Italy Series 1943 Bep Sb 109 50 Lire 2 pin holes Ef-AuItaly Series 1943 Bep Sb 109 50 Lire 2 pin holes Ef-Au $29.99
Italy Series 1943 Bep Sb 110 100 Lire pin holes Ef-AuItaly Series 1943 Bep Sb 110 100 Lire pin holes Ef-Au $29.99 Military Payment Certificate Series 541 1 Dollar Clean no issues Vf-EfMilitary Payment Certificate Series 541 1 Dollar Clean no issues Vf-Ef $19.99
Us Military Payment Certificate Mpc Series 471 Ten Cent 10c Replacement Note VfUs Military Payment Certificate Mpc Series 471 Ten Cent 10c Replacement Note Vf $799.99 Us Military Payment Certificate Series 521, 5 Cents Note, Money, BanknoteUs Military Payment Certificate Series 521, 5 Cents Note, Money, Banknote $6.00
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Prices current as of last update, 05/02/16 4:00pm.

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