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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 Pair of 5 Cents Notes series 641& 481
		
				Us Military Payment Certificate Pair of 5 Cents Notes series 641& 481 $0.99 
					Military Payment Certificates / 5 Cents & 10 Cents / Series 521
		
				Military Payment Certificates / 5 Cents & 10 Cents / Series 521 $5.50

					14th Print Set 5 Cent Aafes Pogs 2010 printing Au. Condition All 12 pogs
		
				14th Print Set 5 Cent Aafes Pogs 2010 printing Au. Condition All 12 pogs $10.50 
					14th Print Set 25 Cent Aafes Pogs 2010 printing All 13 pogs 
		
				14th Print Set 25 Cent Aafes Pogs 2010 printing All 13 pogs $12.45

					10¢ Us Military Payment Certificate Korean War Mpc 541 Navy Marines Air Force
		
				10¢ Us Military Payment Certificate Korean War Mpc 541 Navy Marines Air Force $7.39 
					(5) Five Cents Military Payment Certificate Series 641
		
				(5) Five Cents Military Payment Certificate Series 641 $15.99

					 3rd Special Edition Issue (British) Efi Pogs Set from 2010 ! 2 Sets !
		
				3rd Special Edition Issue (British) Efi Pogs Set from 2010 ! 2 Sets ! $2.75 
					Allied Military Currency Germany 1 Mark Crisp Ww2 Amc World War Europe Money
		
				Allied Military Currency Germany 1 Mark Crisp Ww2 Amc World War Europe Money $5.99
$6.49 
					1946 Usa Military Certificate, $10 » Cv $200 « Series 461 ~Rare~
		
				1946 Usa Military Certificate, $10 » Cv $200 « Series 461 ~Rare~ $5.25

					Us Military Payment Cert (Mpc).10 Cents.Snb04852790B
		
				Us Military Payment Cert (Mpc).10 Cents.Snb04852790B $8.50 
					Mpc Vietnam Era $10 series 651 Pmg Graded Gem Uncirculated 65 Epq
		
				Mpc Vietnam Era $10 series 651 Pmg Graded Gem Uncirculated 65 Epq $145.65

					7th Print Set 5 Cent Aafes Pogs 2005B printing Uncircuted / New All 12 pogs
		
				7th Print Set 5 Cent Aafes Pogs 2005B printing Uncircuted / New All 12 pogs $14.50 
					Series 481 10 Cent Mpc W/ More 9
		
				Series 481 10 Cent Mpc W/ More 9 $3.99

					10c Japaneese Occupation Military Scrip Phillipines Banded Pack Of 100
		
				10c Japaneese Occupation Military Scrip Phillipines Banded Pack Of 100 $1,500.00 
					1st Print Set of Aafes Pogs 2001 printing Au. Condition All 3 pogs
		
				1st Print Set of Aafes Pogs 2001 printing Au. Condition All 3 pogs $7.95

					Military Payment Certificates 5 old notes (backs ok)
		
				Military Payment Certificates 5 old notes (backs ok) $10.50 
					1st Print 6 out of 12 (British) Efi 25 Cents Pogs from 2004
		
				1st Print 6 out of 12 (British) Efi 25 Cents Pogs from 2004 $32.50

					Us 10 Cents 1954 Series 481 Military Vf Banknote P-M23
		
				Us 10 Cents 1954 Series 481 Military Vf Banknote P-M23 $13.99 
					5th Print Set 10 Cent Aafes Pogs 2004 printing Au. Condition All 12 pogs
		
				5th Print Set 10 Cent Aafes Pogs 2004 printing Au. Condition All 12 pogs $12.95

					1964 Usa Military Certificate, $1 » Cv $80 « Series 611
		
				1964 Usa Military Certificate, $1 » Cv $80 « Series 611 $4.25 
					Military Payment Certificate "One Dollar" 661 Series
		
				Military Payment Certificate "One Dollar" 661 Series $12.00

					Military Payment Certificates $10 Series 461
		
				Military Payment Certificates $10 Series 461 $15.51 
					5 Ruppees Japanese invasion of Burma.Rare!*
		
				5 Ruppees Japanese invasion of Burma.Rare!* $5.99

					Military Payment Certif
2000
icates 5 old notes (backs ok)
		
				Military Payment Certif 2000 icates 5 old notes (backs ok) $4.24 
					Military Payment Certificate Series 641 25 Cents J02781919J
		
				Military Payment Certificate Series 641 25 Cents J02781919J $10.99

					Vintage American Bank Note Co. Engraving: Admiral David Farragut Us Navy
		
				Vintage American Bank Note Co. Engraving: Admiral David Farragut Us Navy $0.99 
					Italy 100 Lire 1943 Banknote P-M21a Amc Allied Military Currency Ww2 Old Money
		
				Italy 100 Lire 1943 Banknote P-M21a Amc Allied Military Currency Ww2 Old Money $6.14

					25¢ Us Military Payment Certificate Europe Asia Mpc 461 France Germany Japan
		
				25¢ Us Military Payment Certificate Europe Asia Mpc 461 France Germany Japan $4.99 
					5th Print Set of 5 Cent Aafes Pogs 2004 printing Uncirculated All 13 pogs
		
				5th Print Set of 5 Cent Aafes Pogs 2004 printing Uncirculated All 13 pogs $14.95

					Us 5 Cents 1948 Series 472 Military Vf Banknote P-M15
		
				Us 5 Cents 1948 Series 472 Military Vf Banknote P-M15 $12.50 
					Series 692 5 Cent Mpc W/ More 10
		
				Series 692 5 Cent Mpc W/ More 10 $2.99

					 # 1 of 497 Aafes Pogs 2001 printing Au. Condition 3 Ea. pogs
		
				# 1 of 497 Aafes Pogs 2001 printing Au. Condition 3 Ea. pogs $2.95 
					U.S.A. Military Payment Certificate. Series 481- 5 Cents D11911886D / D01336804D
		
				U.S.A. Military Payment Certificate. Series 481- 5 Cents D11911886D / D01336804D $7.00

					United States Banknotes, Etats-Unis, 25 Cents type Series 472
		
				United States Banknotes, Etats-Unis, 25 Cents type Series 472 $23.00 
					Vintage United States Military Payment Certificate Series 641 Ten Cents
		
				Vintage United States Military Payment Certificate Series 641 Ten Cents $4.99

					5¢ Us Military Payment Certificate England France Germany Italy Japan Mpc 461
		
				5¢ Us Military Payment Certificate England France Germany Italy Japan Mpc 461 $3.39 
					Italy: 10 Lire Allied Military Currency A 03593029 B
		
				Italy: 10 Lire Allied Military Currency A 03593029 B $10.00

					Military Payment Certificates group of 4 old notes 
		
				Military Payment Certificates group of 4 old notes $4.25
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Prices current as of last update, 07/20/13 3:29am.

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