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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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Pcgs Military Payment Certs X's 6 Pcs All Pcgs All Consec.Numbers Hi-Grade C725Pcgs Military Payment Certs X's 6 Pcs All Pcgs All Consec.Numbers Hi-Grade C725 $300.00 Usa Mpc Series 611 5 Cent Superb Gem Unc Epq Pmg 67 First PrintingUsa Mpc Series 611 5 Cent Superb Gem Unc Epq Pmg 67 First Printing $325.00
Us Military Payment Certificate 5 Cents,Series 461,A02980021AUs Military Payment Certificate 5 Cents,Series 461,A02980021A $8.09 Was: $8.99 Us Military Payment 1 Dollar Series 521 - 498EUs Military Payment 1 Dollar Series 521 - 498E $45.00
United States Military Payment CertificateUnited States Military Payment Certificate $149.95 Military Payment Certificate - 68 - Series 692 - Twenty Five Cent - Eo7259276EMilitary Payment Certificate - 68 - Series 692 - Twenty Five Cent - Eo7259276E $6.50
Series 661 $1 Military Payment Certificate - Pcgs NewSeries 661 $1 Military Payment Certificate - Pcgs New $49.99 2E5 B-52 5 Cents Aafes Pogs About Uncicculated2E5 B-52 5 Cents Aafes Pogs About Uncicculated $10.50
Japan Foreign Trade Payemnt Certificates 5 Pieces Set Sb 1001-05 Red page 326 RrJapan Foreign Trade Payemnt Certificates 5 Pieces Set Sb 1001-05 Red page 326 Rr $3,999.99 2014 Intaglio Print Defenders of Freedom Coast Guard2014 Intaglio Print Defenders of Freedom Coast Guard $74.95
Japan Series 100 "A" 50 Sen Pick 64 Rare Replacement VfJapan Series 100 "A" 50 Sen Pick 64 Rare Replacement Vf $1,899.99 Us Mpc Series 591 5 Dollars,First Printing,1961, F-Pmg15, Very Rare, S866-1Us Mpc Series 591 5 Dollars,First Printing,1961, F-Pmg15, Very Rare, S866-1 $599.00
Usa Mpc Series 661 10 Cent Superb Gem Unc Epq Pmg 67 - First Printing !Usa Mpc Series 661 10 Cent Superb Gem Unc Epq Pmg 67 - First Printing ! $300.00 Taegu Korea Bank Of America Military Bank Check Valid In Mpc Only UnusedTaegu Korea Bank Of America Military Bank Check Valid In Mpc Only Unused $23.99
Usa Military Payment Certeficate 1 Dollar 1954 Serie 521 Look ScansUsa Military Payment Certeficate 1 Dollar 1954 Serie 521 Look Scans $19.99 1969-70 5 Cent Vietnam Issue Gem Crisp Uncirculated1969-70 5 Cent Vietnam Issue Gem Crisp Uncirculated $18.99
An Khe Viet Nam Military Bank Check Valid In Mpc Only UnusedAn Khe Viet Nam Military Bank Check Valid In Mpc Only Unused $23.99 Series 481 Military Payment Certificate 10 CentsSeries 481 Military Payment Certificate 10 Cents $12.00
Usa Military Payment Certeficate 5 Cents 1954 Serie 521 Look ScansUsa Military Payment Certeficate 5 Cents 1954 Serie 521 Look Scans $4.99 Japan Foreign Trade Payment Certificate Schwan Boling page 326 5 Cents Sb 1021Japan Foreign Trade Payment Certificate Schwan Boling page 326 5 Cents Sb 1021 $750.00
Military Payment Certs X's 4 Pcs All Pmg All Consec.Numbers Hi-Grade C685Military Payment Certs X's 4 Pcs All Pmg All Consec.Numbers Hi-Grade C685 $750.00 1958 Us Military Payment Certificate $5 Vf-25 Pmg Mpc Series 541 P.Sm411958 Us Military Payment Certificate $5 Vf-25 Pmg Mpc Series 541 P.Sm41 $2,495.00
