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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 Military Payment Certificate Series 681 25C Currency Note Xf+ Aau 197CMpc Military Payment Certificate Series 681 25C Currency Note Xf+ Aau 197C $69.00 Mpc Series 641 Military Payment Certificate $10 Pmg 62 Unc 1965 501J 3rdMpc Series 641 Military Payment Certificate $10 Pmg 62 Unc 1965 501J 3rd $170.10 Was: $189.00
Military Payment Certificate*Five Dollars*Series 692*Gem New 65Ppq CfoMilitary Payment Certificate*Five Dollars*Series 692*Gem New 65Ppq Cfo $550.00 Series 681 5 Cent Military Payment Certificate Mpc Replacement Note *310 StarSeries 681 5 Cent Military Payment Certificate Mpc Replacement Note *310 Star $76.50 Was: $85.00
Mpc Military Payment Certificate Series 681* 5C Xf+ / 8842 With pin holeMpc Military Payment Certificate Series 681* 5C Xf+ / 8842 With pin hole $26.00 Mpc Military Payment Certificate Series 471* 5 Five Cents Currency Note 4657B@Mpc Military Payment Certificate Series 471* 5 Five Cents Currency Note 4657B@ $9.90
Rangoon India W.O.s' and Sergents's Club Chit 1 Anna paper Coupon Voucher Rare?Rangoon India W.O.s' and Sergents's Club Chit 1 Anna paper Coupon Voucher Rare? $259.99 Series 481 $.10 Military Payment Certificate [Mpc] Pcgs 55 Ppq Choice About NewSeries 481 $.10 Military Payment Certificate [Mpc] Pcgs 55 Ppq Choice About New $29.00
Series 651 $5 Five Dollars Mpc Military Payment Certificate Gem UncirculatedSeries 651 $5 Five Dollars Mpc Military Payment Certificate Gem Uncirculated $149.95 Mpc Series 471 Military Payment Certificate 10 cents Ch Cu 1947 #521B HistoricMpc Series 471 Military Payment Certificate 10 cents Ch Cu 1947 #521B Historic $60.30 Was: $67.00
Great Britain Ww2 War Department 1 Shilling Pow Camp 81 Campbell 5017a EfGreat Britain Ww2 War Department 1 Shilling Pow Camp 81 Campbell 5017a Ef $159.99 Mpc Lot of 6 Military CurrencyMpc Lot of 6 Military Currency $42.50 Was: $50.00
Series 481 $.05 5c Military Payment Certificate [Mpc] Pcgs 55 Ppq Ca NewSeries 481 $.05 5c Military Payment Certificate [Mpc] Pcgs 55 Ppq Ca New $29.00 Series 471 $.10 - 10c Military Payment Certificate [Mpc] Pmg 55 Epq About Unc.Series 471 $.10 - 10c Military Payment Certificate [Mpc] Pmg 55 Epq About Unc. $39.00
1951 25 cents Military Payment Certificate Choice Au Very Nice Note Series 4811951 25 cents Military Payment Certificate Choice Au Very Nice Note Series 481 $75.00 25 Cent Us Military Payment Certificate Series 521 - circulated25 Cent Us Military Payment Certificate Series 521 - circulated $5.99
Italy Amc Series 1943 1 Lira Bep and Forbes printings Very Choice UncItaly Amc Series 1943 1 Lira Bep and Forbes printings Very Choice Unc $9.99 Rare 1948 one half mark Mpc Military Payment Certificate Geman Wwll NoteRare 1948 one half mark Mpc Military Payment Certificate Geman Wwll Note $18.00 Was: $20.00
United States Military Payment Ceritficate Mpc Series 641, 1 Dollar, 1965, P-M61United States Military Payment Ceritficate Mpc Series 641, 1 Dollar, 1965, P-M61 $39.99 Series 471 $.05 - 5c Military Payment Certificate [Mpc] Pcgs 45 Extremely FineSeries 471 $.05 - 5c Military Payment Certificate [Mpc] Pcgs 45 Extremely Fine $29.00
