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10 Cents Military Payment Certificate
| Issuer | United States Department of Defense |
|---|---|
| Year | 1954-1958 |
| Type | Log in to see details |
| Value | 10 Cents (0.10) |
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| Obverse description | Central vignette of a classical female bust in intaglio, set within an ornate cartouche against a teal guilloche underprint. Denomination numerals '10' appear in all four corners in magenta, with the serial number and 'TEN CENTS' to the right. 'SERIES 521' appears below the denomination panel. |
|---|---|
| Obverse lettering | MILITARY PAYMENT CERTIFICATE TEN CENTS SERIES 521 FOR USE ONLY IN UNITED STATES MILITARY ESTABLISHMENTS - BY UNITED STATES AUTHORIZED PERSONNEL IN ACCORDANCE WITH APPLICABLE RULES AND REGULATIONS |
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| Comments |
Military Payment Certificates were introduced in 1946 to curb black market currency trading in occupied territories — soldiers were paid in MPC rather than dollars, limiting the usefulness of U.S. currency to local populations operating outside sanctioned exchange channels. Series 521, which covers this note, was issued from May 1954 and replaced in a "conversion day" operation on May 27, 1958, when all outstanding MPC were simultaneously declared void and exchanged for the new series.
Conversion days were conducted without warning, deliberately, to catch black marketeers holding undeclared stocks. Anyone not in authorized possession had no recourse.