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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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$10 Series 472 Military Payment Certificate Usa Pcgs Very Fine 25Ppq$10 Series 472 Military Payment Certificate Usa Pcgs Very Fine 25Ppq $99.00 Us Mpc Series 541 1 Dollar Replacement, 1958, Vf-Pmg25, Rare, M40Us Mpc Series 541 1 Dollar Replacement, 1958, Vf-Pmg25, Rare, M40 $999.00
10 Sen Military Payment Certificate Series 100 serial #A08180146A #7980 glcw10 Sen Military Payment Certificate Series 100 serial #A08180146A #7980 glcw $1.49 1954-58 Military Payment Certificate - $1.00 Note - Series #521954-58 Military Payment Certificate - $1.00 Note - Series #52 $39.95
Lot Of 30 Aafes Military Pogs 2006, 2007, 2008 Gift CertificatesLot Of 30 Aafes Military Pogs 2006, 2007, 2008 Gift Certificates $7.99 Set of 2 Usmpc Series 541 5 cents-small black dot by mouth,10 cents both Au-Unc.Set of 2 Usmpc Series 541 5 cents-small black dot by mouth,10 cents both Au-Unc. $44.95 Was: $49.95
Mpc 471 Set Us Military Payment Certificates France Germany England Eu Old MoneyMpc 471 Set Us Military Payment Certificates France Germany England Eu Old Money $29.99 U.S. Military Payment Certificate Five Cents Series 481 CirculatedU.S. Military Payment Certificate Five Cents Series 481 Circulated $6.97
Series 661 10 Cents Mpc Military Payment CertificateSeries 661 10 Cents Mpc Military Payment Certificate $39.99 Aafes 2006 9th Printing 10 Cent Pogs Complete Set of 13 RareAafes 2006 9th Printing 10 Cent Pogs Complete Set of 13 Rare $14.99
Five Cent Military Payment Certificate *Series 641* Very Nice Note!Five Cent Military Payment Certificate *Series 641* Very Nice Note! $6.99 Ten Cents Military Payment Certificate Series 521Ten Cents Military Payment Certificate Series 521 $1.99
50¢ Us Military Payment Certificate Vietnam War Mpc 661 Armed Forces Army Marine50¢ Us Military Payment Certificate Vietnam War Mpc 661 Armed Forces Army Marine $14.95 Usa / Mpc 10 Cents Series 461 Run 17 circulated Banknote N20Usa / Mpc 10 Cents Series 461 Run 17 circulated Banknote N20 $4.95
1954 -3- Military Certificate 50,25,10 Series 5211954 -3- Military Certificate 50,25,10 Series 521 $16.00 Military Payment Certificate Series 661 $1 Superb Gem Pmg Ms 67 EpqMilitary Payment Certificate Series 661 $1 Superb Gem Pmg Ms 67 Epq $269.99
Twenty-Five Cents Military Payment Certificate Series 692Twenty-Five Cents Military Payment Certificate Series 692 $5.99 Usa United States 10 Dollars Mpc 472 Money Military Payment Certificate Usa NoteUsa United States 10 Dollars Mpc 472 Money Military Payment Certificate Usa Note $79.99
$10 Series 521 Military Payment Certificate Usa Pmg 15 Choice Fine Net$10 Series 521 Military Payment Certificate Usa Pmg 15 Choice Fine Net $199.00 1940s-1960s Us Military Payment Certificates Set of 8 Mpcs! Old Currency!1940s-1960s Us Military Payment Certificates Set of 8 Mpcs! Old Currency! $10.50
5 Cents Military Payment Certificate, Nice Low Priced Bill for any collection5 Cents Military Payment Certificate, Nice Low Priced Bill for any collection $4.95 1944 Allied Military Payment Certificate 10 German Mark * Replacement Note!1944 Allied Military Payment Certificate 10 German Mark * Replacement Note! $0.99
$10 Usa Military Pay Certificates Trio Ten Dollars Mpc 461 Germany Japan England$10 Usa Military Pay Certificates Trio Ten Dollars Mpc 461 Germany Japan England $198.50 Military Payment Certificate, Series 641 5 Cent, Vietnam Era, Gem New 66PpqMilitary Payment Certificate, Series 641 5 Cent, Vietnam Era, Gem New 66Ppq $28.00
Usa 10 Cents Pm76 1968-1970 Series 681 Military Payment Mpc Money Bill FreeShipUsa 10 Cents Pm76 1968-1970 Series 681 Military Payment Mpc Money Bill FreeShip $22.99 10 Sen Military Certificate B-Series 10010 Sen Military Certificate B-Series 100 $11.00
Usa Military Payment Certificate 481 Series 10 Cents VfUsa Military Payment Certificate 481 Series 10 Cents Vf $0.99 Military Payment Certificate $10 Mpc Series 641 Choice Xf Crispness Old CurrencyMilitary Payment Certificate $10 Mpc Series 641 Choice Xf Crispness Old Currency $6.50
Series 481 Five Cents Military Payment CertificateSeries 481 Five Cents Military Payment Certificate $7.95 United States 10 Cents P M76 Series 681 UncUnited States 10 Cents P M76 Series 681 Unc $37.99
1940s Allied Military Payment Certificates World War Ii Set of 5! Old Currency!1940s Allied Military Payment Certificates World War Ii Set of 5! Old Currency! $3.25 Assorted lot of 12 Mpc Good to Very GoodAssorted lot of 12 Mpc Good to Very Good $8.50
Japanese 100 Peso Autographed By Flying Tiger Charlie Bond? auction k3Japanese 100 Peso Autographed By Flying Tiger Charlie Bond? auction k3 $45.00 Series 591 Military Payment Certificate Five Cent Note Pcgs About New 58 Ppq (+)Series 591 Military Payment Certificate Five Cent Note Pcgs About New 58 Ppq (+) $85.00
Set of 3 Us Mpc Series 692 5 Cents Au, 25 Cents xf-au small hole, 10 cents AuSet of 3 Us Mpc Series 692 5 Cents Au, 25 Cents xf-au small hole, 10 cents Au $62.99 Was: $69.99 1965-1968 Military Payment Certificate Vietnam War! Choice Xf Old Us Currency!1965-1968 Military Payment Certificate Vietnam War! Choice Xf Old Us Currency! $3.75
Us Military Payment 1 Dollar Series 541 Nd-1958 M-40 Vintage Mpc CertificateUs Military Payment 1 Dollar Series 541 Nd-1958 M-40 Vintage Mpc Certificate $4.25 Military Payment Certificate Choice Xf Series 471 "Twenty Five Cents"! High CatMilitary Payment Certificate Choice Xf Series 471 "Twenty Five Cents"! High Cat $1.81
5¢ Us Military Payment Certificate Vietnam War Mpc 661 Navy Army Marines Air For5¢ Us Military Payment Certificate Vietnam War Mpc 661 Navy Army Marines Air For $13.50 United States Of America *Replacement* Usa $1 Pm68 1968 Military Payment Mpc 661United States Of America *Replacement* Usa $1 Pm68 1968 Military Payment Mpc 661 $999.99
United States Military Payment Certificate 5 Cents 1946 P-M1 F Mpc Serie 461United States Military Payment Certificate 5 Cents 1946 P-M1 F Mpc Serie 461 $7.50 Usa United States 10 Cents Pm58 1965 Mpc Eagle Ser.641 Military Payment BillnoteUsa United States 10 Cents Pm58 1965 Mpc Eagle Ser.641 Military Payment Billnote $5.99
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Prices current as of last update, 08/19/16 3:00pm.

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