Military Payment Certificates
Military Payment Certificates
Issued by and for use by the U.S. Armed Forces and certain civilian personnel ostensibly in lieu of U.S. currency, Military Payment Certificates, aka (MPC) were in use from the end of World War II to 1973. The concept of MPC, essentially a form of scrip, (a substitute for currency which is not legal tender) was designed to fend off black market trafficking in occupied areas and at U.S. Military installations.
Exchangeable only by individuals and personnel to whom its issue was authorized, each of the various Series of MPC replaced the next with no advanced notice, leaving the former worthless which led to non-acceptance by local unauthorized civilians.
The circumstances of low military pay rates during the period of MPC use coupled with the fact that MPC held no redemption value, it is quite understandable that there are very rare cases of high denomination notes in an uncirculated condition.
MPC was issued in fractional denominations of 5¢ up to $20 and included some replacement notes similar to that of Star Notes, MPC replacement notes are designated by a lack of suffix letter in the serial number and are highly sought after.
The MPC Series are as follows:
Series 461 - Issued: European Theater; Sept. 16, 1946 and Pacific Theater, Sept. 30, 1946 Withdrawn: Mar. 10, 1947
Series 471 - Issued: Mar. 10, 1947 - European and Pacific Theaters Withdrawn: Mar. 22, 1948
Series 472 – Issued: Mar. 22, 1948 - European and Pacific Theaters Withdrawn: Jun. 20, 1951
Series 481 – Issued: Jun. 20, 1951 - European and Pacific Theaters Withdrawn: May 25, 1954
Series 521 – Issued: May 25, 1954 - European and Pacific Theaters Withdrawn: May 27, 1958
Series 541 – Issued: May 27, 1958 - European and Pacific Theaters Withdrawn: May 26, 1961
Series 591 – Issued: May 26, 1961 - Pacific Theater and Iceland and Cyprus Withdrawn: Pacific: Jan. 6, 1964 and Europe: Jan. 14, 1946
Series 611 – Issued: Jan. 6, 1964 - Japan, Korea, Cyprus and Libya Withdrawn: Apr. 28, 1969
Series 641 – Issued: Aug. 31, 1965 - Vietnam Withdrawn: Oct. 21, 1968
Series 651 – Issued: Apr. 28, 1969 - Libya, Korea and Japan Withdrawn: Japan, May 19, 1969 - Libya, Jun. 11, 1969 and Korea, Nov. 19, 1973
Series 661 – Issued: Oct. 21, 1968 - Vietnam Withdrawn: Aug. 11, 1969
Series 681 – Issued: Aug. 11, 1969 - Vietnam Withdrawn: Oct. 7, 1970
Series 691 – Printed but never released into circulation
Series 692 – Issued: Oct. 7, 1970 - Vietnam Withdrawn: Fractional denominations: Jun. 1, 1971; Dollar denominations: Mar. 15, 1973
Series 701 – Printed but never released into circulation
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