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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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1945 Japan 1 Yen Military Payment Certificate *P-67a* *Xf *1945 Japan 1 Yen Military Payment Certificate *P-67a* *Xf * $2.81 Was: $3.75 Series 461 $.25 Military Payment Certificate [Mpc] Pcgs 64 Ppq Very Choice NewSeries 461 $.25 Military Payment Certificate [Mpc] Pcgs 64 Ppq Very Choice New $219.00
(23) Consecutive Series 541 5 Cents Mpc Military Payment Certificates Gem Unc(23) Consecutive Series 541 5 Cents Mpc Military Payment Certificates Gem Unc $499.95 Usa Military Payment Certificates 10 cents series 481Usa Military Payment Certificates 10 cents series 481 $4.99
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 Series 661 $1 Military Payment Certificate Pcgs Gem New 65 Ppq UncirculatedSeries 661 $1 Military Payment Certificate Pcgs Gem New 65 Ppq Uncirculated $90.00
Iceland Ww2 Ships Service Camp Knox Chit booklet 10,25 Aurar, 1 Krona ScarceIceland Ww2 Ships Service Camp Knox Chit booklet 10,25 Aurar, 1 Krona Scarce $319.99 1 Complete Set of Military
00004000
 Mini-Fest Certificates-2005 Colorado Springs 5c-$20!1 Complete Set of Military 00004000 Mini-Fest Certificates-2005 Colorado Springs 5c-$20! $6.99
$1.00 Mpc *Series 611* -Au- Replacement Note!$1.00 Mpc *Series 611* -Au- Replacement Note! $199.99 Usa-Mpc….P-M30….10 Cents….Nd(1954)….*Vf/ Xf*Usa-Mpc….P-M30….10 Cents….Nd(1954)….*Vf/ Xf* $6.50
Wwii Allied Military Currency ~ Italy 1 Lira Paper Money ~ Series 1943Wwii Allied Military Currency ~ Italy 1 Lira Paper Money ~ Series 1943 $12.00 Us Mpc Series 651, 5 Dollars,First Printing, Gem Unc-Pmg66Epq, S896-1Us Mpc Series 651, 5 Dollars,First Printing, Gem Unc-Pmg66Epq, S896-1 $270.00
10¢ Military Payment Cert. Series 481 Replacement note!10¢ Military Payment Cert. Series 481 Replacement note! $449.99 Set Of Two 1965 Usa Military Certificate $10 Series 641Set Of Two 1965 Usa Military Certificate $10 Series 641 $59.99
Mpc 611 Five Cent Pmg Superb Gem 69 EpqMpc 611 Five Cent Pmg Superb Gem 69 Epq $299.00 Us Military Payment Series 471 5 Cents 10 Cents Lot of 4Us Military Payment Series 471 5 Cents 10 Cents Lot of 4 $20.00
United States Military Payment Mpc 5 Cents 1954-1958 Series 521 Pm29 #094United States Military Payment Mpc 5 Cents 1954-1958 Series 521 Pm29 #094 $9.99 Vintage Military Certificate - Series 591 - 25 centsVintage Military Certificate - Series 591 - 25 cents $8.99
Mpc Military Payment Certificate Series 611 1$ Currency NoteMpc Military Payment Certificate Series 611 1$ Currency Note $45.00 4 different High Denomination Military Mini-Fest Certificates-Colorado Springs4 different High Denomination Military Mini-Fest Certificates-Colorado Springs $6.99
Military Payment Certificates Series 651 $1 Pmg 67 Epq Superb Gem UncirculatedMilitary Payment Certificates Series 651 $1 Pmg 67 Epq Superb Gem Uncirculated $200.00 Us Mpc Series 661 10 cents P-M65 Au-Unc.Us Mpc Series 661 10 cents P-M65 Au-Unc. $17.99 Was: $19.99
Military Payment Certificate Series 481 10 Cent Pcgs 66Ppq Beautiful Artwork-GemMilitary Payment Certificate Series 481 10 Cent Pcgs 66Ppq Beautiful Artwork-Gem $59.95 Series 661 $5 Military Payment Certificate Pcgs 66 Ppq Gem New UncirculatedSeries 661 $5 Military Payment Certificate Pcgs 66 Ppq Gem New Uncirculated $170.00