Post Ww2 Austria Vienna Tuxedo Club 50 Groscheen ice cream bar chitPost Ww2 Austria Vienna Tuxedo Club 50 Groscheen ice cream bar chit $89.99 Ww2 Espiritu Santo Naval Officers' Club 5 Cent, 10 Cent, 25 Cent chits originalWw2 Espiritu Santo Naval Officers' Club 5 Cent, 10 Cent, 25 Cent chits original $84.99
Series 591 (U S Military Payment Certificate) 5c Note 7850Series 591 (U S Military Payment Certificate) 5c Note 7850 $8.00 Japan Foreign Trade Payment Certificate Schwan Boling page 326 #1001 Black UncJapan Foreign Trade Payment Certificate Schwan Boling page 326 #1001 Black Unc $750.00
Austria Post Ww2 American Zone command chit good for One Ice Cream RationAustria Post Ww2 American Zone command chit good for One Ice Cream Ration $89.99 Germany Heidelberg Chase Manhattan Military Bank Facility Check UnusedGermany Heidelberg Chase Manhattan Military Bank Facility Check Unused $23.99
Series 681 $5 Military Payment Certificate Mpc Pcgs 55 Ppq Choice About NewSeries 681 $5 Military Payment Certificate Mpc Pcgs 55 Ppq Choice About New $149.00 Japan Amc Series 100 "B" 1 Yen Pick 67 Replacement FineJapan Amc Series 100 "B" 1 Yen Pick 67 Replacement Fine $119.99
Japan Foreign Trade Payment Certificates Schwan Boling page 326 5 Cents Red UncJapan Foreign Trade Payment Certificates Schwan Boling page 326 5 Cents Red Unc $600.00 Mpc Series 472 5 Cents Clean About UncMpc Series 472 5 Cents Clean About Unc $6.99
Military Payment Certificate 5 Cent Note Series 471Military Payment Certificate 5 Cent Note Series 471 $4.99 Japan Post Ww2 nodate Series 100 "A" 1 Yen Pick 66 Replacement Nice EfJapan Post Ww2 nodate Series 100 "A" 1 Yen Pick 66 Replacement Nice Ef $675.00
Usa Military Certificate 1 Dollar Series 481 Note! VgfUsa Military Certificate 1 Dollar Series 481 Note! Vgf $9.00 Logex $10 Payment Certificate Ft. Lee Va. Logistical Exercise Series 542 UnusedLogex $10 Payment Certificate Ft. Lee Va. Logistical Exercise Series 542 Unused $19.99
Us Mpc Series 541, 5 Dollars First Printing,1958, F-Pmg12, Very Rare, S856-1Us Mpc Series 541, 5 Dollars First Printing,1958, F-Pmg12, Very Rare, S856-1 $999.00 Series 461~ Two 10-Cent Military Payment CertificateSeries 461~ Two 10-Cent Military Payment Certificate $39.95
Japan Amc Post Ww2 Series 100 "A" 10 Yen Pick 70 EfJapan Amc Post Ww2 Series 100 "A" 10 Yen Pick 70 Ef $99.99 Japan Foreign Trade Payment Certificates Schwan Boling page 326 Pair 10 centsJapan Foreign Trade Payment Certificates Schwan Boling page 326 Pair 10 cents $1,300.00
Japan Post Ww2 Series 100 "A" 1 Yen Pick 66 Replacement Fine ScarceJapan Post Ww2 Series 100 "A" 1 Yen Pick 66 Replacement Fine Scarce $399.99 Japan Series 100 "A" 50 Sen Pick 64 Rare Replacement Clip stain but Unc !Japan Series 100 "A" 50 Sen Pick 64 Rare Replacement Clip stain but Unc ! $2,150.00
2H10 Troops around an Artillery piece 10 Cents Aafes Pogs circulated2H10 Troops around an Artillery piece 10 Cents Aafes Pogs circulated $13.50 Usmpc 20 Dollars P-M82b Series 681 nice f - vfUsmpc 20 Dollars P-M82b Series 681 nice f - vf $89.99 Was: $99.99
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Prices current as of last update, 05/18/16 3:30am.

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