Military Payment Certificates
Military Payment Certificates (MPC) evolved from something known as “Allied Military Currency” because of the large amount of US Dollars that were going around Europe because of the US Servicemen. The local curencies stability was very unclear and so was the fate of their government. Therefore preferring a stable currency, dollars, they often accepted payment in dollars for less than the accepted conversion rates.
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.
The Military payment Certificate was created to help stabilize the local economy by offering a medium that was not dollars. The Military Payment Certificates were in dollar increments and were still valued by the local citizens. Also, the Military Payment Certificates were fully convertable to US Dollars upon leaving the combat zone. This meant that GIs could still get their full value for their dollars without sacrificing the local economies of a struggling Europe.
Nowadays, these Military Payment Certificates still exist and are valued by collectors. We found these Military payment certificates for sale while browsing through ebay and wanted to show you what they look like.
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Military Payment Certificate Series 461 CU w/pinholes US $60.00 (0 Bid) End Date: Wednesday Aug-20-2008 11:58:08 PDT |
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1965-1968 Vietnam MPC Note Extra Fine US $50.00 (0 Bid) End Date: Wednesday Aug-20-2008 11:58:10 PDT |
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UNCIRCULATED MILITARY CURRENCY/PAYMENT/FIFTY SEN/JAPAN US $3.00 (0 Bid) End Date: Wednesday Aug-20-2008 13:15:13 PDT |
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1943 Allied Military Currency Italy 2 Lire Average US $1.00 (1 Bid) End Date: Wednesday Aug-20-2008 13:33:16 PDT |
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1942 Fiji Islands Rare WW II 1 Penny Issue George VI US $9.99 (0 Bid) End Date: Wednesday Aug-20-2008 13:46:24 PDT |
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SOUTH VIETNAM SAFE CONDUCT PASS----NGUYEN VAN THIEU US $29.69 (0 Bid) End Date: Wednesday Aug-20-2008 14:04:27 PDT |
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MPC----.$10.00 SERIES 461 PCGS VF-35 US $69.50 (0 Bid) End Date: Wednesday Aug-20-2008 15:04:16 PDT |
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MPC--25ct SERIES 471 PCGS EF-45 PREMIUM PAPER QUALITY US $69.50 (0 Bid) End Date: Wednesday Aug-20-2008 15:09:23 PDT |
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MPC----50ct SERIES 471 PCGS EF-45 US $90.50 (0 Bid) End Date: Wednesday Aug-20-2008 15:13:14 PDT |
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MPC----$1.00 SERIES 471 PCGS EF-45 US $75.50 (2 Bids) End Date: Wednesday Aug-20-2008 15:16:22 PDT |
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MPC----$5.00 SERIES 471 PCGS VF-30 PREMIUM PAPER US $875.50 (0 Bid) End Date: Wednesday Aug-20-2008 15:20:48 PDT |
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MPC----$10.00 SERIES 471 PCGS VF-25 US $325.50 (0 Bid) End Date: Wednesday Aug-20-2008 15:24:29 PDT |
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5 Seriese 641 10 dollar MPC XF lot. US $32.11 (8 Bids) End Date: Wednesday Aug-20-2008 16:37:54 PDT |
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SERIES 461 MILITARY PAYMENT CERTIFICATE $10 MPC US $99.00 (0 Bid) End Date: Wednesday Aug-20-2008 16:55:00 PDT |
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MILITARY PAYMENT CERTIFICATE SERIES 481 5 Cents US $2.99 (2 Bids) End Date: Wednesday Aug-20-2008 17:56:45 PDT |
