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10 Cents Military Payment Certificate
| Issuer | United States Department of Defense |
|---|---|
| Year | 1951-1954 |
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| Size | 111 x 55 mm |
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|---|---|
| Obverse lettering | MILITARY PAYMENT CERTIFICATE TEN CENTS FOR USE ONLY IN UNITED STATES MILITARY ESTABLISHMENTS BY UNITED STATES AUTHORIZED PERSONNEL IN ACCORDANCE WITH APPLICABLE RULES AND REGULATIONS. TEN CENTS SERIES 481 |
| Reverse description | The Great Seal of the United States as the central vignette, rendered in blue intaglio engraving on a vivid magenta guilloche underprint, with the American bald eagle displayed, shield on breast, holding an olive branch and bundle of arrows, surmounted by a starred glory. Elaborate baroque scroll ornaments frame the seal on either side. |
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| Comments |
Military Payment Certificates were introduced in 1946 to replace the use of regular U.S. currency in occupied and forward-deployed areas, where American dollars were being systematically harvested by black marketeers and converted into hard currency on international markets. Series 481 — the designation covering this 1951–1954 issue — was distributed across occupation zones in Germany, Japan, Korea, and several other areas simultaneously.
Conversion days, when MPC series were abruptly replaced overnight without advance notice, were deliberately designed to trap anyone hoarding certificates illegally. Non-military personnel holding Series 481 notes on conversion day were left with unredeemable paper.