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A few ‘notes’ about Military Payment Certificates (MPCs)

Exciting and historical MPC information follows: No two notes are identical; each is unique

As a military veteran of the United State Navy, I recall receiving my pay with Military Payment Certificates, fondly known by us GIs as MPCs, and spending these MPCs at the base PX. I am an MPC Collector and I think that these beautifully engraved Military Payment Certificates are some of most artistic pieces of currency ever made.

The United States military devised the MPC program immediately following World War II. In post war Europe, US dollars became very valuable due to the high inflation rates of local currencies. Hence, US servicemen stationed overseas could purchase very high value items for relatively small numbers of US dollars.

To overcome this problem and help stabilize foreign economies, MPCs were developed and used from the time immediately following World War II until about the end of the Vietnam War (1946-1973). In the opinion of many military veterans and collectors like me, MPCs include some of the most beautiful currency notes the US has ever printed. I look at these currency notes and see not only the financial impact they made for me but the military, political and social environments surrounding them.

MPCs are paper money in cent denominations of 5, 10, 25 and 50 and dollar denominations of 1, 5, 10, and 20. The MPC Program was at its peak during the Vietnam War.

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