Pair of German Military Payment Certificate Mpc Wwlll 5 mark 1 mark 1944 GiftPair of German Military Payment Certificate Mpc Wwlll 5 mark 1 mark 1944 Gift $27.00 Was: $30.00 Military Payment Certificate Series 521 $1 Pmg 55Epq Au Currency 000E Mpc GiftMilitary Payment Certificate Series 521 $1 Pmg 55Epq Au Currency 000E Mpc Gift $157.45 Was: $174.95
Japanese 50 Sen World War Ii Note 2.5"x4" Yasukuni Shrine (376)Japanese 50 Sen World War Ii Note 2.5"x4" Yasukuni Shrine (376) $2.99 Rare Series 661 Mpc Military Payment Certificate $20 Note 1968-69 851BRare Series 661 Mpc Military Payment Certificate $20 Note 1968-69 851B $179.95 Was: $199.95
Usa 10$ Ten Dollar Mpc. Military Payment Series 681 */ C011803704C/*2Usa 10$ Ten Dollar Mpc. Military Payment Series 681 */ C011803704C/*2 $152.00 Series 100 Military Payment Certificate Mpc 10 Sen Ch Au Japan Wwii #088A RareSeries 100 Military Payment Certificate Mpc 10 Sen Ch Au Japan Wwii #088A Rare $45.00 Was: $50.00
Series 472 $.05 = 5C Military Payment Certificate [Mpc] Pcgs 50 Ppq About NewSeries 472 $.05 = 5C Military Payment Certificate [Mpc] Pcgs 50 Ppq About New $29.00 Mpc Military Payment Certificate Series 541 - 25C (F08231376)Mpc Military Payment Certificate Series 541 - 25C (F08231376) $90.00
Replacement *Star* Military Payment Certificate Mpc Series 611 5 cents 577* NoteReplacement *Star* Military Payment Certificate Mpc Series 611 5 cents 577* Note $81.85 Was: $90.95 Rare year 1948 Mpc Military Payment Certificate German 1 Eine Mark Note DeutscheRare year 1948 Mpc Military Payment Certificate German 1 Eine Mark Note Deutsche $67.50 Was: $75.00
Mpc Military Payment Certificate Series472*10C /827CMpc Military Payment Certificate Series472*10C /827C $12.00 5 Cents Series 471 2 Military Payment Certificate B00012463B5 Cents Series 471 2 Military Payment Certificate B00012463B $3.99
Mpc Series 641 $10 Military Payment Certificate Note #612J Choice Vf ArmyMpc Series 641 $10 Military Payment Certificate Note #612J Choice Vf Army $76.45 Was: $84.95 U.S.A. Military Payment Certificate 50 Cents Series 471 Note ! VfxfU.S.A. Military Payment Certificate 50 Cents Series 471 Note ! Vfxf $15.49
Replacement Note Military Payment Certificate Mpc Series641 5 cents 550Replacement Note Military Payment Certificate Mpc Series641 5 cents 550 $72.00 Was: $80.00 5 cents Military Payment Certificates Mpc Serie - 641 2669J5 cents Military Payment Certificates Mpc Serie - 641 2669J $33.00
Wwii Us Army Currency Ten SenWwii Us Army Currency Ten Sen $4.99 Great Britain 20-7-1936 20 Pounds Bernhard Note Nice VfGreat Britain 20-7-1936 20 Pounds Bernhard Note Nice Vf $149.99
Mpc Military Payment Certificate Series (5X2-481-521) (10X1 -521) 3Pcs /Mpc Military Payment Certificate Series (5X2-481-521) (10X1 -521) 3Pcs / $16.70 Rare Series 691 $5 Military Payment Certificate Mpc Note Currency Pcgs Gem 65PpqRare Series 691 $5 Military Payment Certificate Mpc Note Currency Pcgs Gem 65Ppq $1,165.95 Was: $1,295.50
France no date 1940-41 Bon De Solidarite 10 Francs Campbell 2326e UncFrance no date 1940-41 Bon De Solidarite 10 Francs Campbell 2326e Unc $54.99 1$ One Dollar Military Payment Certificates J02801299J1$ One Dollar Military Payment Certificates J02801299J $19.00
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Prices current as of last update, 07/24/16 11:40am.

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