1970 Us, Mpc(Military Payment Certificate), Series 692, 25cents, Xf+ ~ Au1970 Us, Mpc(Military Payment Certificate), Series 692, 25cents, Xf+ ~ Au $70.00 *1965 Military Payment Certificate 5 Cents Series 611 Good*1965 Military Payment Certificate 5 Cents Series 611 Good $16.00
1948 U.S. Military Payment Certificate One 1 Dollar Money Paper Note Bill1948 U.S. Military Payment Certificate One 1 Dollar Money Paper Note Bill $4.99 Us Mpc Series 472 5 cents P-M15 nice AuUs Mpc Series 472 5 cents P-M15 nice Au $17.09 Was: $18.99
Series 472 1948-51 10 Cent Military Payment Certificate Note VfSeries 472 1948-51 10 Cent Military Payment Certificate Note Vf $150.00 Rare $5 Mpc Series 611 1St Printing Graded Pmg Vf20 Military Payment CertificateRare $5 Mpc Series 611 1St Printing Graded Pmg Vf20 Military Payment Certificate $199.00
Us United States Lot P-M91-M95 1970 5 Cents - 1 Dollar Unc Series 692 SetUs United States Lot P-M91-M95 1970 5 Cents - 1 Dollar Unc Series 692 Set $575.00 United States Mpc Series 641 5 Dollars P-M62 4 Pinholes Village Coin BullionUnited States Mpc Series 641 5 Dollars P-M62 4 Pinholes Village Coin Bullion $18.22
Military Payment Certificate 521 Series 25 Cents MpcMilitary Payment Certificate 521 Series 25 Cents Mpc $24.99 Aapes 5 Cent Gift Certificate Military Money Set Of 9Aapes 5 Cent Gift Certificate Military Money Set Of 9 $7.65
Macv Currency Control Plate Usarv Named Ẹ5 Accetturo J. in 1969Macv Currency Control Plate Usarv Named Ẹ5 Accetturo J. in 1969 $75.00 Three Occupied Italy Allied Military Currency BillsThree Occupied Italy Allied Military Currency Bills $17.50
1954-58 5 Cent Military Payment Certificate Vf1954-58 5 Cent Military Payment Certificate Vf $225.00 Mpc 611 Five Cent Replacement Pmg Superb Gem 67 EpqMpc 611 Five Cent Replacement Pmg Superb Gem 67 Epq $399.00
U.S. Navy $2 *Laser Gold Hologram Colorized 2 Dollar U.S.A Gift Legal BillU.S. Navy $2 *Laser Gold Hologram Colorized 2 Dollar U.S.A Gift Legal Bill $22.27 Series 541 5 Dollars One of the Keys! Pmg55 About Unc R only 2 graded higherSeries 541 5 Dollars One of the Keys! Pmg55 About Unc R only 2 graded higher $6,599.99
10 different British Armed Forces Uk military currency notes crisp uncirculated10 different British Armed Forces Uk military currency notes crisp uncirculated $5.99 U.S. Military Payment Certificate 10 Cents Lucky Number 77 Paper Money Note BillU.S. Military Payment Certificate 10 Cents Lucky Number 77 Paper Money Note Bill $11.99
Military Payment Certificate Series 641 10 Cent Pcgs 67PpqMilitary Payment Certificate Series 641 10 Cent Pcgs 67Ppq $45.00 Series 641 10 Cent & 25 Cent Military Payment Certificate Pcgs Gem New 65Ppq & 6Series 641 10 Cent & 25 Cent Military Payment Certificate Pcgs Gem New 65Ppq & 6 $160.00
United States Military Payment Mpc 10 Cents 1954-1958 Series 521 Pm30 #321United States Military Payment Mpc 10 Cents 1954-1958 Series 521 Pm30 #321 $8.00 Series 641 1965-68 25 Cent Military Payment Certificate Very FineSeries 641 1965-68 25 Cent Military Payment Certificate Very Fine $39.00
Serial # 1 on a Mpc Fest Series 111 Old Ironside 25 Cent noteSerial # 1 on a Mpc Fest Series 111 Old Ironside 25 Cent note $77.77 1947 $1.00 Military Payment Certificate Series 4711947 $1.00 Military Payment Certificate Series 471 $135.00
Us Military Payment Series of 1943 A 100 Italy Italian Lire NoteUs Military Payment Series of 1943 A 100 Italy Italian Lire Note $8.00
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Prices current as of last update, 11/30/16 8:40am.

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