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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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Ac Mpc series 692 10 cent Replacement Note VfAc Mpc series 692 10 cent Replacement Note Vf $74.99 Usa 1968, Military Series 661, Vietnam War 10 Dollars, M70, Mpc-77,Plate#49, VfUsa 1968, Military Series 661, Vietnam War 10 Dollars, M70, Mpc-77,Plate#49, Vf $788.00
$15.00 United States Military Payment Certificates Series 521 641 692 Set of 5United States Military Payment Certificates Series 521 641 692 Set of 5 $10.51
10¢ Military Payment Cert. Series 481 Replacement note!10¢ Military Payment Cert. Series 481 Replacement note! $449.99 25 Cent Series 641 Military Payment Certificate Gem Cu25 Cent Series 641 Military Payment Certificate Gem Cu $34.95
Set of 2 Usmpc Series 541 5 cents and 10 cents both notes xfSet of 2 Usmpc Series 541 5 cents and 10 cents both notes xf $29.95 1951-54 10 Cent Series 481 Military Payment Certificate Very Good1951-54 10 Cent Series 481 Military Payment Certificate Very Good $129.00
*Series 541 5 Cent Mpc - Beautiful Gem Cu !**Series 541 5 Cent Mpc - Beautiful Gem Cu !* $13.50 Us Military Payment Certificate 10 Cents,Series 591,# G03289787GUs Military Payment Certificate 10 Cents,Series 591,# G03289787G $12.50
Usa/Mpc … P-M2 … 10 Cents … Series 461 … *Xf-Au*Usa/Mpc … P-M2 … 10 Cents … Series 461 … *Xf-Au* $47.00 4 Ten Sen Series 100 Military Currency4 Ten Sen Series 100 Military Currency $8.99
1947 10 cent Military Payment Certificate Series 471 77 Choice Unc Nice Note1947 10 cent Military Payment Certificate Series 471 77 Choice Unc Nice Note $75.00 Www2 "Alliance" Military money-Germany,Italy,Franc eWww2 "Alliance" Military money-Germany,Italy,Franc e $29.99
*Series 641 $1.00 Mpc - Beautiful Gem Cu !**Series 641 $1.00 Mpc - Beautiful Gem Cu !* $20.00 1951 25 cents Military Payment Certificate Choice Au Very Nice Note Series 4811951 25 cents Military Payment Certificate Choice Au Very Nice Note Series 481 $75.00
United States (Usa Mpc) . P-M28 . 10 Dollars . Serie 481(1951) . *Vg+*United States (Usa Mpc) . P-M28 . 10 Dollars . Serie 481(1951) . *Vg+* $125.00 1951-1954 Us Military Payment Certificate Ten Cents Series 481 Kl# M231951-1954 Us Military Payment Certificate Ten Cents Series 481 Kl# M23 $1.99
Jc&C - Extremely Rare Military Payment Certificate ( Mpc ) Series 471 $5 - Au 50Jc&C - Extremely Rare Military Payment Certificate ( Mpc ) Series 471 $5 - Au 50 $2,400.00 Rare Aafes 14th Printing 10 Cent Pogs Set of 13 Circulated RareRare Aafes 14th Printing 10 Cent Pogs Set of 13 Circulated Rare $9.99
$1.00 One Dollar United States Military Payment Certificate series 641$1.00 One Dollar United States Military Payment Certificate series 641 $8.00 Military Payment Certificate Series 541 5C Pmg Gem Unc 66 Epq * Mpc * 222FMilitary Payment Certificate Series 541 5C Pmg Gem Unc 66 Epq * Mpc * 222F $54.00
*1951 Military Payment Certificate, 10 Cents, Series 481,free shipping*1951 Military Payment Certificate, 10 Cents, Series 481,free shipping $5.00 Usa-Mpc … P-M57 … 5 Cents … Nd(1965) … *Vf+*Usa-Mpc … P-M57 … 5 Cents … Nd(1965) … *Vf+* $12.00
Us Military Payment 1 Dollar Series 521, 2/26/17Us Military Payment 1 Dollar Series 521, 2/26/17 $39.00 * Series 541 50 Cent Replacement Mpc - Beautiful F+! ** Series 541 50 Cent Replacement Mpc - Beautiful F+! * $49.99
10 Cents Military Payment Certificate Series 591 Note Unc10 Cents Military Payment Certificate Series 591 Note Unc $11.50 Aafes pog from Iraq 5 cent 2004Aafes pog from Iraq 5 cent 2004 $6.50
Mpc - $0.05 - Series 661 - Plate 84 - Pcgs 66 Gem New PpqMpc - $0.05 - Series 661 - Plate 84 - Pcgs 66 Gem New Ppq $79.95 Series 641 $10 Military Payment Certificate - Pcgs Very Choice New 64PpqSeries 641 $10 Military Payment Certificate - Pcgs Very Choice New 64Ppq $139.00
Germany Heidelberg Chase Manhattan Military Bank Facility Check UnusedGermany Heidelberg Chase Manhattan Military Bank Facility Check Unused $17.99 *Series 472 $.50 Cent Mpc - Beautiful Gem Cu !**Series 472 $.50 Cent Mpc - Beautiful Gem Cu !* $34.00
Us Mpc Series 611 1 Dollar P-M54r scarce replacement f- graffitiUs Mpc Series 611 1 Dollar P-M54r scarce replacement f- graffiti $152.10 Was: Previous Price $169.00 $1.00 Mpc *Series 611* -Au- Replacement Note!$1.00 Mpc *Series 611* -Au- Replacement Note! $199.99
military payment note 1 dollarmilitary payment note 1 dollar $5.00 1954-1958 Us Military Payment Certificate Five Cents Series 521 Kl# M291954-1958 Us Military Payment Certificate Five Cents Series 521 Kl# M29 $1.99
$1.00 United States Military Payment Certificate 1947$1.00 United States Military Payment Certificate 1947 $15.00 10 Cent United States Military Payment Certificate10 Cent United States Military Payment Certificate $9.99
Usa Military Payment Certeficate 5 Cents 1954 Serie 521 Look ScansUsa Military Payment Certeficate 5 Cents 1954 Serie 521 Look Scans $4.99 Complete Aafes 15th Printing 5 , 10, and 25 Pogs Sets Uncirculated Efi NaafiComplete Aafes 15th Printing 5 , 10, and 25 Pogs Sets Uncirculated Efi Naafi $44.99
Lot of Three Military Payment CertificatesLot of Three Military Payment Certificates $3.24 Usa Military Payment Certeficate 1 Dollar 1954 Serie 521 Look ScansUsa Military Payment Certeficate 1 Dollar 1954 Serie 521 Look Scans $19.99
1946 Japan, 10 Yen Military Currency Note,"A" Circulated* Free U.S. Shipping *1946 Japan, 10 Yen Military Currency Note,"A" Circulated* Free U.S. Shipping * $40.00 Series 591 $10 Mpc Military Payment Certificate - Awesome Pcgs About New 53 PpqSeries 591 $10 Mpc Military Payment Certificate - Awesome Pcgs About New 53 Ppq $1,299.00
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Prices current as of last update, 03/21/17 6:53am.

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