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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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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 Lot Of 30 Aafes Military Pogs 2006, 2007, 2008 Gift CertificatesLot Of 30 Aafes Military Pogs 2006, 2007, 2008 Gift Certificates $7.99
Us Military Payment 1968 1 Dollar Series 661 - 106BUs Military Payment 1968 1 Dollar Series 661 - 106B $99.99 Vtg 1960's Short Snorter Military Payment Certificate Us Se 59 Five Cent 5c NoteVtg 1960's Short Snorter Military Payment Certificate Us Se 59 Five Cent 5c Note $7.99
Us 5 Cents 1954 Series 481 Military Vf Banknote P-M22Us 5 Cents 1954 Series 481 Military Vf Banknote P-M22 $11.50 Series 481 $1.00 Military Payment Certificate Mpc Pcgs 66 Ppq Gem NewSeries 481 $1.00 Military Payment Certificate Mpc Pcgs 66 Ppq Gem New $429.00
1943 World War Ii Nazi Era 100 Lire Italy Allied Military Payment Note Currency1943 World War Ii Nazi Era 100 Lire Italy Allied Military Payment Note Currency $12.99 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
Japanese 100 Peso Autographed By Flying Tiger Charlie Bond? auction k3Japanese 100 Peso Autographed By Flying Tiger Charlie Bond? auction k3 $45.00 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
Military Payment Certificate Series 472 50 Cents UsedMilitary Payment Certificate Series 472 50 Cents Used $8.99 France - 1944, 500 Francs Wwii military certificateFrance - 1944, 500 Francs Wwii military certificate $164.99
Series 681 Military Payment Certificate 10 Cents Pmg 65 Ppq Gem UncSeries 681 Military Payment Certificate 10 Cents Pmg 65 Ppq Gem Unc $49.99 10 Dollar Military Payment Certificate Series 591 Pmg 25 Please Lqqk!10 Dollar Military Payment Certificate Series 591 Pmg 25 Please Lqqk! $245.00
1944 Wwii France Allied Military Payment Currency 2 5 10 Francs Notes1944 Wwii France Allied Military Payment Currency 2 5 10 Francs Notes $9.99 Series 472 $1 Military Payment Certificate Pcgs 64 Ppq Stars & Strips CollectionSeries 472 $1 Military Payment Certificate Pcgs 64 Ppq Stars & Strips Collection $629.00
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 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
Military Payment Certificate 5 Cents Series 521 (1954) Banknote M29 Circ Mpc 5cMilitary Payment Certificate 5 Cents Series 521 (1954) Banknote M29 Circ Mpc 5c $0.50 Vtg 1945 Crisp Short Snorter Military Payment Currency Usa Japan 10 Sen Old NoteVtg 1945 Crisp Short Snorter Military Payment Currency Usa Japan 10 Sen Old Note $9.99
Series 611 Five Dollars Military Payment Certificate! Nice condition!Series 611 Five Dollars Military Payment Certificate! Nice condition! $314.99 Was: $349.99 Vtg 1945 Crisp Short Snorter Military Payment Currency Usa Japan 50 Sen Note CuVtg 1945 Crisp Short Snorter Military Payment Currency Usa Japan 50 Sen Note Cu $9.99
10 Cents Military Payment Certificate Series 47110 Cents Military Payment Certificate Series 471 $52.99 1951 Usa Series 481 5 Cents Military Payment Certificate Note, Pick M221951 Usa Series 481 5 Cents Military Payment Certificate Note, Pick M22 $1.36
Series 591 Military Payment Certificate 5 Cents Pcgs 65 PpqSeries 591 Military Payment Certificate 5 Cents Pcgs 65 Ppq $79.99 Coupon Book U.S. Navel Station 1951 2- Coupon In BookCoupon Book U.S. Navel Station 1951 2- Coupon In Book $28.00
Military Payment Certificate 50 Cents Series 481 (1951) Banknote M25 Circ MpcMilitary Payment Certificate 50 Cents Series 481 (1951) Banknote M25 Circ Mpc $2.00 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
Military Payment Certificate 25 Cents Series 521 (1954) Banknote M31 Circ MpcMilitary Payment Certificate 25 Cents Series 521 (1954) Banknote M31 Circ Mpc $2.00 1944 World War Ii Nazi Era 1 5 50 Mark Lot German Military Payment Note Currency1944 World War Ii Nazi Era 1 5 50 Mark Lot German Military Payment Note Currency $14.99
Mpc 681 lot of 3 notes $0.05, $0.10 & $0.25Mpc 681 lot of 3 notes $0.05, $0.10 & $0.25 $5.50 Series 692 Military Payment Certificate 25 Cents E07362253ESeries 692 Military Payment Certificate 25 Cents E07362253E $45.00
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 Usa 50 Cents P-M-4 Vg/G Nd(1946)Usa 50 Cents P-M-4 Vg/G Nd(1946) $24.99
2-Us Military Payment Certificates2-Us Military Payment Certificates $0.99 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
Replacement Note Military Payment Certificate Mpc Series641 5 cents 550Replacement Note Military Payment Certificate Mpc Series641 5 cents 550 $72.00 Was: $80.00 1944 World War Ii Nazi Era 50 Francs France Military Payment Banknote Currency1944 World War Ii Nazi Era 50 Francs France Military Payment Banknote Currency $9.99
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 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 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
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Prices current as of last update, 09/26/16 9:40am.

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