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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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Military Payment Currency - Series 611 $10 Pmg Certified Ms 66 EpqMilitary Payment Currency - Series 611 $10 Pmg Certified Ms 66 Epq $1,499.00 Mpc Military Payment Certificate Series 521 - 25C (E03594336E)Mpc Military Payment Certificate Series 521 - 25C (E03594336E) $21.00
Germany allied occupation 1 One mark note 1948Germany allied occupation 1 One mark note 1948 $15.00 Series 691 $1.00 Military Payment Certificate Pcgs 67 Ppq Super Gem NewSeries 691 $1.00 Military Payment Certificate Pcgs 67 Ppq Super Gem New $269.00
6G10 Navy Midshipmen Team 10 Cents Aafes Pogs A U Slightyly Used6G10 Navy Midshipmen Team 10 Cents Aafes Pogs A U Slightyly Used $9.95 1969-70 5 Cent Vietnam Issue Gem Crisp Uncirculated1969-70 5 Cent Vietnam Issue Gem Crisp Uncirculated $18.99
U.S. Military Payment Certificate Five Cents Series 541 Circulated NoteU.S. Military Payment Certificate Five Cents Series 541 Circulated Note $9.92 [#303443] United States, 10 Cents Type Military Payment Certificate, Pick.[#303443] United States, 10 Cents Type Military Payment Certificate, Pick. $20.00
Mpc Military Payment Certificate Series 681* 5C Currency Note Xf+ Aau460CMpc Military Payment Certificate Series 681* 5C Currency Note Xf+ Aau460C $45.00 Ultra Rare Au 2014 American Embassy Baghdad Employee Ass. (Aebea) Aafes Pogs.Ultra Rare Au 2014 American Embassy Baghdad Employee Ass. (Aebea) Aafes Pogs. $35.00
U.S. Military Payment Certificate Five Cents Series 521 Crisp Unc Tougher!U.S. Military Payment Certificate Five Cents Series 521 Crisp Unc Tougher! $34.63 Rare Pog 6M10w Aafes Pog from 2005 6th printing Au to Bu Hot only 50K madeRare Pog 6M10w Aafes Pog from 2005 6th printing Au to Bu Hot only 50K made $80.00
Military Payment Certificate 10 Cents Series 481Military Payment Certificate 10 Cents Series 481 $6.00 Military Payment Currency - Series 681 5 Cents * Pmg Certified 64 EpqMilitary Payment Currency - Series 681 5 Cents * Pmg Certified 64 Epq $149.99
10 Cents Us Military Payment Certificate Series 521 Circulated10 Cents Us Military Payment Certificate Series 521 Circulated $4.49 Military Payment Currency - Series 692 .25 Pmg Certified 65 EpqMilitary Payment Currency - Series 692 .25 Pmg Certified 65 Epq $79.99
[#158059] United States, 10 Cents type Miltary Payment Certificate, Pick M16[#158059] United States, 10 Cents type Miltary Payment Certificate, Pick M16 $15.00 Usa 1969, Series 651, Military 1 Dollar, M72E, UncUsa 1969, Series 651, Military 1 Dollar, M72E, Unc $89.00
Japan nd Series 100 Allied Military Currency 10 Sen "B"Japan nd Series 100 Allied Military Currency 10 Sen "B" $12.99 Military Payment Currency - Series 692 $10 * Pmg Certified 66 EpqMilitary Payment Currency - Series 692 $10 * Pmg Certified 66 Epq $1,549.99
Mpc - Series 541 - $0.10 - Pmg 58 Choice About New EpqMpc - Series 541 - $0.10 - Pmg 58 Choice About New Epq $59.95 25 Cents Military Payment Certificate Series 641 : Pmg 65 Epq25 Cents Military Payment Certificate Series 641 : Pmg 65 Epq $69.99
*Rare Aafes 2Nd Print Pog 2A251 - Au+**Rare Aafes 2Nd Print Pog 2A251 - Au+* $4.75 Series 661 $1 Military Payment Certificate - Pcgs NewSeries 661 $1 Military Payment Certificate - Pcgs New $49.99
2 Consecutive $10 Series 651 Military Payment Certificate - Unc.2 Consecutive $10 Series 651 Military Payment Certificate - Unc. $349.95 Us United States Lot P-M26 1951 1 Dollar Vf Military Payment Series 481Us United States Lot P-M26 1951 1 Dollar Vf Military Payment Series 481 $100.00
Military Payment Certificate Mpc Lot of 5 - Series 681 and 692Military Payment Certificate Mpc Lot of 5 - Series 681 and 692 $28.00 Mpc - Series 472 - 50 Cent U.S. Military Payment Certificate - Poor - Tub AabMpc - Series 472 - 50 Cent U.S. Military Payment Certificate - Poor - Tub Aab $28.99 Was: $49.99
Series 611 $1 Military Payment Certificate Banknotes. 3 NotesSeries 611 $1 Military Payment Certificate Banknotes. 3 Notes $138.60 Ten and Five Cents Military Payment Certificates Series 521 and 481Ten and Five Cents Military Payment Certificates Series 521 and 481 $6.30 Was: $9.00
*2 Complete Sets Of 1St Print Aafes Pogs - Beautiful Uncirculated!**2 Complete Sets Of 1St Print Aafes Pogs - Beautiful Uncirculated!* $5.50 Mpc - Series 461 - 5 Cent U.S. Military Payment Certificate - Tub AabMpc - Series 461 - 5 Cent U.S. Military Payment Certificate - Tub Aab $57.99 Was: $99.99
Military Payment Certificate 5 Cent Note Series 471 B10458396BMilitary Payment Certificate 5 Cent Note Series 471 B10458396B $1.95 10C Military Payment Certificate ✪ Choice Uncirculated ✪ Series 591 Cu◢Edelmans◣10C Military Payment Certificate ✪ Choice Uncirculated ✪ Series 591 Cu◢Edelmans◣ $65.00
Usa 1961, Series 591, 10 Cents, 10 Pcs Vg-FineUsa 1961, Series 591, 10 Cents, 10 Pcs Vg-Fine $49.00
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Prices current as of last update, 06/18/16 8:40pm.

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