Series 681 $20 - PMG 66 EPQ - Military Payment Certificate (MPC) - First Print - $1,175 - (Bakersfield, CA)

Military Payment Certificate Series 681 $20 that is GEM uncirculated graded by PMG 66 EPQ. Will ship USPS Priority with tracking. Quick summary, information on MPCs below: Military payment certificates, or MPC, was a form of currency used to pay U.S. military personnel in certain foreign countries. It was used in one area or another from a few months after the end of World War II until a few months after the end of U.S. participation in the Vietnam War – from 1946 until 1973. MPC utilized layers of line lithography to create colorful banknotes that could be produced cheaply. Fifteen series of MPCs were created. However, only 13 series were issued. The remaining two were largely destroyed, although some examples remain. MPCs evolved from Allied Military Currency as a response to the large amounts of US Dollars circulated by American servicemen in post-World War II Europe. The local citizens might not trust local currencies, as the future of their governments was unclear. Preferring a stable currency like U.S. dollars, local civilians often accepted payment in dollars for less than the accepted conversion rates. Dollars became more favorable to hold, inflating the local currencies and thwarting plans to stabilize local economies. Contributing to this problem was the fact that troops were being paid in dollars, which they could convert in unlimited amounts to the local currency with merchants at the floating (black market) conversion rate, which was much more favorable to the GIs than the government fixed conversion rate. From this conversion rate imbalance, a black market developed where the servicemen could profit from the more favorable exchange rate. To reduce profiteering from currency arbitrage, the U.S. military devised the MPC program. MPCs were paper money denominated in amounts of 5 cents, 10 cents, 25 cents, 50 cents, 1 dollar, 5 dollars, 10 dollars, and starting in 1968 20 dollars. Unlike US currency, these certificates were issued under the authority …

Posted in Bakersfield, CA, Collectibles
From ebay.com - 1 month ago