1 Cent

The United States Armed Forces Institute of Finance notes were issued for use in military post exchanges and service facilities during the final year of World War II, functioning as a controlled scrip to prevent American currency from entering local black markets in occupied and liberated territories. The USAFIF series was a late-war rationalization of earlier, theater-specific MPC (Military Payment Certificate) precursors — a way to keep dollar value within the military economy without exposing hard currency to circulation outside it.

S&B#1381 places this squarely in the Schwan-Boling specialized catalog, the primary reference for U.S. military payment issues.