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US Military Payment Certificate

Article about: Hello All, One of my coworkers brought this to show me and he also gave it to me. It pays to be nice to your friends at work!! It doesn't pay well but it pays This is my first time seeing on

  1. #1
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    Default US Military Payment Certificate

    Hello All,
    One of my coworkers brought this to show me and he also gave it to me.
    It pays to be nice to your friends at work!!
    It doesn't pay well but it pays
    This is my first time seeing one and if anybody has more info, I'm all ears.
    Is the "48" on the front for the year 1948?

    US Military Payment Certificate

    US Military Payment Certificate

    Semper Fi
    Phil

  2. #2
    MAP
    MAP is offline
    ?

    Default

    A nice item!

    I'll have to dig through some of my old military currency that my Dad had. Not sure if had any of these. If so I can see if the 48 is similar.
    "Please", Thank You" and proper manners appreciated

    My greatest fear is that one day I will die and my wife will sell my guns for what I told her I paid for them

    "Don't tell me these are investments if you never intend to sell anything" (Quote: Wife)

  3. #3
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    Thanks Michael,
    I appreciate you looking.
    This is the first one i've seen, But not sure the where and how's these were used.

    Is this like the occupation type of thing or just something they used on base???

    Semper Fi
    Phil

  4. #4
    MAP
    MAP is offline
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    Quote by AZPhil View Post
    Thanks Michael,
    I appreciate you looking.
    This is the first one i've seen, But not sure the where and how's these were used.

    Is this like the occupation type of thing or just something they used on base???

    Semper Fi
    Phil
    I never trust Wiki with all the facts but this is pretty detailed and seems pretty simple.

    Military payment certificate - Wikipedia
    "Please", Thank You" and proper manners appreciated

    My greatest fear is that one day I will die and my wife will sell my guns for what I told her I paid for them

    "Don't tell me these are investments if you never intend to sell anything" (Quote: Wife)

  5. #5
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    Thanks Michael.
    Great explanation on the where and how's.
    Looks like there were 13 series of these. The one posted on that page is series 692 used 70-73 time frame.

    I'll see if I can use my Bing Fu for the rest of the answers to date this one..
    Thanks again
    Semper Fi
    Phil

  6. #6
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    Well my Bing Fu training payed off!!!
    "Series 472 military payment certificates were printed by Tudor Press in Boston, MA. They also had a new design from previous issues. They almost look like a stub and check layout. Series 472 was the first issue to use different print runs. Print runs produce some rarities that would not otherwise exist. So if you have a series 472 50 cents note with a serial number higher than 40320000 then you have a rare note that most people would not recognize. All serial numbers will start with the letter C; and most will end with C. If the serial number on your note does not end with a letter, then you have a replacement. Most replacements are very scarce for this series. There was only about 150 million in face value of military payment certificates issued for the 472 series. Only a very small percentage of that would be replacement notes. All things equal though, the five dollar bill is the scarcest 472 note without regard to special qualifiers. Series 472 MPC notes were issued for seven different denominations and were circulated in 17 different countries between March 1948 and June 1951."

    Semper Fi
    Phil

  7. #7

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    Military Scrip,, aka "Funny Money"

    There were several series of MPC starting with the Invasion Currencies produced for the invasion of Italy and France and then occupation currency for Germany, and Japan, post war. The MPC Continued through the Korean War and into Vietnam. The most important day for the Soldiers other than pay day was "C" Day known as Conversion Day. This was the day that Soldiers needed to turn in any unspent MPC they had from the series (series 472 ran from I believe 1948 to 1951).. After this time a new series (series 481) was distributed. Once reason for the exchange was due to counterfeit MPC circulating. By changing the series out it was more difficult for the black market and other underground operations to take a firm hold..

    If a Soldier missed "C" Day there was a good chance the scrip he was holding onto was worthless and the Soldier was out the amount of money he had. Officer's since they were paid more had some of the higher denominations and the lower enlisted had more of the .05 cent up to $1.00 denominations.

    My father was a finance specialist and he was responsible for issuing and collecting the MPC on "C' day as well as handle other pay issues.

    MPC is very collectible but sadly with everything else there are reproductions, especially with some of the higher denominations.. In some cases uncirculated $20.00 MPC bills can sell for several thousand dollars...Due to the rarity and the lack of individuals who would risk having this high a denomination and miss turning it in on conversion day...

    I have collected MPC for several years and it is a fun hobby to get into. They don't take up space and there are not too many of them out there.. I have all of the lower denominations and now I am looking for some of the harder to find higher denominations...

    Here is another link from the US Treasury Department on the MPC...

    https://www.moneyfactory.gov/images/...s_20140123.pdf

    As with all other collecting arenas,, the condition is where the money is.. Many of the MPCs were folded and carried in wallets and many were torn and got wet, and others were written on by Soldiers and kept as a souvenir,, sort of like a "Short Snorter" to show where Soldiers went around the world..

    @Phil..

    Your example is from one of the earlier MPC series and based on the condition is worth about 50 cents...(Not that you are going to sell it I'm sure since it was from a friend)... Crisp uncirculated 10 cent pieces can bring upwards of $20 dollars or more depending on who is looking for them in the numismatic and coin collecting arenas...

    Smitty

  8. #8

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    Nice Phil! I've not seen one of these before. I've only encountered the invasion currency mentioned before and i have some British military notes from WWII. I know they continued the practice of military issued money but I didn't know the US did as well. As my ol man says "you learn something everyday". Thanks for showing.

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    The newest MPC that the military uses are the PX Pogs.. These were common in the Gulf War.. These were small cardboard quarter size round POGS that had money denominations on them and they could be redeemed at mobile PXs when Soldiers in the field did not have actual cash money with them..

    These I understand are also collectible, although I don't have any in my collection, nor will I try to collect something else as I am trying to sell my collection...

    Smitty

  10. #10
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    Quote by Rakkasan187 View Post
    nor will I try to collect something else as I am trying to sell my collection...

    Smitty
    Smitty,
    I was about to LIKE your post above, Then read that line. I know you have an extensive collection.
    I hope all is well?

    Semper Fi
    Phil

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