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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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Us Military Payment Certificate. Series 481. 10 CentsUs Military Payment Certificate. Series 481. 10 Cents $2.49 Lot of 4 Rare Series 461- Ww2 Military Payment Certificate-5, 10, and 25 centsLot of 4 Rare Series 461- Ww2 Military Payment Certificate-5, 10, and 25 cents $2.25
Us Military Payment Certificate Mpc 1 Dollar Series 481 One Bank Note 1951-1954Us Military Payment Certificate Mpc 1 Dollar Series 481 One Bank Note 1951-1954 $9.99 6 Bills Of Sen Military Currency Series 1006 Bills Of Sen Military Currency Series 100 $20.00 Was: $25.00
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Series 681 Military Payment Certificate 5 Cents Au (Crisp)Series 681 Military Payment Certificate 5 Cents Au (Crisp) $9.99 Mpc - Series 471 - $0.05 - Pcgs 64 Very Choice New PpqMpc - Series 471 - $0.05 - Pcgs 64 Very Choice New Ppq $82.95
Series 461 United States 5 Cent Military Payment CertificateSeries 461 United States 5 Cent Military Payment Certificate $9.95 10 Cents Military Payment Certificate Series 47210 Cents Military Payment Certificate Series 472 $61.00
2 Ea Consec 692 Military Payment Certificate 10 Cents Pcgs 66 Ppq Gem Unc2 Ea Consec 692 Military Payment Certificate 10 Cents Pcgs 66 Ppq Gem Unc $129.99 U.S. Military Payment Certificate - Series 661 Ten (10) CentsU.S. Military Payment Certificate - Series 661 Ten (10) Cents $5.99
Mpc - Series 471 - $0.10 - Pcgs 63 Choice New PpqMpc - Series 471 - $0.10 - Pcgs 63 Choice New Ppq $83.95 Military payment Note 10 centsMilitary payment Note 10 cents $35.00
U.S. Military Payment Certificate - Series 681 One (1) DollarU.S. Military Payment Certificate - Series 681 One (1) Dollar $19.99 Military Payment Certificate Mpc Series 641 Ten Dollars (P22)Military Payment Certificate Mpc Series 641 Ten Dollars (P22) $39.95
Usa - Military Payment Certificate- series 681 - $20 - replacement note - GfUsa - Military Payment Certificate- series 681 - $20 - replacement note - Gf $80.00 Military Payment Certificate Series 661 $1 Superb Gem Pmg Ms 67 EpqMilitary Payment Certificate Series 661 $1 Superb Gem Pmg Ms 67 Epq $369.99
Vintage Us Military Payment Certificate: 5 cents-series 641 Money Free ShippingVintage Us Military Payment Certificate: 5 cents-series 641 Money Free Shipping $9.99 Mpc - Series 461 - $0.10 - Pmg 58 Choice About Unc.Mpc - Series 461 - $0.10 - Pmg 58 Choice About Unc. $54.95
Aafes Pogs Military Payment Gift Certificate Rare Marvel Iron Man 2008 25 centAafes Pogs Military Payment Gift Certificate Rare Marvel Iron Man 2008 25 cent $3.00 military payment note 1 dollarmilitary payment note 1 dollar $10.00
Series 692 $1 One Dollar Mpc Military Payment CertificatesSeries 692 $1 One Dollar Mpc Military Payment Certificates $1,000.00 military payment certificate 5 centsmilitary payment certificate 5 cents $7.00
Usa - Military Payment Certificate- series 681 - 10 cts- replacement note - VfUsa - Military Payment Certificate- series 681 - 10 cts- replacement note - Vf $30.00 2 Mpc Series 641 5 cent2 Mpc Series 641 5 cent $8.00
Series 611 Military Payment Certificate 5 Cents Five Cents Pcgs 68 PpqSeries 611 Military Payment Certificate 5 Cents Five Cents Pcgs 68 Ppq $99.99 Aafes Pogs Military Payment Gift Certificates 2007 lot of 5 tokensAafes Pogs Military Payment Gift Certificates 2007 lot of 5 tokens $5.00
Series 641 Military Payment Certificate 50 Cents Pcgs 64 Very Choice UncSeries 641 Military Payment Certificate 50 Cents Pcgs 64 Very Choice Unc $29.99 Aafes Pogs Military Payment Gift Certificates lot of 7 2009 tokens Enduring FreeAafes Pogs Military Payment Gift Certificates lot of 7 2009 tokens Enduring Free $5.00
Us Military Payment Certificates 10 Dollars Series 611Us Military Payment Certificates 10 Dollars Series 611 $275.00 Series 692 Military Payment Certificate 50 Cents Pcgs 65 Ppq Gem UncSeries 692 Military Payment Certificate 50 Cents Pcgs 65 Ppq Gem Unc $79.99
$1.00 Mpc *Series 611* Replacement Note!$1.00 Mpc *Series 611* Replacement Note! $89.99 Series 481 Military Payment Certificate 25 Cents Pcgs 67 PpqSeries 481 Military Payment Certificate 25 Cents Pcgs 67 Ppq $89.99
Japan 10 Sen Amc Military Payment Series 100 Fancy Serial # A05544054A CrispJapan 10 Sen Amc Military Payment Series 100 Fancy Serial # A05544054A Crisp $29.99 Usa / Mpc $20 Nd. 1970 Series 692 Position 28 circulated BanknoteUsa / Mpc $20 Nd. 1970 Series 692 Position 28 circulated Banknote $139.95
10 Cents U.S. Military Payment Certificate Series 641 - Usu Jr65310 Cents U.S. Military Payment Certificate Series 641 - Usu Jr653 $10.00 Series 661 - U.S. Military Ten (10) Cents Payment CertificateSeries 661 - U.S. Military Ten (10) Cents Payment Certificate $5.99
United States Military Payment Certificate Series 541 10 Cents Usa Mpc AuUnited States Military Payment Certificate Series 541 10 Cents Usa Mpc Au $12.99 10 Cent Circulated Military Payment Certificate Series 481 (#E-4)10 Cent Circulated Military Payment Certificate Series 481 (#E-4) $3.95
2 Military Payment Certificates (Mpc) Series 481 -Ten & Twenty-Five Cents2 Military Payment Certificates (Mpc) Series 481 -Ten & Twenty-Five Cents $5.00
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Prices current as of last update, 01/16/17 8:10am.

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