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10 Cents Military Payment Certificate
| Issuer | United States Military Payment Certificate |
|---|---|
| Year | 1947-1948 |
| Type | Vouchers |
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| Obverse description | Rose and green bicolor note with a large central guilloche vignette enclosing the numeral "10" and text "TEN CENTS" at left, set within an ornate scalloped frame. Series designation and plate number appear at lower left; the usage regulation text and "10¢" numeral occupy the right field. "MILITARY PAYMENT CERTIFICATE" runs in a decorative band at top. |
|---|---|
| Obverse lettering | MILITARY PAYMENT CERTIFICATE TEN CENTS SERIES 471 FOR USE ONLY IN UNITED STATES MILITARY ESTABLISHMENTS BY UNITED STATES AUTHORIZED PERSONNEL IN ACCORDANCE WITH APPLICABLE RULES AND REGULATIONS. 10¢ |
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| Comments |
Military Payment Certificates were introduced in September 1946 to replace the "yellow seal" invasion currency used by American troops overseas. The core problem they were designed to solve was black market arbitrage — soldiers converting military scrip into local currency at inflated rates, destabilizing postoccupation economies in Germany, Japan, and Austria simultaneously. This Series 461, the first MPC series issued, went into circulation in 1947.
Forbes Lithograph, a Boston commercial printer, was an unusual choice for security printing — the firm was better known for trade catalogs and packaging work. The government's postwar demand for currency production had simply outpaced the capacity of more specialized security printers.